Australian (ASX) Stock Market Forum

ADI - Adelphi Energy

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...just a thought... and most probably pure cr8p ... but EKA would fit well with ADI if there was enough confidence on SL.... or one of the other JV's for that matter... depends on the price i guess...
 
maybe the major oil company will buy out all jvp's?

its likely to be a world class play, infact if SL secondaries are what they believe they are, then its blue sky for the sp and who knows where the future goes..

I see so much activity around the Block A and Block B area that it cant be a coincidence, there is some serious dollars being thrown at the area, real serious, and I see some excellent competition on the horizon.. although i dont like their chances..

I cant see any of the major shareholders flinching in the slightest, there has been no mass exodus, and with NT looking worse by the day, we are still seeing tightly held shares.. a great indication on the confidence shown across all the jvp's on the SL play..

there is brilliant acerage snapped up and we are in the box seat for a sensational ride once they test SL in the coming weeks..
 
speaking in code here..

if i was to say i wsa PERMITTED to say WELL 7 times

then

if i was to say WELL 3 times and PRODUCE one WELL for good measure

then

if i was to say that outside of the JVP its looking like they have PERMITTED to say WELL 3 time at least

then may you well say.. hold on to those shares big time!!!


agentmreportingincode...
 
AUT (Aurora) and ADI (Adelphi) each have a 20% share in SL. AUT is 0.52 and ADI is 0.57. :drink:(Drinking silver) Similar cash amounts $8+m & $7+m Shares AUT129m ADI 70m. AUT has not been on the board since 22 March/ Noika. Is there an update somehere?
Just doing MOR
Cheers
 
Agentm said:
speaking in code here..

if i was to say i wsa PERMITTED to say WELL 7 times

then

if i was to say WELL 3 times and PRODUCE one WELL for good measure

then

if i was to say that outside of the JVP its looking like they have PERMITTED to say WELL 3 time at least

then may you well say.. hold on to those shares big time!!!


agentmreportingincode...
Click to expand...

agentm,
Does this mean that others are movin ´in on the adjacent acreage in which case thc cat is out of the bag & hence the JVP can start treating its shareholders like shareholders & divulge the full story ?
 
AgentM - by definition your code is tricky, it's my sense that you are saying the producer will be announced very soon, and by association the oil major, together with at least 10 specific well targets and spud dates - some parallel drilling, not all serial/long lead-time ... some block A, some B, and some activity on the borders .. possibly even some kind of plant/infrastructure

Am I warm old boy - or just befuddled by the excitement of potentially breaking even (EME holder) sometime in the next 12-18 months !!!
Dums
 
Dums said:
AgentM - by definition your code is tricky, it's my sense that you are saying the producer will be announced very soon, and by association the oil major, together with at least 10 specific well targets and spud dates - some parallel drilling, not all serial/long lead-time ... some block A, some B, and some activity on the borders .. possibly even some kind of plant/infrastructure

Am I warm old boy - or just befuddled by the excitement of potentially breaking even (EME holder) sometime in the next 12-18 months !!!
Dums
Click to expand...


I think the EME well, which is in Block A has possibly spudded already, thats not fact, just my feeling from various places.. so if the major oil co (remaining nameless as requested by various directors and at the request of the major oil co) and TCE have plans there, the second well, drilled horizontal, on that part of the play, would mean to me the major oil co is deadly serious, they would have enough data from the first well and extensive world class seismics, 3d's and the best research money can buy, and with that luxury we see the block a region being seriously looked at and planned. EME is in a great position there, i would be happy today if i owned eme shares..

i think of block A as a well planned and extremely viable prospect, and i also believe the activity south of our lease, with multiple wells there being planned by another major oil company speaks the truth of how prospective block B is also..

i think SL is also part of this world class play, and i am of the belief that once the testing is completed, there will be many wells as adi has announced already. i expect once the discovery is announced we will see bluesky on the sp.. thats what i have invested for and remain in the share for..

today i expect further updates from ADI and hopefully Sl may get a mention..

snorkler announced this re NT on HC today.. worth a serious consideration, he is very very qualified and very well connected in this industry,,

I spoke to Chuck the fraccer from texas, showed him the announcement and he did a some research for me. I will try to convey his thoughts.

First of all he described New Taiton as a discovered field with several wells in it. The Ilse-1 is just in a certain section of it - like a step-out. So its not quite a pure exploration well and hence the risk was reduced as described by the JV.

It is common to use heavy frac fluids in the field - with nitrogen - not sure how this works but the nitrogen will lower the hydrostatic. If something did not quite go as planned e.g. the N2 was lost to the formation then at the end of the frac operation the formation gas did not have sufficient energy to displace the fluid and hence the well is killed.

Not necessarily the end of the well but they will probably need to use some jetting or swabbing now to displace the kill weight fluid in the tubing to get things flowing.

All just pure speculation on limited technical data. This analysis really just confirms the announcement - that it is to early to comment on the commercial nature of the well.

Hope things go in our favour.


I also believe behind the scene ADI is busy planning the future for itself, both in terms of SL and other ventures, i think the next months ahead will see some major changes to ADI profile on the O&G explorers stage..

lets hope for good days from now on..
 
There is a new ADI announcement out.

All it says is there has only been sub-commercial gas flows so far.
 
Had a quick chat with the company this morning and there could be some slippage to the mid July testing date for Sugarloaf. They are awaiting confirmation of this.

Cheers.
 
They are still targeting mid July but at this stage they suspect some slippage and are just waiting on confirmation of this.
 
i suspect this may have something to do with them needing to re-cement some of the casing. But why the hell aren't they doing that now if the rig is onsite?? So f*cking pis*ed
 
Delayed..wouldnt commit to length of delay but impression I got was that it wouldnt be too long but the market you would think wont like it.

Cheers.
 
i dont see the problem blues, its an issue that can easily be dealt with, there is no danger to the well, its a structural issue that is easily fixed, and a short delay is nothing to worry about..

the SP is really biting hard, and i dont enjoy seeing it like this, but its inevidable, if the jvp's run the show in this fashion then thats the way it goes, i notice aut and eka have no problem in their SP, so the SL well coming up is definately attracting speculation there, and i think the smart money is arriving on ADI in this time where the news is negative.

I dont write off Sl, there is no P&A happening there from what i can see, just debate on fracing up the well.

I find it hard to believe they will P&A the well with a play unexplored, so my opinon is that a further test is likely, but i dont know either way!!

i still see block A getting all the attention right now, and i assume thats the focus, i cant wait for news to flow from that secretive arena.. Sl looks to be the second cab off the rank, with long delays and procrastinating..

interesting days right now..
 
I dont see it as a problem for myself as I have held for over a year now so I am well use to waiting. I am becoming frustrated at the delays and the lack of info being given to shareholders. SL has always been the main play for me but I believe if the company announces further delays the share price will head further south as shareholders tire of delays and lack of info.

NT hasnt helped with the perception being given by laying pipeline etc that it would be a producer. It still maybe but there are further delays there as well.

From all my research I am still confident in SL being a winner in the long term.

Cheers
 
EKA more forthcoming than ADI...


SUGARLOAF 1 WELL PROJECT UPDATE
Since our last report on the 24 April 2007, about 15,000 feet of the high
pressure liner used to test the deep target, in the Sugarloaf-1 well has been
successfully recovered and the well has been plugged back above 14,000
feet.
Cased hole wire line logging of the possible gas pay zones discovered
during drilling in Cretaceous carbonates, indicates that the cement behind
the casing is of poor quality and does not provide enough seal to isolate the
gas zones for testing. Remedial cementation, involving serial perforation of
the casing and squeeze cementing, has commenced and is expected to take
up to three weeks to complete.
Fracture stimulation and flow testing of each of the three zones of possible
gas pay will then be undertaken.
Eureka has a 12.5% working interest in the Sugarloaf-1 well through its
wholly-owned US subsidiary Hosston Oil & Gas LP.
Further details of the Sugarloaf Prospect and associated farm-in terms are
summarised on our website at www.eurekaenergy.com.au which also
includes a brief review of the US gas market and fiscal terms.
 
blues said:
I dont see it as a problem for myself as I have held for over a year now so I am well use to waiting. I am becoming frustrated at the delays and the lack of info being given to shareholders. SL has always been the main play for me but I believe if the company announces further delays the share price will head further south as shareholders tire of delays and lack of info.

NT hasnt helped with the perception being given by laying pipeline etc that it would be a producer. It still maybe but there are further delays there as well.

From all my research I am still confident in SL being a winner in the long term.

Cheers
Click to expand...

i spoke for a long time with chris at adi regarding all that sentiment that is being expressed regarding adi and the delays.

If adi were the operator in the venture then they could be criticised a lot, but they have no control over the operators in the states..

in the states, the operator is "king" and the jvp's have no say in the program to any great degree. ADI has the utmost respect for TCE and its approach to the Sl well.. as frustrating as it is for the delays, you need to see the bigger picture.. they share your frustration but cannot change the program..

Horizontal drilling in the chalks is the focus of the project, in my view the difference between the known 150bcf using vertical, and the uncharted tcf potential thats under the acreage is entirely reliant on one factor, successful horizontal drilling..

today it would be totally irresponsible for the jvp's to plow into all the targets helter skelter and hope for the best. TCE has carefully drilled in block A, we know a production well is there on a vertical well, and vertical production on the chalks is not always the easiest thing to do, and if you read the research i did on horiizontal wells, you will see that the austin chalks are prodominantly horizontal.. 2 comments here qucickly,, 1 if no sands target, would Sl have been horizontal??, and 2/ the fact they got so excited on the wirelines indicates there is every chance sl may be productive on the vertical..

plenty are openly criticing the ADI share, but none are commenting on the way they are not being irresponsible and drilling all over the shop, they are conservative and calulating, and cautious, as there is no guarantee of success, only very very promising signs success can be achieved,, and many comapnies are following suit in the immediate area..

so what is TCE dong??? exactly as ADI announced, they are testing block A with a horizontal well, and with that critical data from the well they can compare the first vertical well with Sl and also make some good calls on how successful horizontal wells will be in the 20,000 acre leases the jvp's have.. very good and very clever planning, great alliances with amazing resources, and adi and the JVP's in the box seat on their success.. things couldnt be better for the jvp's i think..

the delays are really nessesary, regardless of when Sl is tested, nothing will happen in my view on developing a field until they are certain the chalks can be productive and economical through horizontal drilling.. thats what i read into adis last announcement..

there are many companies following suit across the county, and a lot of permits are horixzontal as well, i have been alerted to and looking at some interesting presentations from the operator of the pawnee field and they have some exciting expectations for the wells that my research is matched up to..

So in essence, the real issue will be success, not so much as to whether Sl is commercial or not, its got that in the bag i think. 150bcf on the vertical is what they have announced so far... but the focal point of the operator is the big picture, when i research the chalks, and the operator all i see is the possibility of opening up a massive discovery using the best resources in the state, with the best operators, and sorting out and nailing the best way to move forward and make sure the things they think will work actually translates and works..economical horizontal wells.. nothing else really matters..

Delays due to poor management i can accept,, but in the jvp's situation, they cannot ask TCE to hurry up, if you are in the share its difficult to accept, i feel it as much as any other, and as other share move and your money is not gaining much, and its dead easy to be a sideline critic and use hindsight to insult people, but ultimately its up to you to choose how to invest, your to decide whether this project has any credibilty or not..

the block A well is the key in my opinion, once they know if it works, and even if it doesnt, and they learn a better way from it,, its all very important..and better for the jvp's to have it happen on their block not ours with our money, (so see some positive in it, its like a free ticket) would you rather see 16 horizontal wells go in and not be certain it will work, or do a handful first, evaluate, then develop the entire field?

there is great buying opportunities around currently imho, and for those who are not happy and waiting to get out, there seems an abundance of money coming in for their shares..

NT may or may not be a success, and its not just my opinion that the sp is way under the price that nt carried to the sp.. but what ever your perspective is, understand that the vertical drilling of the chalks is not the agenda in texas, and you have to have the right geology and good crews to be a success on the chalks with horizontal drilling.. high risk will always equal high reward!!! remeber Sl was always a test well, and maybe it will very likely be commecial too!! what a bonus, but these guys are not thinking 150bcf in my opinion, i think they know they have 150bcf or more, and potentially many tcf using horizontal wells.. my view is that adi share is worth the 150 bcf and is good value,, others say i am blowing hot air and know =nothing.. for me its easy.. as i have said vertical it will be 150 bcf,, but horizontal its a whole new ball game..

some get it, others either cant or wont ever..

i am in this share for horizontal success.. and not for 150 bcf which i feel is already in the bag and very very likely based on the vertical well in block a already producing,, no one is factoring in drilling success on the play yet into any of the jvp's sp, and i feel all jvp's are exteremely undervalued based on the successfulvertical well on production in the same play..... you cant deny that the wells will open up massive tcf reserves, and we are weeks away from knowing how well the brilliant operator is going with the major oil company..

i am keeping my fingers crossed for what i dream will happen,, there is no certanty at Sl and no certanty in block A, just a damn good shot at opening up a major play.. with 150bcf looking pretty good as a backup..

all imho and dyor

cheers,, and good luck...

good luck to all holders..
 
I think that is a good summation agentm.....how long do you think till we see some results from the Block A well? I am sure some are following the EME threads, what does safiande etc think on this, they seem pretty astute? I haven't looked there for a while, too much junk amidst the gems.

No advice intended. :p:
 
Broadside said:
I think that is a good summation agentm.....how long do you think till we see some results from the Block A well? I am sure some are following the EME threads, what does safiande etc think on this, they seem pretty astute? I haven't looked there for a while, too much junk amidst the gems.

No advice intended. :p:
Click to expand...


as flintoff will testify to,, the advfn boards are tough, they have apparently got paid derampers, whom short eme and also put negative sentiment on the boards, but these guys have never spoken to management and never understood the agenda.. you get some like that here, occassion snipes, with no back up of info to substantiate anything..
saf is great as are many there,, they all know their stuff and some are way more qualified in the O&G game than anyone knows..


I think a lot is happening at block A, and eme will announce things when they can.. ADi is being honest in upgrading its estimates on Sl,, they must have done 3d's in my view, and you wouldnt go blind on a 2d and drill horizontal.. so reading between the lines, the sp is really way under the 150bcf value... and you cant expect the tcf value in the share until there is success on the horizontal, and thats outcome is not far away now...

tcf cannot happen on the vertical,, no one can dispute that.. so the guys cant say they have a massive new discovery, its irresponsible and against the asx rules,, but they are certainly doing everything to make it a possibilty.. the jvp's are smart, they are keeping under the radar as best they can, and snapping up deal whereever they can..

three weeks time there must be news from both block a and SL.. then as adi said,, they can then plan for the future..

we have to wait for TCE and the major oil comapny to do their thing for us.. free carry on R&D!! got to be smiling about that..
 
I have an interest in ADI and all it is doing, but that is nothing compared to the interest I have now in being a 'paid deramper'!!!! How do I get that job??? I could it while at work!!!

Semper Fi ADI!!!!!
 
Agentm said:
as flintoff will testify to,, the advfn boards are tough, they have apparently got paid derampers, whom short eme and also put negative sentiment on the boards, but these guys have never spoken to management and never understood the agenda.. you get some like that here, occassion snipes, with no back up of info to substantiate anything..
saf is great as are many there,, they all know their stuff and some are way more qualified in the O&G game than anyone knows..


I think a lot is happening at block A, and eme will announce things when they can.. ADi is being honest in upgrading its estimates on Sl,, they must have done 3d's in my view, and you wouldnt go blind on a 2d and drill horizontal.. so reading between the lines, the sp is really way under the 150bcf value... and you cant expect the tcf value in the share until there is success on the horizontal, and thats outcome is not far away now...

tcf cannot happen on the vertical,, no one can dispute that.. so the guys cant say they have a massive new discovery, its irresponsible and against the asx rules,, but they are certainly doing everything to make it a possibilty.. the jvp's are smart, they are keeping under the radar as best they can, and snapping up deal whereever they can..

three weeks time there must be news from both block a and SL.. then as adi said,, they can then plan for the future..

we have to wait for TCE and the major oil comapny to do their thing for us.. free carry on R&D!! got to be smiling about that..
Click to expand...



Block a spudded - eme ann
Empyrean Energy PLC
21 June 2007




Empyrean Energy PLC

('Empyrean' or the 'Company'; Ticker: (EME))

Sugarloaf Block A, Texas USA
----------------------------

• First well in the new 16 well deal with Texas Crude Energy Inc ('TCEI')
has spudded

Empyrean has been advised by Texas Crude Energy Inc that the TCEI JV Block A
#1 well, the first well to be drilled as part of the recently announced 16
well deal has spudded on Block A.

Further updates will be provided as relevant information comes to hand.


The information contained in this announcement was completed and reviewed by the
Technical Director of Empyrean Energy Plc, Mr Frank Brophy BSc (Hons) who has
over 40 years experience as a petroleum geologist.


For further information:

Charlie Geller/ Ed Portman
Conduit PR
Tel: +44 (0) 207 429 6605/ +44 (0) 7979955923

Empyrean Energy plc
Tel : +44(0) 207 182 1746

Rod Venables/ Cecil Jordaan
HB Corporate
Tel: +44(0) 207 510 8600



This information is provided by RNS
The company news service from the London Stock Exchange
 

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