# SEY - Sunset Energy



## Joe Blow (5 June 2010)

Sunset Energy Limited (SEY) is an oil and gas explorer focused on projects in the USA.

http://www.sunsetenergy.com.au


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## Smashie (6 October 2010)

FYI currently at 0.11 (time of post)

They have 80% share in this project for natural gas in TEXAS, US.

29/09/2010	9:56AM	Initial drilling set to commence on Triple Crown prospect

Initial Drilling set to commence on Triple Crown Prospect
• Contract Operator Appointed
• Rig Secured
• Road upgrades and Pad completed
• Drilling Permit obtained
• Drilling expected to commence mid October

Holding at 0.12

If any of you have been watching this please cast your opinions on the company and this project


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## philly (9 October 2010)

Hey Smashie,
I have been looking at SEY recently but I must say from a different perspective. I like its interest in the Karoo Basin in South Africa. There the target is shale gas. This seems to be the new darling of the energy world. For example consider the Eagle Ford in the USA and the rapid development there in the past 12 months. Also in Australia BPT has just commenced the search for shale gas in the Cooper Basin.
Apart from SEY the Karoo Basin has attracted several big majors including Shell, Falcon Oil & Gas, Chesapeake and Statoil. Now IMHO that is a positive indication for future development.
AS ALWAYS DYOR
I do not hold SEY ATM


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## philly (30 December 2010)

This ASX announcement was made yesterday.
Challenger Energy Ltd (formerly Sunset Energy Ltd) has intersected substantial gas in a well being drilled on the Triple Crown prospect in Texas, US.

The company intersected gas-charged sands in the Canyon Sands Formation from 4,520 - 4,790 ft. Greater than expected ditch gas shows were observed in three zones within the gross sand interval.

Future operations are to drill into the top of the Ellenberger Formation, swap over to air drilling and drill ahead into the Ellenberger.

Managing director Paul Bilston says the latest set of data is very encouraging. "The early results for the Canyon Sands play have exceeded our expectations, as the gas shows are stronger and the main sand over twice as thick as anticipated," he said. "Full evaluation of this show awaits the forthcoming wireline logging program."

Nice way to finish the year. SP up 5c (or 45%) today. I like it  I hold.


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## philly (4 January 2011)

philly said:


> This ASX announcement was made yesterday.
> Challenger Energy Ltd (formerly Sunset Energy Ltd) has intersected substantial gas in a well being drilled on the Triple Crown prospect in Texas, US.
> 
> The company intersected gas-charged sands in the Canyon Sands Formation from 4,520 - 4,790 ft. Greater than expected ditch gas shows were observed in three zones within the gross sand interval.
> ...




A further announcement this morning that so far they drilled into the the Canyon Sands and Lower Canyon Sequence zones and have intersected a gas zone of potentially over 1000 feet. These are both secondary targets and they anticipate reaching the primary target, the Ellenberger Formation, later this week.
Managing Director Paul Bilston said the well had outperformed expectations.

Great way to start the New Year I am expecting a bit more upwards movement in the SP on the back of this announcement coupled with and the proximity to reaching the primary target. I hold and I am excited. Anyone else out there?

Late news CEL is up 6 cents [22 cents] at the open on volumes of over 2.4m shares


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## philly (4 January 2011)

philly said:


> A further announcement this morning that so far they drilled into the the Canyon Sands and Lower Canyon Sequence zones and have intersected a gas zone of potentially over 1000 feet. These are both secondary targets and they anticipate reaching the primary target, the Ellenberger Formation, later this week.
> Managing Director Paul Bilston said the well had outperformed expectations.
> 
> Great way to start the New Year I am expecting a bit more upwards movement in the SP on the back of this announcement coupled with and the proximity to reaching the primary target. I hold and I am excited. Anyone else out there?
> ...




At the close today CEL was at 28.5 cents  [up 12.5 cents or 78% for the day] on volumes of just over 17.9m shares.You just have to love oil and gas shares when you can achieve these sorts of results. Whilst there are no such things as certainties if you do the research you can reduce the risk of a loss and if things work out then its up up and away. I am going to enjoy this ride


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## Atomic (5 January 2011)

hello people ,
i am unable to find SEY on the asx , etrade sites is it the company has a different listing code or listed on another exchange?

moving into africa as a developing resource play seems to a long term investment but as previously stated gas and shale oil seems to be sort after market shinners atm


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## Atomic (5 January 2011)

Atomic said:


> hello people ,
> i am unable to find SEY on the asx , etrade sites is it the company has a different listing code or listed on another exchange?
> 
> moving into africa as a developing resource play seems to a long term investment but as previously stated gas and shale oil seems to be sort after market shinners atm




All good now checked the asx code changes site , found the answer CEL new code as in above post. Do we need to move this thread ?


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## philly (7 January 2011)

CLE closed the week at 24.5 cents on volumes of a bit over 4m shares. 
Whilst there has been a retreat of the SP since the high reached on Tuesday [28.5 cents] next week will hopefully see some increases in the SP as the drill bit intersects the primary target, the Ellenberger Formation. Lets hope that the well continues to outperform expectations


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## philly (10 January 2011)

More good news from the Triple Crown announced this morning. Continued gas shows were encountered on the way to intersecting the primary target. Now that the drill bit is entering the primary target lets hope it encounters more gas shows and the SP gets a kick along. I am a holder 

Triple Crown Prospect Texas
Continued gas shows in Canyon Sequence – Ellenburger Intersected
The Board of Challenger Energy Ltd (“Previously Sunset Energy Limited”) is pleased to
announce that the well being drilled on the Triple Crown Prospect has now intersected the top of the Ellenberger (slightly deeper than expected) at approximately 5800 ft (1767m) having drilled through the Strawn Limestone from 5710ft (1740m) to 5800ft (1767m) MDRT.
*Strong ditch gas shows of between 300 – 500 units (3 –5%) were observed in the Lower Canyon sequence down to a depth of 5710ft (1740m) adding another 150 ft (46m) to the 1000 ft (305m) potentially gas charged zone previously reported.
Good gas shows of between 200 – 350 units (2 – 3.5%) were observed during drilling in the Strawn and into the top of the Ellenburger.*
As a result of losing circulation during drilling with fluid in the top of the Ellenburger (which has now been resolved), a decision has been made to set casing at this point instead of drilling on further into the Ellenburger.
As at 9 am this morning the well is at a depth of 5812ft (1771m) MDRT, logging equipment is onsite and logging operations have commenced.
Following wireline logging operations, 7 inch casing will be set, the rig converted to air
drilling and it will proceed to drill ahead with air to TD. It is anticipated that the well will
intersect at least 2000 ft of Ellenburger Formation.
Further updates will be provided in due course.
Yours faithfully,
For and on behalf of Challenger Energy Limited
Paul Bilston
Managing Director


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## philly (18 January 2011)

philly said:


> Hey Smashie,
> I have been looking at SEY recently but I must say from a different perspective. I like its interest in the Karoo Basin in South Africa. There the target is shale gas. This seems to be the new darling of the energy world. For example consider the Eagle Ford in the USA and the rapid development there in the past 12 months. Also in Australia BPT has just commenced the search for shale gas in the Cooper Basin.
> Apart from SEY the Karoo Basin has attracted several big majors including Shell, Falcon Oil & Gas, Chesapeake and Statoil. Now IMHO that is a positive indication for future development.
> AS ALWAYS DYOR





From www.upstreamonline 17 January 2011 12:41 GMT 

*Shell lines up Karoo shale play*
Supermajor Shell plans to explore for shale gas in South Africa's Karoo basin according to reports. The announcement was made in an advertisement in the Sunday Times newspaper, reported Reuters. 

The company said it had applied to Petroleum Agency South Africa for exploration rights in the South Western Karoo Basin to assess viable unconventional gas resources. 

Precise sites within the proposed 90,000 square kilometre exploration area had not yet been identified, the company said. 

Shell said it would, from next week, hold meetings to solicit views from the public and compile an environmental assessment of the project. 

A number of local and foreign companies such as BHP Billiton and Sasol have shown interest in gas exploration in South Africa. 

If successfully developed, shale gas could become a viable alternative for South Africa's power generation, which now relies on coal for 95% of supply. It could also help reduce the country's carbon footprint. 

In the US and some other countries, environmentalists have raised concern that the methods used to extract shale gas could lead to contamination of water supplies.


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## philly (19 January 2011)

*CEL made this announcement today regarding the Triple Crown Prospect in Texas
The announcement contains a bit of a mixed bag of results which can be summarised as follows:- 
The shallow Canyon Sands down to 3000 feet look pretty ordinary.
The Lower Canyon Sands from 4530 feet - 5685 feet have a high gas saturation.
The main target the Ellenberger Formation was intersected at 6020 feet  and is estimated to be between 1800 - 2000 feet thick. Drilling to continue to TD*.

Petrophysical Analysis Indicates Multiple Zones of interest in Canyon Sands
The Board of Challenger Energy Ltd (“Previously Sunset Energy Limited”) is pleased to
announce that results from preliminary petrophysical analysis have been received.

In the main part of the Lower Canyon Sands from 4530 ft to 5685 ft, which returned high gas shows during drilling, petrophysics has confirmed high gas saturations throughout thesection. It has also revealed a sequence of interspersed conventional and unconventional opportunities which analysis of the sidewall cores will help to understand.

In the shallow Canyon Sands above 3000 feet there are several zones where water
saturation and log porosity are at or near the cut off for conventional production, however,the pressure in these shallow zones is anticipated to be low.

Previous picks of the top of the Ellenburger dolomite had proved false and the top was
finally intersected at 6020 ft. The Ellenburger is a tight sucrosic to micro crystalline dolomite and cuttings from drilling are dry suggesting that it is gas charged. As at 6 am this morning the well was at 6533 ft and drilling ahead to intersect a fracture swarm. It is anticipated that the Ellenburger will be between 1800 – 2000 ft thick.

Commenting on this the Managing Director Paul Bilston said:
‘Log interpretation and petrophysical analysis of the well has so far has confirmed gas
charged sands in the Canyon Sands and a new unconventional play in the Lower Canyon Sequence. Further refinement of the details will await results from the side wall coring programme, however I am very pleased by what I have seen so far.

The results from this well already provide enough confidence to warrant suspending the well for further testing in these zones. The exact nature of the testing programme will only be decided on after further analysis as the potential pay zones are complex with an intimate association of conventional and unconventional reservoir in the same interval.”
As of 6 am this morning the well was at 6533 feet drilling ahead with air in dolomite of the Ellenburger Formation. Future activities are to drill to TD, run wireline logs and suspend the well for future testing.

*Despite the optimistic tone of Paul Bilston, Managing Director the market was not so pleased and shaved 4 cents off the SP down to 18 cents. The SP had reached 28.5 cents earlier this month.*


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## philly (21 January 2011)

ASX announcement released today

*Challenger Energy encounters 2300ft gas shows in first well at Triple Crown*

Challenger Energy (ASX: CEL) (previously Sunset Energy) has intersected over 2300 feet of gas at the first well on the Triple Crown Prospect in Texas.  The very large gas charged structure  was intersected in the Ellenburger formation and exceeded expectations.

In addition, the company said the Canyon Sands and the new Unconventional Gas play, both within the Triple Crown Prospect, have company making potential.

On completion of drilling, the well reached a total depth of 7431 ft. Gas shows in excess of 7% were observed when the bit was being tripped out of the well.

The next phase of evaluation for Ellenburger is to run and interpret the wireline and image logs to allow the merits of a horizontal well from the existing casing (which already runs to the top of the Ellenburger). 

The company is currently in talks with Halliburton, who are positive on the potential for successful fracture stimulation of the Ellenburger in this structure, based on the analysis of previous well logs.


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## philly (22 March 2011)

philly said:


> ASX announcement released today
> 
> *Challenger Energy encounters 2300ft gas shows in first well at Triple Crown*
> 
> ...




The last ASX announcement regarding the Triple Crown Prospect was back on 21-1-11. There was talk of preparing the well for fraccing but no news since. What is happening?

I suspect that there must be something stirring because in the past fortnight 2 new investors have lodged a Form 603 with ASX. A Queensland Super Fund has picked up a6.71% interest and a NSW Absolute Return Fund has picked up a 5.97% interest. Strange bedfellows. Watch this space.... any thoughts welcome.


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## CapnBirdseye (23 March 2011)

Yes, it's good news to have a couple of funds involved.  I think Pitt St is related to Novus who were the broker for a recent placement.  If this is the case, then I'd be surprised if they weren't party to some good, reinforcement lets say of recent announcements.

It's been very quiet on the testing front, I'd dearly like to get a little news some time soon on progress/forward programme.  Maybe this Friday?  It may be that the next announcement is regarding new acreage.  If this is the case, I'd say we really are on to a good thing here.  After new acreage is secured we might start getting info regarding a test programme.

I'm holding CELO.


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