its been an interesting few weeks, even though on outside appearances nothing much has happened..
Firstly there was the Kunde 3 well announcements, it remained unmentioned for days then the JVP's decided the Kudne news was significant and relates to the sugarloaf well. so we finally get a late announcement days later to tell the markets here that something nice is happening in the conocophillips leases..
Then last week the 800 acres went through 2.5 miles south of the Kunde wells.. and we notice that the AUT announcement did not include these acres in their report.. what can you conclude from that?? why is ourJVP disinterested in 800 acres 2.5 miles south of a horizontal well that had 600 feet of continuos flares, and 65 foot flares and 40 foot flares and flares flares flares????
you have to wonder why.. surely the jvp would love such acreages...???
i have my own ideas about the TCEI boys and conocophillips alliance.. i tend to think the 20,000 acres we have is as much as we will get in the sugarkane proper... perhaps the rest is allocated elsewhere
I have the view we are indeed fortunate here to be on a potentially massive project with conocophillips with
the possible existence of permeable natural fracture systems in this productive formation
i looked at the terms the last acreage was leased out at last week,, lets just say its as good as it gets for a landowner.. and i think our JVP has been single minded in pointing out the importance of the "neighbours well"
If this whole show for all these years, with a worlds top 10 corporation conocophillips on board, with 2 wells shut in (one being pioneers meeks 1), one on production, one lost, and one drilled horizontally, and one sugarloaf 1 well just itching to be tested... that sure makes it tough for me to find any reason to sell right now,, i am holding here!!
with the conference about to start in WA,,, i think this week has potential to be an important week for holders...
also pointed out by JJF in the UK,, conocophillips exploration executive is giving a speech this week in the USA,, besides me, i think a lot of interested ears will be listening,, maybe something will be announced on their thoughts about the live oak play..
http://www.conocophillips.com/newsroom/news_releases/2007+News+Releases/083007.htm
last week we saw the AUT and EKA stock make substantial gains yet our share is doing the reverse,, it will be interesting to see if we will continue to fall throughout the next few weeks or not..
great buying opportunities are around as many understand the conocophillips wells are not allowed to be named, nor the multinational named by the jvp's.. but it will have to change soon and maybe this week there are opportunities for CP and the JVP's to announce some startling news,, i can see two forums where it would easy for them to do it.. lets see if anything comes out of it!!
my view is that CP wouldnt be wasting 5 years of its resources, time and effort on a 170 bcf play!! any oil & gas exploration executive making decisions to do that would be terminated,, i think CP only look at the largest plays left around the place.. a oil & gas giant thats also a top 10 corporation on this globe wouldnt be in on a 170bcf play in my view, i think these chalks are holding something else.. Cp in my view only would spend over 6 years and the vast sums of millions of dollars that they have on multi tcf targets..
all imho dyor