ADI - Adelphi Energy

[Agentm]

confirmation of the kennedy being in the eagleford

confirmation the baker 2 well is about to go on production

confirmation that kunde 3 is being fracced at the moment

interesting that they operator TCEI required the jvp to wait for all that time (practically a year), for kunde 3, which is a chalks well to be fracture stimulated, before fracture stimulating the eagleford in kennedy 1h. now to my way of thinking isnt it fair to say the two formations would be fracture stimulated by completely different methods and processes?

so how is this possible???? you cant tell me that TCEi did not know the frac of sugarloaf 1 was in the eagleford ?



adi presentation January 2008

http://www.adelphienergy.com.au/files/asx/ASX Release 21 January 2008 Corporate Presentation.pdf

Sugarloaf
Vertical

• Fracture stimulated and
tested bottom chalk zone
• Flowed max 387mcgfd +
50bbls condensate then
water
• Water is from an
underlying formation
penetrated by the
induced fractures
• No further tests planned
until after Kennedy tested

Kennedy
Horizontal

• Drilled in upper Chalk
interval with liner
cemented in place
• Detailed frac and test
design underway
• Timing of test as soon as
practical subject to
finalisation of frac design
and availability of
equipment
• Valuable information to
be learned from
application of different
frac and completion
techniques in adjacent
wells


eme release last night on kennedy 1h

On 31 August 2008 it was announced that Kennedy 1H was being shut- in while production and tie-in facilities were completed for eventual
connection with the nearby transmission line. Production recommenced on the 2 October 2008 at a rate of 200 thousand cubic feet of gas per
day and 60 barrels condensate per day.

This is the first time production has originated from the "Middle" pay zone, (eagleford) and therefore augurs well for recoverable reserve considerations. A decision whether or not to perforate and fracture stimulate the remaining 3,000ft of horizontal section will be made following the analysis of production performance.

the chairman of eme says this in the release

We are mindful of shareholders needing to rely upon accurate information for their Company and urge shareholders to only rely upon Company endorsed information either via announcements or reliable published research.

ok...

so without apology the operators are now actually declaring the truth on kennedy being in the eagleford, and yet failing to elaborate on sugarloaf 1 which was not testing the austin chalks at all.

when i look at completion reports and it says 12500 feet in kennedy and i am told to believe its in the upper chalks!! do they think i am unable to read a completion report??

the chalks are at 11900 feet in sugarloaf 1 and the kenendy well was never in it..

why they decided to ignore the chalks completely, and change strategies and go for the eagleford without even knowing how to frac that region and without telling any of the shareholders is a question very much unanswered.

as far as i am concerned, if the jvp are going to continue to change operational stategies and not inform the shareholders for 12 months, then its going to be tough to convince prospective investors into the future operations of sugarkane play (all three zones)

i participated in capital raising and put money down for operations that in hingsight had zip to do with the austin chalks. and i kinda feel duped here..

if the focus is the eagleford then make it the focus, but imho so far the only capital actually invested into the austin chalks so far in block b is one well kowalik, and all other operations in sugarloaf 1 and kennedy have been in the eagleford whilst maintaining steadfastly the ops were in the chalks!!

we are so far being told the weston well is to test the upper chalks zone..

this is absolutely confusing, how can i be sure its the case??

 

[speculator101]

Hey Agentm and all contributors.
Cheers as always for the info.
Like you and many ADI shareholders, I was in for the capital raising...
These are prob fairly hard (wishful) questions but I doubt I will get any from ADI!
Where do you see ADI in 6 months time?
Do you foresee another capital raising?
Trading volume has continued to basically be zip.
When will actual production rates be announced, as in that ADI is actually making some cash?
Cheers.

IMHO.

 

[estseon]

"we are so far being told the weston well is to test the upper chalks zone..

this is absolutely confusing, how can i be sure its the case??"

Impossible to say from the reported well depths. They're drilling off the vertical and don't disclose vertical depth. Perhaps there will be more information from EKA in relation to their capital raising.

Have a look at the pictures on this web page:

http://courses.unt.edu/hwilliams/GEOL_1610/fieldtripsites/eagle_ford_shale.htm

How can anyone confuse chalk with shale?

 

[maverick11]

Agentm, sometimes i am unsure if our management even know what is going on!! All along we have been fed vague and misleading info and investors have lost faith.

When the timing is right, IMHO i think the best option is bail out of texas and move on to yemen.

 

[mick z]

maverick, i have always wondered which one of the jvp's actually writes the announcements, something that makes me laugh is the fact the announcement from Texas always comes in at 6.00am .


if TEXAS CRUDE is the writer of announcements then we all have been deceived, if the jvp's are the writer then they have alot of explaining to do.

hmmmm

 

[Agentm]

12-15-2008
ConocoPhillips to Announce its Capital Spending Plans in Early 2009


HOUSTON, Dec. 15, 2008 - ConocoPhillips [NYSE:COP] today announced it will communicate its 2009 capital spending plans in January. The company continues to evaluate its capital and operating plans in light of the significant uncertainties associated with the outlook for crude oil, natural gas, and refined product prices, as well as the effects on service and other costs related to the integrated oil sector.

ConocoPhillips is an international, integrated energy company with interests around the world. For more information, go to www.conocophillips.com.

 

[Agentm]

the EKA announcement show where the next operations will happen

its focus is on kowalik.. which is very much in need of further clean up works to allow the well to perform at a far superior flow rate.


The proceeds from the capital raisings will primarily be used to meet operating costs at the Sugarloaf project in Texas. Having pre-paid drilling costs for the Kowalik – 1H well and the current Weston – 1H well, Eureka seeks additional working capital to contribute to the planned and possible completion operations for each of these wells.

Kowalik - 1H has recently undergone clean-up operations and is now tied into the sales pipeline system. Over the next few weeks this well will undergo planned completion operations to maximize the flow of hydrocarbons.

Weston - 1H has been drilled to a measured depth of 13,013 feet and is being cased to this depth prior to continuing drilling the horizontal section in the Austin Chalk horizon for up to a further 6000 feet. Completion operations on this well will be undertaken at the conclusion of drilling the lateral length.

Following completion of operations at the Kowalik – 1H and Weston – 1H wells at Sugarloaf, Eureka with the Operator intend to review and consider the results together with results from other wells being drilled on adjacent acreage within the Sugakane Gas & Condensate Field ahead of undertaking further operations.

so why does weston need completion operations when the well was paid for in advance? and what are the completion ops? i thought the well was open hole and designed to be completed in the chalks???????

 

[Lucky_Country]

Sounds like they still have work to do on Kowalik must be a good sign that they can increase flow rates.

Just been wondering about what ADI will be doing in regards to capital raising or farm out etc.

Maybe that uncertainty is holding the shareprice down in its lows.

 

[Agentm]

Sounds like they still have work to do on Kowalik must be a good sign that they can increase flow rates.

Just been wondering about what ADI will be doing in regards to capital raising or farm out etc.

Maybe that uncertainty is holding the shareprice down in its lows.

last announcement they had 2 mill in the bank and potential to get 1 mill from indonesia.

i guess the speculation you bring will contribute to the negative sentiment.

 

[Lucky_Country]

last announcement they had 2 mill in the bank and potential to get 1 mill from indonesia.

i guess the speculation you bring will contribute to the negative sentiment.

I would say Im entitled to speculate on this forum afterall an investment in ADI is pure speculation until we have proven the size of the field in ADIs acerage.

Just like your speculation on the size of the field you are purfectly entitled to do and have done on many occasion.

Not sure anyone really knows how big this field is even the company drilling it but speculation on the size is quite big even up to $2.55 per share according to management of ADI with their speculative figure.

Time will tell and as Ive stated before Im holding until some proven news on what they have in the acerage is released.

 

[gdaf]

kowalik 'extra' cleanup operations over the next few weeks. Ok - what exactly does this entail? - is EKA's funding required for this? Are we talking about fraccing/acid wash/ etc. ? Need more detail here. This could well be the kick in the a"se that we're after. Big news IMO.

 

[Agentm]

Lucky_Country, your entitled to "speculate" as you call it, and i am entitled to comment on it, its a forum after all.

gdaf, the most likely candidate for kowalik would be an acid job with a coiled tubing unit. imho the gas flares indicated good connectivity, and something went horribly wrong with kowalik obviously, nothing makes sense with the current flow rates. even baker 1 & 2 have similar completion lengths in the chalks (if we are to believe the announcements) and there is no reason to believe the kowalik well shouldnt perform at the similar rates those wells have thus far.

what i would love to know is why weston needs further completion work already when it has not drilled the lateral yet?? wtf is that about?

 

[mick z]

what i would love to know is why weston needs further completion work already when it has not drilled the lateral yet?? wtf is that about?

where does it say completion work now ? agentm
your not reading it right.

 

[Agentm]

mick i dont think your following what i am asking?

how can you predict there are to be more completion works to be done on weston? my understanding is that the wells were designed to be open hole then hook them up ontoi the sales pipeline.. a chalks well needs no further completion works after its drilled. unlike a eagleford well or an edwards well, where you put a production liner in there then bring in specialist frac crews and machinery and start a very expensive completion in that way.

what i am trying to understand is what has changed from kowalik, was it not the case that the chalks wells were to go directly onto sales when the wells have finished drilling?

EKA are specific here...

Completion operations on this well will be undertaken at the conclusion of drilling the lateral length.


sounds to me like the TCEI jvp have further completion processes in mind on weston when its finished drilling regardless..

 

[Agentm]

but looking at the share purchase plan that eka released after close of trade the wording is now "possible"

"The proceeds from the SPP will primarily be used to meet operating costs at the Sugarloaf project in Texas. Having pre-paid drilling costs for the Kowalik – 1H well and the current Weston – 1H well, Eureka seeks additional working capital to contribute to the planned and possible completion operations for each of these wells."


i assume planned is the kowalik and possible is weston

all imho and dyor

 

[Lucky_Country]

Well bit disappointe at todays announcement eems like things are not going according to plan with th drilling.

It seems a long drawn out process trying to crack the Austin Chalks and get the production that they think it is capable of.

Im sure the jvp will reap the rewards but we are going have to be very patient it seems.

Well Im hoping that ADI can deliver the goods in a timely fashoin and would be disappointed if things are not sorted out in a reasonable timeframe.

 

[prawn_86]

Well Im hoping that ADI can deliver the goods in a timely fashoin and would be disappointed if things are not sorted out in a reasonable timeframe.

What would you call a timely fashion?

Originally 2007 was going to be ADIs year, then 2008, now 2008 is virtually over i guess 2009 must be it...

Serisously though, i personally think things have goit even more complicated and confusing now some forms of drilling have started. Wasn't the drilling supposed to clear things up?

As they say, if you dont understand it, dont invest in it, and i personally have no clue what is going on in ADI land

 

[barney]

What would you call a timely fashion?

Originally 2007 was going to be ADIs year, then 2008, now 2008 is virtually over i guess 2009 must be it...

Serisously though, i personally think things have goit even more complicated and confusing now some forms of drilling have started. Wasn't the drilling supposed to clear things up?

As they say, if you dont understand it, dont invest in it, and i personally have no clue what is going on in ADI land

Well I'm a long time holder of ADI, and I've got to agree Prawn .... I am really disappointed with the whole scenario

TCE have led us up the garden path in many ways I reckon

I firmly believe that if ADI can stay afloat, it will be a lucrative venture in the future, but I have considered the cash I have involved "written off" for some time ............. I actually forsee leaving the shares to my children in the hope that they will benefit after I'm long gone ( I'm happy with that)

I had a story to tell re my ADI investment, which is still valid, but maybe it wont get told on ASF ....... such is life ......

 

[mick z]

Well I'm a long time holder of ADI, and I've got to agree Prawn .... I am really disappointed with the whole scenario

TCE have led us up the garden path in many ways I reckon

I firmly believe that if ADI can stay afloat, it will be a lucrative venture in the future, but I have considered the cash I have involved "written off" for some time ............. I actually forsee leaving the shares to my children in the hope that they will benefit after I'm long gone ( I'm happy with that)

I had a story to tell re my ADI investment, which is still valid, but maybe it wont get told on ASF ....... such is life ......

that's right BARNEY i remember now you were going to tell us a story when it got to $2.00.

come on mate we need a good story at the moment, lets have it.

 

[barney]

that's right BARNEY i remember now you were going to tell us a story when it got to $2.00.

come on mate we need a good story at the moment, lets have it.

Seriously Mick, You have no idea how much I would love to tell that story ...

And to be honest, I still believe the story is true .... but I'm a gullible bastard lol .....

But I am silenced until it hits 2 bucks + cause the story has no credibility till then

I may well be in a box 6 feet under by that time .... lol, but I will instruct my "decendants" to tell the story ...............

Lets hope I get to tell it before that happens.