ADI - Adelphi Energy

[Agentm]

your crackin me up nioka..

i bet its you thats sellin and buyin.. somehow you'll end up with 80% gains and the sp will be worth pennies..

man,, the more it goes down the more units your making in the crossovers..

keep going, its not bothering me as i am not selling to no one until the big picture is done.. whats happening today or next week wont change the value of the sugarkane.. oil will always be needed and the massive reserves in the sugarkane will pay a dividend, even if one day its more than the sp..

 

[Hatchy]

TCEI have also reported that commercial production commenced at Kennedy-1H at initial rates of 0.2 million standard cubic feet per day and 60 barrels of condensate per day on the 02/10/08 (US CST). This initial Kennedy production comes from a fracture stimulated zone of approximately 600ft in the bottom of the 4,000 ft horizontal section of the well drilled through a lower stratigraphic level to that currently being drilled at Kowalik-1H. To our knowledge this represents the first production from this level within the Sugarkane Field.

Finally we have some good news from Kennedy!!!!!
WOOHOOO!!!

 

[nioka]

your crackin me up nioka..

i bet its you thats sellin and buyin.. somehow you'll end up with 80% gains and the sp will be worth pennies..

man,, the more it goes down the more units your making in the crossovers..

My trading must be helping keep the SP up. I usually take out a seller if I buy. I thought this morning I would take out the 23c seller but another came along and I had to take out another. I went down to the river to check my crab pots and came back to see sales at 20c. Thought I'd go fishing for an hour or so and come back for some price lifting good news.

Results: No crabs, No fish, except for 1 stingray, Good news but not much price action. I guess the groundhog lives on.

The price level itself doesn't help in cross overs unless one changes more than the other.

 

[Agentm]

2/3 the way in,, still a way to go yet!!!!!!!!!!!!!!!!!


4 weeks ago

measured depth 13364 feet

Approximately 1,500 feet of horizontal hole has now been drilled with total gas recorded in the range 300 to 700 units – up from a background of approximately 200 units. Intermittent minor gas flares were present over the last approximately 100 feet of drilling.

3 week ago

measured depth 13835

the well had reached a measured depth of 13,835 feet. Following minor changes in the rig configuration to more accurately measure gas readings, TCEI have advised an increase in background values to 1,000 - 1,300 units. Gas flares have been observed of a more sustained and substantial nature whilst drilling during the last week and a significant flare occurred following a wiper trip.
2 weeks ago


measured depth 14,385 feet

the well had reached a measured depth of 14,385 feet, which equates to approximately 2,500 feet of the planned 6,000 feet of horizontal section within the Austin Chalk.

The well has continued to produce gas whilst drilling, which has led to sustained flaring activity. In addition, when routine operations such as connections reduce the downhole pressure, larger flares have been observed on surface, indicating a response to drawdown**. Elevated gas readings of approximately 1,500 units have been consistently measured during the drilling of this portion of the horizontal section.

1 week ago

measured depth 15239


Since the last report the well has continued to produce gas intermittently while drilling, with larger flares observed following periods of shut in when tripping to change components of the drilling assembly. The surface gas readings have averaged 2,000 units during this section.

More significant gas flares including a 50 foot flare were observed while drilling the horizontal section prior to pulling out of hole.
today

measured depth 16,178

progress for week 939 feet

the well had reached a measured depth of 16,178 ft which
equates to approximately 4,350 ft of horizontal section within the Austin Chalk.

The well has continued to produce gas whilst drilling, with regular intervals producing strong flares with back pressure on the well. The rig has consistently measured gas readings in excess of 2,000 units.

imho the well is consistantly drilling in the chalks formation and the well continue to produce gas whilst drilling.. trying to see where this report is negative, despite the massive pric drop in adi throughout the drilling, i am still convinced the people selling are not understanding that the reports are actually very good and imho you cant judge this well as a dry hole, i know the sellers are thinking it obviously must be and bailing, but i believe the kowalik well may be misinterpreted by the shareholders who are selling this share down every week..

imho the adi share is undervalued and the outlook on kowlik is nothing like what those who are bailing out think..

good luck to those selling and i still believe those buying are perhaps understanding the reports better

"strong flares with back pressure on the well".. does not usually equal a dry hole

 

[solomon]

Your turn now. Looks like I paid too much. Down to buying at 20c. I'm going fishing, when I come back I will hope the news has been released. All I have proved this morning is that "he who hesitates is NOT lost."

I walked away from it after my last post this morning and have only now come back - so I missed those that went at 20c as well.

My reading of todays report was very good. ADI officially announced that Kennedy was on production, and I'm reading the Kowalik news as positive as well.

 

[Agentm]

yes you could say the eagle has landed in kennedy... and be 100% correct.

but its not understood thus far by most punters what the geology is..

right now, if you get adi at these prices, you should be arrested for theft, its a steal alright.. but cash is king right now...

 

[tomcat]

The significance of the Kennedy well shouldnt be overlooked, it shows there is the potential for the reserves to be increased significantly.

Tom Kelly had this to say:

Commenting today, Empyrean Director Tom Kelly said - "This first commercial production
from Kennedy in the middle pay zone is very
exciting as it confirms the middle pay zone as being commercially productive. The middle zone
has the potential to hold greater reserves
than the upper zone. We think there is also vast room for improvement in flow rates from this
zone"

 

[fflintoff]

Empyrean's Kennedy H1 well starts production

Empyrean's Kennedy H1 well starts production

“Oct 8 (Reuters) - Oil and gas explorer Empyrean Energy Plc (EMEL.L: Quote, Profile, Research, Stock Buzz) on Wednesday said its Kennedy 1H well in the Sugarloaf prospect, Texas, had started commercial production.
The company said the well initially produced at 0.2 million standard cubic feet of gas and 60 barrels of condensate a day.
The production will have a significant positive impact on the overall reserves potential of the Sugarkane Gas and Condensate field, the company said.
"This first commercial production from Kennedy in the middle pay zone is very exciting as it confirms the middle pay zone as being commercially productive," Empyrean Director Tom Kelly said. (Reporting by Tresa Sherin Morera in Bangalore; editing by Simon Jessop”

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBNG37578520081008

 

[Agentm]

you can say that again!!

i am kinda partial to a whole zone being commercial, but who would want to invest in a 1 tcf field in zone 1 and potentailly that again in zone 2?

 

[Hatchy]

I can't think of anyone who would want to invest in a company that has a bright looking future.

Un freakin believable.

 

[Lucky_Country]

The market just isnt listening at the momment but one day hopefully soon it will think positive again.
ADI has done extremley well getting production maintaining a low number of shares and fully funding the next 3 wells.
Flow rates from Kowalik will be very very exciting imo and they are doing extremley well drilling the horizontal should reach target depth next week at these rates.
Good Luck to all holders.

 

[solomon]

AgentM I love your new avatar picture, it speaks of confidence, of the future, of a squillion cubic metres of gas and condensate down in those chalks!

 

[nioka]

AgentM I love your new avatar picture, it speaks of confidence, of the future, of a squillion cubic metres of gas and condensate down in those chalks!

I preferred the elephant until it proves that we are in elephant country but a good gas burn is second choice. I think there was an elephant close by today.

 

[solomon]

I have added a few more this morning at 20c, lets hope the seller at 20c is gone for good never to be seen again.

 

[nioka]

I have added a few more this morning at 20c, lets hope the seller at 20c is gone for good never to be seen again.

Good for you. I paid 21c this morning. Sometimes I wonder if I am trying to keep the price up or get a bargain. I'll shoot that bl###y ground hog if I get the chance.

 

[solomon]

Good for you. I paid 21c this morning. Sometimes I wonder if I am trying to keep the price up or get a bargain. I'll shoot that bl###y ground hog if I get the chance.

Well if you are trying to hold the price up it seems to be working for now. As for 21c v. 20c what is 1c going to be when ADI breaks loose of that evil ground hog and sets forth into a new day? Nothing! It is good buying.

 

[Hatchy]

gee there's a high volume today as compared to recent times. What the heck is going on?

I'd like to see a lot lower volumes - probably margin calls, but still

 

[nioka]

gee there's a high volume today as compared to recent times. What the heck is going on?

I'd like to see a lot lower volumes - probably margin calls, but still

Lots of investors sell on news. Some decided the news yesteday wasn't good enough for them. Maybe we are holding up fairly well under the circumstances. I wouldn't really describe it as volume though. Just a little more than normal.

 

[Sunburnt Land]

Lots of investors sell on news. Some decided the news yesteday wasn't good enough for them. Maybe we are holding up fairly well under the circumstances. I wouldn't really describe it as volume though. Just a little more than normal.

It's been fairly rock solid at 20c all day. Looks determined not to duck its head under this mark. A trade at 21.5c just went through as I speak. Maybe the start of some support coming through???

 

[Hatchy]

I just have to wait for my tax return to come through to see how much I owe, then i'll sink a few more cashes into ADI - at this price it's a steal.