ADI - Adelphi Energy

[Evangeline]

Manukey is not new but they also have a 5% stake in Trojan and they hold 500k in ADI. So that makes over 3 million shares associated with Trojan...the 4th largest holder.

Tricom are new big holders in ADI with 1.5 million, and they are closely associated to Babcock & Brown...indeed it has been said they have on occasion been a little too close. So they probably bought in last week at 60 too.

 

[Agentm]

looking forwad to how these two wells come up.. kunde and kennedy.

I have an impression the elephants are starting to gather.. it was evidenced last week when we saw some exciting SP activity, with a lot of very keen buying on the HSBC exit.

koh samui is looking good imho..

 

[Evangeline]

I have a good feeling about next weeks announcement.....there will have been a lot more progress at Kennedy and news should start to flow more freely...no reason for further delays now

 

[Agentm]

so have i..

conocophilips is just marching on.

imho we wont see any change in the sentiment of the reporting, adi have maintained this dead pan no frills monotone reporting throughout. enabling them to release the detail of what they have and in the case of the last few reports, the market has completely misunderstood and misread the implications of the content of the report.. whats has been seen as negative in the kennedy well at a later stage will be evident as the contrary imho.

all great buying prices currently.. pity i am totally maxed up on these guys!!

sit back and relax.. plan for the full moon party koh samui early next year then!

 

[Agentm]

well its quiet around here

so who's up for koh samui?

lets get the show on the road.. the elephant now stays..

 

[kevro]

Agent M

what happened to your cat. Its grown a set of tusks and the ears are a little larger.

kevro

 

[Agentm]

thats just one of the elephants couchy was talking about,, see how big and mean it looks.. i hear thers a whole masssive heard of them stampeding our way!!!

 

[Lucky_Country]

Hope its not a white elephant !
Could become embarrasing but we have faith just not as confident as you until I see it in black and white

 

[nioka]

Hope its not a white elephant !

I'm beginning to think it may have been a pink elephant. I just hope someone is not looking at ADI through rose tinted glasses.

 

[Agentm]

everyones talking it up big time.. i think theres a lot of confidence in amoungst the brokers..

all in all i think couch got it right..

 

[Agentm]

you see the faith comes from understanding what conocphillips is doing and what TCEI are doing, and who TCEI were the leases were before we arrived..

Its strange, but if you dig below the surface, you find things..

cheers

 

[greenfs]

you see the faith comes from understanding what conocphillips is doing and what TCEI are doing, and who TCEI were the leases were before we arrived..

Its strange, but if you dig below the surface, you find things..

cheers

Pity ADI can't find anything below the surface. Mebbe we should all get out there and help em dig instead of reading this thread furever

 

[Agentm]

Pity ADI can't find anything below the surface. Mebbe we should all get out there and help em dig instead of reading this thread furever

i am up for it.. would love to be there and help them out..

you dont have to read the tread though.. i only look in a few myself.. so easy to fix.. just dont read it if it bugs you!!

 

[Evangeline]

Having another look at the top 20 shareholders and option holders in Trojan Equity and it seems I missed a few names also in ADI:

Michael Craft (and by association I guess Fopar Nominees) are also investors in the Trojan Equity fund. Another 1.7 million ADI right there

JH Nominees is a fund for the Harry family.....500k

Now we're looking at about 5 million ADI shares owned by Trojan and associated companies and clients!

These guys are up to their eyeballs in ADI! ANZ nominees are also major investors in the Trojan Fund....well well well...

Trojan Equities largest investment is in ARC....

 

[Father Ted]

So it looks as if the Kunde#2 well has not been drilled (to full depth) yet!

The following is on the RRC website under the Kunde#2 permit details.

This permit has moved from 'Engineering' to 'State Wide Rule Hold' catagory.

Two new documents (interestingly both dated 29th Oct 2007!)have appeared today, the main document of interest:

http://webapps.rrc.state.tx.us/dpimages/img/300000-399999//PR0000372842_0001.pdf

states:

RAILROAD COMMISSION OF TEXAS

OIL AND GAS DIVISION
DISTRICT 02
Rule 37 Case No. 0254056
DATE OF ISSUANCE: Oct 29, 2007
Status/Permit No. 625493

N O T I C E O F A P P L I C A T I O N

NOTICE IS HEREBY GIVEN that the BURLINGTON RESOURCES O & G CO LP, [RRC Operator No.
109333] has made application for a spacing exception permit under the provisions of
Railroad Commission Statewide Rule 37 (16 Tex. Admin. Code section 3.37). Applicant
seeks exception to the DISTANCE BETWEEN WELLS requirement for the AMENDED NEW DRILL
permit in Sec. 120, Bk. , INGRAM, J Survey, A-261, WILDCAT Field, LIVE OAK County, being
15 miles SW direction from KENEDY, Texas. The location and identity of the well is as
follows:

FIELD: WILDCAT
---------------
Lease/Unit Name : KUNDE NO. 1 GAS UNIT
Lease/Unit Well No. : 2
Lease/Unit Acres : 683.94
Nearest Lease Line (ft) : 1720.0
Nearest Well on Lease (ft) : 611.0
Lease Lines : 845.0 F EAST L, 2070.0 F NORTH L
Survey Lines : 3699.0 F SOUTH L, 845.0 F EAST L
Wellbore Profile(s) : Directional
Bottom Hole: BH1
Lease Lines: 1720.0 F E L
2399.0 F S L
Survey Lines: 1720.0 F E L
2856.0 F S L

Field Rules for ALL fields on the permit application are as follows:
WILDCAT : Statewide rules 467/1200, 40.0 acres.

This well is to be drilled to an approximate depth of 12800 feet.

If you have questions regarding this application, please contact the Applicant's
representative, Ceal Yarbrough, at (832)4862591.
PURSUANT TO THE TERMS of Railroad Commission rules and regulations, this application may
be granted without a hearing if no protest to the application is received. An affected
person is entitled to protest this application. Affected persons include owners of
record and the operator or lessees of record of adjacent tracts and tracts nearer to the
proposed well than the minimum lease line spacing distance. If a hearing is called, the
applicant has the burden to prove the need for an exception. A Protestant should be
prepared to establish standing as an affected person, and to appear at the hearing either
in person or by qualified representative and protest the application with
cross-examination or presentation of a direct case. The rules of evidence are applicable
in the hearing. If you have any questions regarding the hearing procedure, please contact
the Commission at (512)463-6848. If you have questions which are specific to the
Application or the information set forth in this Notice, please contact the Commission at
(512)463-6701.
IF YOU WISH TO REQUEST A HEARING ON THIS APPLICATION, YOU MUST FILL OUT, SIGN AND MAIL OR
DELIVER TO THE AUSTIN OFFICE OF THE RAILROAD COMMISSION OF TEXAS THE ENCLOSED NOTICE OF

INTENT TO APPEAR IN PROTEST. A COPY OF THE INTENT TO APPEAR IN PROTEST MUST ALSO BE
MAILED OR DELIVERED ON THE SAME DATE TO APPLICANT AT THE ADDRESS SHOWN ON THE SERVICE
LIST. THIS INTENT TO APPEAR IN PROTEST MUST BE RECEIVED IN THE RAILROAD COMMISSION'S
AUSTIN OFFICE WITHIN THREE WEEKS OF THE DATE OF ISSUANCE OF THIS NOTICE OF APPLICATION.
IF NO PROTEST IS RECEIVED WITHIN SUCH TIME, THE REQUESTED PERMIT MAY BE GRANTED
ADMINISTRATIVELY, TO BE EFFECTIVE THE DAY FOLLOWING THE TERMINATION OF SUCH THREE-WEEK
PERIOD.

My guess is that rig did move off to drill Baker #1 and won't be back until the mess with the paper work is sorted out. How long is that likely to take to drill Baker #1first?

father ted

 

[Agentm]

The commercial significance of the elevated gas background is not known but is regarded as encouraging.​

Background gas levels within this horizontal section drilled to date have continued to be broadly consistent with those reported last week.​

interesting comments.. ​

just as this was on 29th september 2006​

Wire-line logs were successfully run over the open hole section of the well between 6,500 feet (1,981 metres) and the present well depth of 14,480 feet (4,413 metres).
Interpretation of logs by the operator, Texas Crude Energy Inc, indicates a 92 feet (28 metres) zone of possible gas pay corresponding with the zone of gas shows obtained during drilling in the secondary target (reported to the ASX on the 20th September 2006).
While Adelphi considers that the logs are encouraging the commercial significance of the log-interpreted possible pay can only be assessed by flow testing and there is a risk that the zone may not flow at commercial rates. Flow testing of the zone is not programmed at this time but will be considered after the well has been drilled to total depth and the primary target assessed.
The current operation at the well-site is the running of the 9-5/8 inch intermediate casing to present depth of 14,480 feet (4,413 metres). Once run and cemented, the well will continue drilling in 8-1/2 inch diameter hole to the primary target expected between approximately 17,000 feet (5,182 metres) and proposed total depth of 21,000 feet (6,400 metres). There is a further secondary target in carbonate rocks between present depth and just above the primary target.


the TCEI ADI jvp have a habit of understating the situation.. when they have identical logs to the kunde 1 commercial well, and masiive spikes in pressure, it was report that blandly and with no fan fare..


i will repeat the last parts of the recent announcements again

The commercial significance of the elevated gas background is not known but is regarded as encouraging.​

dont underestimate what TCEI means as encouraging...!!! i know i have never done so.. encouraging last year meant multi tcf.. what does it mean today???

 

[barney]

Howdy Agent. Could you do me a favour ..... This thread has become so big, I couldn't even find the pics of the well positions you posted a while back. Would you mind posting a brief pic of the position of the producing Kunde well in relation to the SL1 and Kennedy wells with NSEW direction and distance between wells ........... Also, if possible a rough outline of our lease (dont want much do I??)

The chosen position of the Kennedy is interesting to me, and I'm curious as to why TCE chose that specific site in relation to the successful well "next door" ............

I think its fair to say, that if they have "guessed" right with Kennedy and we hit pay dirt, then it really will be game on ............ of course nothing is for certain, and it should be remembered that both SL1 and Kennedy have still both been drilled primarily to gain information for a possible future drilling programme .............. If we get lucky, that could be one big programme!! ...

I believe that the upper zone in SL1 is already considered "on the money",and that testing that zone although important, is secondary to results in Kennedy .......

Kennedy is where the importance lies now ............ this is where some real information will be gathered ............. Hoping for a good result like everyone else, and as you point out, the management is "encouraged" by the results so far ........... AND ...... we still have a long way to drill, so plenty of chances for more "encouragement" before we finish .......... Cheers.

 

[Father Ted]

Howdy Agent. Could you do me a favour ..... This thread has become so big, I couldn't even find the pics of the well positions you posted a while back. Would you mind posting a brief pic of the position of the producing Kunde well in relation to the SL1 and Kennedy wells with NSEW direction and distance between wells ........... Also, if possible a rough outline of our lease (dont want much do I??)

The chosen position of the Kennedy is interesting to me, and I'm curious as to why TCE chose that specific site in relation to the successful well "next door" ............

I think its fair to say, that if they have "guessed" right with Kennedy and we hit pay dirt, then it really will be game on ............ of course nothing is for certain, and it should be remembered that both SL1 and Kennedy have still both been drilled primarily to gain information for a possible future drilling programme .............. If we get lucky, that could be one big programme!! ...

I believe that the upper zone in SL1 is already considered "on the money",and that testing that zone although important, is secondary to results in Kennedy .......

Kennedy is where the importance lies now ............ this is where some real information will be gathered ............. Hoping for a good result like everyone else, and as you point out, the management is "encouraged" by the results so far ........... AND ...... we still have a long way to drill, so plenty of chances for more "encouragement" before we finish .......... Cheers.

barney

a good starting place would be the Sept 2007 Adelphi presentation, see home page of the adi website - page 12

and I think you will find that there is "not much guess work" about this development.

ft

 

[fflintoff]

Barn,
Have a butchers here:-

http://bbs.keyhole.com/ubb/showflat.php?Cat=&Number=1029194&page=0&vc=1&PHPSESSID=#Post1029194

Kennedy should be at 4000ft lateral soon so the well is likely to be tested before zone 1 at SL.
The SL well could be used as a sidetrack or even drilled out to a full blown horizontal.

 

[Sean K]

The commercial significance of the elevated gas background is not known but is regarded as encouraging.​

Background gas levels within this horizontal section drilled to date have continued to be broadly consistent with those reported last week.​

interesting comments.. ​

just as this was on 29th september 2006​

Wire-line logs were successfully run over the open hole section of the well between 6,500 feet (1,981 metres) and the present well depth of 14,480 feet (4,413 metres).
Interpretation of logs by the operator, Texas Crude Energy Inc, indicates a 92 feet (28 metres) zone of possible gas pay corresponding with the zone of gas shows obtained during drilling in the secondary target (reported to the ASX on the 20th September 2006).
While Adelphi considers that the logs are encouraging the commercial significance of the log-interpreted possible pay can only be assessed by flow testing and there is a risk that the zone may not flow at commercial rates. Flow testing of the zone is not programmed at this time but will be considered after the well has been drilled to total depth and the primary target assessed.
The current operation at the well-site is the running of the 9-5/8 inch intermediate casing to present depth of 14,480 feet (4,413 metres). Once run and cemented, the well will continue drilling in 8-1/2 inch diameter hole to the primary target expected between approximately 17,000 feet (5,182 metres) and proposed total depth of 21,000 feet (6,400 metres). There is a further secondary target in carbonate rocks between present depth and just above the primary target.


the TCEI ADI jvp have a habit of understating the situation.. when they have identical logs to the kunde 1 commercial well, and masiive spikes in pressure, it was report that blandly and with no fan fare..


i will repeat the last parts of the recent announcements again

The commercial significance of the elevated gas background is not known but is regarded as encouraging.​

dont underestimate what TCEI means as encouraging...!!! i know i have never done so.. encouraging last year meant multi tcf.. what does it mean today???

Agentm, there is no requirement to increase the font size to make a point.

In regard the statement above you have neatly turned what looks to be a negative report into something less bearish.

The most significant part of the report is this I believe:

the commercial significance of the log-interpreted possible pay can only be assessed by flow testing and there is a risk that the zone may not flow at commercial rates. Flow testing of the zone is not programmed at this time but will be considered after the well has been drilled to total depth and the primary target assessed.