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i have been told the adi management have viewed the merger as "positive" and they have no problem with it at all..
ADI - Adelphi Energy
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i have been told the adi management have viewed the merger as "positive" and they have no problem with it at all..
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i am not sure if anyone has been reading the hartley report..
i agree with the substance of what they say, but this part is very interesting to me.. it confirms the methods that meridian and geosouthern and conocophillips really abide by in their drilling programs, and i am very pleased that our jvp has aquired it for themselves..
"However, 3D seismic has now been acquired so that subsequent wells will be drilled into the natural fractures which should result in increased flow rates."
i know the use of 3ds has been instrumental in meridian getting exceptionally good wells in the east texas chalks.. and conoco are doing extensive 3d's before they drill away, and for our jvp to have been also doing one makes me sleep easier.. that is very positive news and one very important revelation in ensuring successes in the forward well program.
i agree with the substance of what they say, but this part is very interesting to me.. it confirms the methods that meridian and geosouthern and conocophillips really abide by in their drilling programs, and i am very pleased that our jvp has aquired it for themselves..
"However, 3D seismic has now been acquired so that subsequent wells will be drilled into the natural fractures which should result in increased flow rates."
i know the use of 3ds has been instrumental in meridian getting exceptionally good wells in the east texas chalks.. and conoco are doing extensive 3d's before they drill away, and for our jvp to have been also doing one makes me sleep easier.. that is very positive news and one very important revelation in ensuring successes in the forward well program.
Lucky_Country
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Well the northern hemisphere winter is now over and we are inching closer to testing on K1. Timeframe for testing is what I would like to see the ADI management release rather than rely on an AUT presentation that they didnt seem too fully endorse.
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hartleys indicate ~6 weeks
if you consider that kunde 3 may be pretty soon, then the timing makes sense... i think there are many projects on the verge of going somewhere, so plenty of news stops in the near term.. and i include NT like you do!
if you consider that kunde 3 may be pretty soon, then the timing makes sense... i think there are many projects on the verge of going somewhere, so plenty of news stops in the near term.. and i include NT like you do!
Work on New Taiton stopped in ~ March 2007, as a result of some technical issues and financial issues relating to the operator of the well.
In the last ADI half year report it was highlighted that legal proceedings had commenced against the operator and a new operator was being sought.
You would expect some progress has been made on this front (positive or negative) and that an update on New Taiton will occur in 2008.
Anyway been holding this stock for a while now, news in recent days has been good, albeit not directly about ADI wells but promising anyway.
Best of luck to all ADI holders.
AgentM - your research and insights have been great and valued - thanks for sharing it on the forums.
Lucky_Country
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Well quite a few of us have been holding for years and it has been a rollercoaster ride up and down maybe we are back on an upward sprint especially if news flows.
You would think that they wont let this go on much longer and also want too get down to the buisness of producing and drilling additional wells and returning some kind of reward to the holders.
You would think that they wont let this go on much longer and also want too get down to the buisness of producing and drilling additional wells and returning some kind of reward to the holders.
Improved flow
Regulatory Announcement
Go to market news section
Company Empyrean Energy PLC
TIDM EME
Headline Sugarloaf Block A - Update
Released 07:10 17-Apr-08
Number 5292S
RNS Number:5292S
Empyrean Energy PLC
17 April 2008
Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker: (EME))
Sugarloaf Block A, Texas USA
------------------------------
- Flow testing of the TCEI JV Block A-3 well continues successfully.
- Flow rates have increased by approximately 20% since testing began
to the most recent rate of 7.8 million cubic feet of gas equivalent per day.
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 continues and since the
last report the operator has successfully collected pressure and other
data measurements from the well. The well was then opened back to flow
and the operator has increased the choke size incrementally to 14/64".
As of the latest report the well was flowing at approximately 2.2
mmcfgpd (million cubic feet gas per day) with over 560 bcpd (barrels of
condensate per day) and nil bwpd (barrels of water per day) with a FTP
(Flow Tubing Pressure) of around 2500 psi (it is normal for FTP to drop
as the choke size increases).
On the present day prices for condensate and gas whilst converting the
condensate to a gas equivalent, the most recent recorded equivalent gas
flow rate exceeds (using a 10:1 conversion) 7.8 mmcfepd (million cubic
feet gas equivalent per day).
Commenting today, Empyrean Executive Director Tom Kelly said "So far
this well is exceeding our expectations from an open hole test without
stimulation. Importantly the pressures are excellent for the rates of
flow recorded. Condensate is making up over 70% of the flow in terms of
value, and with the oil price reaching record highs this condensate to
gas ratio is healthy for the economics of the project."
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.
Regulatory Announcement
Go to market news section
Company Empyrean Energy PLC
TIDM EME
Headline Sugarloaf Block A - Update
Released 07:10 17-Apr-08
Number 5292S
RNS Number:5292S
Empyrean Energy PLC
17 April 2008
Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker: (EME))
Sugarloaf Block A, Texas USA
------------------------------
- Flow testing of the TCEI JV Block A-3 well continues successfully.
- Flow rates have increased by approximately 20% since testing began
to the most recent rate of 7.8 million cubic feet of gas equivalent per day.
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 continues and since the
last report the operator has successfully collected pressure and other
data measurements from the well. The well was then opened back to flow
and the operator has increased the choke size incrementally to 14/64".
As of the latest report the well was flowing at approximately 2.2
mmcfgpd (million cubic feet gas per day) with over 560 bcpd (barrels of
condensate per day) and nil bwpd (barrels of water per day) with a FTP
(Flow Tubing Pressure) of around 2500 psi (it is normal for FTP to drop
as the choke size increases).
On the present day prices for condensate and gas whilst converting the
condensate to a gas equivalent, the most recent recorded equivalent gas
flow rate exceeds (using a 10:1 conversion) 7.8 mmcfepd (million cubic
feet gas equivalent per day).
Commenting today, Empyrean Executive Director Tom Kelly said "So far
this well is exceeding our expectations from an open hole test without
stimulation. Importantly the pressures are excellent for the rates of
flow recorded. Condensate is making up over 70% of the flow in terms of
value, and with the oil price reaching record highs this condensate to
gas ratio is healthy for the economics of the project."
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.
Lucky_Country
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Roll on K1 testing !
Great news anyone a non beliver now ?
I am really getting impatient now just badly want too test K1 and see the results get the well into production and watch the shareprice pay for my retirement !
Great news anyone a non beliver now ?
I am really getting impatient now just badly want too test K1 and see the results get the well into production and watch the shareprice pay for my retirement !
from Quattro 44 on advfn re new EME rns
This RNS is more significant than the first. They have now basicaly proved up a field and not just one well. Very fast pressure build up on shut-in; extra flow with larger choke; constant well head pressure; open hole; no stimulation; partly driled hole. This is a Jed Clampet moment and a company maker, but the real significance does not appear to have been realized yet.
q44
This RNS is more significant than the first. They have now basicaly proved up a field and not just one well. Very fast pressure build up on shut-in; extra flow with larger choke; constant well head pressure; open hole; no stimulation; partly driled hole. This is a Jed Clampet moment and a company maker, but the real significance does not appear to have been realized yet.
q44
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good to see q44 comments,,
i noticed them too..
i think ed will appear again.. tarz, if you can, as i know the UK bb will go nuts again,, if ed posts some good engineering perspectives on this can you perhaps post them here..
i noticed them too..
i think ed will appear again.. tarz, if you can, as i know the UK bb will go nuts again,, if ed posts some good engineering perspectives on this can you perhaps post them here..
hey y'all !!
nice to see some good news for the sugarloaf stocks.... at last!!
believe it or not I still have a few ADI in my basket- though I did sell most last year when I felt the delays might go on forever and figured I'd be better invested elsewhere for a while.
Must admit the groundhog day delays drove me nuts for a bit - so I went AWOL from the thread and focused on other stocks!!
Without AgentM's bottomless enthusiasm - based on deep research - I probably would have sold the lot... so thanks muchly for your hard work bloke, and likewise to all the other experienced and knowledgeable posters who have made this thread a great educational experience for the likes of me!!
Looking now like it might be time for me to find some more cash to throw at ADI soon (was beginning to think I would never say that!).
I'm still expecting slow, steady progress from here though - as it seems all the junior partners are subject to the plans of CP who no doubt know how to wrap the leases and get the most out of the project. ... they also aren't in any hurry what so ever - seeing POE seems unlikely to come down any time soon!!
So as (secret?)AgentM has always said - it's a waiting game - but there is light now... getting brighter.. slowly!!!!!!!
- good luck all believers!! (and re-believers!)
-Dukey
Quick thought on ARQ - the hartleys report values ADI at 2c to ARQ !!! so theres gotta be some upside there!!
nice to see some good news for the sugarloaf stocks.... at last!!
believe it or not I still have a few ADI in my basket- though I did sell most last year when I felt the delays might go on forever and figured I'd be better invested elsewhere for a while.Must admit the groundhog day delays drove me nuts for a bit - so I went AWOL from the thread and focused on other stocks!!
Without AgentM's bottomless enthusiasm - based on deep research - I probably would have sold the lot... so thanks muchly for your hard work bloke, and likewise to all the other experienced and knowledgeable posters who have made this thread a great educational experience for the likes of me!!
Looking now like it might be time for me to find some more cash to throw at ADI soon (was beginning to think I would never say that!).
I'm still expecting slow, steady progress from here though - as it seems all the junior partners are subject to the plans of CP who no doubt know how to wrap the leases and get the most out of the project. ... they also aren't in any hurry what so ever - seeing POE seems unlikely to come down any time soon!!
So as (secret?)AgentM has always said - it's a waiting game - but there is light now... getting brighter.. slowly!!!!!!!
- good luck all believers!! (and re-believers!)
-Dukey
Quick thought on ARQ - the hartleys report values ADI at 2c to ARQ !!! so theres gotta be some upside there!!
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EME up another 20% on the further good news ........... Looking like a good well for them at this stage.
Heres a link (hope it works) for anyone who likes to read a bit of technical stuff .. "Dynamics of Oil and Gas Accumulations" ............ (P107 has a bit on Chaulks)
http://books.google.com.au/books?id...g=qcyjjA-hzmxUVcDN9kI6TIDUVkc&hl=en#PPA107,M1
Heres a link (hope it works) for anyone who likes to read a bit of technical stuff .. "Dynamics of Oil and Gas Accumulations" ............ (P107 has a bit on Chaulks)
http://books.google.com.au/books?id...g=qcyjjA-hzmxUVcDN9kI6TIDUVkc&hl=en#PPA107,M1
Many seem to have missed the signifigance of todays update.
When Ed posts next I will post it here.
Cheers.
Tarz
Lucky_Country
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Seems like upward pressure definately building as news flows out.
Not sure why anyone would be selling now as we must now surely be close.
Im definately interested and excited by what they have got in Texas and the icing on the cake would be a positive result from NT.
Indonesia (if sucessfull), Timor Sea, Yemen and maybe Africa all exciting projects.
Not sure why anyone would be selling now as we must now surely be close.
Im definately interested and excited by what they have got in Texas and the icing on the cake would be a positive result from NT.
Indonesia (if sucessfull), Timor Sea, Yemen and maybe Africa all exciting projects.
Lucky_Country
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King Baz with a very good read found this on SS.
Just another thing for everyone to ponder on the fortunes of ADI and their Sugarloaf Project.
Just another thing for everyone to ponder on the fortunes of ADI and their Sugarloaf Project.
I am new to the site but am a shareholder in AUT and wanted to hear anyone's views on why there is such a disparity on relative values on all the listed SL JVP's.
AUT has the most exposure to the Sugarloaf area more that 17,000 gross acres (ADI has approx 4,000 acres) and sufficient cash to fund the next 6/7 wells.
However ADI is capped at $30m net of cash and AUT is capped at $43m net of cash.
Interested in any comment.
AUT has the most exposure to the Sugarloaf area more that 17,000 gross acres (ADI has approx 4,000 acres) and sufficient cash to fund the next 6/7 wells.
However ADI is capped at $30m net of cash and AUT is capped at $43m net of cash.
Interested in any comment.
Lucky_Country
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Check out the ammount of shares on offer from each company and you will see ADI has a greater leverage with less risk attached.
Lucky_Country
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4 times the funding and 4 times the risk.
ADI have a lot of other exciting projects and backing from ARQ.
ADI have a lot of other exciting projects and backing from ARQ.
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with aut you have all your eggs in one basket, they are "all in" so to speak on sugarkane..
ADI has other prospects all over the world adding value to it. such as
Timor sea wisteria.. which is about to spud. free carry on that offshore well
Yemen. two blocks with oil search (recently oilssearch sold all of its interest in most of its blocks which Macquarrie valued at $88 mill for over $200 mill but held onto the better blocks such as block 7 and maybe a few more?) block 7 sits just a few kilometres from one of yemens largest recent discoveries,
"The most noteworthy discovery from Adelphi's point of view is that OMV has commenced the development of its Al Nilam and Habban discoveries. This oilfield – believed to be a single large structure, is located just a few kilometres from Block 7. First oil production from the Al Nilam field commenced in late 2006 at a rate of 1,000 bopd through temporary production facilities. The field is expected to be developed in a staged process, with production rates to reach 32,000 bopd by 2009/10 while proven field reserves are 50 mmbbls and the field's production life will be about 20 years.
The pipeline and development infrastructure being put in place by OMV will improve the economics of any discovery made in Block 7. "
There is NT, which will also be completed once the litigation on the operator has been completed, could be any time i hear..
Indonesia.. a play which ADI has been working 3 years on..
no doubt that sugarkane is very prospective, but if you get too greedy and take a massive slice of the area, you must also be able to fund the hundreds of wells and also be aware that the leases could easily run out unless you get cracking.. you would need a lot of rigs, alot of capital to get such a massive show that aut have on the road..
as an AUT investor tck, have you asked AUT why its not going ahead with any wells on any of its extended leases? they have a lot of acreages to put wells on and surely they must have to get started soon? they tout ipeama ond longhorn as being prospective acreages, which i totally understand, yet no wells have been discussed there? maybe AUt will only have parity with some of its compatriots as long as it continues to only be exploring the sugarloaf ami 20,000 acreages?
what are your thoughts?
ADI has other prospects all over the world adding value to it. such as
Timor sea wisteria.. which is about to spud. free carry on that offshore well
Yemen. two blocks with oil search (recently oilssearch sold all of its interest in most of its blocks which Macquarrie valued at $88 mill for over $200 mill but held onto the better blocks such as block 7 and maybe a few more?) block 7 sits just a few kilometres from one of yemens largest recent discoveries,
"The most noteworthy discovery from Adelphi's point of view is that OMV has commenced the development of its Al Nilam and Habban discoveries. This oilfield – believed to be a single large structure, is located just a few kilometres from Block 7. First oil production from the Al Nilam field commenced in late 2006 at a rate of 1,000 bopd through temporary production facilities. The field is expected to be developed in a staged process, with production rates to reach 32,000 bopd by 2009/10 while proven field reserves are 50 mmbbls and the field's production life will be about 20 years.
The pipeline and development infrastructure being put in place by OMV will improve the economics of any discovery made in Block 7. "
There is NT, which will also be completed once the litigation on the operator has been completed, could be any time i hear..
Indonesia.. a play which ADI has been working 3 years on..
no doubt that sugarkane is very prospective, but if you get too greedy and take a massive slice of the area, you must also be able to fund the hundreds of wells and also be aware that the leases could easily run out unless you get cracking.. you would need a lot of rigs, alot of capital to get such a massive show that aut have on the road..
as an AUT investor tck, have you asked AUT why its not going ahead with any wells on any of its extended leases? they have a lot of acreages to put wells on and surely they must have to get started soon? they tout ipeama ond longhorn as being prospective acreages, which i totally understand, yet no wells have been discussed there? maybe AUt will only have parity with some of its compatriots as long as it continues to only be exploring the sugarloaf ami 20,000 acreages?
what are your thoughts?
