ADI - Adelphi Energy

[Bullion]

Just me, or is the ann nothing special? Expected to reach it late november...

 

[Agentm]

great snowball job last week,, they managed to post all the major shows and the market missed it..

look back a bit further and you will see the austin chalks announcement passed everyone by the same way..

these guys know how to play things cool.. hats off to them..

 

[maverick11]

little disappointed. there has been gas since friday, yet they say "yep, still drilling, talk to you next week"

Talk about playing it down! Oh well, i managed to buy more

 

[HOMER J]

i dont get it, if those leaked logs were correct and they had gas shows wouldnt they have to tell us?

 

[Jus]

Well, i think they really want to play it down.... and then.... boom! rocket!

 

[djones]

little disappointed. there has been gas since friday, yet they say "yep, still drilling, talk to you next week"

Talk about playing it down! Oh well, i managed to buy more

If couch's reports were true then they would be in the announcement today wouldnt they?

 

[ironchef]

I bought shares at $0.89. So im down a good chunk right now as it stands..

Why would ADI not mention a thing about indications on thier weekly report? 'Playing it cool' isnt stopping the massive fluctuations

 

[djones]

Well, i think they really want to play it down.... and then.... boom! rocket!

Thats the positive way of looking at it. Whats the negative way (which should be considered) that there is absolutely nothing to report?

 

[Agentm]

SUGARLOAF-1 WEEKLY PROGRESS REPORT
Adelphi Energy Limited advises that at 6am Texas time on 14th November 2006 the Sugarloaf-1 exploration well, located in the onshore Gulf Coast Basin in Texas, USA, was drilling ahead in 6 ½ inch hole at a depth of 19,150 feet (5,838 metres).

Since the last report released on 10 November 2006, the well has continued to drill a sequence of interbedded sandstones, shales and minor limestones in the primary target of the Sugarloaf-1 well. Drilling is continuing towards proposed total depth of 21,000 feet (6,400 metres), expected to be reached in late November assuming trouble-free drilling.

ASX releases will continue be made routinely every Wednesday unless there are material matters which require an earlier release.

i read it as that since the 10th november they are drilling away in the primary target!!!!

let me know if you see it different...

why are people selling???

 

[djones]

i read it as that since the 10th november they are drilling away in the primary target!!!!

let me know if you see it different...

why are people selling???

Alot of people would of expected a summary of what they have found so far in the primary target. Me included. Obviously nothing of interest or price sensitivity has been found barring the first 2 announcements.

It also makes me wonder about couch's reports as surely some of those numbers would of been in this weeks announcement.

 

[Broadside]

Alot of people would of expected a summary of what they have found so far in the primary target. Me included. Obviously nothing of interest or price sensitivity has been found barring the first 2 announcements.

It also makes me wonder about couch's reports as surely some of those numbers would of been in this weeks announcement.

given it is a weekly update it should include last Thurs and Fri's gas shows as well, but not a word. This is the least informative update yet, they are getting tighter and tighter lipped.

 

[maverick11]

i dont get it, if those leaked logs were correct and they had gas shows wouldnt they have to tell us?

That's just it. They have been doing this the whole time. They had 7 total recorded shows up until friday last week and only reported 3 of those to the market - small ones too i might add. They have since had additional shows since then. Like usual, they are playing it down. The price is going to go less crazy doing this rather than feeding the market the news now when they are still weeks from logging the well... like the folks over at GDN. I was still hoping they would feed us a little more good news today afterall.

Ironchef, I wouldn't be sweating it. If I have missed a lot of profits, yet still hold for the bigger picture, and xmas present

 

[stereo21]

does anyone know how long wireline logging and flow testing should take once drilling has stopped?

 

[Jus]

I agree with u. We are eyeing for the potential upside which needs patience... and high reward comes later. Its all about Sugarloaf, and I have faith.

That's just it. They have been doing this the whole time. They had 7 total recorded shows up until friday last week and only reported 3 of those to the market - small ones too i might add. They have since had additional shows since then. Like usual, they are playing it down. The price is going to go less crazy doing this rather than feeding the market the news now when they are still weeks from logging the well... like the folks over at GDN. I was still hoping they would feed us a little more good news today afterall.

Ironchef, I wouldn't be sweating it. If I have missed a lot of profits, yet still hold for the bigger picture, and xmas present

 

[stereo21]

I sent an email off to Adelphi asking if further gas shows have been encountered from press release on Nov 10 to press release today. I just recevied the following reply from Adelphi's exec chairman:

"We only report gas shows that are of a material nature. This however does not mean that the well has not encountered further gas but it would make no sense to report less significant shows unless we considered these to be potentially of a commercial nature."

 

[Agentm]

if you would re read the announcement, you will see what they are saying.. they are saying they are still in the primary, still getting gas shows..

nothings changed since thurday and friday,, shows and plays,, none more significant than thursdays and fridays..

now please tell me why people are selling..???

is there a rumour around i have not heard about??

seriously it worries me to see the price fall on a report saying nothing has changed since friday,, still getting same as before,, gas shows..!!!!

 

[Kauri]

I heard that they had a Barbie and a few beers :bier: at the drill site last week and that some of the gas shows are due to some of the prawns being a bit off!! :flush:

 

[barney]

if you would re read the announcement, you will see what they are saying.. they are saying they are still in the primary, still getting gas shows..

nothings changed since thurday and friday,, shows and plays,, none more significant than thursdays and fridays..

now please tell me why people are selling..???

is there a rumour around i have not heard about??

seriously it worries me to see the price fall on a report saying nothing has changed since friday,, still getting same as before,, gas shows..!!!!

Hi Lads, Im in Hope I dont jinx you all .... my lucks been a bit average lately .......... Those selling probably got in real early and just taking some nice profits cause the report wasnt as good/exciting as they expected...... I'd call it impatience ....... I know cause I suffer from it!!! (Impatience has cost me heaps over time ..... those selling atm might have that feeling in a week or two!! ) Give it a few days I reckon Cheers, Barney.

 

[maverick11]

I sent an email off to Adelphi asking if further gas shows have been encountered from press release on Nov 10 to press release today. I just recevied the following reply from Adelphi's exec chairman:

"We only report gas shows that are of a material nature. This however does not mean that the well has not encountered further gas but it would make no sense to report less significant shows unless we considered these to be potentially of a commercial nature."

Bingo! Austin chalk and hosston are definately looking commercial, hence the initial gas announcments to satisfy the ASX. Now things will be left to the weeky announcments i suspect, while they do their work.

Agentm, I susepect the sell off was impatient people (i know I am eagerly awaiting too!) which triggered a sell off and stop losses of people hoping for a quick buck on the back of a good announcment today.

I am guessing full depth of 21,000ft will be reached on approx tues 27th Nov assuming drilling is 125ft per 24hrs. I also wouldn't be surprised if they find it is deeper than this and keep drilling. Flow testing and logging would easily take a week as the majority of time is taken in analysing and interpretting all the complex data that is recorded in the process

 

[Broadside]

I sent an email off to Adelphi asking if further gas shows have been encountered from press release on Nov 10 to press release today. I just recevied the following reply from Adelphi's exec chairman:

"We only report gas shows that are of a material nature. This however does not mean that the well has not encountered further gas but it would make no sense to report less significant shows unless we considered these to be potentially of a commercial nature."

that argument gives them plenty of wiggle room if the ASX asks them continuous disclosure questions...and incidentally implies the first 2 gas shows are potentially commercial