ADI - Adelphi Energy
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chops_a_must
Printing My Own Money
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I have a couple of problems with this, buddy.
Firstly, you aren't a resident here, or as far as I know a citizen, yet you are telling a citizen and resident in this country what not to do. We aren't your colony, and we aren't your subjects.
Secondly, if there are things that management are saying that can't be disclosed publically, then that is grounds for insider trading. If they are saying things that aren't being disclosed to the market, that contravenes the company's obligations and shareholders rights under continuous disclosure regulations.
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hahaha WTF this is laughable!! I hope this is a joke... you just blew your creditability out the window there chops and I find your comment offensive.
I'm sure he now has a problem with you calling him "buddy"...very condescending.
FYI flintoff has contributed plenty to this thread - more than I can say for you. I get the impression you come here just to release steam for your own personal amusment - something no one here appreciates.
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Yeah, take this attitude back to HC. And while you are at it, thank the British for giving you a country, a value system and a sense of humour to call your own you, you convict...hahaha... 
chops_a_must
Printing My Own Money
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The only thing that has been losing steam is the ADI share price.
The first comment was a joke, but none the less, I don't like seeing people being told what to do, especially when they are doing the right thing.
The second of my comments is entirely valid.
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Hi Chops, Might be time to let the cat out of the bag!
Now correct me if I'm wrong, but what many around here may not realise is, that you like to stir the pot a little (in good humour of course, but you often don't let on that its in humour cause that would spoil your fun !! Am i warm? Mmmm ... I think so!!)
Firstly, Myself and Chops have had minimal posts/discussions with each other, so this is purely my own observation/speculation ...., but, I like to think I read people fairly well ...........
You enjoy "pulling peoples chain" , and even though you "stand by" your comments (as above), there is always the "thrill" of "generating a response" ..........
I can handle that ............ Others may not realise your "style", and when its all said and done, you're just commenting with respect to your own makeup/personality .............. so if you like to stir, thats fine with me ........... I personally like to take the more "laid back/respectful" approach, but that is just a reflection of my personality, and is no more correct than yours ............. so ................
There is no need to take offence to what Chops (or anyone else) says on a forum site, BUT, imo, treat everyone with respect until they deserve otherwise ............
So Chops, I hereby give you the "spoon" award for the resident stirrer ........... and after all, what else would you expect from a drummer!!!!
PS This is probably not the best thread to be "stirring" people, cause most of us ADI holders are suffering a bit at the moment (myself included) Cheers to all, and sorry for the ramblings.
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5.3 There are some exceptions to the requirement to disclose information
to the ASX, as set out in ASX listing rule 3.1A:
“[The obligation to disclose] does not apply to particular information
while all of the following are satisfied.
· A reasonable person would not expect the information to be
disclosed.
· The information is confidential and ASX has not formed the view
that the information has ceased to be confidential.
· One or more of the following applies.
o It would be a breach of a law to disclose the information.
o The information concerns an incomplete proposal or
negotiation.
o The information comprises matters of supposition or is
insufficiently definite to warrant disclosure.
o The information is generated for the internal management
purposes of the entity.
o The information is a trade secret.”to the ASX, as set out in ASX listing rule 3.1A:
“[The obligation to disclose] does not apply to particular information
while all of the following are satisfied.
· A reasonable person would not expect the information to be
disclosed.
· The information is confidential and ASX has not formed the view
that the information has ceased to be confidential.
· One or more of the following applies.
o It would be a breach of a law to disclose the information.
o The information concerns an incomplete proposal or
negotiation.
o The information comprises matters of supposition or is
insufficiently definite to warrant disclosure.
o The information is generated for the internal management
purposes of the entity.
there is no certanty in the O&G game, just a chance of things that could happen..
therefor its near impossible to announce anything unless your certian as you can be, and sometimes you are and still things go wrong and you lose a well..
ADI has a high risk high reward profile on most of its wells it has on the books..
hence we get little reporting as you may see on other companies disclosures..
the more confident you are the better you may want to disclose..
AZZ declared the NT well a discovery, and now they look rather stupid, i quizzed adi on why they wouldnt follow suit, and they thought there was insufficient data to announce the well as a discovery, and in hindsight they were correct. AZZ has seen a 25% correction on their sp since the announcement the 16000 play was sub commercial.. we still await a decision on the 14000 play..
ADI have a very pro conservative stance.. everyone is blatently aware of the fact there is a massive play under the jvp's leases, but unfortunately its not proven, and being explored and analysed constantly by the jvp's.. Until some success is made in the Sl1 and block A wells, then its not possible for the jvp's to disclose a great deal of anything.. If you research the logs from couch, and then research the austin chalks, and understand why horizontal drilling is so paramount for sustained commercial flow, and if you calculate the acreage the jvp's have and do a little maths, you begin to see how large a play this can become, but unless you can unlock the chalks with effective wells, then your sitting on a play that vertical drilling will struggle to get the reserves out, horizontal does a lot more for the profitibilty of a well if done correctly and if your geology is spot on..
but in saying that, having a major oil company successfully producing from a vertical production well on block a already, the chances of success on the horizontal are significant, and as we have the same turf, and the same play... it gives the appearance that the amount of effort and dollars spent so far on this play has got to have some credibilty.. thats why i hold..
all imho and dyor
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i was checking out the sugarloaf leases on the weekend that TCEI and the jvp's have secured, and was blown away with the size of the prospect. They have certainly would have raised some eyebrows when they suddenly put all the leases.. So the first part is done, and now there is clearly nothing stopping the future of SL.. permits can now be put in and wells can be drilled on the permits.
Looking at block A is was equally impressed with the size of the play there.. right next door to the production well, the recently drilled block A horizontal well is finished and being tested.. the results of that well will guide the jvp's in the right direction on how to drill the plays they are after.
Interesting that there is also a top 10 US gas producer with 2 production wells and a further 4 wells being drilled or completed right now on the very edges of our leases. then theres pioneer making some announcements of their successes in the area, and circling the leases also.. some wells are on production and others are about to be.. abnd they talk of extending pipelines into the region also..
It seems at the depth we are at, i see all the wells going in are 100% successful, commercial and all producing, no P&A,, yet you look at other wildcat wells on the go in the area at different depths, and you get a different picture.. absolutely not 100% successes.. is that the indications of a proven play or what??
I am holding right to the end on this one, once you see a top 10 corporation of the world with you on a play as big as these leases are, and you see how many wells they have been drilling and the dollars spent, i have little doubt from my research that there is a lot going on and commercial wells are going in all over the shop...
I saw that TCEI has been on this for 12 years or more, i can see that in my research, they sure have had a lot of time in the area.. and i see they are now in a position where they have the lions share of the acreage in the region. they jvp we are in has over 20,000 acres alone.. and thats only a part of it!! the TCEI appraoch to getting their facts right, then buying acreage once they knew what was what, has been planned with precision, and the jvp's have the use of all the technology, expertise and the full understandings from all the testing that the major oil company has done, and is currently undertaking..
i look at what they have done over the past decade, and look at what TCEI is doing now in the region, and it shows all the signs of a major project about to happen..
imho in about 4 weeks or so we have a different profile on ADI,, as testing results have to be announced, its easy to understand the delays at SL, but its very very bullish to be securing the acreage the jvp's have, and be bound to that many leases across the county..
for me the most impressive thing i got out of checking the entire area out is the size of it, the amount of wells producing right now all around the leases, the fact no one has been drilling to the depth TCEI and the jvp's are in the leases before, it seems to have all the indications of a pretty impressive discovery written all over it..
I cant see that this is a 150bcf play, i would expect maybe 2% of the activity and leases these guys have taken out and we would never see a jvp like what is happening here, with massive investments in the area by a major oil company.. i just cant see TCEI would be spending the time and resouces with a majpr oil company and buying the leases they have all for a measly 150bcf!!??!!
somethings happening in texas alright.. big time.. adi is great value imho
as usual all IMHO and DYOR
Looking at block A is was equally impressed with the size of the play there.. right next door to the production well, the recently drilled block A horizontal well is finished and being tested.. the results of that well will guide the jvp's in the right direction on how to drill the plays they are after.
Interesting that there is also a top 10 US gas producer with 2 production wells and a further 4 wells being drilled or completed right now on the very edges of our leases. then theres pioneer making some announcements of their successes in the area, and circling the leases also.. some wells are on production and others are about to be.. abnd they talk of extending pipelines into the region also..
It seems at the depth we are at, i see all the wells going in are 100% successful, commercial and all producing, no P&A,, yet you look at other wildcat wells on the go in the area at different depths, and you get a different picture.. absolutely not 100% successes.. is that the indications of a proven play or what??
I am holding right to the end on this one, once you see a top 10 corporation of the world with you on a play as big as these leases are, and you see how many wells they have been drilling and the dollars spent, i have little doubt from my research that there is a lot going on and commercial wells are going in all over the shop...
I saw that TCEI has been on this for 12 years or more, i can see that in my research, they sure have had a lot of time in the area.. and i see they are now in a position where they have the lions share of the acreage in the region. they jvp we are in has over 20,000 acres alone.. and thats only a part of it!! the TCEI appraoch to getting their facts right, then buying acreage once they knew what was what, has been planned with precision, and the jvp's have the use of all the technology, expertise and the full understandings from all the testing that the major oil company has done, and is currently undertaking..
i look at what they have done over the past decade, and look at what TCEI is doing now in the region, and it shows all the signs of a major project about to happen..
imho in about 4 weeks or so we have a different profile on ADI,, as testing results have to be announced, its easy to understand the delays at SL, but its very very bullish to be securing the acreage the jvp's have, and be bound to that many leases across the county..
for me the most impressive thing i got out of checking the entire area out is the size of it, the amount of wells producing right now all around the leases, the fact no one has been drilling to the depth TCEI and the jvp's are in the leases before, it seems to have all the indications of a pretty impressive discovery written all over it..
I cant see that this is a 150bcf play, i would expect maybe 2% of the activity and leases these guys have taken out and we would never see a jvp like what is happening here, with massive investments in the area by a major oil company.. i just cant see TCEI would be spending the time and resouces with a majpr oil company and buying the leases they have all for a measly 150bcf!!??!!
somethings happening in texas alright.. big time.. adi is great value imho
as usual all IMHO and DYOR
UPDATE. interesting reading re the sugarkane field nearby...
11 July 2007
Company Announcements Platform
Australian Stock Exchange Limited
Exchange Centre
20 Bond Street
SYDNEY NSW 2000
Via ASX Online
SUGARLOAF PROJECT UDPATE
Sugarloaf-1 Well
The rig required to undertake remedial cementation and formation testing has arrived on
site. Remedial cementation operations will start immediately and could take up to three
weeks to complete. This will be followed by fracture stimulation and flow testing of each
of the three zones of possible gas pay, identified from wire-line logs and gas shows in
carbonate rocks of Cretaceous age.
For engineering reasons the deepest zone will be tested first. Should any of the zones of
interest produce hydrocarbons at commercial rates, it is likely that the zone would be
placed on long term production test to assess reservoir performance.
Sugarkane Gas Field
The upper zone of possible gas pay in the Sugarloaf-1 well is believed to correlate with
the producing zone in a competitor company’s new field discovery well, located 6.6
kilometres west of the Sugarloaf-1 well. The new discovery is known as the Sugarkane Gas
Field (“Sugarkane Field”). Adelphi has no interest in the discovery well or the lease
holdings immediately surrounding that well. Details of the discovery are not available but
the well is vertical and is believed to have been producing gas and condensate
continuously for more than eight months.
Although the upper zone of possible pay in the Sugarloaf-1 well has not yet been flow
tested, on wire-line log, gas log and regional seismic interpretation grounds, the upper
zone in Sugarloaf-1 appears to be within the Sugarkane Field.
Study of regional seismic and well information by Texas Crude Energy Inc. (“TCEI” –
operator of the Sugarloaf Joint Venture) suggests the Sugarkane Field is extensive and, as
recently announced, the Sugarloaf Joint Venture has now secured a total of around
20,000 acres of leases (of which Adelphi has a 20% interest) which cover portion of the
interpreted eastern extension of the Sugarkane Field. These leases provide rights to all
depths. The leasing of the Sugarloaf acreage was carried out in competition with several
USA oil and gas companies, including at least one major oil company.
2
Proposed Sugarloaf-2 Well
As leasing of acreage is now essentially complete, the Sugarloaf Project Operator (TCEI)
has proposed the drilling of a second well, located about 1.6 kilometres from the
Sugarloaf-1 well.
The well is an exploration well and is proposed to be drilled vertically to just above the
target and then horizontally for 5,000 feet (1,524 metres) in the target upper zone of
possible gas pay defined in Sugarloaf-1. As already mentioned, this is the zone which is
believed to correlate with the producing section in the Sugarkane Field discovery well.
Horizontal drilling has been selected, as successful horizontal wells commonly produce at
rates several times that of a vertical well at the same point in the reservoir.
A suitable rig has been identified and subject to Joint Venture approval and execution
of relevant documentation, is expected on location about the end of August. Adelphi’s
20% share of dry hole costs are approximately US$720,000 based on a gross estimated
dry hole cost of US$3.6 million for this well. Total well completion costs are estimated at
US$1.65 million (Adelphi share US$330,000).
Adelphi has a 20% working interest in the Sugarloaf Project through its wholly-owned US
subsidiary Adelphi Energy Texas, Inc.
For further information please contact Alex Forcke on 08-9263 4600 or
info@adelphienergy.com.au
Yours faithfully
ALEX FORCKE
Executive Chairman
Adelphi Energy Limited
11 July 2007
Company Announcements Platform
Australian Stock Exchange Limited
Exchange Centre
20 Bond Street
SYDNEY NSW 2000
Via ASX Online
SUGARLOAF PROJECT UDPATE
Sugarloaf-1 Well
The rig required to undertake remedial cementation and formation testing has arrived on
site. Remedial cementation operations will start immediately and could take up to three
weeks to complete. This will be followed by fracture stimulation and flow testing of each
of the three zones of possible gas pay, identified from wire-line logs and gas shows in
carbonate rocks of Cretaceous age.
For engineering reasons the deepest zone will be tested first. Should any of the zones of
interest produce hydrocarbons at commercial rates, it is likely that the zone would be
placed on long term production test to assess reservoir performance.
Sugarkane Gas Field
The upper zone of possible gas pay in the Sugarloaf-1 well is believed to correlate with
the producing zone in a competitor company’s new field discovery well, located 6.6
kilometres west of the Sugarloaf-1 well. The new discovery is known as the Sugarkane Gas
Field (“Sugarkane Field”). Adelphi has no interest in the discovery well or the lease
holdings immediately surrounding that well. Details of the discovery are not available but
the well is vertical and is believed to have been producing gas and condensate
continuously for more than eight months.
Although the upper zone of possible pay in the Sugarloaf-1 well has not yet been flow
tested, on wire-line log, gas log and regional seismic interpretation grounds, the upper
zone in Sugarloaf-1 appears to be within the Sugarkane Field.
Study of regional seismic and well information by Texas Crude Energy Inc. (“TCEI” –
operator of the Sugarloaf Joint Venture) suggests the Sugarkane Field is extensive and, as
recently announced, the Sugarloaf Joint Venture has now secured a total of around
20,000 acres of leases (of which Adelphi has a 20% interest) which cover portion of the
interpreted eastern extension of the Sugarkane Field. These leases provide rights to all
depths. The leasing of the Sugarloaf acreage was carried out in competition with several
USA oil and gas companies, including at least one major oil company.
2
Proposed Sugarloaf-2 Well
As leasing of acreage is now essentially complete, the Sugarloaf Project Operator (TCEI)
has proposed the drilling of a second well, located about 1.6 kilometres from the
Sugarloaf-1 well.
The well is an exploration well and is proposed to be drilled vertically to just above the
target and then horizontally for 5,000 feet (1,524 metres) in the target upper zone of
possible gas pay defined in Sugarloaf-1. As already mentioned, this is the zone which is
believed to correlate with the producing section in the Sugarkane Field discovery well.
Horizontal drilling has been selected, as successful horizontal wells commonly produce at
rates several times that of a vertical well at the same point in the reservoir.
A suitable rig has been identified and subject to Joint Venture approval and execution
of relevant documentation, is expected on location about the end of August. Adelphi’s
20% share of dry hole costs are approximately US$720,000 based on a gross estimated
dry hole cost of US$3.6 million for this well. Total well completion costs are estimated at
US$1.65 million (Adelphi share US$330,000).
Adelphi has a 20% working interest in the Sugarloaf Project through its wholly-owned US
subsidiary Adelphi Energy Texas, Inc.
For further information please contact Alex Forcke on 08-9263 4600 or
info@adelphienergy.com.au
Yours faithfully
ALEX FORCKE
Executive Chairman
Adelphi Energy Limited
Lucky_Country
Formerly known as ijh
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Talking it up thats not like Alex's style he must be confident !
All the pieces in the jigsaw seem complete now lets see the picture !
All the pieces in the jigsaw seem complete now lets see the picture !
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the picture matches all my research perfectly.. matches all permits and pre permits..
I know exactly what they are talking about and where they are drilling..
Sugarkane is a producing field, and proven, and we are drilling right on their doorstep..
this is remarkable, a new well before they have tested SL1!!!
if your holding i suggest you wait a while before selling,, you may be in for a real shock once you realise how big this field is..
TCEi and the JVP's have got a massive amount of leases..
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...so far so good... 2nd well is an exploration well - presumably not contingent on success at SL1... but still depends on JV approvals - tho' looks like they won't have announced this intention unless there is a strong likelihood of proceeding (imo).... does anyone know the interval thickness of the upper level... would be interesting to calc the potential reserves based on say half the acquired acreage being equal to reservoir area... would estimate 200 Bcf per 10m... so sp potentially a couple of $'s down the track??? oh and please hurry up adi before the operators of the adjacent acreage deplete the field!!!!
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Does anyone know what the results were from the Sugarkane operators drilling progam was?
Surely, they must have had an idea of the size of the potential??
Surely, they must have had an idea of the size of the potential??
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yep, have been watching it for months..
there are 2 production wells north of our leases and xto have 4 wells being drilled right now in a east west direction directly in line with our wells.
pioneer have a well to the west of the field, and is about to go on production.. legend and enduring are chasing the play to the south, some wells are being drilled some are alreadyu on production..
the major oil company has a production well vertical and now the horizontal.. and one other that i wont discuss yet until later..
There is no doubt the play is significant, in terms of miles between all the different oil companies wells the distance is vast.. and i looked hard at the TCEI leases and the major oil company's leases, and they have it all sewn up..
wait for EME now, they will have to annouce more on the 16 wells now.. so expect some breaking news there,, the best thing is the horizontal is proven and therefor the jvp's are going ahead..
if only you knew how much oil and gas these wells are capable of producing..
5000 feet horizontal... on the sugarkane discovery!!
thats some well!!!!
there are 2 production wells north of our leases and xto have 4 wells being drilled right now in a east west direction directly in line with our wells.
pioneer have a well to the west of the field, and is about to go on production.. legend and enduring are chasing the play to the south, some wells are being drilled some are alreadyu on production..
the major oil company has a production well vertical and now the horizontal.. and one other that i wont discuss yet until later..
There is no doubt the play is significant, in terms of miles between all the different oil companies wells the distance is vast.. and i looked hard at the TCEI leases and the major oil company's leases, and they have it all sewn up..
wait for EME now, they will have to annouce more on the 16 wells now.. so expect some breaking news there,, the best thing is the horizontal is proven and therefor the jvp's are going ahead..
if only you knew how much oil and gas these wells are capable of producing..
5000 feet horizontal... on the sugarkane discovery!!
thats some well!!!!
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i guess forthose who dont read other forums.. this is important
enjoy..
Safiande - 11 Jul'07 - 07:17 - 43784 of 43788
This is a bit of background on Sugarkane which is in the public domain.
BURLINGTON RESOURCES O & G CO LP is a subsidiary of ConocoPhillips ( COP ) & was bought by COP last year.
This well which is horizontal is probably the first well in the 16 well deal with TCEI & referred to in the EME RNSs on 10 May & 21 Jun. The currently producing well ( non EME interest ) is vertical:-
“LIVE OAK COUNTY
ConocoPhillips Company of Houston has filed for a permit to horizontally drill the No. 3 Kunde in the Sugarkane (Cretaceous) field. With a proposed total depth of 12,200 feet, the well will be in Section 31 of the J. F. Hulzar Survey A-221.
Source: RigMatch Information Services, Inc., Palestine , TX ”
http://www.caller.com/ccct/oil_gas_report/article/0,1641,CCCT_832_5414609,00.html
SUGARKANE (CRTCS) (G) DRILL (HORZ)(37) Well# 3 KUNDE. NO. 1 GAS UNIT, SHL: 1128 FSL 253 FEL BHL: 4567 FSL. 3664 FEL, SEC 120, J INGRAM SUR., A-26112200',
http://www.oilonline.com/key/drill_reports_update_0307.pdf
enjoy..
Safiande - 11 Jul'07 - 07:17 - 43784 of 43788
This is a bit of background on Sugarkane which is in the public domain.
BURLINGTON RESOURCES O & G CO LP is a subsidiary of ConocoPhillips ( COP ) & was bought by COP last year.
This well which is horizontal is probably the first well in the 16 well deal with TCEI & referred to in the EME RNSs on 10 May & 21 Jun. The currently producing well ( non EME interest ) is vertical:-
“LIVE OAK COUNTY
ConocoPhillips Company of Houston has filed for a permit to horizontally drill the No. 3 Kunde in the Sugarkane (Cretaceous) field. With a proposed total depth of 12,200 feet, the well will be in Section 31 of the J. F. Hulzar Survey A-221.
Source: RigMatch Information Services, Inc., Palestine , TX ”
http://www.caller.com/ccct/oil_gas_report/article/0,1641,CCCT_832_5414609,00.html
SUGARKANE (CRTCS) (G) DRILL (HORZ)(37) Well# 3 KUNDE. NO. 1 GAS UNIT, SHL: 1128 FSL 253 FEL BHL: 4567 FSL. 3664 FEL, SEC 120, J INGRAM SUR., A-26112200',
http://www.oilonline.com/key/drill_reports_update_0307.pdf
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ok thanks AgentM... ConocoPhilips is the major next door.... don't know if it's significant but couldn't help notice the descrepancy in the location description of the Kunde no.3 well..:
ConocoPhillips Company of Houston has filed for a permit to horizontally drill the No. 3 Kunde in the Sugarkane (Cretaceous) field. With a proposed total depth of 12,200 feet, the well will be in Section 31 of the J. F. Hulzar Survey A-221.
SUGARKANE (CRTCS) (G) DRILL (HORZ)(37) Well# 3 KUNDE. NO. 1 GAS UNIT, SHL: 1128 FSL 253 FEL BHL: 4567 FSL. 3664 FEL, SEC 120, J INGRAM SUR., A-26112200', (J Ingram Survay A-261)
ConocoPhillips Company of Houston has filed for a permit to horizontally drill the No. 3 Kunde in the Sugarkane (Cretaceous) field. With a proposed total depth of 12,200 feet, the well will be in Section 31 of the J. F. Hulzar Survey A-221.
SUGARKANE (CRTCS) (G) DRILL (HORZ)(37) Well# 3 KUNDE. NO. 1 GAS UNIT, SHL: 1128 FSL 253 FEL BHL: 4567 FSL. 3664 FEL, SEC 120, J INGRAM SUR., A-26112200', (J Ingram Survay A-261)
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ok thanks AgentM... ConocoPhilips is the major next door.... don't know if it's significant but couldn't help notice the descrepancy in the location description of the Kunde no.3 well..:
ConocoPhillips Company of Houston has filed for a permit to horizontally drill the No. 3 Kunde in the Sugarkane (Cretaceous) field. With a proposed total depth of 12,200 feet, the well will be in Section 31 of the J. F. Hulzar Survey A-221.
SUGARKANE (CRTCS) (G) DRILL (HORZ)(37) Well# 3 KUNDE. NO. 1 GAS UNIT, SHL: 1128 FSL 253 FEL BHL: 4567 FSL. 3664 FEL, SEC 120, J INGRAM SUR., A-26112200', (J Ingram Survay A-261)
Ok, its a little complex, but basically Conocophillips put in the permit for the kunde 1 well, and made a big mistake, then quickly had the permit changed to burlington resources..
they drilled the kunde 1 well, which was a success on the vertical..
then last year came kunde 2, (same rig as SL1- hence the delays for SL1 last year) i notice in the UK forums they are noticing this well and trying to figure out and cant get their heads around it.. i can say my research showed that kunde 2 was a twin well, CP had wanted to do further testing and twinned the first well, and did do some extensive testing, the well was subsequently shut in.
From that CP and TCEI had the understandings to confidently drill a third well, Kunde 3, this time horizontal. it was spudded 21st may 2007 is currently working on being completed..
From the results of that well we see TCEI and our JVP going ahead with sugarloaf 2, SL1 & 2 are on the SUGARKANE field, if you look at the well logs for SL1 you will notice they have the same plays at the exact same depth as the Kunde wells.. we have a pretty big field happening here so far and its only the start..
Now i cant vouch for the RCC figures about kunde 1, but i can say i have heard from other sources the well is going very good, and I can imagine the Kunde 3 horizontal well has delivered all they really expected.
SL2 is half way between SL1 and Kunde 1&3,, so maybe a touch over 2 miles each direction, and in a direct line between the two wells. so smack in the middle. they are going horizontal for the same zone that kunde 1 and 3 have, and the same sugarkane play we have at SL1.. so it no wildcatter, its more of a infill well..
Now i have seen how extensive CP leases are going west into live oak, and i have seen how extensive TCEI has been in the eastern corner part of live oak and the western quarter of karnes.. so i can also conclude from the 2ds that cp did a long while back, that where the leases are being bought, are more or less where the areas of interest are and follows the 2d's pretty accurately..
i have to say i think ADI has been very very bullish and has been very honest in saying they have snapped up with TCEI the eastern zones of the sugarkane play. competing heavily against CP and a bunch of other big operators. it confirms all my research from the last months or more, and matches up to all the permits, pre permits, and leases bought by CP and TCEI perfectly. so CP are at their far eastern aspect of their leases, and we are in the far western aspects of ours...
SL2 is as i say no wildcat, its a development well.. make no mistake if your a holder and thinking of selling,, understand the JVP's are very very bullish and have every right to expect great success in the middle of the two zones of interest. but in no way is it defining the overall size of the field. we may have a good fifth or so, or maybe a quarter of the field? who knows.. each well has been a success, each part of the development of the field signalled the next phase to commence..
i fully expect EME to announce further wells with CP in the near term, if TCEI is doing it on our leases then CP will be doing it on theirs.. gradually spreading outwards no doubt initially, then later a 16 well program to define the entire field.. SL2 will be part of the picture, part of the equation, as will SL1 when its fianlised, as i said before, just a test well,, i am sure some horizontals will have to follow at SL1 at some stage..
you dont do stuff like this unless you have done extensive 3d's and your have really got a good grip on the potential of the play and a lot of confidence in your research.. ADI have indicated extensive flow tesing of the SL1 well,, there are good reasons for that.. everything has a reason and i am extremely happy with firstly and foremost TCEI, and the management at ADI and ARQ.. brilliant work so far..
if your a holder of ADI or any of the jvp's, think real careful about the potentail of these wells,, this isnt 150bcf type stuff, there is a lot going on and truck load of secrecy so far, and if you believe thats over 150bcf then i think your being a little to conservative.. is a real chance of 500bcf and possibly tcf coming into the equation on 20,000 acres... i am certainly hoping for the latter..
great to see that ADI have bee given the green light to spread the word..
all news that i see is absolutely brilliant.. if ADI did not announce SL2 i was going to sell out.. as it would have meant the horizontals were not going to be a success.. now i am going to hold for a long long time..
hope it helps..
this share should be going bluesky.. i see alot more reasons to see this sp go crazy than what i have ever seen from the gdn senario.. we have a proven discovery called sugarkane...
wake up..
cheers
