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ADI - Adelphi Energy

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im in it for the long haul fellas, i mean if SL is not up to the hype that still does not worry me at the least, other projects will certainly pay off for us patient investors, and i mean patient. Not those who expect to double their money in 2 days or after some freak weekly announcement. Good luck to everybody who has invested in ADI. I really do feel nothing but pity for those who bow out and cannot ride a wave...they should just give up surfin all together.
 

"not a single announcement by anyone, no broker reports, no presentations .."
Did you not see the video on the site ?
Link http://www.adelphienergy.com.au/index.php
 
a journey to texas, the movie..

that was some video..

i am very impressed with the worksafe practices, and the rig guy can do the work of 3 i think,, he is one massive bloke...

the music wasnt the best..

i liked the dot on the adelphi "i" flying around the world bit,, it worked well with how i am feeling today..

importantly they have stepped up security with attack rattlesnakes!!

apparently rattlesnakes are attracted to 800 BCF rigs so i think its a good sign..

i am currently in discussions with adi on tshirt promotion,,

but seriously, i found it interesting to see the massive rig in action,, it was impressive..

bring on the wireline results
 
Has anyone any idea on what % change there is of ADI and co, actually finding their 800 +bcf of gas? I read in a broker report from the middle of this year that its only around 14%. I thought with the backing of the Texans there may have been a bigger chance than that. Basically equates to a 1 in 6 chance of HS comming to the party. Anyway, I'm now in it for the 2ndry's, like Agentm, if HS pays off then all the better.
Guess we'll all know soon enough...........
 
The focus is on running & interpreting the logs.
Hosston could have 1500ft + cumulative of interest as gas units seem to be multiple & continuous from 18000ft. In particular the upper Hosston has very favourable lithology.
Austin Chalk is oil bearing according to Charles & is likely to be a producer.
There could be upside from Sligo which was always the prime secondary target rather than Austin. An extra 2500ft of casing was used from 14500ft to 17000ft which took them several $Ms over the original budget & added 10- 12 days to the original schedule. Furthermore Sligo turned out to be 1000ft deeper at 18000ft than indicated by the seismic.
 
hi flintoff,

in the presentations they seem to not have any interest in the sligo, do you think its being considerd as a potential commercial play also?

It will be a great relief to get the log results, i look forward to the austin ones in particular, and the hosston seems to me to be spoken about and played up a lot by ADI just now,, i have never seen a film on a rig being put on a website before, its very bullish in my opinion.. I would much rather they posted the results of the wireline logs from the secondary before i see any film on a rig, but its nice to see the operation as its a massive rig and very impressive.

I think the primary is becoming very positive in ADI's plans, and they are definately planning forward, and talking a lot about it in their presentations, no negativity or conservative remarks there,, which is completely opposite to their weekly reports.. which says to me there is reason for the primary to still be regarded as being potentially commercial..
 
In addition to the possible H&S formation (tenuous) just thought I'd do this chart looking at some support and resistance lines. Really needs to get back above $0.60 v soon, or it's heading to $0.55, and then $0.45ish. Down trending at the moment clearly seen on the moving averages and the MACD is bearishly diverging if anything. Of course, $0.55-60 could turn into a solid consolidation area too, just watch out for a break below this...

Good luck to long term holders. Hope it turns up for you, but I'd be cautious if I was a short term player on this right now. Of course a good ann could turn it around.
 

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Hi agentm,
ARQ have stated in their corporate presentations that Austin appears to be economic ( sub economic is deemed to be a failure ) & that hydrocarbon shows " are very encouraging "
I haven ´t ruled out Edwards yet, let alone Sligo despite Couch ´s view that Edwards is too tight to produce.
Sligo is very interesting - extra 2500ft casing used which is tres expensive. Several thin shows of gas already announced.
The upper Hosston formation has a wonderful lithology - 80% Sandstone & only 20% shale. Just perfect for flow under pressure. The game is afoot !
You pays your money & .......................
 
SUGARLOAF-1, PRIMARY TARGET- WIRE-LINE LOG INTERPRETATION
​
[font=Century Gothic,Century Gothic]Adelphi Energy Limited advises that wire-line logs were successfully run over the open hole section of the Sugarloaf-1 well between 16,998 feet (5,182 metres) and total depth of 20,896 feet (6,371 metres).

Interpretation of wire-line logs over the primary target indicates that an aggregate of 90 feet (27.4 metres) of potential reservoir are gas saturated and may be capable of commercial production after fracture stimulation.

Based on the log interpretation and the gas indications obtained while drilling, the well participants have elected to run and cement a production liner, fracture stimulate and test the zones of potential interest. The total cost of these operations is estimated to be US$2 million.

By 6am Texas time on 3 December 2006, the production liner was in the process of being run to total depth prior to the well being prepared for temporary suspension so that the deep drilling rig can be released.

Preparation of the well for fracture stimulation and flow testing will be carried out with a smaller work-over rig. An update on the timing of the fracture stimulation and flow testing operations will be provided when the equipment has been contracted.

After the primary target has been tested the joint venture will make a decision on production testing the shallower carbonate reservoirs previously identified as potentially productive.

[/font]
 
for me it changes everything,,

up until now i was happy with the austin, and a touch impatient on the JVP's not releasing any wireline info or being more candid regards their potential, all we have there is off market info and a lot of proposed wells... but no real data..

To see them invest a further 2 mill on the fracing and workover says to me they are a whole lot more serious about the sands than ever before.

The wireline must have supported possibilties of productive numbers,, i am guessing but i assume the porosity must be at the 5% level and permability is unknown and nothing has been declared about the wirelines..

I must say for the first time i really am seeing the hosston sands as potentially a commercial proposition, before i was just dreaming it and wishing it,, with each week more and more positive remarks coming from the anouncements and presentations,, now i am definately 60% a believer in the sands and 100% on the austin chalks.. as for sligo and edwards???? I am not writing them off the same as flintoff, i think sligo has something, edwards is perhaps tight but not spoken about in any presentation..

today will become interesting,, my feeling is that less will be turning their backs on the share and perhaps a few more may begin to sense something???

i wont say i hear the elephants stomping, but i think they are gathering in the mist!!
 
well well well! I must say confidence would have to be up after this announcement! Hosston is looking good, and to go ahead and invest $2m is a very good indication. Porosity must be ok and fracing such a deep well is not uncommon, so I am very confident indeed. I agree with Agent m on this one... Austin looking definite and perhaps the sligo has a bit of a surprise in store?? Not too sure edwards was that flash but should be good times ahead.
 
Sounds positive to me, cant see them spending another 2 million without good reason to. Guess we wait now. Nice to see EKA hitting more oil on bismil too.
 
SPUD OF ILSE-1 WELL

NEW TAITON PROSPECT
​
Key Point
​
Antares Energy is pleased to announce the spudding of the Ilse-1 well at 12:00 hours on 1 December 2006 (local time). The well is anticipated to take 60 days (on a trouble free basis) to drill to the anticipated total depth of 17,300 feet (5,270 metres). Antares has a 25% working interest in the well.
​
Background
​
The Ilse-1 well is the first well to be drilled on the New Taiton prospect which is located in Wharton County, Texas, approximately 100km southwest of Houston. The prospect is a welldefined structural play targeting Wilcox Meek, B and C sands at a depth of 14,000 to 17,000 feet (4,270 metres to 5,180 metres). It is situated some 10km from, and on trend with, other existing fields which typically produce 5-7 BCF of gas per well from the same reservoirs being targeted at New Taiton.

The New Taiton prospect has mean potential reserves of 40 BCF of gas and an upside potential of 85 -100 BCF depending on how many of the stacked sands contain gas. The prospect is a robust trap clearly defined by 3D seismic and exhibits strong seismic attributes that correspond with the mapped structural closure. A field of this magnitude is likely to require multiple wells.

The joint venture partners are as follows:

S. Lavon Evans, Jr., Operating Company, Inc. (operator) 30%

Antares Energy 25%

Adelphi Energy Limited 25%

Index Oil & Gas (USA) LLC 10%

Private USA interests 10%

Antares' dry-hole cost exposure is expected to be approximately USD 1.2 million, with an additional USD 0.4 million if the well is completed for production.

Mr. H. McLaughlin, Managing Director of Antares said:

“We are very excited that the Ilse-1 well has finally spud. This is a relatively low risk prospect with multiple potential gas horizons. We anticipate this well to take about 60 days to reach TD on a trouble free basis. ”
​
 
Extract from Updated Shareholder Presentation:

"Shallow targets with mean 12mmbbls & 27BCF potential
(pre drill).

Potential pay zone of 28 metres intersected in shallow
section of well. Successful testing could significantly
increase reserve potential of shallow zone."

This is way the most upbeat comment by ADI to date on the drill.
 
very bullish shareholder presentation has been posted. Especially considering how much they have been playing everything down to date. Conservative share value of $5+ with upside up to $13+.

Interesting to see they are sticking to their guns with 800BCF on primaries and indicating the secondaries as being much larger than anticipated. Also contains some nice charts and good operational info. Condensate in the secondaries indicated too.

Interesting how new tiation is always referred as "low risk". Must be almost a sure thing to be able to give it such a title.

cheers
 
i see the .80 on the austin chalks as the very least they will get..

.60 is great value,,, jump on if you like the stock but if your selling DYOR as i think each announcement from now on has the potential to add value upside to the sp..

I think there are a great deal of people buying today not because they think its a valueless share, but for the potential that the share can be.

As a long term buyer and holder of the stock i wont be letting go until we achieve the value the stock is able to get, and for a bullish outlook on the primary that we today, and the beginning of the JVP's finally letting the market know the secondaries are worth way more than the .80 they started saying it was worth..

wont be selling for some time yet and will hold for the $5 value..
 
hi agentm

IMO they needed a BIGGER result in the P.T..

90ft doesn't leave much room for any downside on porosity & permeability.

i do think the share price is worth much more than 60cents though..

regards
 
hey sandy,,

dont forget the austin chalks mate!!

i wonder if john campbell is still telling his followers to sell still??


its now a real case of reading between the lines and really understanding what goes on in the decision making processes..

Going ahead, means you are looking at commercial flows,, stopping, means that no matter how much you fraced, best case senario you wouldnt get commercial flow..

dont worry about size of plays anymore.. things are not as they have seemed before, as boundaries have changed and now the 2 million is coming in on the well and the flow testing is being done for very very good reasons..

if your unsure how its done, look it up, but the fact these guys are doing flow tests means something,, it actually means a great deal of something..

just wait a few weeks. you will begin to see how very gradually the market will awaken.. no elephants announced yet.. but i begin to hear a few trumpets!!

no need to keep the faith in this share, no faith or prayers needed now, its down to commercial reasons to do things as whats been found has been found, and what they are doing is not to find anything anymore, but to make money from what they have... and today you were told how they intend to do that.

a good investor will know that and understand that and the sp is never is going to go south from this day on in my opinion!!
 
hi agentm

my money is on the shallow targets & N.Taiton..

only playing with approx 90ft in the P.T plus the gas readings from P.T have been pretty average, not sure how much more they'll get from fraccing..

if they get a trickle of gas from the deeper target it wont make much of a difference..

regards
 
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