ADI - Adelphi Energy

[stickman]

HI

iam looking to get back in having brought the first break at .19 asc /triangle and sold at .30,

maybe a re test at .19 ????


cheers

 

[condog]

This thing has 5000 posts and its becasue all eaglefor posting goes on in here. Its great i love it. Perhaps Joe can just temporarily accommodate us by allowing all 5 to be posted in here together.

We all have our favourites and our reasons, and its healthy to discuss those and have them cross examined.

One thread while the jvp is in operation like htis is far better.

 

[Agentm]

This thing has 5000 posts and its becasue all eaglefor posting goes on in here. Its great i love it. Perhaps Joe can just temporarily accommodate us by allowing all 5 to be posted in here together.

We all have our favourites and our reasons, and its healthy to discuss those and have them cross examined.

One thread while the jvp is in operation like htis is far better.

condog, my view is that there is no problem for anyone to set up a specific thread on the asf forums which deal with a general topic covering all of the eagleford participants, so a thread specific to the comparisons of the eagleford players could easily be the best place to discuss all the asx companies in the eagleford.. why not set one up?







stickman

a revisit for adi into .19 will be welcomed by me, i would be chasing more at those levels myself.. good on you for achieving a healthy gain recently and lets see if it goes to .19 or .47

 

[nioka]

Asking questions or challenging the analysis of someone else is fair enough, but posting solely with the intention of provoking others is not.

Lets stay on topic and keep it civil please!

If this refers to my request then I'd like to say that the post was not intended to provoke in any way what so ever.Nor was it posed as a challenge. AgentM is the most informed and reliable poster I have ever come across and his opinion is valued.

The question asked was one that was asked of me and one which I felt that I would not answer correctly. I therefore opened the question to others that may have an opinion on this important question.

 

[Miner]

HI

iam looking to get back in having brought the first break at .19 asc /triangle and sold at .30,

maybe a re test at .19 ????


cheers

Hi Stickman

Could you please elaborate your reading ADI to be tested at .19 ? What time frame and why do you think so?

Other chartists could you please come to the party and infer if you are in agreement with Stickman's observation / readin gof curve

 

[lemontree]

HI

iam looking to get back in having brought the first break at .19 asc /triangle and sold at .30,

maybe a re test at .19 ????


cheers

Looking at the chart at the moment, it's going sideways. I don't think it'll drop back to .19 again. In my own opinion i think the chart will begin an upward trend with increased volumes in the next few months.

 

[Agentm]

Made a run through Cheapside, still EOG still drilling on Clampit 2nd well. Saw a new pad on Marshall last week, turned out to be tank pad, 20 tanks on pad. That makes 34 tanks on 2 locations on Marshall. I am sure EOG is using that as central location for Marshall, Clampit, and Brothers, (new location on property about 1/2 mile west of Marshall. Also saw new rig moving in 6 miles south of Smiley toward Yorktown. Koenning lease being drill by Riley Resouces. New name in area. Also, land owners are being paid for new pipeline coming in from south. They say it is a right of way for 4 lines, 2 oil, 1 gas, and 1 other condensate. Keep you informed as we hear other news in Gonzales.

i noticed the gonzales county ip report for that riley well did 836bopd with 793 mcf and 110 in water on the ip for 24 hours

the well was maali.. that region is in the oil zone and close to the eog operations

closer to home the eog operator has put in 3 permits in karnes for the lyssy cluster 4h 5h and 6h.. keeping busy just a few miles north of the adi acreages, as is hawthorn chasing the edwards and dan hughes(eog?) with their wells there also..

morgan site a few days b4 the frac

 

[Kremmen]

If AUt have 10 wells of post hilcorp cashflow and ADI have three which do you think will be able to fund more drilling.

While true, don't forget that ADI has 1/3 the market cap and 3/4 the number of shares on issue of AUT. The income per $ invested in your above scenario is about the same for both companies.

i dont know of any other ASX eagleford players myself adobee, AWE perhaps with their 32% holding in adi is the only other i can think of.. i hear they are pretty impressed with the shale play adi has.. which means imho the chance of them selling out is pretty low, making the share tightly held still for a long time to come

It also means ADI would be an easy takeover target if AWE accepts the offer.

 

[mick z]

i wonder how much longer it will take for Hilcorp to recoup thier investment for the three frac's.
i would have thought they would of recouped it by now
oil has been over $80.00 a barrel during the frac's.

total of 48,031 barrels = $3,842,480

gas of 404,000,000 mmcf = $ 1,616,000


grand total $ 5,458,480

dont forget this is only for 30 & 60 day average and there one month behind in payments

any thought anyone ?


cheers

 

[Agentm]

QUARTERLY REPORT

FOR THE QUARTER ENDING 31 MARCH 2010

HIGHLIGHTS

The Sugarloaf AMI farmin program by Hilcorp Energy continued to gather pace during the quarter with three existing wells fracture stimulated, two wells (Kennedy and Weston) producing to sales at strong flow rates and three new wells (Easley, Morgan and Rancho Grande) drilled and completed in preparation for fracture stimulation as at mid April.

Initial 30 day production rates of approximately 11.5mmcfe/d from each of the Kennedy and Weston wells are an excellent result and demonstrate that the Sugarkane reservoir comprising the Austin Chalk and the Eagle Ford shale combined are able to flow at strong commercial rates.

These, and subsequently reported 60 day production rates, compare very favourably to the average regional Eagle Ford production results reported by Petrohawk from their Hawksville Field, predominately due to the higher gas liquids ratio in the Sugarloaf area.

With the Kennedy well, only a 2,200 feet section of the lateral was fracture stimulated, indicating considerably higher production potential for future wells in the area with longer fracced laterals. A recently reported well drilled by Pioneer located near to the Sugarloaf area (Handy Unit #1) achieved a reported initial production rate (IP) of 7.7 mmcf/d and 2,030 bbl/d (~34 mmcfe/d on a 12: 1 conversion basis) from a 4,400 feet fracced lateral.
This compares to the Kennedy well IP of 19.1 mmcfe/d from its 2,200 feet fracced lateral.

The three new Sugarloaf wells were drilled and completed with laterals of up to 5,000 feet, with the first of these wells (Morgan #1) being fracced as at the date of this report. The Easley and Rancho Grande fracs are scheduled to commence successively thereafter.

Significant improvements are already evident in the drilling times and costs for the new Sugarloaf wells, which will not only contribute towards enhanced well economics but also allow for a faster development of our acreage to maximize project returns.

The Sugarloaf AMI farm-in program by Hilcorp is expected to be completed by mid 2010, with the full scale development of our leases expected to commence by early 2011.

Subject to operator confirmation, there is potential for further wells to be drilled in our area during 2010.

In Yemen Block 74, mapping of reprocessed seismic data was concluded during the quarter which identified a new prospective trend in the southern part of the block, with several large multi-target prospects and leads of up to 80 mmbls of oil. Approximately 270 km of 2D seismic is targetted to be acquired by mid-year, followed by a three well drilling campaign expected to commence in late 2010.

 

[Bigukraine]

QUARTERLY REPORT

FOR THE QUARTER ENDING 31 MARCH 2010

HIGHLIGHTS

The Sugarloaf AMI farmin program by Hilcorp Energy continued to gather pace during the quarter with three existing wells fracture stimulated, two wells (Kennedy and Weston) producing to sales at strong flow rates and three new wells (Easley, Morgan and Rancho Grande) drilled and completed in preparation for fracture stimulation as at mid April.

Initial 30 day production rates of approximately 11.5mmcfe/d from each of the Kennedy and Weston wells are an excellent result and demonstrate that the Sugarkane reservoir comprising the Austin Chalk and the Eagle Ford shale combined are able to flow at strong commercial rates.

These, and subsequently reported 60 day production rates, compare very favourably to the average regional Eagle Ford production results reported by Petrohawk from their Hawksville Field, predominately due to the higher gas liquids ratio in the Sugarloaf area.

With the Kennedy well, only a 2,200 feet section of the lateral was fracture stimulated, indicating considerably higher production potential for future wells in the area with longer fracced laterals. A recently reported well drilled by Pioneer located near to the Sugarloaf area (Handy Unit #1) achieved a reported initial production rate (IP) of 7.7 mmcf/d and 2,030 bbl/d (~34 mmcfe/d on a 12: 1 conversion basis) from a 4,400 feet fracced lateral.
This compares to the Kennedy well IP of 19.1 mmcfe/d from its 2,200 feet fracced lateral.

The three new Sugarloaf wells were drilled and completed with laterals of up to 5,000 feet, with the first of these wells (Morgan #1) being fracced as at the date of this report. The Easley and Rancho Grande fracs are scheduled to commence successively thereafter.

Significant improvements are already evident in the drilling times and costs for the new Sugarloaf wells, which will not only contribute towards enhanced well economics but also allow for a faster development of our acreage to maximize project returns.

The Sugarloaf AMI farm-in program by Hilcorp is expected to be completed by mid 2010, with the full scale development of our leases expected to commence by early 2011.

Subject to operator confirmation, there is potential for further wells to be drilled in our area during 2010.

In Yemen Block 74, mapping of reprocessed seismic data was concluded during the quarter which identified a new prospective trend in the southern part of the block, with several large multi-target prospects and leads of up to 80 mmbls of oil. Approximately 270 km of 2D seismic is targetted to be acquired by mid-year, followed by a three well drilling campaign expected to commence in late 2010.

holding on to the yemen block 74 and doing a three well drill campaign.... good to see not all the eggs in one basket and could add value to ADI .... mmmm might be time to jump back in .... IMO DYOR

 

[estseon]

"Subject to operator confirmation, there is potential for further wells to be drilled in our area during 2010."

This what EME said on 14th April in explanation of its capital raising (it had other purposes as well):

"With recent successful results at Sugarloaf project, we are expecting that Hilcorp Energy Company ("Hilcorp") will continue to scale up the development operations. Three wells are nearing fracture stimulation operation at Hilcorp's cost, following which Empyrean will be required to contribute to its working interest of 3% to new development wells. "

It seems to be gathering momentum. ADI has cash on hand for its share. This appears to be very encouraging.

Has anyone discovered why Morgan was re-scheduled in advance of Easley? Morgan and Rancho appear to be either side of Kowalik on trend. Kowalik's initial flow was condensate rich (>300bbls per 1mmcfg).

 

[Tordilla Kid]

AgentM,

The three Lyssy wells you mentioned earlier as recent approvals were simply amended to change field name from wildcat to Eagleville (Eagle Ford). They've already been drilled as has Orr 1H. The rig is now on Orr 2H pad.

There are two new EOG wells approved in Wilson County the Borgfeld Unit 1H and 2H about six kilometers north of the Lyssy/Orr wells. Two new wells approved on the Orr lease as well 3H and 4H. So still plenty of action in that vicinity.

So far in April, EOG has amended existing wells to change to Eagleville (Eagle Ford) and added a well or two to all their "well clusters" across the play. The temporary field rules were approved last month.

TK:guitar:

 

[rock86]

To be honest, we all know what they have said about Sugarloaf in their quarterly. We know that it is highly profitable, the results on our acreage are above average, drilling costs have decreased, and (assumed) the drilling program was going to step up in 2011.

The most positive thing I take from the quarterly is that they are performing more seizmic data analysis on Yemen which in the report looks promising, and if results come back will drill a 3 well program. If results are positive ADI will be in blue sky by the 1st quarter in 2011

 

[Hatchy]

holding on to the yemen block 74 and doing a three well drill campaign.... good to see not all the eggs in one basket and could add value to ADI .... mmmm might be time to jump back in .... IMO DYOR

Perhaps this is the reason for the trading hold pending equity raising announcement that has come through this morning.
I would have though that ADI was in a fairly solid position as far as equity goes, perhaps not.

 

[lemontree]

Trading halt until the 29th of April. Something about "seeking the trading halt pending an announcement in relation to equity financing"

 

[Miner]

Perhaps this is the reason for the trading hold pending equity raising announcement that has come through this morning.
I would have though that ADI was in a fairly solid position as far as equity goes, perhaps not.

Trading halt until the 29th of April. Something about "seeking the trading halt pending an announcement in relation to equity financing"

Trading Halt announcement and no commentary from Agentm or Condog yet seems to be unusual .

I thought they do not sleep to sniff any gaseous smell from ADI - but probably long weekend effect.

Any way more seriously I am eager to know why the halt.

 

[Agentm]

Trading Halt announcement and no commentary from Agentm or Condog yet seems to be unusual .

I thought they do not sleep to sniff any gaseous smell from ADI - but probably long weekend effect.

Any way more seriously I am eager to know why the halt.

miner, the reason for the halt was made clear in the announcement, page 2 detailed raising equity finance.

i recall an agm where adi was keen to raise debt and also minimise cap raisings, and it appears the need to have capital in 2010 despite a considerable cash reserve in the bank indicates to me some forward planning is going on.

somehow i think there is less and less likelihood of there not being further drilling in the AMI.. imho its becoming obvious there is an argument that "game on" is about to be the war cry.. go club sugarkane

 

[Lucky_Country]

Umm well lets hope its short term pain long term gain scenario.

Flows from the 3 new well should be conclusive once and for all on the area that ADI has a hold in.

Forward drilling will hopefully be increased the US econemy is on the mend and with it comes a higher oil price.

Still a long play ahead for ADI until the full value of this field is reached.

 

[Agentm]

i think getting new blood into the share registry is a brilliant move myself.

conoco has put an new permit in karnes county called edith gray 1h


pretty near the bordovsky well

hilcorp put in another pilgrim permit in gonzales, making that 2 for that county