ADI - Adelphi Energy

[Agentm]

blues, the last bit has been missed by all..

"as well as successfully fraccing the chalks. "


chalks are not fraced traditionally as they dont flow off a frac , unless the high matrix chalks can allow it. the success in the frac is monumentally important to everyone, and to be able to tap into the chalks and fracture stimulate it and not rely soley on natural fractures, which is the only way to get commercial wells traditionally in all thr major chalks fields like the giddings and pearsall, which have nothing in terms of matrix porosity like we have in the sugarkane.. its extremely exciting news..

its like most things on this share,, it slips past the keeper..

the jvp are making no comment on anything so far, they will want to be 100% sure that this stunning news continues, then i am sure they will be opening up and delivering their verdict..

imho, right now i am extremely pleased.. looking forward to the confirmations and updates.

 

[Broadside]

how do you see things unfolding now AgentM? do you think we will see an acceleration of the entire program? thanks for all your posts, continue to hold and always read your opinions with interest.

 

[Agentm]

imho there is a lot of work to be done on all the wells so far completed, including the borovsky well conoco has completed in karnes county recently.

meridian are about to drill in the near future, and wells are planned by the jvp already, the idea is to complete kennedy, and there are many wells that conoco have that could be completed in the near future also..

the successful frac is a milestone, and very important to the abilty to explore and drill dual laterals or even more elaborate configurations into the chalks in the future..

the flow back of fluids with condensate and gas is a good sign, but once the fluids have returned they have more options still on the well to further stimulate the chalks.. these are real early days and its looking very positive thus far. only 900 feet perforated and we do not know which chalks had the best shows and which section of the well is viewed the most favourable. it would be impossible to say the back end of kennedy is the most prospective, from memory they got a few shows more in first half of the well. never heard anything positive on the last section.. so if these chalks are not the best ones and most ideal and they flow,, its extremely exciting imho..

 

[noco]

Interesting buy by ARC today. Holdings in ADI increased from 17,500,000 to 33,900,000 reprsenting an increase of voting power from 24.88 to 31.994.
ARC must have a lot of confidence as to what is happening with ADI.
ALL IS LOOKING GOOD FOR ADI SHARE HOLDERS.

 

[Agentm]

noco

cant say i get your post exactly???

the arq holding has been at the level it is today for a considerable time..

 

[noco]

noco

cant say i get your post exactly???

the arq holding has been at the level it is today for a considerable time..

Yes Agentm you are right; it was just a formalisation from 15/09/06 and 10/01/07. Thought I was onto something good. Will have to read the info more carefully next time.

 

[Agentm]

i think the announcement took its time to get out, a touch late imho..

perhaps picked up in due dilligence?


it has been like many things adi, long in the wait..

 

[cicak_kupang]

Why would ARQ re-release an old announcement about thier increased holding in ADI, on the same day when ADI has a promising sounding announcement, if ARQ wasnt trying to maybe draw importance to what ADI has at SL?
Maybe ARQ knows what they are onto at SL and are trying to draw attention to that. If that results in any substantial ARQ SP increase, may also mean that AWE may have to re-nego an offer for ARQ? IE; the $1.59 per share offer with 32% interest in ADI with what they are onto at SL is a bargan basement price and ARQ wants a better offer?

Comments Anyone?

 

[Agentm]

i think your drawing a long bow.. arq does not practice the things you suggest

imho you need to forget all about arq.. in all seriousness the focus that adi have right now is entirely on a well called kennedy 1h in texas. that well has brought back gas and condensate in the return of frac fluids and in a few days as the well cleans up there is a good chance that the kennedy well which is out of zone may just produce from the matrix chalks without any connectivity to any natural fractures.

 

[barney]

Both ADI and particularly AUT being pushed up today on only a handful of orders ................ and I doubt it is "short covering"
I suspect an announcement is close, and the price action points to a positive statement. I actually don't expect too much from Kennedy due to the off target drill, but a lot of tries in rugby league are scored after a dropped ball ........ Lets get this game started ... The crowd is restless

 

[blues]

Update from Bounty today. ADI does have other things about to happen.

WISTERIA 1 – AC/P 32, TIMOR SEA
Bounty Oil & Gas N.L. (“Bounty”) announces that drilling of the Wisteria 1 well in
the Vulcan Sub Basin; AC/P 32; Ashmore Cartier Region, Timor Sea is on track to
commence in late July, 2008 using the “Western Atlas” rig.
Bounty holds a 10% interest in the well and in this large 1,092 sq km permit.
Bounty is contributing 7.6% to the dry hole cost of Wisteria 1.
Wisteria 1 will test 3 zones for oil with a combined resource potential estimated at
around 180 mmbbls of oil.

 

[Agentm]

there is a lot to like about wisteria i think, initially i had little regard for it, but i have been looking at the jvp's research they put on their websites, and its extremely interesting..

yemen really excites me and i cant stress how good block 7 is..

sugarkane, well for me itsthe major reason for the long stay in this share..

looking forwad to the O&G conference in sydney, will repot on here and the other boards on what i pick up,, i hear a few others will also be there so plenty to come..

watch for the adi release on the day (tuesday i imagine) should be very insightful on all the projects and give investors, and future prospective investors a lot to digest..

 

[Lucky_Country]

Oil at record highs ADI must be licking their lips at a positive outcome from K1 but will we get a positive outcome.
2 weeks since testing began and seems that there announcements are very carefully worded that to me says they are quitely confident.
What will this week bring a final result on K1 positive or negative ?

 

[Agentm]

there are two ways of looking at this..

one is that all outcomes completely are dependant on kennedy..

the other is that the future of the play is already known and that irrespective of kennedy the sugarkane zones are going to be developed..

only one is really correct..


all imho and dyor, and suggest aut presentation recently will give you the answer..

 

[Lucky_Country]

Well I must agree with you there AgentM and my feeling is regardless of K1 Sugarkane will be developed !
Time will tell but surely news must be forthcoming soon !
We have waited thyis long lets hear the full story ADI

 

[Agentm]

KENNEDY-1H OPERATIONS UPDATE Eureka Energy Limited (ASX: EKA, “Eureka” or “Company”) is pleased to announce that it has been advised by Texas Crude Energy Inc. (“TCEI”), the Operator of the Sugarloaf joint venture within the Sugarkane Gas and Condensate field, that production tubing has been successfully installed in Kennedy - 1H and the well has been flowed and placed back on well test. The reservoir stimulation program on the Kennedy-1H well commenced on 14 May, 2008 with the hydraulic fracture stimulation (“frac”) of an approximately 600 feet long zone at the end of the horizontal section of the well via four sets perforations. As at 6am Texas time on 25 May a total of 1,274 bbls of frac fluids and 257 bbls of condensate had been produced from the well which is continuing to produce small quantities of gas and condensate. With the production tubing now in place there are several options available to accelerate the recovery of frac fluids and the potential for additional fracture stimulation along the horizontal section of the well will also be considered. The condensate and gas recoveries from this zone are encouraging being the first conclusive test of this lower zone within the Sugarkane Austin Chalk. Further releases will be made as appropriate. Eureka has a 12.5% working interest in the Sugarloaf Joint Venture. Yours faithfully EUREKA ENERGY LIMITED Graham Dowland

 

[Lucky_Country]

Just so happy with the results so far in K1 its been a long wait but this zone is such a bonus.
ADI is now in a great position and has been extremly well handled by management.
Good luck too all holders !

 

[Broadside]

see the Excellence in Oil presentation released today. Very positive for Sugarkane, next horizontal well in July and 2 more following this calendar year.

Sugarkane "on threshold of being proven"...exciting times for patient shareholders.

 

[Lucky_Country]

What I liked about the presentation was that it was very upbeat yet conservative in line with ADI managements approach.
SL looks the goods but with some other very exciting projects going forward.
Let the good times begin.

 

[tomcat]

Tom Kelly a bit more optimistic on Kennedy and the significance to the play:

RNS Number : 2704V
Empyrean Energy PLC
27 May 2008

Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker: (EME))
Sugarloaf Prospect, ("Sugarloaf"), Block B, Texas USA


* Kennedy ž1 well flows gas and condensate from a new pay zone
* New pay zone is 120 feet thick versus 80 feet thick upper zone already producing
from two wells in Block A
* This test alone could more than double the potential recoverable reserves from the
project

Empyrean, the AIM listed oil and gas explorer and producer with assets in Germany and USA
today announces the following:
Kennedy ž1 Well
Empyrean has been advised by Texas Crude Energy Incorporated ("TCEI"), the operator of
Block B on the Sugarkane Gas and Condensate
field, that production tubing has been successfully installed in Kennedy ž1 and the well
has been flowed and placed back on well test. The
reservoir stimulation program on the Kennedy ž1 well commenced on 14 May, 2008 with the
hydraulic fracture stimulation ("frac") of an
approximate 600 ft zone at the end of the horizontal section of the well via four sets of
perforations.
As at 0600hrs (US CST) on the 25th May 2008 the well had produced a total of 1,274 bbls of
fracture fluids, 257 bbls of condensate and
is continuing to produce small quantities of gas and condensate. With the production tubing
now in place there are several options
available to accelerate the recovery of fracture fluid and the potential for additional
fracture stimulation along the horizontal section of
the well will also be considered.
Commenting today, Empyrean Executive Director Tom Kelly said "This is very encouraging
news for the project as a whole because we now
may have approximately 150% larger potential recoverable volumes when you add this new "middle
pay zone" to the "upper pay zone" that we had
already proven commercial from the testing of the Block A wells. Significantly, this test at
Kennedy was a relatively small fracture
stimulation conducted over a relatively small horizontal section of the well and we would
expect that much better flow rates can be achieved
using knowledge gained from these early wells. The completion technique used on this most
recent test should measurably improve the
production rates for the third potential pay zone, a lower zone some 50 feet thick, which was
initially tested by the Sugarloaf-1 vertical
well."
Further releases will be made as appropriate.
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.
For further information: