ADI - Adelphi Energy

[unixspice]

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

Sorry, where was this supposed letter from the chairman originally posted ?

 

[Agentm]

hotcopper, on the eka thread..


if its genuine then it makes the annual report and the austin chalks a legitimate prospect as seperate project as they have been proclaiming ..

it appears only ADI is preparing for multiple and by the look of it large number well development of the austin chalks...

hosston is a great little money spinner and a nice thought,, but as i have said before,, the secondaries were my interest aloneas they were not wilcat catagory plays...

GDN went to $1.20 on a similar size secondary.. and the austing chalks was a massive high pressure find... gas and oil... the austin chalks have been wirelined, and only need flow testing.. GDN has not wirelined theirs yet!!

just a thought!!

 

[Broadside]

sandybeaches whilst being grumpy from time to time doesn't strike me as a poster who would make such a thing up, generally on the bearish / sceptical side so I don't doubt the authenticitity, for what it's worth....and sandy knows oilers

 

[Agentm]

for what its worth from my end,,

it fits in with everything i have seen, heard, read and spoken to about..

there is plenty about thats in the forum and plenty thats out in the private realm... and i wouldnt be telling anyone i knew to be selling adi in the near term, and definately wait until the well is fully flow tested,, you may be in for a big shock on the size of the find,, and i maintain its oil and gas in the austin chalks and gas only in the sligo.

sugarloaf is imo a fully successful well, and many many wells to come on the austin chalks..

dyor on this as its a bit of a sleeper still,

 

[tarzanhey]

for what its worth from my end,,

it fits in with everything i have seen, heard, read and spoken to about..

there is plenty about thats in the forum and plenty thats out in the private realm... and i wouldnt be telling anyone i knew to be selling adi in the near term, and definately wait until the well is fully flow tested,, you may be in for a big shock on the size of the find,, and i maintain its oil and gas in the austin chalks and gas only in the sligo.

sugarloaf is imo a fully successful well, and many many wells to come on the austin chalks..

dyor on this as its a bit of a sleeper still,

You guys seem to be putting on some nice increases today so far, 64 now.

GOOD LUCK ALL FOR A BRILLIANT WEEK!

 

[unixspice]

So I'm still a little confused by this supposed letter from Alex. Steve whoever he is just thought he'd ask old Alex what was happening at sugarloaf and he replied with information that hasn't been disclosed elsewhere (except perhaps on couchoil) that I'm aware of....

Huh ?

 

[Agentm]

i cant see anything confusing in the email. i was only interested in the secondaries on sugarloaf so i thought the post was worth mentioning..

i thought adi had hinted on 2 sugarloaf wells 2007. adn proclaimed a possible seperate project on the austin chalks alone... couchy said 100, and never to be heard from again..
i hear things like 15 at a minimum.. so it seems the figure is correct if you take the view that a significant number of wells to mean that..

its interesting to see the reply,, sounds very alex to me..

the bit i was stggered to hear the news on new tiaton,, i heard there were delays from heavy rain and the start time was nov.. not end of year..

the austin chalks have been wirelined, and later will be flow tested.
looking good for investors i think.. cant comment on what day traders can do with the information..

 

[Agentm]

i know i have posted this before, but i still believe that only gas shows are reported on the weekly reports,, only one report has been listed out of the usual timeframe, that was a friday wireline log result.. and as a report it was scant with information..

I think that hosston is now being drilled. I also think this weeks report will be the first one for the sugarloaf primary.

I cant imagine they will be running wirelines until TD. so my pick is for a wednesday report, stating depth and gas shows, and thats it.

Gas shows as such are not entirely market sensitive, but i think they may see a massive spike in the price if, as expected, there is gas shows.

18/8
23/8
30/8
6/9
13/9
20/9
27/9
29/9 wireline
4/10
11/10
18/10
25/10
1/11
8/11

my bets on wednesday and my pick is gas shows.. imo dyor

 

[Broadside]

Agent M if my memory serves me correctly the special 29 September release was when the Couch Oil info got into the market and there was a bit of a run, I think the announcement at that time was designed to stop the speculation in its tracks...I could be wrong a lot has happened since then

 

[Agentm]

yep.. your right i think.. it was designed to prevent the disaster that GDN is in with a share price in the stratosphere and many millions in the pool at very very high buy in prices,, yet nothing significant in the primary todate.. i hope those buying in on the ride were also happy to see this plunge as each day they release report after report yet the price is straining.. i noticed some selling by the directors also in recent days there on GDN.. you could find easier ways to lose that sort of value in a company,, and i am yet to be impressed by the way that company is run..

i always view a sell like that to be very much like the CDU one.. once a directors puts self interest over the company then i would never invest..

good luck if you on the cup.. activation is my pick..

 

[fflintoff]

Agent M if my memory serves me correctly the special 29 September release was when the Couch Oil info got into the market and there was a bit of a run, I think the announcement at that time was designed to stop the speculation in its tracks...I could be wrong a lot has happened since then

-----------------------------
Nothing to do with Couch. On Wed 27 Sep they stated that a further announcement would be made on the interpretation of the wire line logs which duly arrived 48 hours later & caused the trading halt.
If they have shows at the Primary they will not wait for every Wednesday. They are already tip toeing on eggshells.

 

[Lucky_Country]

So they have been drilling the Hosston for almost a week and have had no gas shows is that what you are saying ?

 

[Broadside]

-----------------------------
Nothing to do with Couch. On Wed 27 Sep they stated that a further announcement would be made on the interpretation of the wire line logs which duly arrived 48 hours later & caused the trading halt.
If they have shows at the Primary they will not wait for every Wednesday. They are already tip toeing on eggshells.

fair nuff Freddie it may have been coincidence, I think it was at same time Couch spilled the beans however. I believe they should announce to market immediately if they encounter gas in Hosston but I think others may have a different view and that it would just be contained in the weekly update. I think a gas show would need to be revealed asap to keep the market fully informed, continuous disclosure etc.

 

[fflintoff]

fair nuff Freddie it may have been coincidence, I think it was at same time Couch spilled the beans however. I believe they should announce to market immediately if they encounter gas in Hosston but I think others may have a different view and that it would just be contained in the weekly update. I think a gas show would need to be revealed asap to keep the market fully informed, continuous disclosure etc.

---------------------------------------------------
Broady,
You are correct. It was a coincidence. Couch update was published 12 hours after the aussie updates to the market on Fri Sep 29.
Fully agree with your statement that any gas shows at the Hosston primary are deemed to be price sensitive & must be disclosed pdq & not just on Wednesday.

 

[Agentm]

i dont dissagree that the news of a gas show is price sensitive news, but in the secondaries they had shows, and wirelined without announcing anything, if the crew at sugarloaf are that watertight, then they can quietly go about their job, not hyperinflate the share price like GDN and have a great level price thats stable and able to reflect the true value of their position..

no director at adi wants to see 80% of the share pool traded in 3 days over a hyped up gas show.. even though its price sensitive, my view is that nothing will change and all announcements will come in the weekly reports, and the well wirelined and prodution tested after TD.

a gas show does not mean succes, and these guys know it, so they will in my view, not want the market to overreact, so its not going to happen until wednesday in my book

 

[eckart]

Agentm hope tip on SL is better then your MC tip.
Doesn't matter anyway. Bought at .32 sold 40% at .62 so I am on a winner already. Thanks for your info though.

 

[Lucky_Country]

Well all is quiet today hope no - ones getting too nervous and sell out we will take aour profits together guys !
Hopefully tommorrows weekly update will let us in on how things are going and hopefully a mention of gas would really be a great confidence boost for the Hosston.
Personally I feel we have nothing too worry about as the upper zones are the bedrock of the sp and Hosston will be the icing on the cake
See you tommorrow guys

 

[Agentm]

if they did manage to drill away last week then we find out tomorrow, last week they had managed to change a drill bit, and that took a week.


tomorrow i expect the report to be as they were on all previous occasssions, very tight on info and no hype.

melbourne cup was a great race, those japanese horses are brilliant, and that kid rode himself into $500,000 , oliver got $300,000 for second.. based on the usual MC 10% formula..

plenty will sell tomorrow i think as they are on a different agenda.. and some will buy in, and i am guessing the buyers will be smiling.. its a great value share for those accumulating still..

 

[Lucky_Country]

Well thought that they had drilled some last week just 150m tho but that sould equate into an interesting update tommorrow no more hold ups hopefully

 

[maverick11]

anyone know why the price dropped? Looks like it will come up again though. Insiders in the know about a possible poor announcement today?? Very weird