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ADI - Adelphi Energy

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All seems too be dragging on a fair bit now with no real insight too whats really going on.
Just want too know 1 way or the other but am still fairly optomistic just getting tired of all the secrecy and cryptic clues after all it is my money in the balance
 
I'm with you Lucky_Country, i got in at 86... hmm think I might have done my dough for now... now I hold this one long term. Next time, I must remember to sell when stocks go down..
 
megla said:
I'm with you Lucky_Country, i got in at 86... hmm think I might have done my dough for now... now I hold this one long term. Next time, I must remember to sell when stocks go down..
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I still think we will get some positive results soon but in what time frame im not sure. Just dont like the uncertainty but when investing in oil and gas it is too be expected. Hopefully its all a good sign the longer it takes and when we do get the results they are complete and thorough.
 
Based on the potential, is this now an undervalued stock? If so, I might dive in a bit deeper...
 
the secondaries are considered as being highly prospective and there are very strong indications they can be considered as being potentially commercial by most holders, you have to understand your own risk profile to make decisions to top up.

adi are due to announce the wirelines at NT, so we will find out how prospective the gas shows they had were.. they have announced the shows up the well may have potential already.

the rig has been less than reliable and todate we have seen massive delays, the wireline results should have been out by now as they were done last week.

i would prefer if wireline news was to be announced today..
 
Something positive at last. NT has reached provisional TD and is flowing gas continuously... so much that the drill string can't be pulled yet. That can't be bad? I know this is only a small well but anything is good for ADI's sp given the recent slump. Holding nicely around 48-50c for last couple of days though. If this is as low as it goes then I'm not too unhappy... NT and the SL secondaries should pull this one back to respectability (hopefully!).
 
At least NT is flowing too much gas for the wirelogging to take place. That must be a positive.
 
megla said:
I like to take chances
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So do I,but only when the odds are well and truly in my favour. Never with borrowed money, which I suspect a few investors in ADI have done. Only after doing all the research I can. Remember if the odds are 10 to 1 then there is probably 9 chances of failure if it is a straight gamble.
 
NT too much gas pressure too even WL that must be a real positive .
SL well we need some info on when the testing of the secondaries will be started
 
i fail to see any downside to the current NT problem, i think the latest action as a continuation of the reason for them stopping the drill short.
 
hey blues, its not ignorance.. its really a case of limited info..

i would say with the massive mud weights they had that they couldnt get any idea about what it was they were seeing, so they decided to stop short, and wireline then after that recommence drilling. i would say all the shows and elevated readings were difficult to understand, with mud weights obviously at their max, and it sounds like the gas pressure problem, which they had, has now increased and esculated to the current situation, and now the drill string is becoming a problem with the gas that is circulating around the well..

they are loking for a solution to make it safe on the deck, you cant have uncontrolable gas flowing up the well..

we need maverick to input something about now!!

still having trouble seeing the downside here
 
Sounds like they are having to battle massive gas pressures and flow already - and they haven’t even frac’d yet!….so I see this as very good news indeed.

To establish equilibrium means they have to increase the density and pressure of the drill mud to stop the gas from entering the bore hole (an overbalanced well). If gas enters the borehole they can get kicks and blowouts which is very dangerous. The problem with increasing the mud pressure & density is this could also damage the borehole mainly by invasion, which means the drill mud enters the formation. This is why they like to line the bore hole…

While they say they may need to line the hole, they may mean a section or the whole thing – and it’s more out of safety for the rig and the well hole. I’m not entirely sure how they log with the casing in place, but normally the techniques they use are radiofrequency and nuclear magnetic resonance, etc so a liner would be of little consequence imo. As for gas shows, they would already have a good clue from mud logs during drilling. Often the drill bits also have a log device built in to them.

I'm no expert so this is all IMO but I hope it helps explain ("decode") todays news. I would think the JVP are weighing their options and with their experienced management team, I'm relaxed they will make the right move.
 
i think what your saying maverick makes sense to me..

the bit i cant understand is how an insignificant announcement of elevated gas readings can suddenly become a well that they have lost control of.

I understand the next processes taking place now are going to get them the control back, and granted they are professional enough to achieve that, but AZZ and ADI must understand the confusion they bring when one day they have a tiny elevated gas reading and the next they have complete loss of control of the well.

Regardless of bagging the operator, all things far down and deep must be complex and extremely difficult, not every well achieves a flawless run like SL did, i remain perplexed why the inability to control a well is not considered as a step toward a positive indication of some success in the drill...

does anyone have the stats on how many wells are later decalared dry or uncommercial and abandonded after they have had operators loss of control on the pressure or have blowouts?
 
Agent M...perhaps the reason could be that an uncontrolled/unchoked flow of gas may lead to formation damage....
 
your right,, they dont want to risk that, but i wouldnt have thought the risk of that happening is that high. I would imagine the operator would be familiar with loss of flow and gas kicks..

sounds like a gentle retreat then they case or line it, then wireline and then frac.. i am guessing the idea of drilling further at this point is out of the question. would they sidetrack?

regardless of the issues, i tend to think the inications are they have potential to generate commercial flow.
 


i showed disrespect to yogi, and after re reading the predictions i would say the above is basically spot on.

my apologies to yogi.. i am deeply humbled and will not doubt you again..

are you god????
 
i feel we have a lot of reasons to believe the sp will be booming way before dec 07..
 
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