ADI - Adelphi Energy

[conman]

Hi Agentm, havnt heard anything but someone is snapping them up. GDN in freefall so maybe money switching over?

I would expect a trading halt in tne next 24-36hrs.

I predict the drilling will have just interupted the shallower houston target in the last couple of hours.

Or of course they could try keep it quite till TD. Not likely though looking at todays chart.

Cheers Conman

 

[maverick11]

We have a pre-NR folks, trading suspended at the moment while news gets posted. I suspect they are in the sprimary - not necessarilly a gas pay just yet though.

EKA, AUT all up, except ADI.

 

[HOMER J]

usually when announcements take this long it ends up a trading halt. cant help being a little excited!

 

[kevro]

Opened up again without an ann and some one who positioned for the ann endedup buying 50k at .57c

 

[Agentm]

i say ARQ is the only way in to sugarloaf now... they hold 25% or so of adi!!

 

[HOMER J]

i dont get it?!? seems ADI and EKA are trading again with no announcement?? AUT still waiting...

 

[Agentm]

so why havent the volumes moved?

 

[HOMER J]

so why havent the volumes moved?

they actually did move. ADI traded at 11.01 and EKAO just before. i think the ASX stuffed up!

 

[HOMER J]

ASX RELEASE
09 November 2006
Eureka Energy Limited (ASX:EKA, “Eureka” or “Company”)
SUGARLOAF-1 GAS INDICATIONS
Eureka Energy Limited advises that at 6am Texas time on 8 November, the Sugarloaf-1 exploration well was drilling ahead at 18,361 feet (5,597 metres).
Two gas shows over an aggregate of 79 feet (24 metres) were obtained while drilling sediments, probably of Cretaceous age, between 18,192 feet and 18,315 feet. Total gas readings peaked at 295 units from a background of about 30 units, and chromatography indicates the gas consists dominantly of methane (C1), with ethane (C2), propane (C3) and trace butane (C4).
The economic significance of these gas indications will not be known until wire-line logs, programmed to be run after the well has reached total depth, have been interpreted and flow testing, if warranted, has been evaluated.
Drilling is continuing towards proposed total depth of 21,000 feet (6,400 metres).
Participants in the Sugarloaf-1 well are:
Eureka Energy Ltd 1
12.5%
Texas Crude Energy Inc (Operator) et al 2
41.5%
Aurora Oil & Gas Limited
20.0%
Adelphi Energy Ltd
20.0%
Empyrean Energy plc
6.0%
1 Through its wholly-owned US subsidiary, Hosston Oil & Gas LP
2 Includes other private US companies / investors
Further details of the Sugarloaf Prospect and associated farm-in terms are summarised on our website at www.eurekaenergy.com.au which also includes a brief review of the US gas market and fiscal terms.

 

[Agentm]

congratulations everyone....


you are now the owner of stock that is worth gold..


and i aint selling a single share..

enjoy the ride as its sweet!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[tarzanhey]

congratulations everyone....


you are now the owner of stock that is worth gold..


and i aint selling a single share..

enjoy the ride as its sweet!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Hope you dont mind if I post this on the UK bb Agent M

glad I stayed up late tonight

 

[HOMER J]

im a little suprised they arent going harder. think the market is asleep? wish i had more spare cash....

 

[maverick11]

i like the ASX stuff up where they opened for a minute then went back into pre-nr. Few lucky people got orders in.

Gas in the hosston...this is great news. There is gas there and this could be massive!

Surprised to see the volume aren't higher on these stocks

 

[Broadside]

the day traders got their fingers burned in GDN so they won't be rushing this one quite as fast....fine with me I am happy to wait and the full value will come in time...no intention of selling a single share before holding for 12 months, too much tax

 

[unixspice]

Any gas experts out there care to elaborate on those readings ?

 

[kevro]

Hi guys, have copied this from a post at HC regarding gas units. I am not an oiler or profess to understanding the terminology used but the number of units that ADI have compared to GDN is very different and GDB is getting hammered. I know they have a nice solid 24m but the units are vastly different. I hold both, here's the post, interested in your thoughts.



Hmmmmm ADI
from todays ann: why hasnt it retraced 100%

ADI has what? 20% interest in the well.

Total gas readings peaked at 295 units from a background of about 30 units, and chromatography
indicates the gas consists dominantly of methane (C1), with ethane (C2), propane (C3) and
trace butane (C4).

from what i recall GDN has readings

Gas (methane and ethane with trace propane) was present at levels of up to 2,300 units.
Connection gas ranges from 2,000 to 3,300 units.
Background gas has increased 40-fold to consistent levels of 500-900 units.
Trip gas ranges up to 3,520 units.
All gas levels are highly significant.

mate this is absolutely mental....i hold



Fortune favours the brave.

 

[maverick11]

295u is 2.95%

 

[Agentm]

i can wait forever now for the market to open its eyes,,

1/ hosston sands...

2/ massive gas kick..

3/ everything they saw and everything they knew was there..


just start thinking in terms of porosity and terms of sheer size of this prospect,, they have only just begun to drill away into the sands and bang!!!! there she is..

they expect layers in the sands then shale then layers in the sands,, so multiple gas shows all the way down..


the gas is there,, its the primary and man,, i am happy as..

i cant understand why you would sell today.. but good on anyone selling,, they are happy... i sell at a different level to whats happening out there today..

after GDN the market is weary and wary...

this is a world class well,, drilled by the best in the business,, their credentials are impeccable and their results so far outstanding..


is this a great buy today??? DYOR and run the calculator over 1 TCF or 3 TCF and when you realise the numbers dont go that far on the calculator then maybe you will wake up..

gas shows are gas shows,, but the numbers are good,, and i expect to see the same sort of announcements day after day now..

look at the research, look at the seismics,, look closely at the siesmics released by eka a week ago in their annual report,, look at couchys estimates,, look at the eka prospectus.. then ask youself if these guys have not delivered everything they went there for...

good luck and dont sell yourself short on sugarloaf.. its got $1.20 on the secondareies already and once you calculate the primaries its got many many times that to go..

cheers

 

[HOMER J]

Great call on this one Agentm! you were extremely confident of gas shows in hosston and were on the money!
cheers

 

[maverick11]

something interesting i found was ADI are tight as a ship! EKA & AUT were up 10-15% before announcement today but ADI was in fact down. If only I had money to buy more yesterday! I feel this is just the beginning. Confidence in Hosston has been greatly improved. 4000ft of potential gas play and they have only just cracked the egg shell. The gas is there and is an added bonus to the already massive secondaries.

I feel the SP will pick up a bit more towards the afternoon now that stupid people who sold today have been flushed out.

Still bargain basement prices imo.