ADI - Adelphi Energy

good pick broadside...

15,581 feet... they knew it would be slow going.. didnt expect it to be that slow..

lets see how many are prepared to sell the stock off now!!!

go get them maverick!!!!

Well nothing spectacular have slowed down a bit but at least it seems trouble free.

Agentm said:

nervous day traders..


i have a position on this stock,,, and i dont sell till the fat lady sings.

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I agree But I did pay too much today. My average price is still good as I have held them since the start and have bought along the line. They are my stock pick so I hope the well is finished this month. I am still worried about spin doctors and insider trades.

hey nokia..

timing the market or time in the market?

i aint going to change my position on this stock.. i look at the people running the show.. then at the research... 80 square KM's or 20,000 acres of the best oil producing land in the world.....

within 30 km radius of sugarloaf was Pawnee and Fashing they produced around 5TCF gas and 100 MMBBLs oil.. In the Edwards and Sligo..

only recently have the Austin chalks to the north have become noticed.. and texas crude has deliberately kept thing quiet about that play...

We have yet to get to Sligo... and Hosston is after... Couchy said Edwards was too tight... and EME directors said dont believe Couch oils summary,, could be jumping the gun a little. and to not believe everything that you hear about that... Austin Chalks were productive, gas and oil shows,

What no one figures here is that the Austin Chalks were kept quiet,, no estimates have been made for them.. The estimates were on Edwards Sligo and Hosston... so we have Austin as a success and Edwards as being debated,, one says maybe the other says it looks tight..

Sligo is about to be drilled... and that region is proven to be productive within 30kms.. In my books thats 2 out of 2 and the third is being drilled..

So they cant announce that they have massive plays,, but they havent announced that nothing was found!!!! so if you follow the rules of engagement then you cant discount Austin chalks, and definately cant rule out edwards.. neither have been denied and they certainly have been confirmed..

so why would you sell???

the ones selling aint got a clue about the stock.. they are speculators and day traders,, they dont hold a position and do things their way...

Nothing will let me sell the stock i hold,, and i didnt accumulate for nothing!!

do the sums,, do the research and you can see that this drill is only one thing,, a fine example of success... 2 out of 2 and one find was oil rich according to couchy.. remember the 100 wells statement... so potentially .60 cents plus on the share value there alone???

I am confident as you well know,, others are teetering and nervous as they dont have the confidence in their research,, or their research is based on other ideas...

I wont ever disclose any information i found in my conversations with ADI and ARQ over the years,, but when you look at a company with all its directors owning 5% of it, you have to wonder why they are not selling right now!!! because its absolutely insane to sell right now when they are drilling into a proven play smack in the middle of one of the most productive belts in texas, and with 2 plays allready in the bag...

let the doubters bail...

cheers.. and for all new investors.. good luck to you all..

Agentm said:

good pick broadside...

15,581 feet... they knew it would be slow going.. didnt expect it to be that slow..

lets see how many are prepared to sell the stock off now!!!

go get them maverick!!!!

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there is actually a silver lining in the slower drill rate, it means the Sligo target has not yet been hit and still has potential : located just above primary target I believe....I tried to post this on HC but they seem to be having issues at the moment

No problems at all here - they predicted MID to LATE October for hosston (or is it hosson ??)- 11th is barely mid.
You wont catch me selling this yet. When they get there it will jump and we'll all be jumping with it - jumping for joy. :

(IMHO)

satisfactory formation integrity test..

when you research about them, you can draw at least two conclusions aabout them and what they are used for.. one is for testing the inegrity of the casing,, the other is high tech and very modern mapping that is done post wireline logging to get amazing detail whats happening in the zones of interest.. now which one did they do????

10th OCT 2006 15,581 @ 6AM texas time is 9PM Melb time same day

480 feet per day at that depth.. 20 per hour is the average expected rate if its problem free...

so at 9AM melbourne time today they are at 16301..

at 9PM tonight they will be 16,541

at 9AM tomorrow they will be 16,781

at 9PM tommow night they will be 17,021

So all of Sligo will be totally drilled by end of trade tomorrow,, then we will have to look at London for any further updates through friday night until Saturday morning

9AM sat morning melb time, and a few hours after the close of the LSE they will be at 17,261

so its getting nearer by the hour..

cheers

Agentm said:

10th OCT 2006 15,581 @ 6AM texas time is 9PM Melb time same day

480 feet per day at that depth.. 20 per hour is the average expected rate if its problem free...

so at 9AM melbourne time today they are at 16301..

at 9PM tonight they will be 16,541

at 9AM tomorrow they will be 16,781

at 9PM tommow night they will be 17,021

So all of Sligo will be totally drilled by end of trade tomorrow,, then we will have to look at London for any further updates through friday night until Saturday morning

9AM sat morning melb time, and a few hours after the close of the LSE they will be at 17,261

so its getting nearer by the hour..

cheers

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think that rate is too high Agent M, they did 1000 feet last week, I would halve that rate of progress, it was that rate until the past week but they have slowed down...it's all good anyway

i went by info from other site... ie drill rates reportedly announced by EME to investors and brokers last week..

i was assuming 24 hour drilling and assuming 20feet per hour was about as much as you can get at these depths..

anyone heard any from anywhere what sort of rates per hour they can get? is 20 too high per hour at these depths?

sorry to all, if i am confusing or putting out wrong figures.. i was trying to second guess where they may be and just posted what i had found..

cheers again...

you may be right Agent M, and perhaps the "integrity testing" held them up somewhat, the integrity test produced "satisfactory" results, quite intriguing...the true rate probably lies between our 2 figures...say 12 or 14 feet per hour I also read 20 feet per hour previously, I am just going on the latest weekly report where they slowed down. So I think Sligo must be within the next few days and as they say yesterday top of Hosston towards end of month.

Im sure we will get an update between now and the weekly update telling us how the sligo formation has gone if we dont well it may mean that they have encountered drilling problems which they woulod tell us on there weekly update.
I m more than confident that drilling is going well and the sligo formation will be a success

OK.... its time to get things straight,,

ARQ just posted an annoucement,, Euroz conference presentation..

As you may know,, they always include ADI drills in their presentation..

http://imagesignal.comsec.com.au/asxdata/20061012/pdf/00655868.pdf

This is their spin..

"Shallow objective appears economic - requires testing"

then

"currently in the 2500 foot thick Sligo secondary objective. Another 10 days to the Hosston"

Well i am stoked!!!!

they confirm the Secondary find appears economic...

so you cant possibly take a loss on the stock at the price its at... its yet to price in the value of the secondary find.. so its now an absolute winner...

as for my 20 feet per hour,, i am way off.. 10 days they say!!!

watch them take off now.. I know the directors at ARQ are pretty good in their understandings of the business,, Eric has many years in the industry and is well respected.. I back his opinion any day on this!!!!

Cheers

Agentm the info legend well as you say we cant lose now surely it seems a winner thru and thru well done ADI

Evening from Uk, Morning Aussies, well England got stuffed at soccer yesterday 2 v 0 against Croatia, useless, I guess our cricket boys will have to retain the Ashes.

Anyway back to Sugarloaf, I posted a few days earlier, I own about 30,000 EME shares we have a 6% stake in the project, EME price moving up well on the back of this however there will be some built in for Eagle but this in my opinion is 70 - 30 in our favour and been going for some time with drill problems.

I am impressed with the operators Texas Crude and looked at what was the best way of increasing my stake and I think Adelphi with a 20% stake is the best bet, our market is shut now however I can buy first thing in the morning so I will probably pick up between 30K to 50K to start with tomorrow, be interested to see the trades overnight and what you people think of the potential, I have read the posts but a little puzzled as to what you think your price may go to, I am not a trader so will not be selling until full potential except may top slice.

Shame they had to take down Couch, have we got any other information on progress other than normal updates, I was thinking in the states where it is being drilled.

stewart3250 said:

Evening from Uk, Morning Aussies, well England got stuffed at soccer yesterday 2 v 0 against Croatia, useless, I guess our cricket boys will have to retain the Ashes.

Anyway back to Sugarloaf, I posted a few days earlier, I own about 30,000 EME shares we have a 6% stake in the project, EME price moving up well on the back of this however there will be some built in for Eagle but this in my opinion is 70 - 30 in our favour and been going for some time with drill problems.

I am impressed with the operators Texas Crude and looked at what was the best way of increasing my stake and I think Adelphi with a 20% stake is the best bet, our market is shut now however I can buy first thing in the morning so I will probably pick up between 30K to 50K to start with tomorrow, be interested to see the trades overnight and what you people think of the potential, I have read the posts but a little puzzled as to what you think your price may go to, I am not a trader so will not be selling until full potential except may top slice.

Shame they had to take down Couch, have we got any other information on progress other than normal updates, I was thinking in the states where it is being drilled.

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Sorry about the soccer and don't hold out
Too much hope in retaining the ashes either. I hope we all win with ADI.
There is not much news on eagle here from the aussie partners of which I have an interest. Can you help there?

Well you left your run late..

ADI is rising and AUT is also.. EKA is up 17% already!!!!

You can expect $6 out of Hosston,, and .60 and up for the secondaries...

As ARQ confirmed the secondaries,, and with couchy telling all about how well it went,, the share looks good value to me..

Hope you get a good price..

cheers

Agentm said:

Well you left your run late..

ADI is rising and AUT is also.. EKA is up 17% already!!!!

You can expect $6 out of Hosston,, and .60 and up for the secondaries...

As ARQ confirmed the secondaries,, and with couchy telling all about how well it went,, the share looks good value to me..

Hope you get a good price..

cheers

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The way things are going AUT may be a better buy than ADI. They have another interesting well going at the same time. I have bought more of both today.

nioka said:

The way things are going AUT may be a better buy than ADI. They have another interesting well going at the same time. I have bought more of both today.

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Interesting thought although i'm too greedy so all the way with ADI.dyor.

Hi Everyone, just found this article re Sugarloaf in Petroleum News. Nothing new I don't think but a good read.


Sugarloaf makes gas discovery: Aurora

Monday, 2 October 2006

WIRELINE logs suggest the Sugarloaf-1 exploration well in the onshore Gulf Coast Basin in Texas, has encountered a 92 feet (28m) potential gas zone in a secondary target Cretaceous aged carbonate formation.



Junior partner Aurora Oil & Gas told the Australian Stock Exchange that while the results were encouraging, there was a risk the zone may not flow at commercial rates.

Its commercial significance will be determined by flow testing, which would only take place once the well has reached a planned total depth of 21,000 feet (6400m), expected in mid-November.

On Friday, the well was at a depth of 14,480 feet (4413 metres), where a 9-5/8 inch intermediate casing was being run before drilling restarted in a 8-1/2inch diameter hole to the primary target, expected between 17,000 feet (5182 metres) and proposed total depth of 21,000 feet (6,400 metres).

There is a further secondary target in carbonate rocks between present depth and just above the primary target.

Assuming trouble-free drilling, the primary Hosston Formation target, which has the potential to contain about 800 billion cubic feet (Bcf) of gas, with upside potential of several trillion cubic feet, is expected to be reached in mid to late October.

Seismic interpretation suggests the top of the Hosston will be intersected at a depth of 17,000ft. The potential also exists for several different sandstones to be developed over a gross 4000ft thickness.

Sugarloaf-1 partners are Texas Crude Energy (operator with a 41.5% stake), Aurora (20%), Adelphi Energy (20%), Eureka Energy (12.5%) and Empyrean Energy (6%).