maverick11 said: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
Jus said:Well, i think they really want to play it down.... and then.... boom! rocket!
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.
Agentm said: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 said: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.
HOMER J said:i dont get it, if those leaked logs were correct and they had gas shows wouldnt they have to tell us?
maverick11 said: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
Agentm said: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..!!!!
stereo21 said: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."
stereo21 said: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."
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