ADI - Adelphi Energy

Agentm · 27 October 2006

i was reading the AUT annual report this morning,, noticed the directors there are thick with shares with plenty to come,, they obviously are facing shareholder pressure re going to market and raising capital,, seems they have opted to burrow money for some project in the US instead,, somehow dont think they will be giving any EKA shareholders any rest.

At last we have caught up to 3 days ago,,

do you think the investors today are stayers? or likely to flee this afternoon or monday?

anyone want the winner for the cox plate and the melbourne cup?

Agentm · 27 October 2006

48 hours of nice drilling ahead.

not long before the markets close.

When you look at where the main primary is you think its got to be drilled in coming 4 days or so..

Broadside · 27 October 2006

the ADI quarterly doesn't seem to reveal anything we don't already know from a cursory glance at the Sugarloaf section

Agentm · 27 October 2006

the al nilam field is the biggest winner for 2008 for ADI its real close to block 7,, and its a massive oil column.. kilometers not meters!!! they are real excited to be close to it and i bet the 2d's will be focusing at that play being replicated in some area near by in block 7..

having 14 million in the bank sorta makes it a happy place to be..

buying into new areas also on the cards..

new taiton starts in the coming 30 days...

and in case anyone missed it,, the primary is about to be drilled this weekend..

maverick11 · 27 October 2006

I have been umming and arring all day wanting to buy more. God damn it!!

Was hoping for a sell off before close like yesterday, but no.... 28% up for a close of $0.59!!! Talk about market confidence!!

Will see what Monday brings, and hopefully buy more then too

Sham · 27 October 2006

Well Im gonna go lay down now, 22.9% up on adi today and 80% up on my eka from where I bought it ....and my entry wasn't that good. Roll on monday.

stoivey · 27 October 2006

Agentm said:
This is the way I see it..
initially there was a plan to drill an 8 1/2" drill bit from 14,200 to TD, with the plan to go clean through Sligo and then into the primary..
last week we get the news that the Sligo is methane only... ok thats cool,, I like success just like anyone else on this stock. then they stop.. run wirelines and then case it in..
Hang on case it in????
This wasnt in the plan.. we were told 14,200 to TD 8 1/2" drill..

just reading some info on the couch site, it does seem common practice to use smaller and smaller drill bits as they get deeper, this being an extremely deep well it could well be standard practice to change drill bits at that depth

8. At about 3,000’ the drill string is raised and 14” surface casing is lowered into the hole and cemented in place. About 24 hours is allowed for the cement to set. It becomes a permanent part of the well. Casing is thick steel pipe which comes in various diameters. The purpose of casing is to keep the sides of the hole from caving in. It also keeps drilling fluids from coming up the hole and leaking into surface formations which may contain groundwater. Removing the drill string is a time consuming process because, to do so, it has to be taken apart. This is done 3 or 4 sections at a time, depending on the height of the rig. They raise the drillstring, take off 4 sections (120’ of pipe) stack it off to the side, raise it again, remove 4 more sections etc. At 12,000’, there will be 400 sections of drill pipe in the hole so it takes 100 operations to take it all apart.

9. The drill string is then put back together and drilling continues again with a 12” drill bit.

10. By the time the drill bit gets to around 8,000’ drilling has slowed down to a rate of about 500’ per day.

11. At around 8,500 the drill string is raised. A wireline log is run (see more detail below) and intermediate casing, about 10” in diameter, is installed, cemented in place, and allowed to set for 24 hours. An entire 8,500 length of casing is inserted inside the surface casing. It goes from the top of the hole to the bottom. The bottom section of casing is temporarily plugged with cement. When drilling starts again, this cement will be drilled out by the new bit.

12. A smaller bit, about 8” in diameter is installed on the drill string and drilling recommences. From here to the bottom of the hole, the rate of penetration may slow to 200’ to 300’ per day.

13. At the target depth (around 11,500 to 12,000’) drilling ends. The drill string is raised and the remainder of the well is logged (see below) and analyzed. If it is determined that gas can be produced profitably, production casing (between 4.5 and 5.5” in diameter) is installed and cemented in place. An entire 12,000’ length of casing is installed reaching from the surface to the bottom of the hole (inside the intermediate casing). The well is “shut-in,” that is, capped to keep anything from escaping at the top of the well.

stoivey · 27 October 2006

heres from the faq on couchoil

Casing is heavy, large-diameter pipe that is placed into the hole to give the well more structural integrity than would be achieved by a simple hole in the ground. The hole is drilled in sections of decreasing diameter. For instance, in a 12,000’ well, the first section of hole may be drilled to around 3,000 with a bit of around 13 ½” in diameter. Surface casing of around 12” in diameter will be lowered to the bottom of the hole. (Casing also comes in 40’ lengths like drill pipe so it is screwed together section by section). Surface casing is usually run to a depth below the lowest known ground water. The next section of the hole will be drilled with a smaller bit of around 9 ½”. At the desired depth, intermediate casing of around 8 ½” in diameter will be lowered into the hole. This second casing string will extend from the top of the hole, through the intermediate casing, all the way to the bottom. The next section will be drilled to total depth with a 7” drill bit. 5 ½” production casing will then be set extending from the top to the bottom of the hole. Inserting and cementing casing into the hole is sometimes referred to as “running pipe.” In a deeper well, each of the casing sizes described above may be much larger. For instance, in an 18,000' well the surface casing might be around 16" in diameter

Agentm · 27 October 2006

well i can say that being on this ride today was fun..

some have opted to abandon ship,, and some have joined the ride..

still deciding which bottle to buy tonight,, looking at purchasing from bottles behind the glass, you know,, the ones that everyone looks at and thinks who can afford to buy that!!

stiovy

the drill bit and casing senario was in my opinion unplanned, and had sligo not been what it was, then they would have kept going. they have already announced in their weekly report two weks ago that they were casing in due to the pressure problem..

i have always maintained my stance with sugarloaf, and i maintain its secondaries are commercial. if hosston takes off then so be it,, but the value of the secondaries are still way higher than the current price,, the stock is still a rock bottom bargain..

enjoy the weekend everyone.. i am kickin back and chillin out..

Dukey · 27 October 2006

Mannnn............I'm just hangin around - watching, waiting reading what you guys have to say... plenty of great info - thanks peoples.
Very nice finish today on 59c... More confidence building stuff!
What can you say ... roll on Monday.

Noticed one thing in the quarterly report, but just a small thing I think. I'm sure I originally read they reported the Hosston sands zone was expected at around 17000 feet, but the QR's now says 17500 feet. Am I mistaken??
Are they just updating simply cause they were at 17440 at that time and hadn't hit it yet.
How accurate are the siesmic depth estimates anyway?? It's a bloody long way down - so there must be some give/take.

Anyway - nothing to worry about I believe...

Secondaries looking better all the time as snippets leak out.
Hosston to come.....
Taiton after that...
Yemen after that...

Yeehahhhhhhhhhh!!! imp:
-------------------
Whats your prefered tipple of red AgentMan.
Not much Oz wine here in Japan. I miss my Oomoo!!

stoivey · 27 October 2006

i do believe they factor in an error rate of +/- 500 ft in their estimates

Agentm · 27 October 2006

tonight a shiraz... barossa of course!!

champagne to start..

they expect multi zones,, hosston sands from what i have researched can have like 280 feet zones then shale then 80 the nothing then 100 again... that type of affair.. its not going to one zone,, could start immediately or could be days before it starts..

it could be days before a zone is intersected.. but the hosston play is right now being drilled..

its time to clear out and enjoy...

cheers

Dukey · 27 October 2006

Ta ... Avagoodweegend mate!!

Maybe Monday will start with the long awaited HALT !!!

fflintoff · 27 October 2006

Broadside said:
the ADI quarterly doesn't seem to reveal anything we don't already know from a cursory glance at the Sugarloaf section

Broady,
Are there two differences namely :-

- Seismic had top of Hossy at 17000ft. Now confirmed formally at 17500ft.
- Sligo announcement on 18 Oct was "..a few thin zones of interest ". ADI quarterly report states " Gas shows over several thin intervals ". I also prefer several to a few, thin or otherwise.
Agentm is convinced that the extra casing at Sligo is to hold back the gas pressure.

Lucky_Country · 27 October 2006

Wow Just got back from work and what a day 59c close seem too be opening up with there information regarding secondary targets New Taiton almost ready too go this babe is gunna be big

tarzanhey · 28 October 2006

good day for you guys yesterday - finally started to wake up in the UK as well on EME. Into the Hosston by now?
I would think so, bet old Couchie is going off like a bunking bronco.

looking forward to next week (big time)

good luck all!

Tarzan

kevro · 28 October 2006

On On Tarz, looking forward to Monday and the hint of a leak would be a good start to the working week. If I remember correctly there is only 13000 shares on offer with ADI at close of trade Friday and if there is a leak before opening imagine what they might be worth.

Oh well, back to my beer (no champas just yet), Good luck to everyone and hope its a good week.

djones · 30 October 2006

I bought into EKA last week, so hoping for some very good news on ADI and EKA this week, the sooner the better for my nerves!

Dukey · 30 October 2006

OK peoples !! opening with a bullet - up 9 c to 68c in Oz - after only 15 odd minutes tradding!!
Could be a nice day....
Damn...: I want more
I want more ...

djones · 30 October 2006

Surely the workers working on sugarloaf are first to know whether a large amount of gas has been found, wonder if theyre on there phones to their broker, their mums broker, their friends brokers as soon as they realise...

ADI - Adelphi Energy

Agentm

Agentm

Broadside

Agentm

maverick11

Sham

stoivey

stoivey

Agentm

Dukey

stoivey

Agentm

Dukey

fflintoff

Lucky_Country

Formerly known as ijh

tarzanhey

kevro

djones

Dukey

djones

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