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ADI - Adelphi Energy

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All seems too be shaping up into a jvp buyout especially in ADI's case with the ARC - ANZON merger and Nexus waiting in the wings ARC would love a nice big cheque for ADI then merge the remains of the company into the new entity !
But what we need first is the results and hopefully they will be forthcoming in the very very near term.
ADI itself has some great projects on the horizon and NT may see some action soon hopefully so the future is bright regardless
 
It seems today's announcement is bad news for investors and this has immediately reflected in a sp decline. I feel geniunely sad & sorry for those that have invested so much time and effort in this thread.
 
Very disappointing announcement !
After waiting and holding well over 1 year too be hit with this kind of announcement is not good.
Annual report was full of confidence company maker then this not commercial no better shows in Kennedy 1 what is going on no more delays put us out of our misery and tell us what we have or have not got !
 
Bugger!............. Oh well i guess its not as bad as say............. hmmmm ..... Sons of Gwalia.

Good luck to all holders with the Other two zones.
 
It is best out of three remember . As I try to keep positive .

Disappointing yes but thats the oil and gas industry for you.
 
There is a lot more to ADI than the Sugarloaf-1 hole.. I grabbed another bundle this morning and am prepared to wait this one out..
 
I will be holding regardless this is an exciting company with many good projects lined up just seems too be dragging out with their SL play its been promising for a year now and ontop of that NT seemed very promising but still none the wiser of what going too happen there.
What concerns me is if no commercial discovery is found and put into production that spells a capital raising too fund future projects.
 
Could someone correct me if I'm wrong - but it was my understanding that Couch was referring to the whole of the Austin Chalk section was he not - which would encompass all three zones in S1? Thanks
 
no flow in the zone 3..

only 700 feet in with kennedy1H..

some amazing volume today compared to the past few days, excluding the 4.5mill last week.. whereas AUT and EKA are quiet. AUT seems to not have had any selling and held a nice price for the day.. some nice cross trading going on, i think the buyers are winning big time..

interesting to see the trades yesterday on some of the jvp's we had a lot of selling.. leaky boat syndrome perhaps?

Zone 2 next maybe, and the kennedy 1H continues to drill away..

smart buying today thus far as far as i am concerned.. real clever..
 
Yes - there are still nearly a million buyers today, which is interesting. I am thinking that news in the following weeks will be more positive. Very noncommital on Kennedy today.
 
Sorry - I meant 1 million shares traded....not buyers..I wish. Top 20 still not updated on website - what was that all about...something going on and someone is mopping up those throwaway shares. hmmmm..........
 
Strike 1 hey...hold on, was Hosston Strike 1. Two more hits to go.

Lets hope that isn't going to be more long delays before they go ahead and test the next zone.

With Kennedy they have gone a further 700feet with no rise in the gas pressure. Is anyone aware of how far into the horizontal that they are expecting some increased pressure?
 
They are looking for fractures (I gather) and that could happen anytime - its not a uniform thing, so the fact that the background is 100 units is not necessarily a problem. Surely they would abandon ship if they were not confident - it must be a very expensive process.
 
Earlier in SL they had background gas @ 30 units peaking @326 units and still wasnt commercial in the Hosston Sands.
If NT had of been completed and in production at least we would have a floor under the sp. The operator there has alot too answer for
 
I have been emailing ADI a few times in the last few weeks and from a response today the level of background gas is roughly consistent with what has been seen in other wells. They are looking for natural fractures which havent been encountered in Kennedy yet. They basically said there is still along way to go yet and there shouldnt be any geological reason why these natural fractures should not be present in our area.

I have held ADI for over 18 months and I have taken some profit off the table today.

Cheers
 
thanks for the post blues, that is encouraging and we certainly need some (encouragement)....sounds like if the percentages come in the fractures will be encountered in Kennedy, but as always there is risk. Still holding for risk/reward but a little less insurance now that zone 3 is no go at Sugarloaf-1.
 
early days. the well is only just begun.


these low levels of background gas are not unusual for what has been experienced in all the wells.

there is no reason to say the well cant be fraced and will produce in the 700 feet drilled so far. the readings can be misleading, we are using oil based mud, and we dont know the integrity/calibrations of the loggers and reading equipment..

its not over until the frac lady sings
 
Open briefing from ARQ earlier related to their ADI holding..

“We will also be continuing to aggressively build on the asset base and are also looking at further corporate growth. One of the things the merger will do is give us the impetus to look closely at the assets outside our core areas. These include the Anzon New Zealand assets and our Yemen assets and our holding in Adelphi.
These will all need review in the context of the new asset portfolio.”


http://www.arcenergy.com.au/files/asx/ASX - Open Briefing AZA and ARC Agree Merger 24 Oct 07.pdf
 

In view of today's results I think I will do the same as ARQ and review my holding in ADI and AUT. They are starting to bark. For the first time I am beginning to question the wisdom holding. If ARQ are unsure why should I not be unsure too.
 
All this negativity is likey to make me paranoid.

My (limited) understanding is that zone two and three were only going to be bonuses to the mother load that is zone 1.

So what if zone three wasn't flowing in that location. There are many more locations in the 20,000 acres.

Admittedly I sold out half my holding in AUT first thing this morning at .54then bought ADI at .52

I think a lot of people got caught out thinking that all 3 zones were going to be brilliant.

There is a lot more to this field then one flow test.

 
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