ADI - Adelphi Energy

[Agentm]

re the leases, i didnt know about the leases being signed up last year, i guess thats news you have from somewhere, but the jvp's are pretty closed shop on that subject.. i dont know what levels the pawnee fields have their leases signed up at, the play in the secondaries at SL is the chalks, you would have to enquire both with pioneer and with the jvp's about what leases are signed up for what levels and with what landowner.

let me know what they tell you..

NT is going great, obviously the data they have and comparing it to other fields has given them very upbeat feelings towards the well. They are certainly speeding up the testing there..

 

[chance fate]

Dropped ADI an email today asking them to advise when an announcement concerning SL shallow targets will be forthcoming and if there's no intention in the short term why it is not considered to be a priority.... will let you know the response if any....

 

[Agentm]

i have a feeling i know exactly what the reply will be.

i see aut issued appen 3B declaring about 2mill more shares, now 162mill shares, and their sp went up as much as 10% today.. adi has less than 50% of that, 70mill shares

today adi announce they are trying to to a deal as to hook up NT onto a pipeline and the sp goes up 3%!!!

come on alex, give yourself 2 mill shares and watch the market boost the sp up!!

 

[HRL]

Hate to be a wet blanket but I refuse to get excited about this one until they are pumping the stuff out of the ground. The note about hooking a pipe up to NT is certainly good news but then NT was the low risk play for ADI. If they stuffed this one up their credibility would really be in the toilet... not to mention the sp. NT should be a no-brainer according to the company presentation last year. The SL secondaries are still were the excitement is for me.

 

[Agentm]

well if you want stuff ups, the NT is one case in point, ADI was not the operator, but the delays were astounding, and with them being unable to drill because of loss of control of the well, it means 300 feet of the second primary is not yet drilled. but adi are not responsible for that. the word i hear about nt is not at all negative, the well may yet give you a nice bonus once the testing results come through. i dont really mind the value of NT coming into the share price, but currently its not a factor in the equation.

Sl is the ducks guts for me too. and looking forward in the coming month or so to hear about the workover rig and the frac crew coming on site. lets see how patient the holders can be on this one..

 

[chance fate]

yeah agree with you hrl.... NT is worth a few cents and wouldn't get too worked up 'til there's proof of commercial potential...offtake is secondary concern i.e. a certainty as demand is so strong and infrastructure close by... re. SL shallow... just re reading Hartleys report end-06 on ADi web site... they're pretty bullish on them - they also state that testing would take place at a later date if Primary tests proved unsuccessful... so i'm not losing hope yet....

 

[maverick11]

I'm still sitting, holding, accumulating, while the JVP acquire more land..

SL is going to be the bee's knees, i agree. I might order my new M3 in space grey i think. Oh, some nice news today on NT. Kind of interesting to see them inferring commerciality before they have even tested. Those gas kicks must have been fairly substantial and of commercial nature alone. Although they obviously can't say that to the market without official data. Now it's a simpy a matter of following the book and bringing in the rig; perforate the casing; fracture the wellbore and let her rip.

 

[chance fate]

oh...yeah...that might be a reason... they're trying to acquire adjacent acreage.... but if so then they'd need to advise the market of their intention.... and haven't ... so for the time being for me that's ruled out....

 

[Agentm]

they had a significant show according to AZZ in their quarterly report the other day,, 70feet @1000 units.

thats better than elevated gas readings adi posted!!

suddenly they are talking hooking it up as a production well.. bullish.

nice to see you surface again, been digging around the mines again mav??

nice to hear your still accumulating, your showing your confidence is back stronger than ever, i follow your direction there, the sp is excellent value.

just out of interest sake, these readings from from 14,550-14,620 feet, were they wirelined before continuing on? i am trying to remember the sequences..

 

[chance fate]

Response from Alex Forcke.......seems not long to wait for some news....



Thank you for your email and enquiry about our Sugarloaf well.

We are currently awaiting the forward program from the Operator relating
to the design and scope of testing the shallower horizon including the
timing of commencing this test. We will advise the market as soon as
that information is at hand. We anticipate being in a position to make
such a release shortly.

Please note that we are obviously keen to push forward with this test
but at the same time the joint venture wants to ensure that the test is
properly designed and executed to give us the best possible chance of
maximising the results and information from that test.

Regards

Alex Forcke
Executive Chairman

Adelphi Energy Limited
Ground Floor
88 Colin Street
West Perth WA 6005

Tel: 61-8 9263 4600
Fax: 61-8 9263 4688
Mobile: 0417 188 474
Email:
alex@adelphienergy.com.au
-----Original Message-----
From: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Sent: Wednesday, 11 April 2007 12:02 PM
To: Lauren Doust
Subject: Shareholder Enquiry re. Sugarloaf Shallow Target Well Test
Program

FAO Shareholder Relations Manager Adelphi Energy

Dear Sir/Madam,

Following the Company's announcement concerning the completion of the
well test program on the Sugarloaf Deep Targets, there has been no
announcement concerning the timing of the Shallow Target well tests.
Please could you advise when an announcement will be forthcoming. If
there is no intention to make such announcement in the near term it
would be useful to understand the reasons why the tests are not being
pursued as a near term priority.

Many thanks for your anticipated response,

 

[HRL]

Nice work Chance. Fingers crossed for some good news early next week. The announcement yesterday said the progam was being prepared by the operator and available for review in "next day or two" plus another day or so maybe for jvp to mull it over and give us the verdict. Wednesday at the very latest I would hope.

I think AgentM was meaning your private msgs (top right of your ASF screen under your login id).

 

[Agentm]

good response from alex, its exactly what i expected..

with regard to the announcement timing HRL, i think yesterdays announcement with AZZ and ADI over the NT well was saying a frac program was being put forward and being fast tracked, i think they are also fast tracking the pipeline connections as they anticipate great flow from NT.. more news to come from there i feel..

SL testing is not in my mind on agenda for some time yet, i get the feeling they are seriously looking at the testing program in view of getting the best possible result. the chalks are traditionally drilled with horizontal wells, and as this well was a test well, designed to test multiple plays, and vertical, its requiring best case decision to be made on the fracing technique. by alex's emails it sounds like they are still positive on the play, but making the best decision on the well as it cost a damn fortune to drill!! they need to make sure they get a great return on it!

all IMHO and DYOR

 

[HRL]

You're totally correct about ADI wanting to take it slow on SL and get it right after the huge expense they went to drilling it... I distinctly remember the posts here when they approved the extra budget to continue drilling and the confidence everyone read into that.

If you don't mind refreshing my memory (I'm too lazy to go back through all the announcements!) - was the possible 800BCF coming from the secondaries or primaries at SL or was it a combined estimate for both? I seem to remember the secondaries being where most confidence was and primaries the bonus but might be wrong.

 

[Agentm]

from 2006 annual report


Our short-term challenge is to mature a range of high value prospects for drilling in 2007, and plans for this are well-advanced. These prospects are likely to be generated on our existing USA leases as well as from new opportunities from the USA

as for 800 bcf, thats more the figure on the hosston sands..​

now if you think the secondaries are likely to be 100bcf as they have predicted and announced, then your best to sell now as your not going to get any more value out of SL on the adi share..​

the only new wells adi have planned are the 2 shallow wells for 2007.. couch oil 100 wells for all the oil and gas.. i guess if 100 wells is needed for 100bcf you should be selling today because adi will go broke if they had only 100bcf to recover..​

i suggest doing the maths on 100 wells, once your head stops spinning then you start to wonder what on earth is going on in texas..​

according to adi the short term focus is mature high value prospects in 2007, well NT aint that, so it leaves only one well they know about before the 2006 annual report was released.. sugarbaby..​

as i have stated before, not one director share, not a single major holder accross all jvp's has sold a solitary share. only accumulated more..​

i believe they know their stuff and still argue its cant be a coincidence that this is happening accross the boards on all jvp's.. i assume that my investment is still as wise and as secure as it ever was.. surely they all cant be holding for 100bcf?????​

all imho and dyor​

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[Gspot]

Go AgentM!
Well done, no matter what.
I imagine the party will be huge if you turn out to be right.
We just wait and wait and wait

 

[Agentm]

i think the club sugarloaf party will be on, and snorkler will have to come back from the uk!!

 

[tarzanhey]

i think the club sugarloaf party will be on, and snorkler will have to come back from the uk!!

Its not much longer to wait now imo - and hopefully some news of dates will be out soon.


I like a good party - and like all of you have been waiting patiently for it to start, got my ticket - come on sugarbaby lets party!

 

[The Snorkler]

yep Im waiting patiently for the well test lie detector.

Ive certainly learnt a lesson in "risk management" on this well. Though I should know by now!

 

[Agentm]

time to get a fine wine and get well and truely chilled out..

gdn get their day on monday, and i hope they played it right, after the hosston sands i certainly know what feeling deflated is like..

NT news must be close, days away adi said this week, so i expect announcements soon there.

i think club sugarloaf will have a cocktail called "patience" on its menu!!

 

[Lucky_Country]

SL such a long wait with no news this must surely be a good sign although it is becoming increasingly frustrating.
NT hopefully some very positive and decisive news will soon be upon us with a firm and definate statement no read between the lines
SP holding up pretty well and will hopefully rise in the near term with both SL and NT