# ACN - Acer Energy



## System (12 August 2011)

Acer Energy Limited (ACN) was formerly known as Innamincka Petroleum Limited (INP).

For previous discussion of this company, please refer to the INP thread: https://www.aussiestockforums.com/forums/showthread.php?t=297

http://www.acerenergy.com.au


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## frankie_boy (5 September 2011)

System said:


> Acer Energy Limited (ACN) was formerly known as Innamincka Petroleum Limited (INP).
> 
> For previous discussion of this company, please refer to the INP thread: https://www.aussiestockforums.com/forums/showthread.php?t=297
> 
> http://www.acerenergy.com.au




Been holding this stock for quite sometime .. been going backwards for the last couple of months..

Name change and not much news..

where to from here?


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## pacestick (11 October 2011)

frankie_boy said:


> Been holding this stock for quite sometime .. been going backwards for the last couple of months..
> 
> Name change and not much news..
> 
> where to from here?




Perhaps here

Announcement
10 October 2011
Acer Energy to Acquire Interest in
Cooper Basin Permit PEL 100
Acer Energy Limited (ASX: ACN) is pleased to advise that it has executed a conditional Sale and Purchase Agreement with Sundance Energy Australia Limited (Sundance) (ASX: SEA) to acquire all of Sundance’s 23.33% working interest in Petroleum Exploration Licence 100 (“PEL 100”).
Under the terms of the agreement Acer Energy will acquire Sundance’s entire 23.33% interest in PEL 100 for:
● A$500,000 due on completion of the agreement; plus
● a potential contingent payment of A$500,000 payable in Acer Energy shares upon achievement of certain future production milestones from PEL 100.
PEL 100
PEL 100 is strategically located in the northern margin of the Patchawarra Trough, Cooper Basin South Australia with an area of 297 square kilometres. The permit is immediately east of the Company’s PEL 182 block and directly west of the Telopea and Keleary oil fields which have produced in excess of 2 million barrels.
Acer Energy CEO, Clint Adams, commented “This acquisition strengthens our position in a proven prospective region of the Basin and is strategically well located to our existing interests. PEL 100 is a welcome addition to our portfolio and we look forward to working with our fellow joint venture partners to realise the potential of the permit.”
For further information contact
Clint Adams Simon Cunningham
Chief Executive Officer Chief Financial Officer
Acer Energy Limited Acer Energy Limited
T: (07) 3007 7900 T: (07) 3007 7


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## frankie_boy (18 April 2012)

Just a bump. Anyone holding or following?

After a 50% rise in the last few months, have taken a nice piece out of it, and since then has come off the boil a little. I am trying to find some news on whats going on with ACN at the moment.


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## pacestick (7 June 2012)

from pro active investors

cer Energy eyes increased resource and cash flow from new target zone in existing oil field
Thursday, June 07, 2012 by Bevis Yeo Acer Energy (ASX: ACN) has identified multiple additional potential pay zones at its Flax oil field in the Cooper Basin following a successful re-entry of the Flax-1 well.

This resulted in additional production from an unstimulated 4.5 metre mid-Patchawarra pay interval – the accessible portion of a broader 9 metre interval that had not being previously produced.

Acer noted that this interval represented a new productive reservoir that has not been

included in the current independent resource estimate of 15 million barrels of in place oil for the Flax field.

It added the post test oil and gas composition remained largely unchanged, confirming the new reservoir contains hydrocarbons of a consistent ratio to that of the lower productive reservoirs.

Of most interest to the company is the fact the interval appears to be present in other wells and could increase the size of the Flax field resource if confirmed.

Acer noted that more recoverable resource from an already developed and producing oil field represents the lowest cost, lowest risk and highest margin opportunity for shareholders.

Foward plans

To fully test and validate this new resource, Acer plans to fracture simulate and test the entire 9 metre interval in both Flax-1 and the correlating reservoir within other Flax wells.

It will also complete all engineering and design work to test additional Patchawarra zones identified within the Flax wells and use recently acquired 3D seismic data to identify lateral extent and potential new well locations.

Patchawarra

The coal and carbonaceous shale of the Patchawarra Formation represent the principal source rocks of the Cooper Basin.

It has also emerged as a potential unconventional play with the South Australian Department of Primary Industries and Resources and companies such as Beach Energy (ASX: BPT) believing that it hosts a basin centred gas accumulation that could change the East Coast gas market.


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## pacestick (22 June 2012)

strong potential for acer latest update 

http://www.acerenergy.com.au/


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## pacestick (16 July 2012)

Acer Energy makes gains on strong Cooper Basin position
Monday, July 16, 2012 by Bevis Yeo	
Acer Energy makes gains on strong Cooper Basin position	

Acer Energy’s (ASX: ACN) strong acreage position in the Cooper Basin with large oil discoveries has proven to be a winning strategy.

The company holds 8 exploration permits covering 2853 square kilometres in the Basin, 6 of which it operates, and is planning to drill up to 6 wells from September 2012.

Five of the permits are located on the GMI ridge, which hold the Flax and Juniper oil discoveries, which could hold more than 100 million barrels of in-place oil, the company also has large gas prospects with 180 billion cubic feet of in-place potential.

These permits also have secondary Birkhead targets that may be tested in new Flax development well locations

The company is also exposed to the basin centred gas accumulation in the Basin espoused by Beach Energy (ASX: BPT) through its PEL 100 and PEL 10 permits that contain the Northern Patchawarra Trough.

Flax and Juniper

While historical Flax wells were chosen based on an enhanced oil recovery development plan, 3D seismic has allowed Acer to identify multiple top of Flax structure well locations for potential future development drilling.

This has also resulted in the mapping of the Flax South structure between the Flax and Juniper structures that besides appearing to be about 65% the size of Flax, appears to have thicker Patchawarra Formation sands.

Juniper also appears to have Patchawarra channel sands that show up on 3D seismic as being potential secondary targets.

To top it off, a further 130 million barrel of in-place potential exists should further work confirm that the Flax and Juniper structures be connected.

Basin centred gas accumulation

Acer’s interest in PEL 101 and operating position in PEL 100 gives it a direct exposure to a potentially Basin changing resources.

Beach Energy’s unconventional exploration in the Cooper Basin has reinforced the potential for the Patchawarra Trough to host a basin centred gas accumulation, which has traditionally proved to both more productive and less expensive to develop than shale gas plays.

To that extent, Acer is participating in a 250 square kilometre 3D seismic program that will cover most of PEL 100 later this year.

Future plans

Besides the 3-6 well program that Acer plans to start in mid-September, the company will also carry out fracture stimulation across the Tirrawarra / Basal Patchawarra sands in Flax-2 and recomplete Flax-1 across the full 9 metres of the newly proven mid-Patchawarra pay and frac the interval.

Acer will also install artificial lift on Flax-5 before testing the improved well production capability.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.


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## pacestick (11 August 2012)

ACER  ENERGY (ACN)

The company recently posted  reports from two different analysts on its Home Page 

http://www.acerenergy.com.au/

The reports were from Breakaway  Research and Casimir Capital
 I have taken the following information from the two reports 

 Flax field oil originally in place  15mmbbls plus OGIP 34Bcf
a further possible  130mmbls of prospective resource has been estimated  from the appraisal of the juniper field and surrounding area
The company is convinced that the present wells are under producing due to the poor method of drilling used  and that they can significantly increasee production with modern methods 

                                             TIME LINE  SHORT TERM

September     1.  trial of a new designed fracture stimulation method in an existing well
2. Test  the oil and gas  composition of shallower reservoirs frac these zones and test flow rates  (this could  result in resource estimate upgradeas they are not included in current resources )
3. Recomplete and frac  a new 9m productive  interval in the  flax1 well (again this is not included in the current resources estimate)
4. Install a pump in the flax 5  well to test improved  well production capability

        The September  programme is estimated to cost  $4-6 mm

1. October     Drill 3-6  new exploration and appraisal wells  This follows the company acquiring a 3D  seismic data report and reprocessing a older 3D report  hopefully this will prove the intercnectedness of the flax and juniper field If  so the amount of oip increase will be large indeed 
The October programme has  an estimated capex of $9-18m    



                                                         MID TERM
Utilising the experience of senior  executives in building LNG plant (Arrow) they intend to build a small scale LNG plant as an oppurtunity   to commercialise  gas and mgls This has an estimated capex  of $40-50m funding details are not given


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## pacestick (3 September 2012)

Up 6.7% last week om low volume Drilling due to start this month probably this week 
www.buysellsignals.com/0030110212808121149


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## pacestick (19 September 2012)

two month drilling program commenced today


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## pacestick (20 September 2012)

pacestick said:


> two month drilling program commenced today




Acer Energy targets production upside with Flax oil field workover
Wednesday, September 19, 2012 by Bevis Yeo	
Acer Energy targets production upside with Flax oil field workover	

Acer Energy (ASX: ACN) is hoping to breathe new life into its Flax oil field in the Cooper Basin by carrying out workovers that seek to further appraise the field and increase production.

The company is using Savanna Energy Services Rig 66 to recomplete a well and carry out hydraulic fracture stimulation and production testing of the previously untested Patchawarra formation pay intervals and a previously fracture stimulated pay interval.

This will determine the effectiveness of the larger modern designed hydraulic fracture stimulations in both the Patchawrra and the previously stimulated pay intervals and test the hydrocarbon composition and productivity of the Patchawarra.

Acer will also install artificial lift in a selected well to test its impact on well productivity.

The results of this workover will be a key factor in the well completion design for the new appraisal and exploration drilling campaign of between three to six wells that is scheduled to start in October 2012.

This is targeted at appraising the potential large southern extension of the Flax field which has been mapped following interpretation of the new 3D seismic.

The Flax oil field had produced 5,013 barrels of oil during the quarter ended 30 June 2012.

It has being independently estimated to hold 15 million barrels of in-place oil and 34 billion cubic feet of in-place gas though this not include the mid-Patchawarra interval.

Acer has a 10% interest in the PRL 14, which hosts the Flax oil field.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.


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## frankie_boy (20 September 2012)

pacestick said:


> Acer Energy targets production upside with Flax oil field workover
> Wednesday, September 19, 2012 by Bevis Yeo
> Acer Energy targets production upside with Flax oil field workover
> 
> ...





They did well from the old well, will this be another outstanding find, well we'll wait and see


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## pacestick (1 October 2012)

SP continues to rise  on this the first of a multi well workover  and drilling programme


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## pacestick (4 October 2012)

takeover offer from DLS  0.255cents cash only They are getting it for a song but largest holder already out


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## frankie_boy (4 October 2012)

pacestick said:


> takeover offer from DLS  0.255cents cash only They are getting it for a song but largest holder already out




DLS are all over it


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## pacestick (4 October 2012)

The only trade  done at the offer price was  republics  the market is saying up the ante


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## pacestick (5 October 2012)

DLS have issued a statement that they will only  recognise holders as at 7pm today .They cant like the idea of the share trading at above their offer price


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## pacestick (9 October 2012)

Senex have been buying at above the DLS  offer  and now have over 6% of ACN Together with the directors  3% they can just about block DLS   probably have 10% between the two of them after todays trading anyway 
Next move DLS  who are  dead in the water meanwhile  the well uplift  continues and must be getting close to a result

All  in all could be a auction under way


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## frankie_boy (10 October 2012)

pacestick said:


> Senex have been buying at above the DLS  offer  and now have over 6% of ACN Together with the directors  3% they can just about block DLS   probably have 10% between the two of them after todays trading anyway
> Next move DLS  who are  dead in the water meanwhile  the well uplift  continues and must be getting close to a result
> 
> All  in all could be a auction under way




SO what is the end result out of whoever takes over. Is this where it gets absorbed into the parent company, or runs as its own, how will this improve the SP into the future?


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## pacestick (14 October 2012)

frankie_boy said:


> SO what is the end result out of whoever takes over. Is this where it gets absorbed into the parent company, or runs as its own, how will this improve the SP into the future?




Only time will tell but we have two companies  have grabbed part of ACN at a time when a well drilling program is under way  As that makes a little less liquidity positive results from the  drilling should push the SP higher. Will DLS make a new offer I dont know Will SXY  buy more they seem to be buying themselves a seat at the  bargaining table rather than doing that


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## pacestick (15 October 2012)

Acer Energy urges shareholders to hold on Drillsearch Energy offer
Monday, October 15, 2012 by Bevis Yeo	Acer Energy (ASX: ACN) continues to urge shareholders to take no action regarding Drillsearch Energy’s (ASX: DLS) A$118.4 million all cash takeover offer.

The company said it is reviewing the offer and that it will respond with its recommendation once the Offer document is despatched to Acer’s shareholders.

Acer also noted the recent substantial shareholder’s notice lodged by Senex Energy (ASX: SXY) advising that it had acquired a 6.42% stake in Acer.

Senex is a joint venture partner with Acer in two Cooper Basin tenements.

Drillsearch’s offer, which is fully funded by its existing cash reserves and a A$100 million 15-month debt facility from Commonwealth Bank, has already received the support of Acer’s largest shareholder Republic Investment Management.

Republic had previously sold 19.9% of Acer to Drillsearch and plans to accept the offer for its remaining 18.82% holding in the absence of a superior offer.

The acquisition is targeted at consolidating Drillsearch’s position in the western Cooper Basin and will give it the largest discovered unconventional gas resource outside of the Cooper Basin Joint Venture partners.

Post-consolidation, Drillsearch will have a combined Proved and Probable Reserves as well as best estimate Contingent Resource of 38.7 million barrels of oil equivalent.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

http://www.proactiveinvestors.com.a...o-hold-on-drillsearch-energy-offer-34508.html


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## pacestick (22 October 2012)

Senex have increased their holding to 7.5% This follows DLS making their offer formal at 0.25c.


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## pacestick (23 October 2012)

www.acerenergy.com.au/

Acer Energy (ASX: ACN) holds a balance of exploration and producing assets in the Cooper, Bass and Darling basins, Australia.


inShare
Pdf	
Email
Acer Energy increases Flax reserves by 280% to 88.5MM barrels of oil equivalent
Monday, October 22, 2012 by Bevis Yeo	
Acer Energy increases Flax reserves by 280% to 88.5MM barrels of oil equivalent	

Acer Energy (ASX: ACN) has recorded a 280% increase in the in-place resources at its wholly-owned Flax oil and gas field in the Cooper Basin to 88.5 million barrels of oil equivalent (MMboe).

This was due to mapping of recently acquired 3D seismic, which delineated the Flax field as a much broader structure covering an area of 12.25 square kilometres, as well as including  the upper and mid Patchawarra formation reservoirs.

The resource upgrade, which follows completion of the 12 month technical review of the company’s GMI Ridge assets, was audited and supported by independent petroleum consultant RISC.

Acer’s current Flax workover campaign and pending drilling program of up to six wells is focused on converting the increase resources into production using the existing 1,000 barrel per day faciltiies at the field.

Flax workover and drilling

The company is using the Savanna Energy Services Rig 66 to recomplete a well and carry out hydraulic fracture stimulation and production testing of the previously untested Patchawarra formation pay intervals and a previously fracture stimulated pay interval.

This will determine the effectiveness of the larger modern designed hydraulic fracture stimulations in both the Patchawrra and the previously stimulated pay intervals and test the hydrocarbon composition and productivity of the Patchawarra.

Acer will also install artificial lift in a selected well to test its impact on well productivity.

The results of this workover will be a key factor in the well completion design for the new appraisal and exploration drilling campaign of between three to six wells that is scheduled to start in October 2012.

This is targeted at appraising the potential large southern extension of the Flax field which has been mapped following interpretation of the new 3D seismic.

The Flax oil field had produced 5,013 barrels of oil during the quarter ended 30 June 2012.

Takeover target

Acer is also the subject of a takeover bid by Drillsearch Energy (ASX: DLS), which is dangling an all cash A$0.255 per share offer before Acer’s shareholders.

Drillsearch is targeting a consolidation of its western Cooper Basin position and the large discovered unconventional resource there.

Interestingly, Senex Energy (ASX: SXY) – Acer’s partner in PEL 100 and PEL 182 – has also acquired a 6.42% stake in Acer, raising the possibility of a bidding war.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.


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## pacestick (2 November 2012)

DLS  has now obtained over 50% of ACN  while ACN can continue the fact that SXY  sold their holding to DLS  means that their is no significant holder to block compulsory acquisition should/when DLS hits  90% I accordingly have sold  acn  on a  about a 60 % profit and put the bulk into DLS  The ACN  fields being the primary reason.
I believe a number of people who bought into ACN after the announcement of the Takeover may have  been burnt
This is  one case where long term buying and averaging down  has won over short term startegies


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## frankie_boy (8 November 2012)

pacestick said:


> DLS  has now obtained over 50% of ACN  while ACN can continue the fact that SXY  sold their holding to DLS  means that their is no significant holder to block compulsory acquisition should/when DLS hits  90% I accordingly have sold  acn  on a  about a 60 % profit and put the bulk into DLS  The ACN  fields being the primary reason.
> I believe a number of people who bought into ACN after the announcement of the Takeover may have  been burnt
> This is  one case where long term buying and averaging down  has won over short term startegies




SO your saying this is not going anywhere now? I see they are going for more control now. Im not sure what it all means.


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