ADI - Adelphi Energy

Lucky_Country · 3 April 2009

I see AOE today paid $400 million for BPT's CSM project in QLD, now these figures amaze me for CSM projects but also get me thinking what is someone willing to pay for ADI's acerage in Texas.

Its a proven oil and gas play in the worlds thirstiest energy country surrounded by Conoco drilling furiously for the oil and gas.

ADI must be ranked as very very cheap just needs a bit of a push to get the sp going.

resourceboom · 3 April 2009

Mate theres still plenty of potential for adi's tenements, but until they can prove they've cracked the kane, the mkt will attribute almost no value to the project.....

Lucky_Country said:
I see AOE today paid $400 million for BPT's CSM project in QLD, now these figures amaze me for CSM projects but also get me thinking what is someone willing to pay for ADI's acerage in Texas.

Its a proven oil and gas play in the worlds thirstiest energy country surrounded by Conoco drilling furiously for the oil and gas.

ADI must be ranked as very very cheap just needs a bit of a push to get the sp going.

buzzbuzz100 · 4 April 2009

Very worrying now one of the JV’s price has plummeted to new depths. In sterling EME was 160p and now it is just 3.25p. That is a 98% drop in the value of the share price. All we seem to get is EME confetti share placements. RNS news has stopped.

Today yet another 6% was taken from the share price. Considering all the graphs, charts, pictures and hype, is it not time someone asked if we are being told JV fairy tales.

Agentm · 15 April 2009

resourceboom said:
Mate theres still plenty of potential for adi's tenements, but until they can prove they've cracked the kane, the mkt will attribute almost no value to the project.....

hey resource

certainly right about the adi share not being given any value for their acreages and production from the sugarkane.

its not like operations on the TCEI/conocophillips jvp on the 300,000 + acreages is standing still. a lateral in bordovski is being drilled right now, which is a few miles east of our acreages. and another well in live oak next to the baker wells is being drilled by conocophillips. eskew west 1h

2 completed wells sit behind casing and cement, that being kennedy and weston. Kowalik is open hole and damaged and on production and will be attended with further completions and workover.. so adi is a producer of sorts..

there are many conoco wells on production currently. and its a waiting game for our jvp at the moment. all three wells need to be stimulated and tested further..

noco · 16 April 2009

Agent M , ADI stocks hit an all time low today.
How much more pain do you think shareholders will suffer?
Are the JVP waiting for the price of oil to rise above $60?

Agentm · 17 April 2009

those are questions best asked to the directors.

my view is that the next month will see some activity..

in the uk the eme share rose 24% last night off 7.6 million shares

something is obviously happening..

Lucky_Country · 17 April 2009

I would rather have a low shareprice in these uncertain times than a company in administration.

The directors have achieved great results in the saleof Yemen and raising capital for futher activities in SL. In the process stabalising the companies future.

Timing is everything no point spending cash if results dont achieve a profit with a low oil price and what were high drilling costs.

The shareprice is a concern for existing holders but a great entry for new investors.

buzzbuzz100 · 17 April 2009

EME increased by 24% or 0.8p. Peanuts. EME has lost 98% of its value in the past few months. A 24% increase is pityful when holders have seen such a massive loss in their investment. Another 18,000% increase and we might recover our losses.

.

Agentm · 17 April 2009

Lucky_Country said:
I would rather have a low shareprice in these uncertain times than a company in administration.

The directors have achieved great results in the saleof Yemen and raising capital for futher activities in SL. In the process stabalising the companies future.

Timing is everything no point spending cash if results dont achieve a profit with a low oil price and what were high drilling costs.

The shareprice is a concern for existing holders but a great entry for new investors.

the share is lower than cash value right now. and as stated, at an all time low.

the kowalik well is producing some small revenue for adi, and will achieve higher rates after it is properly worked and tested. the other two wells have not been tested. $50 - $60 oil makes shale viable. and i agree that TCEI is waiting for the results on their wells with conoco in live oak and elsewhere before opening up their well they have with us.. makes sense to me, Conoco have superior departments than this small jvp have, i cant imagine TCEI wanting to crack open its wells until some good understandings are concluded from the many laterals currently being tested and about to be tested by TCEI/conoco.. imho the jvp are in total agreement on that..

i think adi had every intention of farming out according to their last presentation. and i noticed that none of the jvp partners are announcing anything on the play at all. so their intention to wait and see how the regional wells play out with their completions is obviously still the plan.

plenty of good turnover with the jvp partner eme last night which indicates some value is being seen there, a 24% increase in the share price and plenty of shares traded. i hope we see some increases one day with adi, there was a lot of selling yesterday, and equally there was plenty of cash there from the buyers who i think did well out of it.

estseon · 19 April 2009

Re EME, maybe the market overhang is cleared and investors are remembering that the directors waived 30% of their remuneration for shares issued at 3p. The recovery in the oil price may be helping sentiment and there could be bargain hunters sniffing around. There was also a rumour going around about a potential bid but no explanation of why a predator might want EME's bits and pieces. Some other poster even suggested hedge funds - the whole MKT CAP is less than the income tax payable by some hedge fund managers on their annual bonuses, so I don't buy that one either. The only form of take-out that makes any sense to me would be COP buying in TCEI's interest in the Live Oak acreage. TCEI would then have to settle with EME and EME might then talk to the other JVPs about buying in a few % in the AMI.

Buzz: https://www.aussiestockforums.com/forums/images/smilies/banghead.gif

Hatchy · 20 April 2009

Here's a little bit of news on one of ADI's mates:

Aurora Oil & Gas Corporation has given formal notice to NYSE Amex, LLC (the 'Exchange') of the Company's intention to voluntarily delist its common stock from the NYSE Alternext ('Alternext') market.
On April 9, 2009, the Company received a letter from the Exchange, which stated the following:
"The staff of the Exchange's Corporate Compliance Department (the "Staff") has determined based upon its review of publicly available information that Aurora Oil & Gas Corporation (the "Company" or "Aurora") does not meet certain of the Exchange's continued listing standards as set forth in Part 10 of the NYSE Amex Company Guide (the "Company Guide"; accessible at www.nyse.com/regulation), and the Company has therefore become subject to the procedures and requirements of Section 1009 of the Company Guide. Specifically, the Company is not in compliance with Section 1003(a)(iv) of the Company Guide in that it has sustained losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, as to whether the Company will be able to continue operations and/or meet its obligations as they mature."
These factors, together with the Company's internal objectives to pursue cost savings measures, have led Aurora's Board of Directors to pursue voluntary delisting from the Alternext and not take any action to maintain its Exchange listing. The Company will take appropriate actions for its common stock to be quoted on the OTC Bulletin Board.
Aurora anticipates that it will provide notification (Form 25) to the Securities and Exchange Commission on or around April 27, 2009. The Company further anticipates that the last day of trading of its common stock on the NYSE Alternext will be on or around May 6, 2009.

martyfar · 20 April 2009

Hatchy said:
Here's a little bit of news on one of ADI's mates:

Aurora Oil & Gas Corporation has given formal notice to NYSE Amex, LLC (the 'Exchange') of the Company's intention to voluntarily delist its common stock from the NYSE Alternext ('Alternext') market.
On April 9, 2009, the Company received a letter from the Exchange, which stated the following:
"The staff of the Exchange's Corporate Compliance Department (the "Staff") has determined based upon its review of publicly available information that Aurora Oil & Gas Corporation (the "Company" or "Aurora") does not meet certain of the Exchange's continued listing standards as set forth in Part 10 of the NYSE Amex Company Guide (the "Company Guide"; accessible at www.nyse.com/regulation), and the Company has therefore become subject to the procedures and requirements of Section 1009 of the Company Guide. Specifically, the Company is not in compliance with Section 1003(a)(iv) of the Company Guide in that it has sustained losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, as to whether the Company will be able to continue operations and/or meet its obligations as they mature."
These factors, together with the Company's internal objectives to pursue cost savings measures, have led Aurora's Board of Directors to pursue voluntary delisting from the Alternext and not take any action to maintain its Exchange listing. The Company will take appropriate actions for its common stock to be quoted on the OTC Bulletin Board.
Aurora anticipates that it will provide notification (Form 25) to the Securities and Exchange Commission on or around April 27, 2009. The Company further anticipates that the last day of trading of its common stock on the NYSE Alternext will be on or around May 6, 2009.

Hey Hatchy.... I read with interest you post re. AUT, ... what do you see as the implications / meaning of this move in relation to AUT's continued viability in the Sugarloaf developement ?

Agentm · 20 April 2009

martyfar said:
Hey Hatchy.... I read with interest you post re. AUT, ... what do you see as the implications / meaning of this move in relation to AUT's continued viability in the Sugarloaf developement ?

i would first be checking the details a little closer.

my view is that its the wrong company and never had a partnership with adi..

Aurora Oil & Gas Corporation Announces Year-End 2008 Results

TRAVERSE CITY, MICHIGAN, March 13, 2009 – Aurora Oil & Gas Corporation (NYSE Alternext US: AOG) today reported a net loss of $107.4 million for the year ended December 31, 2008, largely related to one-time non-cash items.

William W. Deneau, Chairman and Chief Executive Officer, commented, "This has been a challenging year for our business and the economy at large. When we entered 2008, we anticipated a favorable conclusion to our strategic alternatives process. Instead, the year presented a strong headwind of limited capital resources, global credit challenges, and weakening energy markets. I believe 2009 will present more of the same. Fortunately, our team has been working to 'batten down the hatches' since the beginning of 2008 and we will continue working diligently to weather this storm."

http://www.auroraogc.com/News_and_Events.htm

AUT, the partner in the sugarkane is not listed on any other exchange, only eme from the UK is liked on the AIM in london.

Hatchy · 20 April 2009

martyfar said:
Hey Hatchy.... I read with interest you post re. AUT, ... what do you see as the implications / meaning of this move in relation to AUT's continued viability in the Sugarloaf developement ?

Sorry Martyfar - my mistake, as AgentM pointed out there's two Aurora Oil and Gas's

1 - Aurora Oil and Gas Corp.
2 - Aurora Oil and Gas Limtd. (aussies)

Apologies to all.

Agentm · 21 April 2009

pioneer and swift both did presentations yesterday. swift spoke about the eagleford and is planning a well in the near future. pioneer continues to go forward on their R&D on the eagleford.. testing the well in dewitt county this month.

conocophillips continues to drill the bordovsky well in our county (karnes) near by and the live oak wells are ready for testing and they are drilling the eskew west 1h

Agentm · 22 April 2009

this from petrohawk..

http://www.petrohawk.com/news/?id=1278493

Eagle Ford Shale

In South Texas, Petrohawk has leased approximately 160,000 contiguous net acres prospective for the Eagle Ford Shale in LaSalle and McMullen counties. This area has been recognized by the Texas Railroad Commission as "Hawkville Field." During the first quarter, Petrohawk operated one horizontal rig in the play and recently added a second rig. Three wells were drilled and two were completed during the quarter. The Donnell #1H was completed on February 20th at a rate of 3.6 Mmcf/d and 395 barrels of condensate per day (Bc/d), or 6.1 Mmcfe/d, on a 19/64" choke with 3585# flowing casing pressure. The Brown Trust #1H was completed on March 26th at a rate of 8.1 Mmcf/d and 200 Bc/d (9.3 Mmcfe/d) on a 24/64" choke with 4210# flowing casing pressure. Production data from the four wells completed to date indicates lower initial annual decline rates, and a flatter hyperbolic decline, than those observed in other shale plays.

Petrohawk is encouraged by analysis of core samples from two of the wells drilled to date. The Company recognizes a trend across the field from southwest to northeast of increasing condensate yield, from no condensate production from the Dora Martin #1H to a yield of approximately 110 barrels per million cubic feet of gas from the Donnell #1H, with a distance of approximately 30 miles between the two wells. The Eagle Ford Shale has been encountered in all five wells from between approximately 11,000' and 11,700' true vertical depth.

Other encouraging aspects of the core analysis of these two wells include the following: average total organic content (TOC) between 4.4% and 4.7%; total porosity ranges between 9.4% and 10.7% average permeability ranges between 1,110 and 1,280 nanodarcies; gas saturation ranges between 83% and 85%; and estimated free gas in place per section between 180 and 210 Bcf.
These measurements, as they relate to other shale plays, suggest that the Eagle Ford Shale in this particular area is one of the highest quality shale reservoirs discovered to date in the United States.

Based on gas in place data derived from the core analysis, along with the performance of wells completed to date, Petrohawk is raising its internally estimated ultimate recovery assumption for wells in this play to a midpoint of 5.5 Bcfe per well, with a range of 4 to 7 Bcfe/well.

Drilling efficiencies already achieved in the play highlight the economic potential of the Eagle Ford Shale, relative even to other efficient properties in the Company's portfolio, such as the Haynesville Shale. Drilling and completion costs have been reduced by approximately 60% from the first well drilled to the most recent well completed. The first three wells drilled in the play, which were all drilled with pilot holes, whole cores and intermediate casing set, averaged 53 days from spud to rig release. The fourth well, which did not have a pilot hole drilled but did set intermediate casing, was drilled to total depth in 32 days. The fifth well, which also did not require a pilot hole but did not have intermediate casing set, was drilled to total depth in 22 days. An improvement in well design has eliminated the need for intermediate casing going forward. Average drilling and completion costs for Eagle Ford Shale wells in Hawkville Field are currently ranging from $4.5 million to $5.5 million.

Agentm · 22 April 2009

the petrohawk presentation reveals a lot of information that our jvp partnership have not been so forthcoming with, well logs are very good indicators of whats in the rock. and the work they have done on these 4 wells they have drilled and the two they are currently drilling really puts the eagleford into a good light, particularly in our region, it seems to be improving when they compare it to their wells further west. they include arrows indicating which direction they see the eagleford improving, and when you compare the results of the conoco wells, its clear that they are drawing conclusion based on results not assumptions.. the condensate gets better where we are..

these slides are extremely interesting..

blues · 22 April 2009

Petrohawk seem to be having good success and makes our play look better. I know a few of the JVP's are looking at farming out some of their interest, good idea to get Petrohawk involved as they are having more success than we are!

Broadside · 22 April 2009

blues said:
Petrohawk seem to be having good success and makes our play look better. I know a few of the JVP's are looking at farming out some of their interest, good idea to get Petrohawk involved as they are having more success than we are!

they should look at that, better that than Conoco letting them bleed dry before taking over the acreage....if there is something of value there why not get on the front foot and have a competitive situation not a fire sale.

Agentm · 22 April 2009

blues said:
Petrohawk seem to be having good success and makes our play look better. I know a few of the JVP's are looking at farming out some of their interest, good idea to get Petrohawk involved as they are having more success than we are!

blues..

in lasalle county, further west..

Browns trust 8.1mmcfpd and 395 BOPD
STS 1H 7.6mmcfpd and 250 BOPD

in mcmullen county, closer to us and to east of the lasalle wells

Donna Minerals 1H 3.8 mmcfpd and 395 BOPD

practically half the gas but the same oil...

when you get to live oak and karnes its 250 BOPD per 1mmcfpd

you would think that one day the penny will drop,, adi sit on very good acreages..

broadside, the TCEi were done over mnay years, and often come up for renewal.. conocophillips have thus far never approached the landowners that have leased to TCEI.. i see lots of renewals on leases in our acreages and none have gone to conocophillips, all have remained in the hands of our jvp.. and vise versa, the land owners holding out in the region that are in the region of the conoco acreages in live oak are not being approached by TCEI..
i cant find any evidence of what you saying, and i assure you i check all the time.. have you got any references to guide me where you are seeing this happen? TIA..

ADI - Adelphi Energy

Lucky_Country

Formerly known as ijh

resourceboom

buzzbuzz100

Agentm

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noco

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Hatchy

martyfar

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Agentm

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blues

Broadside

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