ADI - Adelphi Energy

[tarzanhey]

yes, rig cost would be around $500k per week, with staff, etc on top of that. Just imagine withdrawing 17,500ft of drill rods to replace the diamond drill bit, then lowering it back down the hole....massive job and I'd say they're probably using 45-50ft drill rods.

They were on the money with the secondary depths, but it looks like Hosston is a little deeper than anticipated. Surely they must be so so close now??

Can anyone tell me, are they planning to release a preliminary announcement once they hit hosston and possible revealing they have a gas show, or are they going to wait til they hit bottom @ approx 21,00ft then reveal everything in 1 hit??

imagine - how many drill rods they needed take up to replace the drill bit - assuming say 50 ft each that is a least 350 rods for 17500 ft ( I am not surprised it took a week).

Drilling on now so will be in there soon.

Remember secondary's are already good!

Hosston is the thick icing to the sugarloaf- the rest of the cake is already there and very edible - patience will be rewarded.

 

[maverick11]

Found out the drill rods are approx 30ft each, so that's a sh*#load of rods!! Approx 580 to be exact!

If the SP drops much more as people get itchy feet, I will be looking at ways of buying more too!

Actually, when I think about it, this stock has been yo-yo'ing on anticipation over the last few weeks..if I had sold at peaks and bought at lows, I would be sitting on a sweet little profit from that alone. I know of a couple people who are actually doing this... But would hate to miss this boat when it sets sail!!

 

[nioka]

If the SP drops much more as people get itchy feet, I will be looking at ways of buying more too!

Actually, when I think about it, this stock has been yo-yo'ing on anticipation over the last few weeks..if I had sold at peaks and bought at lows, I would be sitting on a sweet little profit from that alone. I know of a couple people who are actually doing this... But would hate to miss this boat when it sets sail!!

Actually this was my point earlier Computer generated buying and selling by day traders and particularly stop loss selling which has a domino effect. Easily explained by my position on the stock pick. 1st at one stage, now 66th. You have 2 choices join the day traders or stick in there. Day traders may not be holding when the news breaks. They also run the risk of a trading halt in this type of business and if they are on credit it will create problems for them. I'm backing my judgement and sticking in there but then I,m not always right, My future doesn't depend on it so I can afford to be wrong. Remember the greater the gain, the greater the risk, usually.

 

[HOMER J]

ADI sitting still so far today although its doing some decent volumes. looks well supported around 56-57. from a T/A perspective its closed a gap at 59 in the last few days so a few traders might be happier buying now. EKA/AUT up a little too. Wonder if well see buying tomorrow to be holding over the weekend.

cheers

 

[maverick11]

All morning people have been sitting tight, then i get back from lunch and the sp price has gone choppy again. Mannn! I want more!

I agree that there's a good chance it will close strong tomorrow evening

 

[fflintoff]

OIL BARREL - Bullish

Taken from oilbarrel.com today:
Empyrean Energy Looks To Sugarloaf Prospect For Sweet Smell Of Success
London AIM-listed Empyrean Energy is drilling ahead with the Sugarloaf-1 exploration well in Texas, where it hopes to bring a smile to investors’ faces ahead of the Christmas break. Empyrean is earning a 6 per cent equity share in the Sugarloaf Hosston prospect in the onshore Gulf Coast Basin, with initial drilling scheduled for completion later this month, slightly behind original timings.

Empyrean farmed into the acreage earlier this year and partners Aussie duo Aurora Oil & Gas and Adelphi Energy, alongside operator Texas Crude Energy Inc. The proposed total depth of the well, which crosses a number of potentially interesting formations, is around 21,000 feet.

There is clear potential, especially in such a built-up, gas-hungry neighbourhood. Sugarloaf is an 80 km four-way closure that could hold several trillion cubic feet of gas, making it one of the largest undrilled structures onshore US. The P50 resource number on the prospect is 0.97 tcf and it carries a P10 estimate of 2.3 tcf.

But only time will tell how good Sugarloaf will taste. In the meantime, Empyrean can take heart from earlier drilling at its other US play, the Eagle Oil prospect in the San Joaquin Basin in California. A proven oil and gas zone - the area has produced some 12 billion barrels of oil and 11 tcf of gas through the years - the project offers strong potential for near-term production and cash flow.

Empyrean signed up for a 38.5 per cent slice of Eagle Oil just months after its market listing last year, and now partners another reputable Aussie in the shape of Victoria Petroleum NL. But getting the oil out of the ground is the key challenge. A workover rig is testing encouraging oil shows from previous drilling at the Eagle North-1 well, though the project has faced delays due to supply and equipment bottlenecks.

The group plan a future re-entry and sidetrack from the current cased Eagle North-1 well bore in the lower Gatchell oil sand, about 14,000 feet down. This future well test will indicate the size of the Eagle Oil pool, according to Tom Kelly, Empyrean’s commercial director. “We know that oil is there,” he says. “We just need to flow test.”

More than a year after its AIM listing, Empyrean has bolstered its portfolio with two promising, and fairly low-risk, US-based projects. An additional capital raising exercise earlier this year means it is well placed to continue its exploration and work towards first production. This includes ongoing site work in Germany, the firm’s other core territory.

On the other side of the Atlantic, the UK firm has a stake in the Glantal Prospect, Neues Bergland permit, close to Frankfurt, which is operated by Pannonian International Limited. The joint venture, which gives Empyrean a 40 per cent working interest - and the possibility of raising this to 52 per cent - hopes to extract gas trapped in deep coal beds.

Again, the prospect is thought to contain several tcf of recoverable gas reserves, hugely attractive figures anywhere but especially so in Western Europe’s industrial heartland. But there is still some way to go, with further testing planned following initial positive drilling and gas shows.

 

[fflintoff]

yes, rig cost would be around $500k per week, with staff, etc on top of that. Just imagine withdrawing 17,500ft of drill rods to replace the diamond drill bit, then lowering it back down the hole....massive job and I'd say they're probably using 45-50ft drill rods.

They were on the money with the secondary depths, but it looks like Hosston is a little deeper than anticipated. Surely they must be so so close now??

Can anyone tell me, are they planning to release a preliminary announcement once they hit hosston and possible revealing they have a gas show, or are they going to wait til they hit bottom @ approx 21,00ft then reveal everything in 1 hit??

-----------------------------------------------------------------
Approved budget is US$5750000. Daily costs approx US$75000.
Any price sensitive news to be released before TD. The last two announcements were not price sensitive but the previous Wed statement was categorised as ! ( Price Sensitive ).

 

[tarzanhey]

Did anyone know that Sugarloaf was stated as being in three counties?

Couch describes it as



Sugarloaf Hosston Prospect



Bee, Karnes and Live Oak Counties, Texas


EVERYTHINGS BIG IN TEXAS

 

[Agentm]

I have been watching GDN for the past weeks, not as a buyer, not even remotely interested in the stock, but watching it as to what a disaster it can be for a company to ramp up any find without any evidence to prove commercial viability..

ADI has been smooth here i feel,, they could have disclosed the logs, could have the price at $1.20 now,, then suffer the 20% -30% price fluctuations..

In my opinion no director at ADI wants any of the daytrading senario thats happening on some smallcaps.. and any shows from now on will be reported weekly and reported quietly.. there is nothing to gain by seeing massive spikes on the stock, i would expect a slow and steady rise as the news breaks from week to week..

I cant see these guys doing wirelines until they completed the drill to TD..
I wouldnt think that any other news besides mudlogs can be given.

I wouldnt want to be a director getting calls from investors after their share price goes down 30 -50% and these guys at ADI are not in my view going to benifit from ramping or spruiking sugarloaf, in my opinion theres going to be little fanfare from here on in, the only price sensitive report was listed a while ago and its up to the incvestor to believe the report has some merit or not.

I firmly believe this well aint going to be ramped, and it isnt going to be driven by daytraders too much as the directors are not going to play along.. the best a daytrader can do with this stock is second guess a result in a weekly report..

i hope the share price remains steady, and conservative, its still great value in my opinion as i have faith in the austin chalks find as i dont think ADI has anything to gain by stating they are possibly drilling 2 further wells at sugarloaf.. my reasons to invest are for the 2 secondaries at sugar loaf and the 3 plays at new tiaton, i wont be reevaluating anything until both shows are over and the values are on the boards..

if you into day trading this stock good luck and enjoy it, but i honestly dont think the ADI guys are the type to join in, they have their own money in this, and they paid full price.. 5% of ADI is directors, and 26% is ARQ and those guys are not cowboys and are not ramping... ARQ has good reasons to see its stock remains stable also and playing around with sugarloaf is not going to happen..

I believe the stock is value today on the basis of the secondaries, and if anyone wants to punt on the 22% chance of the primary going off then its there for anyone who comes on board..

steady as she goes for a few weeks is my pick.. and regarless of ups or downs this has no bearing on my outcome, as i wont exit until i get the value i went in this play for..

cheers

 

[Broadside]

hi AgentM, I hope you're right and agree how the partners handle their news releases doesn't give daytraders much of a sniff. Despite that if there are signs of gas in Hosston, even though they won't be quantified, a lot of daytraders will be all over it...a lot of money has been made on GDN (thus far) and some of those profits will be punted onto Sugarloaf if the primary target looks promising. Should be an interesting afternoon. Very quiet day thus far.

 

[Agentm]

just being a little bit curious about the eka report..

it announces the 98 foot play and adds some great stuff i have not seen before..

if they state the wilcox play has 47 BCF in it, then that should impact a little on the share price,, 27BCF alone is supposed to be worth .63 so so it would be worth double that then on top of the share price..

am i reading their report right..?? page 9...

 

[cicak_kupang]

just being a little bit curious about the eka report..

it announces the 98 foot play and adds some great stuff i have not seen before..

if they state the wilcox play has 47 BCF in it, then that should impact a little on the share price,, 27BCF alone is supposed to be worth .63 so so it would be worth double that then on top of the share price..

am i reading their report right..?? page 9...

Yeah, I'm reading it the same Agentm. ADI doesnt need to do any announcements at this rate, every one else is doing for them, ADI just playing the cool cats....

 

[Agentm]

i've been told i could be jumping at shadows,, it may mean another well near by and not the sugarloaf well when they say:

Recent drilling results indicate significantly increased potential in the shallow

objectives.
​

cheers

 

[Broadside]

regardless of who is saying what, the market doesn't seem to be factoring it in....I think ADI and its partners for that matter would still be around these prices just prior to Hosston even if secondaries had been fizzers...the market doesn't seem to be joining the dots, or alternatively we are doing so errantly. I think it is the former.

 

[fflintoff]

EKA Corporate Report dated November 3, 2006 confirms TD end of Nov rather than mid Nov as hitherto because of the delay caused by the extra casing to stem the Sligo pressure & the change to the drill bit & bottom hole assembly. Hosston primary target is angled at 4000ft from 18000ft. ARQ report infers that this target will be entered this week & drilled at say 140ft per day. There could be several trading halts over the next 15 - 18 business days.

 

[Dukey]

G'day all you'se ADI'ers!!

The question of timing of ADI releases seems to coming up regularly. But as far as I see it - from reading the regular Wed. releases they state clearly ...

quote
'ASX releases will continue to be made routinely every Wednesday unless there are material matters that require earlier release'
unquote

Wouldn't significant gas in Hosston constitute a 'material matter'?
I would've thought so - so I would expect that any such find should be released to the market ASAP - so as to avoid those with inside knowledge gaining too much advantage. IMHO.

Either way - holding on and waiting... waiting - not selling... NOT selling!!

Secondaries are nice insurance heh!?

 

[maverick11]

There could be several trading halts over the next 15 - 18 business days.

Wouldn't that be an awesome ride!! Better than sex... well not quite

Have a good weekend everyone

 

[Lucky_Country]

Well ARC has been tipped as a buy in both ninemsn Money magazine and in WA Sunday Times any relation too Sugarloaf being so close ?

 

[Agentm]

no doubt the fact that alex has emailed a few from HC (on the EKA page) and confirmed the sort of things he did, makes me wonder how long it will be before the market reacts..

confirming the secondaries are capable of requiring a significant number of additional wells is starting to sound like couchy was right!!

hope alex is right..

cheers

 

[HOMER J]

yes i just noticed that post, very interesting. ill post it here:

Hi Steve,

Whilst it is still a little early to predict the number of wells we would be drilling on our Sugarloaf leases as a result of this current well, a development of the shallow discovery, if it is proved to be commercial following testing, can be expected to result in a significant number of additional wells.

We will advise the market as soon as we have a confirmed date for spudding New Taiton but we would certainly expect to commence drilling prior to year end at the latest.

Regards

Alex Forcke

Executive Chairman

Adelphi Energy Limited

Ground Floor

88 Colin Street

West Perth WA 6005

Tel: 61-8 9263 4600

Fax: 61-8 9263 4688

Mobile: 0417 188 474



side note: i just noticed a nice 150000 bid on ADI. could be a good day