ADI - Adelphi Energy

[Evangeline]

Tomorrow we may get an update on SL1 and Kennedy.

Looking in the Bell Potter report:

"The Sugarkane discovery well....owned by Connoco-Phillips and TCEI...has been producing gas and condensate for the past year ..."

Then in the AUT presentation:

"Sugarloaf1 logs and shows identical to the Sugarkane discovery well"

It does seem promising...

Eva

 

[Agentm]

eva,, i thought you were on top of the top 20 list

trojan make their move,, the recent share buying is trojan capital and trojan retirement fund..

so the boys are in finally!!!

welcome aboard.. and enjoy the ride..

i like the way troy works..


i think once he arrives others will follow!!


TROY JOHN HARRY - MANAGING DIRECTOR

The Manager's officer primarily responsible for making investment decisions is Troy Harry.
Troy Harry is the founder and Managing Director of the Manager. He has a deep understanding of the Australian stock market, with more than 13 years experience in the Australian securities industry.
From April 1998 until July 2003, Troy was employed by ABN AMRO Morgans Limited in Brisbane where he advised a range of mostly high net worth individuals and small institutions. The advice provided was mostly regarding special situations identified by Troy and he developed a reputation among his clients for being able to identify undervalued asset situations. In July 2003, Troy resigned from ABN AMRO Morgans Limited to concentrate his efforts on his own business.
Concurrently with his roles at ABN AMRO Morgans Limited and Trojan Investment Management Pty Ltd, from November 2002 to June 2004, Troy acted as Managing Director of Harbour Capital Limited ('Harbour') (now Metals Exploration Limited). Harbour was an investment company listed on ASX with investments in royalties in Western Australia and private equity investments in greater China. Troy oversaw a significant corporate restructuring during his time at Harbour, with Harbour's share price rising from $0.35 at the date of his appointment to $0.76 at the date of his retirement.
Troy is a director of a number of private companies and is a former director of several ASX listed companies. He has experience in financial analysis, modelling and structuring, and in advising and managing investment companies.
He holds a Bachelor of Business (Banking and Finance) degree from the Queensland University of Technology and is a Fellow of the Financial Services Institute of Australia and a Fellow of the Australian Institute of Company Directors.

 

[Evangeline]

I wish!

However I did a print out dated 11th September of the top 20 and Trojan had already bought in then- 900k for the retirement fund and 500k for the Capital fund.

So whoever was buying on Monday was not Trojan. Mr Thomas Brian Cannon has been steadily buying up -from 550k on 24th of August to 698k as of 24th September. ANZ have bought a few more and so has Citicorp - but only a few k here and there.

 

[Agentm]

I wish!

However I did a print out dated 11th September of the top 20 and Trojan had already bought in then- 900k for the retirement fund and 500k for the Capital fund.

So whoever was buying on Monday was not Trojan. Mr Thomas Brian Cannon has been steadily buying up -from 550k on 24th of August to 698k as of 24th September. ANZ have bought a few more and so has Citicorp - but only a few k here and there.

ok.. my mistake.. your off the hook for now..


would be nice to get a mid week operational report happening again.. i imagine the patterson rig crew are at their finest (fingers crossed)

no news is good news for me at the moment on SL1..

 

[Evangeline]

Well it doesn't look like we'll be getting an update today. The last couple of weeks they've arrived just after 2.00

Hopefully it means they're very busy testing the flow!

 

[resourceboom]

The AUT update today conspicuously had no metion of any kane or kennedy update!! the wait goes on still!!

 

[Agentm]

resource,

my data tells me they are no further than 6100 on the kennedy 1H well, when they get to 6100 they will cement it back to the surface. once thats done its a 8 3/4 bit to 11658, taking 12 days , then a 4 day turn to 12,600 (MD).. hey thats odd! thats almost the same depth as kunde 2!!

SL1, is news blackout... and for good reasons too!

cheers

 

[Evangeline]

What do you mean - "For good reasons too" - what motivation could they have now for keeping everyone in the dark?

 

[Agentm]

What do you mean - "For good reasons too" - what motivation could they have now for keeping everyone in the dark?

its essential to keep everyone in the dark..

look at the announcements GDN have made over the past 12 months, look closely at the bold and highlighted sections, and the overuse of the word commercial.

eva, the chalks are not like the edwards or wilcox, they are very tricky plays. TCEi would not release any news, so remember that. CP allows no news to surface.. ADI has to release according to the rules of the ASX, so look at the sept 2006 releases of adi and how the announced what they then understood to be potentially a multi tcf play!

what if adi hyped it like GDN,, got the sp to $1.50 or more?? then afterwards go it all wrong, the investors at the $1.50price would be furious as the sp collapsed to .35...

GDN went to $1.20 and back to .10 in a heartbeat!!

the area they are testing is significant, very important to CP TCEi and to our JVP, we have to be sure about the zone 3 play, 100% sure when your talking the sort of dollars that are about to flow in the forward well program.. so a news blackout is absolutely critical right now, any leaks would be foolish.

ADI have investors who dont like and dont really need massive sp fluctuations, they are waiting for results, definititive results, then at each stage of the program they can make decisions to either increase of decrease their exposure, and lately you have picked up some increases!!

eric would never allow foolish announcements, he is reponsible for ARQ also, so we see conservative approaches to the sugarkane, and we see very very cautious reporting.. with a recent flavour of bullishness..

think of the three zones as seperate zones, one is absolutely proven, we are drilling into that with kennedy 1H..

what will happen if the SL1 well gets commercial flow or flow that going to be commercial with the use of horizontals?? do we get naming rights??

think laterally, think about the name of the well,, think about what couchys remark on what first phase success meant!! to me it meant sugarkane was the success multi tcf.. but the well isnt called suagrkane, its sugarloaf!! so whats its objective!! i leave that to you to ponder!! i have my own ideas about that..

this well, this play has massive upside potential.. and right now there is no way any early news could be favourable to anyone..

no news is good news!!

 

[Agentm]

and we can still expect no more news for a while longer..

SUGARLOAF OPERATIONS UPDATE ​

Kennedy #1H
Adelphi Energy Limited advises that at 6am Texas time on 26 September, 2007 the Kennedy #1H exploration well, located in the onshore Gulf Coast Basin in Texas, USA was at a depth of 6,100’ (1,860 metres) and installing blow out preventers after having run and cemented casing. The proposed total depth for this well is 17,570 feet Measured Depth.
Sugarloaf-1 Well
Since our last report of 19 September frac sand (proppant) has been drilled and washed from the well bore. Operations were then suspended pending repair of surface equipment. Running of tubing for flow testing the first zone is expected to commence after repairs are completed.
Further ASX announcements will be made as results from this test become available.

 

[wallave]

Sugarloaf-1 Well
Since our last report of 19 September frac sand (proppant) has been drilled and washed from the well bore. Operations were then suspended pending repair of surface equipment. Running of tubing for flow testing the first zone is expected to commence after repairs are completed.
Further ASX announcements will be made as results from this test become available.


I wonder what the timeframe for the repairs to be completed. Probably a couple of weeks I'd assume.

 

[Agentm]

if it was a major rig repair then there would have been more details given, most rigs are bolt on bolt off type of units, and its just a case of running down the road to your local store and picking up a 200 hp pump or a mud logger or what ever off the shelf and putting in on the F100 and bolting it on!!

its most likely days only in delays..

we had a perfect run in the drill, the screen out is beyond anyones ability to predict, its happened, and could have been a number of factors there.

the rig repair, thats always going to happen in drilling opertions, thats not a big deal in any case. just an inconvenience..

the well is being prepared for a flow test, which means the cleanout was successful, they tested the wells integrity, and we are not hearing they have to redo the cement squeeze, so the reasons for the screenout are narrowing down into the more positive regions in my view. (geology rather than well failure)

cant see any negative news here today. only gives a slightly more optimistic view on the screenout perhaps.

 

[tarzanhey]

if it was a major rig repair then there would have been more details given, most rigs are bolt on bolt off type of units, and its just a case of running down the road to your local store and picking up a 200 hp pump or a mud logger or what ever off the shelf and putting in on the F100 and bolting it on!!

its most likely days only in delays..

we had a perfect run in the drill, the screen out is beyond anyones ability to predict, its happened, and could have been a number of factors there.

the rig repair, thats always going to happen in drilling opertions, thats not a big deal in any case. just an inconvenience..

the well is being prepared for a flow test, which means the cleanout was successful, they tested the wells integrity, and we are not hearing they have to redo the cement squeeze, so the reasons for the screenout are narrowing down into the more positive regions in my view. (geology rather than well failure)

cant see any negative news here today. only gives a slightly more optimistic view on the screenout perhaps.

THIS ONE SOUNDS BETTER.

Empyrean Energy Sugarloaf Update


RNS Number:5976E
Empyrean Energy PLC
27 September 2007



Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker: (EME))

Sugarloaf Prospect, ("Sugarloaf"), Blocks A & B, Texas USA
----------------------------------------------------------


TCEI JV Block A-1 Well
----------------------

The operator has advised that the fracture stimulation and testing of the zones
of interest that produced multiple hydrocarbon shows and gas flares in the TCEI
JV Block A-1 Well, during drilling, may involve specialist monitoring and
interpretation techniques that require equipment to be placed in a nearby well
bore during the fracture stimulation operations. At this stage the operator
intends to use the TCEI JV Block A-2 Well, for this specific purpose. The
information gained from this analysis will assist the operator in determining
the efficacy of the fracture stimulation techniques and further help to
establish the best way to develop the reservoir. Fracture stimulation and
testing operations will therefore likely commence on the TCEI JV Block A-1 Well
following the completion of drilling the TCEI JV Block A-2 Well. It is not
expected that this will affect the potential prospects for the TCEI JV Block A-2
Well in any way. The whole process is designed to maximise potential
productivity by utilising the best modern day techniques available.


Sugarloaf-1 Well (Block B)
--------------------------

Since our last report of 19 September Texas Crude Energy Inc ("TCEI") advises
that frac sand (proppant) has been drilled and washed from the well bore.
Running of tubing for flow testing the first zone is expected to commence
shortly.


Kennedy #1H Well (Block B)
--------------------------

TCEI has also advised that that at 6am Texas time on 26 September, 2007 the
Kennedy #1H exploration well, located in the onshore Gulf Coast Basin in Texas,
USA was at a depth of 6,100' (1,860 metres) and installing blow out preventers,
before preparing to drill ahead, after having run and cemented casing
successfully. The proposed total depth for this well is 17,570 feet Measured
Depth.

Further updates will be provided following developments.

The information contained in this announcement was completed and reviewed by the
Technical Director of Empyrean Energy Plc, Mr Frank Brophy BSc (Hons) who has
over 40 years experience as a petroleum geologist.

For further information:

Jonathan Charles / Ed Portman
Conduit PR
Tel: +44 (0) 207 429 6611 / +44 (0) 7791 892 509

Rod Venables / Cecil Jordaan
HB Corporate
Tel: +44(0) 207 510 8600

Empyrean Energy plc
Tel : +44(0) 207 182 1746


This information is provided by RNS

 

[Agentm]

your going to have to wait at eme for the kunde 2 well to reach TD before they start testing the kunde 3. this could take some time!!

the tesing will be very very interesting, and be of value to the jvp we are in, we have 2 of out jvp's in that venture that possibly will gain insights from the testing..

all good news, and looking forward to the next update from adi!!

 

[mpls]

Do you think Kennedy H1 will test before Kunde#3.
I doubt it myself since Kunde#3, with the advantage of Kunde#2 monitoring, will provide the information to fracture Kennedy in the optimal way.

Remind me, is the Rig for Kunde#2 secured or not?

 

[mpls]

It will be the Nabors 775 rig?

This post from Father Ted was very close to the mark!

15th-September-2007, 02:37 PM
Father Ted's Avatar
Father Ted Father Ted is offline

<SNIP>

More interesting, is that the postion of the horizontal leg of the kunde 3 well - as shown on the new kunde 2 survey map - is different from that on the original kunde 3 survey.

It ends much closer to the bottom right hand corner of the field, nearer the well head. Its therefore shorter, than intended and runs out in a more westerly direction, at a dirrerent angle.

This means that the bottom is 611ft from the horizontal of kunde 3 - or is it?

either they have drilled kunde 3 somewhere different to where they said they were going to - or they have it wrong on the new survey map.

If its wrong on the new map - then kunde 2 would be a lot closer than 611 ft to kunde 3

the permit states that his well cannot be produced concurrently from the same reservoir as: Kunde Gas Unit #1 Well 3

I wonder if this is looking for connectivity between the zones? (which they may be trying to do even if it is 611ft away.)

 

[Evangeline]

Agentm (or anyone!)

I have attached a map of the 200,000 acres from the AUT presentation - with the 11 wells represented by stars.

The discovery well, Kennedy and SL1 are already labelled - but I am most interested in the names of the others and have numbered them 1 to 8.

Could you name them and perhaps tell us anything you know about them. Sorry the pdf is a bit rough.

EVA

 

[Father Ted]

Just as I suspected, using an adjacent well to measure changes in pressure gradient across the reservoir as they control flow is a pretty cool bit of development technology. This is a very sophisticated operation.

One thing is certain, this is a smart outfit that will get the absolute maximum amount of gas out of the ground by using the best drilling technology - given time.

Its a bit disappointing that we now have to contend with two mumbo jumbo well names - but who cares.

FT

 

[Agentm]

Just as I suspected, using an adjacent well to measure changes in pressure gradient across the reservoir as they control flow is a pretty cool bit of development technology. This is a very sophisticated operation.

One thing is certain, this is a smart outfit that will get the absolute maximum amount of gas out of the ground by using the best drilling technology - given time.

Its a bit disappointing that we now have to contend with two mumbo jumbo well names - but who cares.

FT

father ted, your divinity and insights amaze me every day.

you were spot on, and its very exciting news indeed. there is no doubt the kunde 3 well will be fraced for some time now, i am very convinced the kunde 2 well will be on the go in no time as EME mentioned it.

I would hope that kennedy 1H is not fraced until the kunde 1 well is completed..

i pray that your divinity continues and we see the genisis of a frac technique that will bring up that texas tea like no one thought possible!!

i begin to hear those elephants again...

 

[fflintoff]

EME has a 7.5% wi in Kunde #2. Confirmed in an e mail from management on the limey thread:-

mpls>

I have asked the question do eme have an active interest in TCEI JV Block A-2, I await a response.

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

Response related to the question I asked above note they now reference that a major is involved .....

Yes the TCEI JV Block A-2 well is part of the 16 well program - the 16 well program includes the next 16 wells (starting with TCEI JV Block A-1 well and Kennedy 1H well) drilled on either Block A or Block B. Block A wells we have a major operating and EME will have a 7.5% interest and Block B we have Texas Crude Energy operating and EME has an 18% interest.

Beyond that we have a 6% interest in further wells on Block B.