ADI - Adelphi Energy

[HOMER J]

Great looking announcement. EME now up 19%....

http://www.lse.co.uk/SharePrice.asp?shareprice=EME&share=empyrean


think ill get some more ADI tomorrow......

 

[hashertu]

Agentm. Can you please clarify something for me?
On page 27 of the ARC presentation, Sugarkane is labelled as being in the Wilcox Fm (fm is short for what?) and Sugarloaf 1 well is targetting a lower zone.
Are there two separate hydrocarbon targets in the 20,000 acres now under lease?
PS. I am an EME shareholder.

 

[Metron]

Hi All,

Great response from the UK market regarding the EME Announcement (up ~30%), I am having a little trouble understanding how their news relates to Adelphi though...

I know EME is part of our J.V. with TCEI, EKA & AUT so I must be missing something...

How is EME's "TCEI JV Block A # 1" related to our Sugarloaf's 1 & 2?

In their announcement they state..... "TCEI JV Block A #1 well has reached a total depth of 4,400 meters (measured depth). Current operations are preparing to run casing."..... Our Sugarloaf 1 has been in for "ages" and Sugarloaf 2 (Kennedy #1H) has not started yet...

What are EME referring to, because it sounds like their well is still under construction?

Can someone paint a quick overview for me?

Thanks!

 

[Agentm]

Hi All,

Great response from the UK market regarding the EME Announcement (up ~30%), I am having a little trouble understanding how their news relates to Adelphi though...

I know EME is part of our J.V. with TCEI, EKA & AUT so I must be missing something...

How is EME's "TCEI JV Block A # 1" related to our Sugarloaf's 1 & 2?

In their announcement they state..... "TCEI JV Block A #1 well has reached a total depth of 4,400 meters (measured depth). Current operations are preparing to run casing."..... Our Sugarloaf 1 has been in for "ages" and Sugarloaf 2 (Kennedy #1H) has not started yet...

What are EME referring to, because it sounds like their well is still under construction?

Can someone paint a quick overview for me?

Thanks!

i am a bit staggered the connection isnt understood..

i suggest reading the arq presentation recently, the link is about a page back.. also the adi webpage has further info on the sugarkane play.

the play is extensive, we have 20,000 acres of it, and our well at Sl1 had extensive shows with massive pressure kicks..

the kunde 3 well is the first horizontal well that conocophillips has put in, ours, the SL2 well (kennedy 1H) is a replication of that one into the deep sugarkane zones..

you need to do some research i think! or just read the thread back a little, its well and truly been discussed in detail i think..

hashertu

wilcox formation..

and its not accurate.. the best i can tell is its chalks.. with the upper section being austin chalks.. the lower section is also chalk from my understandings.. and its called the sugarkane..

yes there are technically 2 different plays in the chalks,, one is high pressure and the other appears less charged,, both have high liquids.. and i think myself, that the two zones will be treated as seperate plays, and not drilled in the same well.. current focus is on the lower deeper section..can you think of any reason why??? i can..

is there more??? i believe there is, but am not really interested in them to be frank.. only sugarkane!!

 

[Metron]

Thanks for the reply AgentM, but you didn't address my question...

When EME talk about TCEI JV Block A #1 what EXACTLY are they referring to?!

And Yes I have bothered to read back through the Forum, but at 113 pages it is not hard to chew up an awful amount of time...

Anyways, Look forward to someone filling me in on this. If not no problem either, just thought I would ask.

Metron

 

[Agentm]

Thanks for the reply AgentM, but you didn't address my question...

When EME talk about TCEI JV Block A #1 what EXACTLY are they referring to?!

And Yes I have bothered to read back through the Forum, but at 113 pages it is not hard to chew up an awful amount of time...

Anyways, Look forward to someone filling me in on this. If not no problem either, just thought I would ask.

Metron

the well is a well being drilled in the sugarkane by conocophillips,, its called kunde gas unit1 well 3.. 5000 foot horizontal.. eme were allowed to be part of the well by taking a share off TCEI.. if you look at the eme website the details are explained there..

eme are not allowed to call it what it is,, so its called mumbo jumbo well..

cheers.. hope it helps..

 

[Metron]

the well is a well being drilled in the sugarkane by conocophillips,, its called kunde gas unit1 well 3.. 5000 foot horizontal.. eme were allowed to be part of the well by taking a share off TCEI.. if you look at the eme website the details are explained there..

eme are not allowed to call it what it is,, so its called mumbo jumbo well..

cheers.. hope it helps..

Cool Thanks!

So TCEI JV Block A #1 is Kunde 3!

From my understanding a well ADI has no financial interest in. So the EME news is just further positive anecdotal evidence then!?

Thanks, I think I am up to speed with the wells in the area including the XTO wells to the north west of us, but have never had a handle on what the EME mumbo-jumbo block A jibber was all about.

Once again, Thanks!

Metron

 

[cathald1]

Cool Thanks!

So TCEI JV Block A #1 is Kunde 3!

From my understanding a well ADI has no financial interest in. So the EME news is just further positive anecdotal evidence then!?

Thanks, I think I am up to speed with the wells in the area including the XTO wells to the north west of us, but have never had a handle on what the EME mumbo-jumbo block A jibber was all about.

Once again, Thanks!

Metron

I think/Hope (as i am in ADI as well as EME) in the market tomorrow (tonight were i'm from ADI will be found guilty by association.

 

[rolisatosser]

From my understanding a well ADI has no financial interest in. So the EME news is just further positive anecdotal evidence then!?

As an eme holder and an adi holder let me say that it is far more than anecdotal.

You have to spend time coming to terms with this, it needs plenty of reading. You must read. (just to help you, just read Agentm's posts over the last few months)

Kunde3 has no aussie financial involvement, true. But it is crucial to the ozzies. Crucial. It is stage 1 of proving Agentm's research which has been proved to be spot on.

Crucial.

P.S. Rol is a tosser

 

[Agentm]

Current operations are preparing to run casing.

Further updates will be provided as the timing for testing
operations is confirmed.

the announcement was as out of date as the previous one, written a long time after the fact, vetted and sanctioned by CP,, ARQ has been broadcasting the big prospects of ADI all over the shop

yet..... we see delays, and no time frames on future operations,, no comments like the casing operations will commence immediately, or as of tuesday 5pm casing was run to xxxx feet..

perhaps worth thinking about very very hard.. there is plenty Conocophillips can do and plenty they can simply choose not to do..

i wonder what they are up to?


i feel the better informed are waiting for some certain things to happen before entering, it seem the wiser ones are still sitting on the sidelines, Conocophillips can easily just put the whole show on hold for another year again if they want.. maybe they see better gas and oil price horizons in a few years? its really the unknown unknowns that are concerning the me as a holder.. CP can stop all op's and break the back of all the jvp's if they absolutely wanted to..

we have seen 12 months of delays, and now we see the EME well is talking about preparing to do things yet weeks after the real time announcement they dont appear to be doing it..

i understand the partners were told to cash up for the program,, but suddenly they are told to halt..

my attention is still on the kunde well, and also on whats happening around our jvp,, whats the hold up... leases?? weather??

i understand next week we will finally be educated as to how these plays actually look, which means conocophillips is allowing the jvp's to talk it up.. so leases must be signed..

so it leaves only the weather,, and the unknown unknowns in the jvp's..

curious.. and interesting times here..

anyone think this way, or is it just the the aftereffects of too much sun today playing havoc with my mind?? i mean our sp goes down after a brilliant announcement on the sugarkane.. that indicates lack of any support.. thats interesting to me and thats what i want to know about!!

all imho and dyor..

 

[Broadside]

AgentM, the volume wasn't huge today, I wouldn't read much into the weakness. I think the situation we are in now, is that people who have been reading your excellent research (and the research of others on ADVFN thread) and are convinced of the story are now set, and have joined the dots and come to their conclusions. News like we saw last night vindicates the story.

But there are a whole lot more potential investors who may be keen to jump on soon but who aren't comfortable coming to those conclusions yet, they may be more conservative or risk averse - fair enough - and they are waiting to see news from the Aussie JVP's themselves before they take the "leap of faith" and invest. I know you don't see it as a leap of faith, nor do I and a lot of other people already in these stocks and waiting, but some people prefer to wait.

When they get the news from the horse's mouth I think that is when you will see the dam break.

That is how I see it anyway - you have the true believers already in, and a large number of spectators waiting for their own point of confirmation from the companies themselves. Given the secrecy it is not surprising some are reticent to jump on board yet.

Anyway, keep up the great work, it is appreciated.

 

[nioka]

Conocophillips can easily just put the whole show on hold for another year again if they want.. maybe they see better gas and oil price horizons in a few years? its really the unknown unknowns that are concerning the me as a holder.. CP can stop all op's and break the back of all the jvp's if they absolutely wanted to...

Heaven forbid. I guess it is a possibility. Oh well throw them in the bottom drawer and wait it out. It wouldn't be the first time this has happened in the oil industry. Where is J.R. Ewing when we need him. (A reference for the older television watchers.)

 

[mfunksta]

Anyway, keep up the great work, it is appreciated.

I agree. Some of your research has had me marvelling like a broker's report never could. Don't know how you do it.

 

[nioka]

I agree. Some of your research has had me marvelling like a broker's report never could. Don't know how you do it.

There would not be a broker prepared to put as much effort into one stock as Agentm has done. I'll bet even ARQ, AUT and ADI management look up this thread to keep up to date themselves. They should give him a position on the board of all three. I say that in all seriousness.

 

[Agentm]

probably a case of heat stroke here.. so i guess i am becoming a touch impatient..

i dont think there would be one holder that isnt feeling the extreme frustration of the never ending delays..

from all incdications in ADI's release they say:

Due to rescheduling by the contractor providing the frac and testing equipment required for the Sugarloaf 1 well tests, that operation is now expected to commence during the week of 10 September 2007.

there is no way i can find out what frac crew and workover rig is used until after the fact.. I think ADI have gone to great lengths to explain when things will happen.. and obviously TCEI have a specific crew in mind and have rescheduled the time..

the CP delaying the wells and ops for years is basically not possible, its just me being frustrated,, it would be impossible logistically and operationally to do so..

i do wonder about the delays in testing K3,, and i think acreages could still be a factor there, and thats pure speculation..

If SL1 gets any more delays i think ADI will have such a backlash i fdoubt they will answer the phones (ala EME)

There has been 2 years of delays on SL1 well,, so for me i am absolutely not interested in any further delay..

just test the Sl1 well and get it over and done with,, either it flows lousy or it doesnt... it makes no difference,, the commercialiability of the play derives on the success of the horizontals in any case..

2 years is absolutely the end for me... if they make this another 6 months i cant see the sp sustaining any levels like we see today..

bring on the tests and tell us we have or dont have flow...​

 

[Agentm]

just one last correction as i always get these depths wrong..

i was under the impression the 11700 feet was actual depth,, its measured depth.. which means in measured depth the K3 well and SL2 wells are actually drilling into the upper chalks play that kunde 1 is producing from.... due to the well being curved as its drilled , the actual depth is a lot higher..

so both K3 and SL2 are drilling the same depth, into a proven play, and they are drilling the chalks.. and they are drilling into the same levels as the Kunde 1 well is producing from.. so due to the measured depth and actual depth not be the same i again got the zones wrong in the chalks.. so sinceer apologies here..

so the SL2 well and K2 wells are really going to produce from the upper chalks not the lower.. and with kunde 1 producing so poorly, and the kunde 3 well doing what it did during the last 60 days of drilling,, its easy to see how verticals dont cut it in the chalks.. and its easy to see that horizontals can be very exciting if they drill into some nice chalks..

SL2 is going to test the area that was deepest, and that territory was according to the couch logs, gave the biggest kicks. yet kunde 1 tested that zone and found nothing much.

so is that play that Sl1 is about to test in the upper or lower chalks?

"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"​

 

[wallave]

"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"​

Once testing finally starts the above quote will most likely equal more delays in getting results as it will be placed on "long term" production tests. At least that would mean that they are of the beleive that it is commercial!

Just frustrated as most are with the long awaiting action in the share price. I've held for over a year now and pretty keen for some results.

 

[Lucky_Country]

No more delays please we have waited long enough.
Oil at record prices and moving into the northern hemisphere winter should keep prices high.
So much activity in the area we must be on a good thing frac and flow test asap I got bills too pay !

 

[Agentm]

SUGARLOAF PROJECT

Sugarkane​

London AIM market listed Empyrean Energy plc has released further information regarding a well they are participating in with Sugarloaf Operator Texas Crude Energy Inc on land nearby to the Sugarloaf JV acreage. Their release advises:

“​

​

… the TCEI JV Block A #1 well has reached a total depth of 4,400 meters (measured depth).Current operations are preparing to run casing. The horizontal well has continued to encounter encouraging gas shows in addition to fluorescence in the cuttings through to total depth. Gas shows were observed over approximately 2,500 gross feet. Multiple gas flares measuring up to 65 feet were observed over approximately 1,000 feet including an interval of about 600 feet that had a constant gas flare.”

The gas shows and flows while drilling are considered encouraging in terms of the possible existence of permeable natural fracture systems in this productive formation which extends over the Sugarloaf Joint Venture area and the significant adjacent acreage in which Aurora participates (approximately 20,000 acres at Sugarloaf, 20,000 acres at Longhorn and 6,000 acres at Ipanema).

The existence of any such natural fracture systems is likely to improve the potential productivity of horizontal development wells that intersect them, including the soon to be drilled Kennedy-1H well
at Sugarloaf. ​

Sugarloaf-1 Well​

As previously advised the upcoming testing and drilling program for this project is expected to commence during the week of 10 September 2007.​

SEEING IS BELIEVING!!! sorry, couldnt resist

Kennedy-1H​

The rig contracted to drill the next Sugarloaf Project well (Kennedy-1H) is currently on schedule to finish its drilling operations on a third party well by early September. On that basis the Kennedy-1H well is expected to spud by around mid-September.

The timing for both operations remains subject to the timely release of the relevant equipment from current third party operations as well as other factors outside of our control such as weather conditions.​

Further updates will be provided upon commencement of these operations.


its all there... all you have to do is understand what they are saying..

they found some great stuff at kunde!!! thats what they found.. and we are sitting on 20,000 acres of it!!!

enjoy

 

[chance fate]

good news agentm... i liked the direct implication that Kennedy-1H is actually a development well.. not long to wait now... what's a couple more weeks when you've waited a whole year!!!