ADI - Adelphi Energy

[camaybay]

Some info on Aurora site. They have the drinking silver to-day. :drink: Their progress report is positive and informative. Not holding either.
Cheers
DYOR

 

[Lucky_Country]

SP holding up pretty well all things being considered ADI should be on the boil in the latter half of this year with all things planned may even get a result from SL !

 

[Agentm]

so there we go..

2 wells drilled,

and one well on production..

in three weeks the tests, then the news on how many wells and where and when..

great news..

 

[The Snorkler]

Yeah I was wrong call again - trying to remain positive about NT.

I think the moral of the story is you really cant read anything into the "operations update" announcements. There is no hidden technical data there. If an experienced stimulation engineer who actually knows the area could only guess then what chance do we have?

I will add also that I showed him the announcement about the pressure kicks they took while drilling the well to the announcement yesterday and he thinks they make absolutely no sense - from a practical standpoint.

Im just bull****ting now and this has no relation to ADI but since its Texas I thought id share. There is another English guy at work who has some experience in Texas. He described some parts as Deliverance country and a snakepit for foreign oil companies. He had an experience where their American partner simply physically shut the well in so that the JV would lose their production licence and they could do a swifty and take control of the well somehow. The English guys company had a lawyer fighting for them who slept with a gun under his pillow! This was back in the 80s mind you. Im sure things have really changed. Really!!

 

[Agentm]

Yeah I was wrong call again - trying to remain positive about NT.

I think the moral of the story is you really cant read anything into the "operations update" announcements. There is no hidden technical data there. If an experienced stimulation engineer who actually knows the area could only guess then what chance do we have?

I will add also that I showed him the announcement about the pressure kicks they took while drilling the well to the announcement yesterday and he thinks they make absolutely no sense - from a practical standpoint.

Im just bull****ting now and this has no relation to ADI but since its Texas I thought id share. There is another English guy at work who has some experience in Texas. He described some parts as Deliverance country and a snakepit for foreign oil companies. He had an experience where their American partner simply physically shut the well in so that the JV would lose their production licence and they could do a swifty and take control of the well somehow. The English guys company had a lawyer fighting for them who slept with a gun under his pillow! This was back in the 80s mind you. Im sure things have really changed. Really!!

NT is obviously a big debate right now.. but i feel the decisions being made by the operator are beyond ADI's influence..

now i am absolutely perplexed by the EME announcement, it makes no sense.

TCEI JV Block A #1 well????? what sort of name is that? the well is definately not called that, so its obvious that EME is absolutely unable to report anything about it. AS for the content of the report, its absolutely contrary to all my research. I am not an EME holder, and as far as I am concerned, if that is the level of reporting that a public company can get away with, god help us!! we will never know anything.. how are the shareholders going to be able to check the production levels of their well their money is invested in when they are not even told the wells name??
I can honestly agree with all your saying snorkler, the texas guys are absolutely ruthless to their investors!! WOW i cant believe what is happening right now.. In the states it is required to disclose all production details of wells and well names, i would hazard a guess that hiding the well name from investors and trying to get away from it must be some sort of felony,, but obviously in the UK its perfectly Ok to do so.. intersting indeed..

 

[tarzanhey]

To be honest AgentM I am pretty annoyed about the lack of info on the RNS from EME.

Sure it great that they have spudded the new well and it will I am sure mean great things to EME, but this really is not good enough.

Try telling your wife so little info after you spent a lot of HER money on a secret trip with a secret Partner at a secret place and then see if you survive without telling her a lot more.

 

[Agentm]

the lack of info still tells a story..

it says the major oil company pulls the strings and is very keen for no info to get out!! EME are unable to declar the name of the well, and any details of where they are at, nor that its a horizontal well..

Teh jvp's share prices are at a stael right now.. a vertical well just like SL only a short distance away ref july 2006 EKA report:

A recent gas-condensate discovery by competitors has
been made in one of these shallower limestones within a few kilometers of​

the Sugarloaf well location


So the competitor well in block A is only a few kilometers away, 9they say) and producing in the secondaries on the vertical and soon on the horizontal, i tend to think that the news about is great, we know the competitor is a major oil company (name withheld at the requet of ADI) and we know the couch oil report on our well was very very promising indeed..

My research tells me theres a lot going on, under deep secrecy and for the purpose of determining a 16 well program involving horizontal and vertical wells all over the two blocks..

If you were TCE, would you test develop the wells you could keep under wraps the longest with a major oil company under deep secrecy and test away, or do it with a jvp of companies whom all have requirements with authorities like the asx to report much detail, and thereby giving all your competitors access to very critical data??

Things are happening at SL in block A and B, just as you would expect a smart operator like TCE and a major oil company to behave..

plenty of things going on in texas for sure..

as i have said before, if you understand the chalks, understand how critical the success of horizontal drilling is to that type of play, understand how good a sign it is to be producing on the vertical in that play in any case, then i am certain your an adi or a jvp investor already,

interesting days ahead..

 

[The Snorkler]

In the states it is required to disclose all production details of wells and well names, i would hazard a guess that hiding the well name from investors and trying to get away from it must be some sort of felony,, but obviously in the UK its perfectly Ok to do so.. intersting indeed..

Agentm,

Each well should have an API number and we couldnt find one for New Taiton or Ilse-1.

Regards,
Snorkler

 

[sandlion]

Once they are permit allocated and producing, then they get an API designation...wehy does everyone look for conspiracies where they dont exist...sheesh...some wells are given field sequential numbers (e.g Sugar Loaf #1...SL #2 etc) as well as being given PID designations, API numbers, flowline numbers etc etc Its not a big mystery, and as far as UK regulations go...they are far more onerous and professionally allocated than anything conjured up by ASX...FTSE100 and the Dow Jones are the 2 main financial markets in the world...the ASX trickles in somewhere maybe in 7th place or something?

Hang on, I thin I just saw a rig pig somewhere over there...behind the grassy blowdown pit...

 

[jballs]

EME currently up 30% in London ..... interesting!! Not large turnover, however; just over 1 million shares traded.

 

[Agentm]

Agentm,

Each well should have an API number and we couldnt find one for New Taiton or Ilse-1.

Regards,
Snorkler

i guess its because there are a lot of us that know the details of the wells, api numbers, production rates of the first well , etc etc,, i wont put any of that on the forums at the request of alex and chris, they respect the EME requests for the major oil company to be withheld, so I also maintain that stance along with many others.

i as an investor want to know exactly where my money is and what its doing, whaever a public company cant or wont disclosed is easily discovered by internet research, phone calls to various authorities, and letters and emails.. its no real problem to get the big picture on something..

the TCEI JV Block A #1 well (lets not call it by its real name and real number) is a horizontally drilled well, and all mmy research leads me to believe the EME announcement was totally out of time with reality.

I am absolutely certain, from my research and three seperate sources, that the testing of both wells will be practically at the exact same time..

snorkler, i researched the NT well just then (as i wrote this reply) it took me less than a minute to find the api number.. do you need it? its never been on my radar as i have not considered it as an important well.. I have mainly been interested in the SL secondaries since ADI announced its intentions there a few years back.. well name and opertor is all correct.. as stated by all jvp's, and no fake names there..

i find it amazing the jvp's use the real name for one well, and fake names for the block A wells!! and more amazing that the block A well is in some sort of time warp in the UK..

sandlion.. i had no idea about the things you posted.. i will keep that in mind, i had no idea the UK reporting had such high level requirement,, i had been told by various directors the EME exchange had some of the worst reporting requirements, and was far inferior to the ASX requirements,, i stand corrected.

I was always given the impression a publically listed company had an obligation to its investors to report factual and accurate information,, and didnt realise that disguising wells was common practice..

i have learned this week that reporting in the Uk doesnt require any real depth of detail, and the term spudding can cover a broad range of drilling processes up to TD.. i didnt know that until now.. when SL was being drilled i remember speaking to adi about how they had to use the correct terms for all stages of drilling.. i had no idea spudding could mean the the stage the block A well is at..

NT is being reported by the jvps' far more, and in greater detail than the NT USA listed partner.. they have not reported very much at all..

also The major oil company has not listed any announcement at all on any of the wells it has drilled in block A, infact i have yet to find any reference to anything about the block or wells on the website, any presentation, press release, or official release, they have not even mentioned they are in the county!! so if their reporting rules are so much better then obviously the JVP's are being brilliant and very generous in reporting anything about the Sl project or the block A wells..


i didnt realise the ASX ranked about 7th on reporting,, thats interesting too.. maybe ADI should quieten up a little then, we may be blessed that they are reporting a lot of details..

 

[Agentm]

snorkler

i decided to look closer at NT, i have to admit i have done absolutely no research on it at all,, so i figured a hour was worth it.

the lease was operated by Dewbre petroleum Corp

http://www.dewbre.com/aquisitions.html

Wharton County
Wharton County activities began with drilling shallow Miocene and Frio gas wells in 1988. Drilling depths subsequently increased to deeper targets and success in the Yegua and Wilcox formations. One of the success stories was in the New Taiton Field where Dewbre took over operations of 3 producing wells, shot a 3D survey over the property, drilled several new wells, increased production dramatically, then marketed and sold the properties for a significant profit for the working interest owners. A large 3D data base in the area is continuing to result in generating and drilling successful wells


i looked at many wells on production in the area, and it seems they have had various successes very near to ilse 1,, within 2.5 miles..

as a side note its interesting they are also in karnes county and have horizontal wells going in there as well. i note its sister company aroura is also active on the border of our leases at the same depth..

http://www.geopetra.com/business.html


anyway,, as all things texas,, you get the profile of the company and very little else..

my view on NT is still slightly optomistic,, no P&A notice out yet..

SL remains the main deal,, EME got a huge surge of interest in it from the blcok A well.. and 21% up on the day bucking the trend of a very negative day on the UK market.. i maintain the well is shrouded in secrecy and have maintained the wishes of ADI and EME and not announced its correct name and details of the production well on the lease there. But its no wildcat.. its horizontally targeting the production strata of the well that is producing and this whole show in block A is only miles away from SL on the same play..

Sl looks absolutely brilliant inlight of that in my view..

the days are drawing nearer now,, not long before results of block A and Sl will start to filter out..

all IMHO and DYOR

 

[The Snorkler]

thanks Agentm. That is some good information

 

[Agentm]

no problems snorkler..

your post inspired me to actually research NT a little more.. and now i have i get a little more confidence on the 14,000 feet region, as all wells definately produce at that level.. i would hope a decision either way would come soon.

 

[nioka]

I have a problem with assessing the value relationship between ADI and AUT. I have traded between the two on a regular basis and have been able to increase my holdings and still cream off some profit. My last trade between the two enabled me to sell 2 ADI and buy 3 AUT. I looked at selling the AUT and reverting to ADI which would, at todays prices, give me a 33% increase on the original ADI shares. They both have equal shares in sugarloaf. AUT has a 22% share in Gawler, ADI has NT. They both have other interests but those mentioned are the main ones I am considering with immediate value.
Would anyone like to comment on the comparison of values?

 

[mick z]

no problems snorkler..

your post inspired me to actually research NT a little more.. and now i have i get a little more confidence on the 14,000 feet region, as all wells definately produce at that level.. i would hope a decision either way would come soon.

janssen 1 is about to spud.. in karnes county, maybe one to keep an eye on.....................................................................

 

[Sean K]

janssen 1 is about to spud.. in karnes county, maybe one to keep an eye on.....................................................................

Gents, please keep to the 100 character rule. Future posts being padded will be removed without notice and infractions awarded. The rule is there for a reason, and it is VERY easy to stick to with just a little bit of extra thought. All the best with ADI, kennas

 

[Agentm]

mick.. my post was moderated and reduced by kennas!! i had a funny little line about the code snorkler put into the post.. anyways,, i will post here until they ban me.. kennas seems to think it was funny!!

I just looked west of block A and came across another well pioneeer had put in a few months ago,, it was vertical and went to the same depth as the production well in block A, and the present horizontal well being drilled in block A which EME has a small part in.

it was completed in DEC 06 and has "shut in" classification..

nice one!!!!

it seems you can go vertical in the chalks all around the shop and come in with a commercial well,, no wonder the majority of permits are now horizontal..

once this next well is done, its will show the jvp's what type of flows they can expect from a horizontalo well,,and as ADI announced,, they will use the block A vertical and horizontal well data and SL vertical well data to plan the 16 well program..

theres permits all over the place now.. i can tell whom the major oil co and tce are trying to compete against, and why the secrecy.. but when you look at what the competitor has done, you can clearly see there not much that either party doent know about the play.. at least poineer mentions it on their recent presentations!!!

i am of the belief these horizontals are going to unlock some major gas and condensate for us..

all imho and dyor..

 

[Dukey]

G'day all again - just to add something re the Austin Chalks potential - in checking (googling) around myself I found an Oz company called burleson energy (BUR) who look very interesting in themselves - they are heavily into the Austin Chalks maybe a few countys away from SL.

Anyway - this report of theirs gives plenty to think about re the chalks, horizontal wells, dual zones, nice diagrams and maps. So I guess this kind of stuff is what could potentially happen at SL if the chalks hit paydirt - as it seems they have in many many other locations. Hope this sheds some light for those mushrooms like me!.

http://www.burlesonenergyltd.com/documents/316.pdf

(let me know if I've got the wrong link)
BUR sound like a goer too. Need more cash!!!!!!!!!!!

 

[Dums]

Thanks for this Dukey - Interesting read - I especially liked the 1BCF = $8m ... It has been a good day for EME in England - up 21% today trading at 48/49 pence on 3.7m volume ... something definately afoot - hope its good news around the block A and B area ... they did release some news this morning but that was just delayed testing for one of the shallow wells in their Project Margarita (due to bad weather) ... EME were up about 28% on friday as well, so a fundamental re-rating of the share price is happening ...
Hope this rubs off onto the JV partners.
Fingers crossed for the Austin Chalks !!!!
Cheers Dums