ADI - Adelphi Energy

[KillerWolf]

cheers for that Buzz, was wondering what happened. it's still gone to me :-/

i was beginning to think an overload of shte by certain parties had crashed the boards :-D

 

[tarzanhey]

ADVFN ......... problem is acknowledged by www.advfn.com
Quote:-
ADVFN is currently unavailable due to a general power failure at our hosting facility.
July 4th 2008 21:10: Our hosting providers are not providing an ETA for power restoration, but our best estimate at this point is at least 6 hours. They have tested one set of power supply systems in isolation and have commenced work on the the second set. When both sets have been tested they will gradually start supplying power to the data center.

When power is restored our engineers will then commence bringing services on-line.

We apologise for any inconvenience this has caused.

Thanks for that Buzz - seemed a bit of a mystery with no answer to emails to clem@advfn I was starting to wonder.


Back To Kennedy - I would love to be a fly on the wall (or rig) over there today and know what is happening.

good luck to all jvp holders.

 

[majorca]

So I take it there will be an announcement soon? Anyone know anything?
What is the go with this hundred character thing? Is it to force a conversation?
My wife needs one of these.

 

[barney]

What is the go with this hundred character thing? Is it to force a conversation?
My wife needs one of these.

LOL ..... Nice first post Majorca, just don't let your wife see it ..

You could be a candidate for this ... :horse:

or this .... :whip .............. then again some people like it that way !!

Welcome to ASF and ADI .... An interesting choice of threads for your first post ... Hope you hold a few.

 

[majorca]

Hey Barney,Actually my wife and I do hold , she actually bought the first parcel a bit over a year ago. It may yet be a stroke of brilliance, we are only about 20% down with a possibility of a huge upside. Though at the moment given the current economy 20% loss can be a good result? I have worked hard to loose more so at least we are doing it easy at present! And you are right she could kick my **** in a heart beat, I live in the constant fear of being embarrassed in front of my mates!

 

[Agentm]

KENNEDY -1H

Adelphi has been advised by the Operator, Texas Crude (“TCEI”) that the second stage of fracture stimulation took place on Thursday 3rd July. In preparation for the
stimulation, an additional three sets of perforations, each 3 ft long, were placed in between those used for the first stimulation in the bottom 600 ft of the well.

The fracture operation successfully placed approximately 100,000 lbs of high strength proppant into the fractures before high pumping pressures prevented the full
program being completed, this represents 90% of the planned fluids and 50% of the planned proppant.

Flow back has recovered about 1,200 barrels of the 6,540 barrels of fluids pumped during fracture operations. Trace amounts of gas and condensate were also recovered towards the end of this period.

Operations are now in progress to clean out any fracture proppant that was left in the well bore as a result of the early termination of fracture operations. After that, flow-back and testing operations will resume. Further announcements will be made as the results become available.

As previously reported, the Kennedy -1H is believed to be located in the middle interval of the chalk reservoir, which has not previously been fully tested. Adelphi remains encouraged by the demonstrable productivity from the first stimulation and looks forward to the results of the current stimulation of the same section of the well.

Adelphi has a 20% working interest in the Sugarloaf AMI.


that little line there is exactly what i would have expected.. chris is extremely conservative, and will not release anything unless its definitive.. this announcement is the best news i have had all week..

 

[nioka]

KENNEDY -1H

this announcement is the best news i have had all week..

It looks like the market will not settle for less than an announcement of an out of control gusher before giving the SP a boost. The last few days have not been too good for either ADI or AUT. I had been hoping that one would at least travel differently to the other. Where to for now? Will we ever get away from the groundhog?

 

[solomon]

I'm about to ask for a bit of spoon feeding as I don't fully understand the operational aspects of drilling a well - so 'no worries' if everyone ignores it - what are the implications of the 'high pumping pressure'?

Is this a good thing? Does it mean that they pushed as much proppant down there as they could and no more would go? And if so are there any implications of this.

 

[Agentm]

best i understand is this..

the well casing is rated to a certain pressure, you may have say 8000 psi on the pumper, and trying to get more in you need to up the rate to 12000 psi, but your casing may be rated to burst at 10000 psi, so on most sites you go to the max and then stay there, you cant go higher or risk bursting the pipe..

as for the screenout, there was 50% of the proppant in the formation, then the rest is in the pipe, jammed in there, and there is one big mess down there right now, this happened at kunde 3, they thought the well was dead, then when they cleaned it out, the well came on at about 2.5 mill,, the condesate there was pretty high 950 bopd.. 4000 psi and they had 4 sets of perfs on 900 feet of well..

i think some real clever buying is happening right now.. and i hope the sp keeps on dropping, i know a few who are buying right now..

you asked what the implications are for all this..

i see a few potential ones,

1. they clean up the well as they announced, and report the new anticipated flow rates and pressures..

2. they announce the condensate field officially.. have to re rate the value of adi surely??

3. the ones buying now have a huge smile on their faces! and the ones holding are extremely happy..

4. the jvp keep using words like "we are pleased to announce" and "encouraged" and "looks forward" for results of operations, and the market doesnt get it.. that implication remains very obvious to me!! great value in the sp..

5. everything they learn, even the partial screenout of this frac, is invaluable to all operations in the futrure..


lets see if the well cleans up and i am PLEASED to say i LOOK FORWARD to their ENCOURAGING reports in the near future..

all imho and dyor

 

[solomon]

Thanks AgentM - I think I get it. It does sound promising. If they can't pump anymore propant down then something must be stopping it - and seeing as there was already 40bpd coming out of the well - it could be a whole lotta oil!

----
this isn't financial advice just my opinion

 

[Agentm]

Thanks AgentM - I think I get it. It does sound promising. If they can't pump anymore propant down then something must be stopping it - and seeing as there was already 40bpd coming out of the well - it could be a whole lotta oil!

----
this isn't financial advice just my opinion

solomon, your getting it i see!

welcome to club sugarlaof!! and i hope the others in the club have got it also, i mean you cant tell me that a formation that is delivering minor gas, and 40 bopd is a gas formation, it has to be something else imho

 

[barney]

Hey Barney,Actually my wife and I do hold , she actually bought the first parcel a bit over a year ago. It may yet be a stroke of brilliance, we are only about 20% down with a possibility of a huge upside. Though at the moment given the current economy 20% loss can be a good result? I have worked hard to loose more so at least we are doing it easy at present! And you are right she could kick my **** in a heart beat, I live in the constant fear of being embarrassed in front of my mates!

Only 20% down .... I'm still 40% ........... Good luck to you and your wife

PS. I know a good boxing trainer if you need help with that wife of yours ..... I don't like bullies esok: (I bet she's really a good sort though)

It looks like the market will not settle for less than an announcement of an out of control gusher before giving the SP a boost. The last few days have not been too good for either ADI or AUT. I had been hoping that one would at least travel differently to the other. Where to for now? Will we ever get away from the groundhog?

Agree Nioka, I think the market may have misinterpreted the word "traces" re the gas and oil ........... Once the well is cleared of frac fluid, the picture will be a lot clearer ..........

PS. I'm off to feed my groundhog ... he's still hungry.:taz:

 

[Agentm]

worth a read from the uk bb..

i think when you see a person who is very experienced in the industry comment on a process that is not clarified in the asx announcement, it brings clarity and understandings that are very insightful and also takes the edge off the negitivity people have towards partial screenouts.. i see it as a 50% success rather than a 50% fail, conoco have failed twice n their frac attempts in zone 1 at kunde 3, but still got flow by doing a well clean up and discovering the formation was flowing naturally, then followed an acid job that worked brilliantly on the well..

imho TCEI is the only successful operator to frac a horizontal well into this very overpressurised rock and we are seeing signs of flow, and also traces of hydrocarbons, once the mess is cleaned up we will have a definitive result..



quattro44 - 10 Jul'08 - 09:54 - 32209 of 32309


The RNS is certainly not pointless to those that understand the oil business.

Solid chalk zones are notoriously difficult to frac, and there is a serious amount of knowledge to be learnt in this zone. When they say that they did not get all the proppant in due to high pressure, this would be due to the fracture propagation ending thus there would be nowhere for the proppant to go anymore thus the pumping pressure would gradually increase until it could not be allowed to go any higher. The amount that a zone can take under certain designs will vary, and something that needs to be learnt. The 'screening out' of the proppant is an entirely normal event in these circumstances, even if not entirely desirable. It would appear to me that they have done extremely well to get this amount of proppant away in such a zone, and they would always have an excess of proppant on site just in case the formation did take it all. They did in fact use most of the frac fluid, thus they have definitely managed to propagate the fractures, but at some stage, due possibly to the pressure increasing, they may have had to reduce the proppant concentration in order to keep things flowing. Thus it may be that they have learnt how to initiate the fractures, and get them a considerable distance from the perforations, but have not perfected the proppant concentration in order to ensure it is carried all the way to the furthermost voids.

They have used a synthetic proppant, almost certainly sintered bauxite, and the question is whether this was resin coated or not as to how long it will take them to extract the unused proppant from the well bore. This is because coated proppant sticks together under heat and pressure (whilst maintaining its permeability) and would be more difficult to extract from the well but is a normal practice, it just takes a little longer.
The well has already flowed back a significant amount of fluid, so this is clearly not a real problem. As the formation is so hard and the pressures high it is less likely that the proppant was coated as on pressure release the formation would more likely trap the proppant sufficiently to prevent it being blown out of the formation under production.

The fact that they have reported to the market at this juncture, and using the terminology they have, I would suggest means that they are extremely pleased at the result they got and are more than confident of very positive results. But that is just my opinion from my experience and I am a large holder here, so dyor etc etc.
q44

 

[nioka]

Another good day to move between ADI and AUT. There is always a lag in AUT catching up to a price increase of ADI as we have had today. I have made a couple of trades today and am now back 50/50 ADI and AUT. This has allowed me to get another 5% increase in my interest in sugarloaf at no cost and have a little more petty cash left over. As long as this one comes good in the end I find that I am enjoying groundhog day.

 

[sam76]

Another good day to move between ADI and AUT. There is always a lag in AUT catching up to a price increase of ADI as we have had today. I have made a couple of trades today and am now back 50/50 ADI and AUT. This has allowed me to get another 5% increase in my interest in sugarloaf at no cost and have a little more petty cash left over. As long as this one comes good in the end I find that I am enjoying groundhog day.

Well done on increasing your exposure,



Are you including brokerage and CGT in that 5% Nioka?

many thanks,

 

[nioka]

Are you including brokerage and CGT in that 5% Nioka?
,

Yes. I try and sell 20,000 but will trade with selling 10,000 min (shares that is) and invest the nett amount ( less some petty cash sometimes, usually to round off the number).It is not easy to trade larger numbers because of the low turnover. It is usually possible to do some trading most weeks. This can be done with a lot of dirrerent stocks. I am also trading the difference in MOS and MOSO, TEY and TEYO in the same way. I also trade within the group of Coal seam gas stocks, have just sold a few of my AOE and bought BUL as AOE has risen and BUL is being given away.

( on checking the BUL price has risen 11.36% since buying. I could probably now trade back to AOE for an increase in the number?)

 

[Agentm]

Yes. I try and sell 20,000 but will trade with selling 10,000 min (shares that is) and invest the nett amount ( less some petty cash sometimes, usually to round off the number).It is not easy to trade larger numbers because of the low turnover. It is usually possible to do some trading most weeks. This can be done with a lot of dirrerent stocks. I am also trading the difference in MOS and MOSO, TEY and TEYO in the same way. I also trade within the group of Coal seam gas stocks, have just sold a few of my AOE and bought BUL as AOE has risen and BUL is being given away.

you need to put a blog up on this imho, the way you trade really interests me, your very clever on when you move in and out.. i like your style and i think you could find a few would follow your moves.. have you ever gone into EKA in the shuffle?

 

[nioka]

you need to put a blog up on this imho, the way you trade really interests me, your very clever on when you move in and out.. i like your style and i think you could find a few would follow your moves.. have you ever gone into EKA in the shuffle?

Nothing really clever, it only needs a few watch lists and pick the changing relative values. I have not traded EKA as I found in the past they didn't give me enough advantage to get the in the first place because I preferred ADI or AUT to them.
This type of trading means you are never out of the market. On a falling market the CGT is not a problem, actually it is an advantage. You trade the one that has yet to fall for one that has fallen too far.

 

[daeff]

yeap agree nioka and I am following your plan.

I got set today on AUT cause I am not going to push up adi just yet....

more funds next week so will be watching which provides the best leverage as well...... EKA must also come on the radar although they are purely a SL play with nothign else....

can feel it gettign closer now... chart looks ready to pop

 

[Agentm]

15 July 2008
Company Announcements Platform
ASX Limited
Exchange Centre
20 Bond Street
SYDNEY NSW 2000

Via ASX Online

ADELPHI ENERGY LIMITED

Notice under Section 708AA

On 15 July 2008, Adelphi Energy Limited (Company)announced that it will be offering eligible shareholders the opportunity to acquire fully paid ordinary shares in the capital of the Company (Shares) via a non-renounceable rights issue on the basis of one Share for every six Shares held at the record date of 23 July 2008 at an issue price of $0.32 per Share (Rights Issue).

The maximum number of Shares which may be issued under the Rights Issue is estimated to be approximately 17,744,000 (assuming no existing options are exercised).

An Appendix 3B in relation to the Rights Issue is attached to this notice.

Notice under section 708AA of the Corporations Act
The Company hereby notifies that:

(a) the Company will offer the Shares for issue without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (the Act);

(b) the Company is providing this notice under paragraph 2f) of section 708AA of the Act;

(c) as at 15 July 2008, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company;

(d) as at 15 July 2008, the Company has complied with section 674 of the Act;

(e) as at 15 July 2008, there is no information:

(i) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and
(ii) that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:
(A) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or (B) the rights and liabilities attaching to the Shares; and

(f) the impact that the Rights Issue may have on the control of the Company is as follows:

The following table shows the number of Shares on issue as at the date of this notice and the total number of Shares on issue as at the close of the Rights Issue based on the maximum total Shares to be issued under the Rights Issue (assuming no existing options are exercised).
Shares on issue as at the date of this notice 106,458,662
Shares offered pursuant to the Rights Issue 17,744,000
Total Share on issue at completion of the Rights Issue 124,202,662

ARC Energy Limited (ACN 009 204 031) (ARC) has confirmed its intention to the Company to take up its full entitlement to subscribe for Shares pursuant to the Rights Issue with respect to its holding of 33,900,000 Shares.