ADI - Adelphi Energy

[ironchef]

this is also good
http://science.howstuffworks.com/oil-drilling.htm

 

[maverick11]

Bit of a boring day for ADI and all those who hold. Dropped to 69.5cps for a second there but rebounded quickly from buyers snapping them up. It is quite obvious a lot of day traders are on this one waiting for a burst of news as it opened strong and closed strong. Another night of drilling ahead. IMO, at these prices investors are doing well, but I definately can't afford anymore of them!

I wish they would feed a snippet of more good news just to keep up the momentum...did i mention I am impatient?

Kevro, great read by the way

 

[austrader02]

heyFreddie,

I do live In London but used to work at ARC Energy - ADI big brother for 3yrs so know a lot about the company and management and hence the post. I left the company a yr ago but still have friends and they all seem happy with the well to date! As always DYOR but hope that clears up any confusion! And while i do live in London, i am still madly patriotic so hope you brought the Ashes with you as we intend to claim it in the first three test and then field the school boys 3rd XI to win the last two ;-). LOL!

 

[kevro]

G'day Austrader, I like the bit about a brewski, damn I am working nightshift until 0600 Monday. I really could use one right now.

It might however clash with the ulcer I am developing after the last announcement. I am confident however but at the same time apprehensive.

Think I need an Agent M fix, has'nt posted today on ASF.

 

[Broadside]

nice end to the week ......



ASX RELEASE
17 November 2006
Eureka Energy Limited (ASX:EKA, “Eureka” or “Company”)
SUGARLOAF-1 GAS SHOW
Eureka Energy Limited advises that at 6am Texas time on 16 November 2006, the Sugarloaf-1 exploration well was drilling ahead at 19,434 feet (5,925 metres).
Since the last well progress report released on 15 November 2006, the well has encountered a gas show over an 18 foot (5.5 metres) interval. Total gas readings peaked at 536 units from a background of about 230 units and chromatography indicates the gas consists dominantly of methane (C1), with ethane (C2), propane (C3) and a trace of 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 the proposed total depth of 21,000 feet (6,400 metres).

 

[HOMER J]

yep should be a nice day we all know they wouldnt have announced it if they didnt think it was significant.... a lot of hosston to go as well with 3 shows already....

 

[conman]

Broadside,

Im a newbie to this so sorry if im stupid. Is it wrong for me to say this is BAD news.

At first I thought excellent there must be a significant gas show. Then when I read the ann. there was an 18ft intersection. Now i dont know much about gas and I assume that it depends on the width just as much as the depth but it just dosnt sound very big...am i wrong?

Now the above is not that worring to me, my real concern is If they have decided to announce this intersection. It makes me think that there have been virtually zero shows since their announcement last week.

Having said the above I hold and will hold for some time to come. Sugar loaf is def. commercial IMO.
we now have the Secondaries, the primary and (hopefully the begining of) a deeper formation.

Good luck all

Con

 

[tarzanhey]

Evening all - as the ladies say width is more important!

Any find that is reported must be of value or they would not bother to put the info out.

God knows they have kept very quiet about the Austin potential - If they wanted to hype it up then they would have had a great chance then. SO if they are mentioning this it must be good - What about the ratios anyone ???

 

[Broadside]

Broadside,

Im a newbie to this so sorry if im stupid. Is it wrong for me to say this is BAD news.

At first I thought excellent there must be a significant gas show. Then when I read the ann. there was an 18ft intersection. Now i dont know much about gas and I assume that it depends on the width just as much as the depth but it just dosnt sound very big...am i wrong?

Now the above is not that worring to me, my real concern is If they have decided to announce this intersection. It makes me think that there have been virtually zero shows since their announcement last week.

Having said the above I hold and will hold for some time to come. Sugar loaf is def. commercial IMO.
we now have the Secondaries, the primary and (hopefully the begining of) a deeper formation.

Good luck all

Con

yeah that is an interesting point...I will treat it as a positive because Adelphi indicated they wouldn't bother to update the market about shows that weren't potentially commercial...so that is 3 potentially economic shows in the primary target...but I do see your point.

But anyway, Hosston is the bonus for me, I think the Austin chalks secondary will more than justify a much higher share price than we see today. Have a good one.

 

[maverick11]

great news, especially after the fall the last two days. This same thing happened last time too

Austin is massive, and they did a good job at keeping quiet about that one. Hosston has been pretty much gas all the way, but when it breaches a certain level of units and ppm gas, then it is considered significant and therefore market sensitive - a market sensitive show. The announcment today is great, but you may also notice the details are very scarce. Just the bare minimum.

This is a winner guys

 

[cicak_kupang]

Geee, the sp is just keeping its head above the water after a great start to the morning,certainly lost its momentium. Checked out the 2 above liks about what goes into getting the gas/oil out of he groung, from start to end. Very informative, thanx guys.....

 

[Agentm]

for all who dont like my posts, i wont apologise, but there are obviously many out there who dislike my confidence in sugarloaf and ADI, they have their reasons to complain, if they had of sent me a PM then i would have discussed, and i have sent a PM to the monitor but not been given the courtesy of a reply, so i cant comment on whats happened other than to say i will not change my position on the stock and if it bothers you that i have faith in the finds so far and the extremely promising results in the primary, deal with it!!!

I guess any response from me is now considerd a ramp.. many have asked i return, so for those who read my input just remember i expect i will either be suspended or warned by whoever is on this forum and for whatever reason is pissed at me. so lest see what happens. I post in HC also so idf i get booted here for whatever reason, i will post there from time to time..

I look at todays news as confirmation that the integrity off the primary is continuing deeper and deeper, so all elements of the fault, trap seal etc are obviously still in play in the deeper parts of the primary,, the readings are again significantly higher, forcing the partners to announce before the weekend as we all know the couch reports to his investors would have.

Its great to see others here have the same impression that todays announcement is positive. I cant draw any negitivity from it.

they had drilled about, 260 odd feet since the weekend to tuesday texas time 0600 hrs,, then in two days a further 284 feet and in there somewhere a show that had to be annouced under the rules of the ASX. they dont disclose exactly what intervals the gas show was.

I have to say i cant bail on this stock, even though my position is longer than the daily fluctuations in the price..

DYOR on the implications of continued and multiple gas shows in a world class primary like this one.. we know the information is conservative, but each time they say less and less..

I like the sugarloaf primaryis more and more each day, and if this is now the benchmark pressure that they have to report at, i wonder if any shows below this latest one is now not nessesarily worthy of a mention? i am not absolutely sure on what the reporting regulations are??? but i wonder if they are required to report anything less that todays readings or not? does anyone know?

lets see how long i last on this forum now!!????

 

[maverick11]

I'm not expecting too much action today, although it might strengthen up before close for the 48hrs drilling over the weekend. I think the announcment is very reassuring but the market hasn't really responded due to the lack of details in the actual announcment. This is becoming the norm from ADI, and it's amusing reading the wording of the announcments and how much they are playing it down. I can read more from what has not been said than what they have said. They definately don't want another GDN here, that's for sure. Several hundred feet of drilling in the primary and already 3 potentially commercial shows, with a commercial secondary already intersected.

The announcement today says 536u with 230u background gas. Compare that to thurs 295u/30u and friday's 326u/40u and todays numbers are great. Gas units aren't a good indication of well commerciality, but if the gas ppm are up there, along with porosity (and I think they are) then this show is in a similar league to Austin Chalk. Also notice, the readings are getting better the further they get into the hosston.

 

[HOMER J]

good to see you still posting here Agentm.... question, would you expect them to now drill deeper than the 6400m they are stating considering the target was lower than the initially thought?
the way i see it if they have had 3 shows so far with almost half the target to drill the odds for further shows wouldd have to be decent. my opinion only.....

cheers

 

[Bullion]

SP taking a hammering... I guess I am in this longer term than expected...

 

[HOMER J]

SP taking a hammering... I guess I am in this longer term than expected...

Wouldnt say its being hammered but i know what you mean. Oil fell a couple of dollars over night which could be dragging the sector down. Cant believe people wouldnt want in before the weekend ?!?

 

[Broadside]

I like to see the price rising as much as anyone else but my strategy on this has been get in early and hold all the way through even if I see potential profits evaporate in the event of a disappointment...but so far that disappointment hasn't happened, so I am quite content for the value to be realised in time, not immediately.

However if I were a short term trader looking for a spike I would be extremely frustrated at the lack of price action.

 

[Agentm]

still not booted off yet!!

I have the view they have 1,500' of sands still to go.. the seismics indicated there were more than one zone of interest in the primary,, there is an upper and a lower. i think we they have drilled ahead and

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.

Now they give a report of another show,, and no detail, if its sands or shale or what.. i think its in the sands as they never mentioned other types of plays.. looking back in the presentations and seismics you can see the layers. and two distinct targets.

today we get no detail of what they are drilling away into,, on wednesday they did.

IMHO they are back into the sands proper, and i believe they are getting shows again better than before.. in the sands.

DYOR as usual on the significance of the show,, it may be the start of the deeper hosston plays.. all IMHO...

 

[chops_a_must]

for all who dont like my posts, i wont apologise, but there are obviously many out there who dislike my confidence in sugarloaf and ADI, they have their reasons to complain, if they had of sent me a PM then i would have discussed, and i have sent a PM to the monitor but not been given the courtesy of a reply, so i cant comment on whats happened other than to say i will not change my position on the stock and if it bothers you that i have faith in the finds so far and the extremely promising results in the primary, deal with it!!!

I think you are overreacting a tad. If you take a look in the ZFX thread, you will see I made a comment in jest that was acted upon.

But I don't particularly care, and I am excited by it also, because I have a stake in this. :

Soz for any grief caused

 

[stiger]

still not booted off yet!!

I have the view they have 1,500' of sands still to go.. the seismics indicated there were more than one zone of interest in the primary,, there is an upper and a lower. i think we they have drilled ahead and

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.

Now they give a report of another show,, and no detail, if its sands or shale or what.. i think its in the sands as they never mentioned other types of plays.. looking back in the presentations and seismics you can see the layers. and two distinct targets.

today we get no detail of what they are drilling away into,, on wednesday they did.

IMHO they are back into the sands proper, and i believe they are getting shows again better than before.. in the sands.

DYOR as usual on the significance of the show,, it may be the start of the deeper hosston plays.. all IMHO...

Agentm good to see you back. What we need is something from c couch over the weekend.Cheers