BUR - Burleson Energy

[Wysiwyg]

Seems like a company with promising present and future oil and gas exploration/development.Haven`t done a lot of research so y`all have to check it out for yourselves.

My first thread.....yayyyy.

 

[Wysiwyg]

Nice vertical lip bash hey.Some air and re-entry next?

Oh I wish I had more funds available.:alcohol:

 

[Sham]

Won't be long till this one is above 50c.
Gas on the way and this is only the start.
I'll be holding this one long term.

 

[Sprinter79]

This one came up on my scan both Thursday and Friday nights. Is there more in this one, or will it retrace and cool off a bit? That, is the big question

 

[Wysiwyg]

This one came up on my scan both Thursday and Friday nights. Is there more in this one, or will it retrace and cool off a bit? That, is the big question

Bags a retrace and cool off a bit. lol :silly:

 

[Wysiwyg]

News released after hours on initial well flow rates .



26 June 2007
Company Announcements
Australian Stock Exchange Limited
Level 4, 20 Bridge Street
Sydney NSW 2000
By electronic lodgement – 1 page

BURLESON ENERGY LIMITED –IMPORTANT UPDATE YPU#1 WELL
Burleson has received a brief report from the operator, sent late June 25 (Texas time), that they
were in the process of uploading drilling fluids at 48 barrels per hour.
The flow of liquids coincided with a flow of gas of 5.59 million cubic feet of gas per day
(MMCFD) on 26/64 inch choke at 2500 pounds per square inch of pressure. The true commercial
significance of these flows rates will only be established once all the fluids are lifted and the gas
flow rates have stabilized.
Any further material information will be released when received.
Mike Sandy
Executive Director
0400 660 153
Please refer to our website for further information
www.burlesonenergyltd.com


fess. I don`t hold any BUR.

 

[resourceboom]

great news just out... flow rates of their first chalks well 5.9MMCFD which may increase once all fluids are lifted....

 

[Wysiwyg]

great news just out... flow rates of their first chalks well 5.9MMCFD which may increase once all fluids are lifted....

Hi booom , usually the site admin. are on to thread double ups so looks like you caught them napping.lol.

 

[Sprinter79]

Hmmmmm, could be very interesting.....

Has this already been factored in, and may it account for some of the recent surge?

 

[Sprinter79]

This one has taken off today, almost 15% up on the day as of typing this up. I got into this one a few days ago. I've attached the chart:

 

[Sprinter79]

Here's a section of today's announcement:

Yegua Properties Unit #1 Well Being Prepared for Production

Drilling of the YPU#1 well has finished and the well is being completed and connected into the local pipeline network in preparation for commencing sales of gas and condensate.

The YPU#1 encountered gas and condensate while drilling laterals in two target Chalk reservoirs (Georgetown and Austin Chalk) and has flowed gas during the completion of the well. The production value of the well will be determined once flow rates have stabilised.

The YPU#1 well is the first well in a programme of at least 25 wells targeting Chalk reservoirs in acreage in 4 Texan counties.

--------------

How did the market respond? Dropped it's SP by 5% of course :

 

[Sprinter79]

Another annoucement today:

ROCKET 2 WELL COMMENCES DRILLING

Champions area, Grimes County, Texas

Burleson Energy Paying Interest 20% and Working Interest 17.5%.

The Rocket #2 well in Grimes County Texas spudded early morning Texas time 4 July 2007 and is anticipated to reach TD in 60 days. It is the second well in a programme of at least 25 wells targeting Chalk reservoirs in acreage in 4 Texan counties...

 

[Wysiwyg]

Coming down some since the initial gas hit at Yegua 1.(31.13% net revenue) and subsequent production at `beyond expectations`.4 mmcfd gas and condensate on top of that so looks good for the first well.

Rocket 2 (13.25 net revenue I think) is now drilling and will take up to 2 months including the laterals (great idea).

BURO is available with an exercise of 25c in 2010 LOL.Chart of the action up to present day...... Still not holding (stuck elsewhere) but I will hit `em soon I swear it.

 

[Dukey]

I'm gonna hit em now... new Rocket well is near the Austin chalks depth. I get the feeling this mob is a no brainer!!! but has been largely overlooked...

the previous well should pull in 10k$ (minus expenses) per day for BUR by my rough figures!! a few more like that and we'll be laughing...

go the oppies...

 

[resourceboom]

I added to my holdings today too.

Couldn't refuse with the general market slide giving good prices on BUR after good news on the first well, second well almost at target depth, and third well announced.

But sticking to the heads, in case of unlikely disasters.

 

[resourceboom]

... as I posted on HC, I have great expectations from rocket 2

great tools for texas well querying....
http://gis2.rrc.state.tx.us/public/?
http://webapps.rrc.state.tx.us/PDQ

ROCKET 2 api# is 185-30716

Below is 1 year data from the other 2 wells either side of Rocket 2:

columns are gas produced / sold / condensate produced / sold

The only concern could be if these 2 1999 wells have drained some of the rocket2 area, or if drilling difficuties.

MARATHON OIL COMPANY 525380 GIDDINGS (AUSTIN CHALK, GAS) 34773550 (ROCKET 1 185-30643)
Jan 1999 530,802 530,802 21 21
Feb 1999 488,731 488,731 0 0
Mar 1999 516,126 516,126 29 29
Apr 1999 358,871 358,871 0 0
May 1999 330,540 330,540 10 10
Jun 1999 263,522 263,522 7 7
Jul 1999 281,299 281,299 0 0
Aug 1999 205,283 205,283 11 11
Sep 1999 163,130 163,130 5 5
Oct 1999 151,327 151,327 0 0
Nov 1999 108,911 108,911 4 4
Dec 1999 136,884 136,884 0 0


MARATHON OIL COMPANY 525380 GIDDINGS (AUSTIN CHALK, GAS) 34773550 (TRIUMPH 1 185-30650)
Jul 1999 147,831 147,831 0 0
Aug 1999 502,116 502,116 23 23
Sep 1999 471,340 471,340 13 13
Oct 1999 459,074 459,074 0 0
Nov 1999 349,735 349,735 9 9
Dec 1999 295,109 295,109 0 0
Jan 2000 364,327 364,327 9 9
Feb 2000 371,887 371,887 0 0
Mar 2000 245,046 245,046 4 4
Apr 2000 209,206 209,206 0 0
May 2000 188,352 188,352 1 1
Jun 2000 164,865 164,865 9 9

.... the figures are in MCF
so 500,000MCF per month = approx
15,000MCFPD (15MMCFPD)

 

[Sham]

Rocket 2 has every chance of being a commercial well. AKG got in on the drilling of these wells with Marathon because a new drilling crew made a number of mistakes drilling the last well in the area. AKG are drilling rocket 2 how the previous 18 successful wells were drilled, not with the same technique used on the well which was a bit of a disaster.

BUR has everything going for it. Great management,continuous drilling program, cash flow, and money in the bank. Low risk and boring just how I like it

 

[cicak_kupang]

We could expect to hit the chalks by next week according to todays announcement, should bring a bit more interest back into the share.
fingers crossed.................

What are other people thinking???????????????????

For a share that has such a good drilling programme in proven areas, money in the bank and a producing well, there isnt so much talk or interest around..........

 

[Sprinter79]

yeah, I've been holding this one for a while, sitting patiently. Hasn't quite hit the stop, but I'm thinking that as it gets closer to hitting something worthwhile, more interest will come along.

 

[resourceboom]

Hello, any moderators viewing, can you please delete this thread as it is a duplicate....sorry, thanks for the hassle.