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Don't forget they all will lose 50% of their holdings if the farm in is successful.
damn 100 charecters, lol
damn 100 charecters, lol
ADI - Adelphi Energy
- Thread starter Dukey
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thanks sam
if i comment on eka or aut we all know the consequences.. lol
condog. there are small caps on the asx holding such vast acreages in the eagelford they have little ability to fund the infrastructure, pipelines and well costs to extract the oil..
my view is that adi has always had a larger shareholder, arc energy initially then later awe. this shareholder would have imho had a big impact on whether adi went crazy and bought up massive acreages. i think restraint and a conservative and calculated approach can also deliver very good upsides to a company. and there is no doubt adi has had many opportunities to increase its acreage position in texas in the shale..
if your going to hold these acres, then you need massive capital, you need to fund the acreages themselves with lease buying. $300 - $500 an acre..($5 mill in costs every 3 years if you hold 10,000 acres) and if you hold them then you have to have the funds for the costs related to the drilling. if you hold 80% of the leases in your name then you generally need to cough up 80% of the well drilling costs ($5 - $8 mill each easy), pipeline costs, pipeline leases, and mineral leases. and all associated plant and equipment costs at the well sites. you also have to gauge the companies ability to deliver these wells to their shareholders. (look for announcements relating to cap raisings and promises of wells over the years for a clue there)
we are talking 100's upon 100's of millions needed..
thats why there are some small caps on the asx right now screaming for a takeover or buyout of their positions, if they dont, then you have to calculate the dilution to their respective sp to raise capital, and also if a company of that size has the ability to raise the capital needed in any case.
some of these small caps have acreages that mid size oilers in the usa cant even contemplate handling.. some of these guys cant raise 150 mill or 300 mill in a few months i am certain..
it all a case of dyor and work out for yourself how much things will cost, work out if its well calculated, does the forward plan meet the capabilities of the cash reserves, the capabilities of the management, and work out what dilutions may be occurring in the future should the forward plans start to unfold..
makes it an interesting exercise in practicalities.. sometime having it all is simply too much..
all imho and dyor
if i comment on eka or aut we all know the consequences.. lol
condog. there are small caps on the asx holding such vast acreages in the eagelford they have little ability to fund the infrastructure, pipelines and well costs to extract the oil..
my view is that adi has always had a larger shareholder, arc energy initially then later awe. this shareholder would have imho had a big impact on whether adi went crazy and bought up massive acreages. i think restraint and a conservative and calculated approach can also deliver very good upsides to a company. and there is no doubt adi has had many opportunities to increase its acreage position in texas in the shale..
if your going to hold these acres, then you need massive capital, you need to fund the acreages themselves with lease buying. $300 - $500 an acre..($5 mill in costs every 3 years if you hold 10,000 acres) and if you hold them then you have to have the funds for the costs related to the drilling. if you hold 80% of the leases in your name then you generally need to cough up 80% of the well drilling costs ($5 - $8 mill each easy), pipeline costs, pipeline leases, and mineral leases. and all associated plant and equipment costs at the well sites. you also have to gauge the companies ability to deliver these wells to their shareholders. (look for announcements relating to cap raisings and promises of wells over the years for a clue there)
we are talking 100's upon 100's of millions needed..
thats why there are some small caps on the asx right now screaming for a takeover or buyout of their positions, if they dont, then you have to calculate the dilution to their respective sp to raise capital, and also if a company of that size has the ability to raise the capital needed in any case.
some of these small caps have acreages that mid size oilers in the usa cant even contemplate handling.. some of these guys cant raise 150 mill or 300 mill in a few months i am certain..
it all a case of dyor and work out for yourself how much things will cost, work out if its well calculated, does the forward plan meet the capabilities of the cash reserves, the capabilities of the management, and work out what dilutions may be occurring in the future should the forward plans start to unfold..
makes it an interesting exercise in practicalities.. sometime having it all is simply too much..
all imho and dyor
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No worries Agent M.
I'm going to let my thoughts build up until i have more than 100 letters next time though.
Copped a kick in butt for that last post, lol
I'm going to let my thoughts build up until i have more than 100 letters next time though.
Copped a kick in butt for that last post, lol
condog i think you made the right choice ( i only hold aut & eka but think all 3are great value )
aut is the best value out of all 3 imho.
reason
adi has 150 million shares & approx 4500 to 5000 net acres pre farm out
3 fracs 3 new wells inc fracs done by hilcorp
aut has 200 million shares & approx 18000 net acres pre farm out.
3 fracs 7 new wells inc fracs, 4 of these will be on their extra acres done by hilcorp. aut extra acres are near conocos bordovski well ,so plenty of action there.
sam76 i think these 4 extra wells done by hilcorp are to fill their obiligation on the extra acres
so i think if the sugarcane is as good as everyone thinks, funding will not be a problem after the 10 well program or a possible sellout of acres once true value is recognised.
been here since day 1 of sugarloaf well have felt many a frustration over the years
aut is the best value out of all 3 imho.
reason
adi has 150 million shares & approx 4500 to 5000 net acres pre farm out
3 fracs 3 new wells inc fracs done by hilcorp
aut has 200 million shares & approx 18000 net acres pre farm out.
3 fracs 7 new wells inc fracs, 4 of these will be on their extra acres done by hilcorp. aut extra acres are near conocos bordovski well ,so plenty of action there.
sam76 i think these 4 extra wells done by hilcorp are to fill their obiligation on the extra acres
so i think if the sugarcane is as good as everyone thinks, funding will not be a problem after the 10 well program or a possible sellout of acres once true value is recognised.
been here since day 1 of sugarloaf well have felt many a frustration over the years
Agent thats an interesting and extremely well informed viewpoint on the acerage holding costs....
AUT seems to have sugarkane sorted with the ADI / EKA arrangments holding 20% in sugerkane, 50% in longhorn and 80% in Ipanema after the farmin/out to hillcorp...
I hear what you say and have taken it on board....thanks...
Looking into ADI more tonight ....
AUT seems to have sugarkane sorted with the ADI / EKA arrangments holding 20% in sugerkane, 50% in longhorn and 80% in Ipanema after the farmin/out to hillcorp...
I hear what you say and have taken it on board....thanks...
Looking into ADI more tonight ....
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MIR
Nothing related to ADI :topic
But I noticed the posting suggests this was your first posting though you are in ASF since 2006.
I am sure this shows you are also one of those patience investors who make good returns by virtue of their patiently wait game on some scrips.
Good work and replying to this will be your second posting - Ha Ha
MIR
Nothing related to ADI :topic
Good work and replying to this will be your second posting - Ha Ha
Its a legit topic as the two are so similar and in huge JV together ....sorry if anyones thinks its off topic, but who better to come to, for reason to split the two hairs so to speak...and the dialogue above has been excellent for anyone considering one ro both.... I certainly very much appreciated the input....
It confirmed some of my thoughts, challeneged others and raised a few issues to further investigate...Great stuff..
now for no 2 miner just answering condogs question from earlier today.
whether you invest in adi aut eka i think there is significant up side in all 3.
i have attended many presentations in the early days of the sugarcane re the potential .tcei had alot of data on the chalks back then via jv with conoco and some other old wells (this info was kept quiet due to leasing activities).the condensate & gas has always been there just a matter of getting fracs right & i think others are getting there .if we can get a resonable result on kowalik we should be away, given not ideal completion.
this is why i have been patient.
whether you invest in adi aut eka i think there is significant up side in all 3.
i have attended many presentations in the early days of the sugarcane re the potential .tcei had alot of data on the chalks back then via jv with conoco and some other old wells (this info was kept quiet due to leasing activities).the condensate & gas has always been there just a matter of getting fracs right & i think others are getting there .if we can get a resonable result on kowalik we should be away, given not ideal completion.
this is why i have been patient.
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Hi Mir
Your topic was right on ADI
I raised the point stating mine was off the topic as it was unrelated to ADI . Basically I was stirring instigating you to make another posting. YOu did Not bad and think if our share prices go up double on a day ?
So Mir enjoy your multiple postings
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totally agree with you on all things mir and great to see you post..
my view on aut was it was a bold decision to venture into the acreages and i absolutely hope your long term hold on eka and aut pays off.. which i think it will..
aut eka and adi all have exposure to the eagleford, with aut definitely having the lions share on acreages
good luck to all holders in all all jvp partners, these next days will deliver news on the flowrates of kowalik, and a new well being drilled and of course two more fracs are about to commence
low volumes on the shares, but a steady increase in the sp is being given to all jvp partners..
50% increase in the eka price in 15 days
12% increase for adi price in 15 days
liking the way its going myself
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I think ADI is really testing 18c barrier again today with little available for purchase by those on the side line.. ( good to see some shares have already traded before lunch time .. things must be heating up.. ) I would like to 18c broken and then become some support for this one.. today could be the day..
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easley well site is on the go as reported in adi's last release. fencing is going up and the pad is being readied right now.
a rig can easily be pur on the site by the end of the month as suggested in the last report.
a rig can easily be pur on the site by the end of the month as suggested in the last report.
agentm i have been reading your posts for years and enjoyed the doubters doubt your posts on the regional play & all the major players involved (& even a mod who has gone very quiet of late ,cant remember what forum)
the info i received was pretty much the same as yours & came from a very reliable source .
the info i received was pretty much the same as yours & came from a very reliable source .
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not quiet the ann. that ADI holders were waiting for and all we can do now is look forward to the next two well's
not quiet the ann. that ADI holders were waiting for and all we can do now is look forward to the next two well's
Its fine they will sort that,,,
Also two + announcments re other wells to boot so no big shakes IMO , if anything the update on the other two is fine...technical glitches like this happen..
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Thanks for that condog,just feels like friday the 13th not 15th:topic just the
ctp ann of coal and the "rocketing" share price (pardon the cynicism) and this ann from adi didn't meet my expectations for the day:cussing:
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okay i will refrain from making any more comments on any shares i own .. the second i hint that its looking rosey they drop a bomb or the share price doesnt react .. i will start some real negative talk that should do the trick ..
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easley about to be drilled
kennedy about to be fracced
kowalik suspended until the current down hole issue is carefully thought through and solved. with two more operations on the way its probably stretching things a little to have all three things going at once. taking a step back and planning things properly is a good move
starting to believe the kowalik well was cursed in some way.. this is really a problematic well for tcei..
15 January 2010
Company Announcements Platform
Australian Stock Exchange Limited
Exchange Centre
20 Bond Street
SYDNEY NSW 2000
Via ASX Online
SUGARLOAF OPERATIONS UPDATE
Adelphi Energy Limited (Adelphi) provides an update on operations within the Sugarloaf AMI.
Kowalik #1H - Fracture Stimulation Program
Following the decision to tie back the liner at Kowalik #1H, having observed an anomalous pressure drop at the end of the main fracture stimulation stage, a rig was mobilized to the wellsite to carry out the necessary work. During one of the final stages of this work, when cement had been circulated into the annulus of the tie back string, a section of slim drill pipe being used as a running string for the tie back string parted some 700ft below surface.
The initial fishing activities have so far recovered tubing down to a depth of 8,150ft but in light of the other activities commencing within the Sugarloaf AMI, it has been decided to suspend operations on Kowalik #1H so that further evaluation and planning can take place before reentering the well.
The workover rig is presently being demobilised from the location. This will lead to a further delay before Kowalik #1H can be prepared for flow testing following the fracture stimulation carried out on 28 December 2009.
Easley #1H Spud Date for new Horizontal Well
Adelphi has been advised by the Operator, Texas Crude Energy Inc (TCEI), that the Patterson #150 drilling rig commenced mobilization to the Easley #1H rig site on Thursday, 14 January 2010. It is expected that the well will be spudded early in the week beginning 18 January 2010. Easley #1H is the first new well to be drilled under the farmin agreement with Hilcorp Energy within the Sugarloaf AMI.
Kennedy #1H Scheduled Commencement of Fracture Stimulation Program
Adelphi has been advised by TCEI that the Kennedy #1H fracture stimulation is scheduled to commence on Monday, 18 January 2010. As previously advised, the 4,000ft of horizontal liner will be fracced in 14 separate stages with an isolation plug set between each stage. The operation is expected to take 7 10 days after which the isolating plugs will be drilled out and the well cleaned up and then flowed to sales.
kennedy about to be fracced
kowalik suspended until the current down hole issue is carefully thought through and solved. with two more operations on the way its probably stretching things a little to have all three things going at once. taking a step back and planning things properly is a good move
starting to believe the kowalik well was cursed in some way.. this is really a problematic well for tcei..
15 January 2010
Company Announcements Platform
Australian Stock Exchange Limited
Exchange Centre
20 Bond Street
SYDNEY NSW 2000
Via ASX Online
SUGARLOAF OPERATIONS UPDATE
Adelphi Energy Limited (Adelphi) provides an update on operations within the Sugarloaf AMI.
Kowalik #1H - Fracture Stimulation Program
Following the decision to tie back the liner at Kowalik #1H, having observed an anomalous pressure drop at the end of the main fracture stimulation stage, a rig was mobilized to the wellsite to carry out the necessary work. During one of the final stages of this work, when cement had been circulated into the annulus of the tie back string, a section of slim drill pipe being used as a running string for the tie back string parted some 700ft below surface.
The initial fishing activities have so far recovered tubing down to a depth of 8,150ft but in light of the other activities commencing within the Sugarloaf AMI, it has been decided to suspend operations on Kowalik #1H so that further evaluation and planning can take place before reentering the well.
The workover rig is presently being demobilised from the location. This will lead to a further delay before Kowalik #1H can be prepared for flow testing following the fracture stimulation carried out on 28 December 2009.
Easley #1H Spud Date for new Horizontal Well
Adelphi has been advised by the Operator, Texas Crude Energy Inc (TCEI), that the Patterson #150 drilling rig commenced mobilization to the Easley #1H rig site on Thursday, 14 January 2010. It is expected that the well will be spudded early in the week beginning 18 January 2010. Easley #1H is the first new well to be drilled under the farmin agreement with Hilcorp Energy within the Sugarloaf AMI.
Kennedy #1H Scheduled Commencement of Fracture Stimulation Program
Adelphi has been advised by TCEI that the Kennedy #1H fracture stimulation is scheduled to commence on Monday, 18 January 2010. As previously advised, the 4,000ft of horizontal liner will be fracced in 14 separate stages with an isolation plug set between each stage. The operation is expected to take 7 10 days after which the isolating plugs will be drilled out and the well cleaned up and then flowed to sales.
i also feel like pulling the rest of my teeth out but was told early in the piece it would take several wells to get drilling ,completions & fracs right (& now mechanical failure) kawalik is the 2nd horizontal well to be drilled. then it will become a numbers game with some wells performing better than others especially in the chalks due to natural fractures.
