ADI - Adelphi Energy

[sam76]

Curious to see AUT getting some more buying interest this morning ... over 3 million shares traded .......... while ADI continues to sit idle. Buyers seem happy to pay a higher premium for AUT, so they must perceive the extra land that AUT has as holding more value. Either that, or there is simply not enough volume on the sell side of ADI to accumulate what they want ........

The company could do well to improve their PR skills imo ............. Its a case of no news is not good news ......... A little positivety would go a long way .... Very frustrating............ Then again maybe they want the SP in the low teens so they can pick up the last of the annoyed sellers shares ..... not getting mine just yet.

AUT has the support of a Victorian brokerage house, hence why it seems to always be propped up. Without that support AUT would be at a very similar price to ADI.

There's also a 2,5000,000 @ 8 bid over at EKA as well

 

[barney]

AUT has the support of a Victorian brokerage house, hence why it seems to always be propped up. Without that support AUT would be at a very similar price to ADI.

There's also a 2,5000,000 @ 8 bid over at EKA as well

Hi Sam, ........... Perhaps the management at ADI could be a bit more pro-active in pushing their own barrow as well if that is the case.

I've written to ADI again today voicing my dissapointment at their apparent lack of interest in keeping the market informed .............. Fair enough, we have delays in the project, but how much trouble is it to write a weekly/fortnightly update to keep the shareholders "interested" ............. Just because there is no new breaking news, doesn't alter the fact that shareholders like to be reminded that we potentially have a "new play in Texas" ................ Thats what they told us, right??

When they go to the shareholders and ask for more money to develop the play, they may well regret the fact that they didn't keep the market better informed ..... I know if I was running a Company, I would much rather be raising cash on any new issue of shares at the highest possible SP ............ Then again ........... in 6 months the current SP may hopefully be outdated ........ I'll stop whinging now .... Almost beer o'clock :bier:

 

[Agentm]

conocophillips bordovsky permit needed to be modified, and its now been approved once the resubmitted permit in the name of burlington resources was put in. i gather they can drill away now as the rig is on site.

same ole groundhog days as usual, there are some big trades going through every now and then, perhaps opus prime minor holdings?

looking forward to that "soon" event that AUT went on about what i thought was some time ago..

 

[Agentm]

just thinking back over these long groundhog days, and when we started there were a few wells in the chalks, if i remember correctly there was Kunde 1 and Kunde 2 which was shut in, and pioneer meeks, so three wells

Today i am seeing a different picture, and believ it or not, there is only one well on commercial production, kunde 1!!!!

So all these wells, and all these new operators, and when i look at leases i see distinct connections between a lot of these entities..

imho the last 6 months has seen an esculation of activity into the austin chalks by a lot of operators.. the original 3 is now becoming something else again imho, with conocophillips and a few austin chalk specialists suddenly getting very very active in the sugarkane..

 

[blues]

You would think there would have to be something there with all that activity in the vicinity. It is disappointing that AUT released that announcment on the 17/3 saying there would be activity soon and 3 weeks later nothing, no follow up announcement. It is beyond the point of frustration and I am becoming quite disillusioned with this process. I have been a long, loyal supporter but slowly coming to the conclusion that the Aussie jvps might be out of their depth. At least ADI has the Timor Sea in July and I hear the gazzeting of the Indonesia play in May to look forward too.

Cheers.

 

[Agentm]

all those operators, geosouthern, conoco, meridian, hawthorn, they work off 3d's.. i dont think they are drilling and completing all those wells on a wild guess. the horizontals are very very expensive, and theres a lot of them, with a few being dual lateral horizontals also..

the decision to wait for kunde 3 was made by the jvp as a group on the advice of the operator. once the kunde 3 well had two mechanical failures, the last 3 or so months has brought a change of heart, and the jvp is confident they want to frac the kennedy well now without waiting. i am under the impression once the decision is made on the frac process, then the jvp can announce something more, the announcement to go ahead has already been made, its just the aut announcement was months ahead of the game plan imho..

 

[Sean K]

This is going to be the most fantastic turnaround story in the history of the multi universises!!!!!!!!!

Good luck ASF punters!!!!!!!!!!!!!!!!

 

[nioka]

This is going to be the most fantastic turnaround story in the history of the multi universises!!!!!!!!!

Good luck ASF punters!!!!!!!!!!!!!!!!

I like the way you say "going to be". No ifs ?. Anyone still holding certainly doesn't use stop loss as a tool and they certainly are the faithful. All the time there has been little selling, not enough volume to trade it most times. That must say something.

 

[Sean K]

I like the way you say "going to be". No ifs ?. Anyone still holding certainly doesn't use stop loss as a tool and they certainly are the faithful. All the time there has been little selling, not enough volume to trade it most times. That must say something.

Noika, it will definately be the MOST analysed!!! ADI must be the most analysed company in the multimultiversies!!!!!!!

AM has provided ASF followers with some of the most detailed analysis of any O&G play on the planet!!!

 

[Agentm]

Noika, it will definately be the MOST analysed!!! ADI must be the most analysed company in the multimultiversies!!!!!!!

AM has provided ASF followers with some of the most detailed analysis of any O&G play on the planet!!!

hardly call it analysis.. i just was churning through the database this morning and mapped up the wells i have a close watch on,, and it struck me how many are currently being drilled..

wait a few weeks for the better quality information to come, once the formation is flowing the detail can come through, until then its really speculation..

good to see you support the holders still kennas, i am like you, i want everyone to make good gains on their investments.


edit.. i had broady's reply as a quote, and was about to post my comments kennas, but i noticed he was removed so i followed the protocol and didnt want to upset anyone, i hope your not too offended by me posting today on the adi forum, if you have a problem please pm exactly what i am allowed to post.. we all dont want you to remove this thread..

 

[nioka]

You can say that again and again. Thanks to agentm we have had enough information to understand the play and the risks. The company certainly hasn't been too forthcoming of late.

 

[Agentm]

RNS Number:2374S
Empyrean Energy PLC
14 April 2008



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

Sugarloaf Block A, Texas USA
----------------------------

* Empyrean confirms significant discovery at the Sugarloaf Project area.
* First well tested from five drilled to date (Sugarloaf Blocks A & B)
flows commercial quantities of gas and condensate on test.
* Four further wells which have all encountered hydrocarbon shows
whilst drilling are yet to be tested.

Empyrean, the AIM listed energy company with exploration and
production assets in Germany and USA today announces the following
initial test results from its TCEI JV Block A-3 well on Block A at
the Sugarloaf Project in Texas:

Initial flow testing of the TCEI JV Block A-3 well has recorded flow
rates using 12/64" choke close to 1.9 mmcfgpd (million cubic feet
gas per day) with over 460 bcpd (barrels of condensate per day) and
75 bwpd (barrels of water per day - normal under these
circumstances) with a FTP (Flow Tubing Pressure) of almost 4000 psi.
On the present day prices for condensate and gas whilst converting
the condensate to a gas equivalent, the equivalent gas flow rate
exceeds (using a 10:1 conversion) 6.5 mmcfepd (million cubic feet
gas equivalent per day).

This open hole test has been conducted without stimulation and is
testing the vertical pay section in the upper part of the Cretaceous
Austin Chalk reported in our announcement of 15 November 2007 (peak
readings 350 units - 10 times background levels). The drilling of
this well ceased 2,700 feet short of the proposed length as
significant gas shows and flares whilst drilling were encountered
prompting the operator to prepare the well for an open hole flow
test, to see if the well would flow without stimulation, as reported
in our announcement of 11 January 2008.

Much work is now being conducted to correlate these early results
with that of a similar field in the region to help establish best
practice for completions moving forward on this substantial and
significant gas condensate discovery. The Brookeland Field in Tyler
County is one such field and early comparisons are very favorable. A
typical well drilled by one of the operators in the Brookeland Field
has an approximate equivalent rate of 1.4 mmcfepd per thousand feet
of horizontal (comparing favorably to Empyrean's TCEI JV Block A-3
well at approximately 2.4 mmcfepd per thousand feet of horizontal).
The typical well for one operator at the Brookeland Field has
approximately 12,000 feet of horizontal with average initial rates
of over 16 mmcfepd.

Commenting today, Empyrean Executive Director Tom Kelly said "The
importance of this comparison is that Empyrean's TCEI JV Block A-3
well has approximately 2800 feet of horizontal and a much higher
equivalent production rate per thousand feet of horizontal well
indicating that at the Sugarloaf Project there is every chance that
better production rates may be able to be gained by increasing the
length of the horizontal portion of the wells."

After some 20 hours of flow testing the TCEI JV Block A-3 well has
been shut in to conduct pressure measurements and other reservoir
data measurements as part of the normal engineering procedures to
measure the parameters of this discovery. Further testing will be
required to confirm the extent of the reservoir and the field
deliverability. At this early stage there is no clear indication on
the time it will take to determine these important factors.

Empyrean has a 7.5 % working interest in the TCEI JV Block A-3 well
and further announcements will follow as significant developments
come to hand.

Tom Kelly added "This is terrific news for Empyrean and our
shareholders. The initial recorded flow rates are excellent using a
choke that was not fully opened and the pressure is high. Much is
being learnt from this well and the comparison with Brookeland that
should see many of our future wells flowing even better than this
one. After a very patient wait Empyrean's shareholders are being
rewarded with being part of a major discovery. This is the first
flow test from 5 drilled wells that have all encountered hydrocarbon
shows whilst drilling on this project's extended area. We still have
4 already drilled wells to test which is very exciting. More
importantly, this first well tested has confirmed a significant gas/
condensate discovery, and with oil fetching over US$100 a barrel the
economics are even more attractive."

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.

 

[maverick11]

ohhhh, i'm getting excited. Nearly 2 years and finally things are starting to come together. This should hopefully see the SP start to go back up with Baker flowing with no frac and proving commercial flow

 

[sam76]

Indeed this is good news and helps vindicate Agent M's research on the area.

Although not directly related, hopefully this will put a floor under the share price of the Aussie jvp's.

 

[barney]

Thanks for the update Agent. Certainly very upbeat from EME ......Quote "major discovery" ............

A brief follow up on my email to ADI ............... A positive response ........... A little frustration over the delays, but looking forward to a plan on Kennedy soon ............. no hint of dissappointment in the project at all at this stage .....

Also like the statements from AUT with reference to the recent appointment of Ian Lusted to their board who will be invaluable as they develop their ..... Quote ...... "significant acreage position in the Texas based Austin Chaulk formation" ........

We "punters" as Kennas refers to us, will hopefully be rewarded for our loyalty rather than our gambling ...........

 

[Agentm]

we now see two types of wells in the chalks, each are commercial.

the kunde 1 well was a vertical, straight in and did not intersect any natural fractures, they got good flow off the frac they did, and if you read the last AUT presentation, they see up to 15 years of longevity there, which is unique for a chalks well really.

the Baker well is a 2500 odd foot horizontal, they couldnt get the full 5000 feet done, because of the massive pressure and blowouts after hitting a natural fracture.. it is a horizontal, open hole and unfraced, they have a very handy well there. Conocophillips have done a lot to get it fixed, and now they are rewarded.

EME is talking significant discovery.. and "major" i hear

there are 3 zones in the chalks, all the wells are in the upper zone, and they are talking 3tcf and 500mmbls in that region alone on the smaller field size of 200,000 acres, i know of 4 wells that are being drilled outside the 200,000 acres and 2 are conocophillips wells, they are apparently seeing a much larger play.

early days, but the significance of a second commecial well, and horizontal at that, cant be ignored..

good luck to all holders

 

[nioka]

EME sp up 70% according to the quotes I have seen just a few minutes ago. That should get the speculators interested in AUT and ADI tomorrow.

 

[KillerWolf]

First post here, i believe. just wanted to say here as well as ADVFN : many thanks to AgentM for sharing his reseach w/ us. it's much appreciated, and you should feel justifiably proud at having been vindicated after all the sht you've had to put up w/ from certain posters on the other board.

thanks again bud.

 

[gdaf]

So sugarloaf is flowing!! You beauty! Very nice result for EME and the operator. This makes fraccing our Kennedy well all the more important in the coming weeks/months. Let's hope for weeks. To get a commercial flow will see this share well back to record highs. I for one am going to stick this out to the end. If anything, this should provide ADI with some very important data for a forward drilling program in Texas, and put to bed any thoughts of abandoning the area. Good luck to all holders.

 

[nioka]

The EME share price has now shown a 100% increase for the day on the LSE. They only hold a small interest in the well tested. Looks like those ADI holders who have recently sold out should be very disappointed in the not too distant future. The results for EME must encourage the joint venture of ADI and it's partners to speed up the move towards development of their areas.