ADI - Adelphi Energy

[Dukey]

Tumbling today - now 53.5
Market doesn't like NT update either. Possibly looking to deepen the well depending on logging results. What does that imply??... anyone. You could take it as positive - meaning - they think there is more gas a bit further down. OR negative - ie. They don't have enough from what they've drilled so far... Which one is it??

 

[Dukey]

Continuing from last post ......
Or you could ask of NT - why did they stop 300m short of the original target depth... was it because they already got what they wanted ?? or was it because they didn't think it was worth drilling??
For NT - I tend to think (and hope) its the first answer... but wish I knew for sure... any ideas folks?
Holding on ...

 

[maverick11]

We were wondering the same thing. It's very ambiguous, and no details about the gas shows. It's easy to get frustrated with this mob's crappy reporting techniques.

I too am holding

 

[Agentm]

Ok.. i see adi is the share to dump, and the reaction to the share after the fracing couldnt achieve commercial flow is all but predictable.

The sp has tanked, and is a great buying opportunity, as much as the sp is falling there are always buyer prepared to absorb the shares, so many see great value in the share, perhaps the ones who have better understandings??

NT is not putting out any bad news, we are aware of the 70 feet of elevated gas shows, they are now going to investigate the well with some wirelines, lets hope that next week we hear some great news.

SL, the frac crew is gone, they have plugged the lower hosston and they now set up a fracing program for the upper, with different geology and different type of fracing operations they will devise a program for it and get on to it as quick as they can.

remember that the secondaries are the best potential gas shows, which was clearly stated in the last report, they have a continued bullish sentiment on the secondaries.

i still see the sp as great value, in a few months the whole picture on all operations will be very evident, adi sp wont be anything like todays prices once the secondaries are revealed. adi have been open about their expectations on the secondaries throughout, and kept a very tight lip on the primary so as to not generate false hopes. the markets reaction today to the share is little comfort to all holders, but i remain with my plan i always held, to see both nt and Sl to the end then reevaluate..

 

[resourceboom]

Continuing from last post ......
Or you could ask of NT - why did they stop 300m short of the original target depth... was it because they already got what they wanted ?? or was it because they didn't think it was worth drilling??
For NT - I tend to think (and hope) its the first answer... but wish I knew for sure... any ideas folks?
Holding on ...

At a guess, I'd think the lower section was not worth drilling. If its any consolation I thought this was a secondary target. The primary target was where they had the elevated readings!!

 

[Agentm]

re NT .... there is no cause for alarm, they are wirelining the well to see whats down there, they have 70 feet of elevated readings and shows, they obviously need to do what they are doing to get understandings of what they are getting indications of at the surface..


SL is as they announced..

The most significant gas indications in the well were obtained in Cretaceous carbonates above 14,000 feet, where gas shows during drilling and wire-line log interpretation suggest the presence of potential gas pay. The timing for testing of these indications will be advised as soon as possible.

now adi doesnt need to say that, they only need to say they are testing the secondaries, and nothing else,, why are they saying what they are? they are handing you a huge hint that they feel the secondaries have what it takes as a gas find. The lower regions, never had a bullish hint about it, but the secondaries have it written all overit, pull up any report about the secondaries, any presentation, any quarterly, and its usually mentioned in a very bullish way.

couchy was talking stampeding elephants on the secondary, and now they finally will be fraced and flow tested once they get the processes in place, the crews, the equipment and the planning will be done as methodically as the other aspects of the well.. seamless and efficient.

i have concerns just as any other holder, but i dont forsee doom and gloom, i think adi has many plans for the future, and i believe many prospects were held off on knowing the outcome of the primary, i imagine many things will now be fast tracked, and the exciting prospects adi that have been mentioned in quarterlies and even in ARQ presentations will presented to the market in the near future.

buying prices today are great value and very very tempting

 

[INORE]

Agree Agent M...I think the Sp has now reached a very attractive price. I allways compare the SP's between ADI and AZZ...normally there is little between them and ADI is more often than not trading at a higher SP. I beleive even a modest commercial gas flow on either Sugarloaf or New Taiton would escalate the SP. AZZ have been in oil and gas a long time (previuosly in Turkey under Amity) and have a good grasp of the business. I am very happy that ADI is in a JV with AZZ.

 

[Agentm]

i know people speak highly of AZZ.. i think they have the structure of a good business, and the way they do things today is creating success on the drill.

ADI was structured primarily as a high risk high return company. until NT all wells had a very high risk profile, the onlyone that fell lower again in risk profile was the secondaries at SL, when they became evident to the JVP's they all bought into them big time, it was following a known play near by and from all accounts they struck it big!!

My view on NT is that they have some nice shows to follow up on. I have spoken to adi about the well and got the understandings i needed as the announcement appeared to suggest they had nothing in the lower primary, i cant comment too much on their reply to me, but i think the reasoning for them to wireline is very very sound, i think things may not be entirely as people percieve, and i am speculating the wireline results may be quite unexpected to the market in the positive slant. i think the NT well is promising and showing all the signs of potentially being tested perhaps and flow tested, but the wirelines are ultimately the precursor to making that call.

SL secondaries is being speculated upon by many as being potentially commercial. ARQ has stated this as well.. I tend to believe the hype on this one and from this point on, any reports, be it the actual wireline logs themselves being declared on the market as promised after the testing of the primary, or some positive news on the frac crew and timing, we will see significant effects on the sp..

 

[Lucky_Country]

http://www.couchoil.com/daily1.asp

 

[Agentm]

so gawler resources, a uranium expolerer, nothing to do with the oil and gas game who's directorship includes this guy

Matthew Sheldrick is a Chartered Accountant and spent 10 years in the securities industry, advising domestic and international institutional clients on Australian resource equities. He was most recently CEO of ASX listed Eureka Energy Ltd.

they buy into AUT some 14,000,000 shares..

interesting!!!

do they know something???

 

[kevro]

Hi Agent M, I believe that is to do with the proposed sale of AUT's share of the High Island gas project to Gawler Resources. Ref ann 23/02/07. I may be wrong

 

[nioka]

Hi Agent M, I believe that is to do with the proposed sale of AUT's share of the High Island gas project to Gawler Resources. Ref ann 23/02/07. I may be wrong

Read through the AUT announcements for an explanation of the relationship between AUT and Gawler

 

[Agentm]

ok, i get it now,,

Gawler has an EKA director, and they do a deal with AUT..

cheers

plenty of selling today, but with the wirelines for NT about to announced, i hope its not a leak and people are bailing on the news...!!

AZZ has not seen a sell off so it maybe other reasons for the bailout..

i still anticipate good news on NT, in light of lower risk profile..

if NT gioves out bad news i imagine the sp will get another good drop...

 

[Sniffer]

so gawler resources, a uranium expolerer, nothing to do with the oil and gas game who's directorship includes this guy

Matthew Sheldrick is a Chartered Accountant and spent 10 years in the securities industry, advising domestic and international institutional clients on Australian resource equities. He was most recently CEO of ASX listed Eureka Energy Ltd.

they buy into AUT some 14,000,000 shares..

interesting!!!

do they know something???

You bet they do.
My post from 10/02/07

I lot of uranium was mined in that area of the US during the 70s and 80s. Any chance they found more that oil and gas in that hole?

 

[INORE]

http://www.couchoil.com/daily1.asp

Sugarloaf – Hosston – 1st phase a success

We have dug the well to 14,480’ and logged the upper sections.

Well was trying to flow back gas during the logging operations.

The Austin Chalk zone from 11,925’ to 12,200’ looks very oil productive. The log results may set us up to drill over 100 wells in offsetting lease (26,000 acres) to just produce the oil from that zone. The porosity is just about double from what is normally found NE of our well location. Some folks have successfully produced with as low as 3% porosity. We have 9 to 12% porosity.

The Edwards is from 12,275’ to 14,000’ looks tight or too dense to produce.

The Sligo formation begans about 14,500’

The Hosston (Objective) begans at 17,000’ Planned total depth is 21,000’.

This morning they are running 9 5/8” casing to 14,480’




IJH
Did couch oil used to be in the JV? Why did they report on this hole?

 

[nioka]

You bet they do.
My post from 10/02/07

I doubt if it has anything to do with Uranium. More to do with spreading the cost and the risk. One of the reasons I have come out of this so far is by spreading the risk and trading back and forth between AUT and ADI depending on changes in the ratio of price between the two. My current ratio is 2 Aut to 1 ADI. I am considering again reversing this for the third time. I still think Sugarloaf will produce and there will be other wells on the same field which will be financially beneficial.

 

[Lucky_Country]

Sugarloaf – Hosston – 1st phase a success

We have dug the well to 14,480’ and logged the upper sections.

Well was trying to flow back gas during the logging operations.

The Austin Chalk zone from 11,925’ to 12,200’ looks very oil productive. The log results may set us up to drill over 100 wells in offsetting lease (26,000 acres) to just produce the oil from that zone. The porosity is just about double from what is normally found NE of our well location. Some folks have successfully produced with as low as 3% porosity. We have 9 to 12% porosity.

The Edwards is from 12,275’ to 14,000’ looks tight or too dense to produce.

The Sligo formation begans about 14,500’

The Hosston (Objective) begans at 17,000’ Planned total depth is 21,000’.

This morning they are running 9 5/8” casing to 14,480’




IJH
Did couch oil used to be in the JV? Why did they report on this hole?

My understanding is Charles Couch is included as a private partner in TCO percentage of SL

 

[Agentm]

couchy is a private investor,he posted all his well info on his website, after that infamous post he was told by TCO to shut it down..

couchy investors then got their info via emails.

yes the information sounded brilliant, and to my knowlege there is nothing in the couch report that isnt correct, the JVP's have not confirmed what couchy posted, but all reports from all jvp's is that the secondaries are brilliant.

remember 3 km from SL there is a oil and gas play in the chalks, and its been said the SL intercept was the the same play by EKA on a report last year to the ASX..

so I see it as an opposition player announcing oil and gas discovery on the same play, couchy announcing the same thing, then being censured, and the JVP's saying absolutely nothing about the oil.. but adi announcing 2 wells instead and arq shooting its mouth off about it being commercial..

in light of that i have little reason to sell, regardless of the oil being there i have invested in the belief its a major discovery in the making.. bring on the frac testing..

 

[Kauri]

couchy is a private investor,he posted all his well info on his website, after that infamous post he was told by TCO to shut it down..

couchy investors then got their info via emails.

yes the information sounded brilliant, and to my knowlege there is nothing in the couch report that isnt correct, the JVP's have not confirmed what couchy posted, but all reports from all jvp's is that the secondaries are brilliant.

remember 3 km from SL there is a oil and gas play in the chalks, and its been said the SL intercept was the the same play by EKA on a report last year to the ASX..

so I see it as an opposition player announcing oil and gas discovery on the same play, couchy announcing the same thing, then being censured, and the JVP's saying absolutely nothing about the oil.. but adi announcing 2 wells instead and arq shooting its mouth off about it being commercial..

in light of that i have little reason to sell, regardless of the oil being there i have invested in the belief its a major discovery in the making.. bring on the frac testing..

Is the report really from Sept 29 last year??

 

[Agentm]

couch reported weekly, so it was posted then, i saw it then a short time later the jvp's went nuts and tco went nuts and couchy was told to pull his head in..

couchy has never had a quality well on his books, so he was unable to contain himself when he saw the wirelines..

no further news after that from him..

wont be long before the wirelines from NT come through..

good luck to all holders there!!