ADI - Adelphi Energy

flow test results should be pretty quick to come in, however they usually have to let the background frac gas (if using CO2 say) vent/disperse before doing flow tests

posted on hc.

New Taiton is a project that's easy to take a " ho-hum " attitude towards, because of the 25% working interest, and the lack of raz-ma-taz,,, but Garcitas Ranch was about the same, and now has the potential to be a large money earner for the company, with an additional 8 production wells planed..!!

There has previously proven to be a degree of " prediction value ", in looking at the success rates of surrounding wells in the same fairway, and adjacent to the AZZ.....joint venture leases..

New Taiton is of course in Wharton County, and the surrounding wells of interest are owned by two American companys,,,,,Coastal Oil & Gas,,,,,and ,,,,Trans Texas Gas Corp.....Some as close as 10 klm.

Trans Texas Gas Corp:-

Two old wells , 10,300 ft to 11,700 ft. :- One has been producing for more than 2 years and still produces 13mmcf/d...
One new well producing at 15mmcf/d

Coastal Oil & Gas :-

5 new wells deeper at approx 14,500 ft :- Producing at between 6 to 23 mmcf/d..
These wells encountered Wilcox sands at the old original level of 10,300 ft to 11,700 ft ,,, but also encountered 5 additional Wilcox pay sands at the 14,000 ft plus level..!

All of the above wells were " over pressured ",, just like New Taiton.
The over pressure level seems to kick in at around 10,000 ft,,, and increases progressively at a rate of .8 to .85 psi per foot of additional deepth.

A gas analyses indicates that gas from the upper and lower levels are similar in composition,, and contain traces of nitrogen,, and about 2.5% of CO2...
This composition tends to be a bit corrosive , and shorten the life of the wellbore,,, BUT the other companys seem to be managing this OK..

New Taiton is a fault play,, So they need to have the targeting correct.
This should'nt be a problem, as it has been described as a " robust trap, clearly defined by 3D seismic "..
At the 17,000 ft level, they should have encountered at least one upper and 3 lower zones.
With the lease at 1787 acres, if successful,,should sustain 5 wells all up..[ that's an opinion, NOT a fact ].

My prediction, is that they may produce from three zones,, one upper and at least 2 lower,, IF they get it right...!!!!

AND if they DO,,,, It may be surprisingly good ..!!

Spoke to Alex Forcke this morning and he said the New Taiton fraccing operations are due to commence later today and we will make our next announcement upon obtaining definitive flow results from that well which is expected to take a number of days.

Cheers.

blues said:

Spoke to Alex Forcke this morning and he said the New Taiton fraccing operations are due to commence later today and we will make our next announcement upon obtaining definitive flow results from that well which is expected to take a number of days.

Cheers.

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same as what i got yesterday...

it seems adi are interested in only putting out results, no speculation allowed!!

blues said:

Spoke to Alex Forcke this morning and he said the New Taiton fraccing operations are due to commence later today and we will make our next announcement upon obtaining definitive flow results from that well which is expected to take a number of days.

Cheers.

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is it to much trouble for adi to post announcement to that affect, after all we are shareholders of the company. i cant see why i have to read azz announcements ! that's the only thing i don't like about this company, they keep all the info to close to there chest. and that's part of the reason the sp is down so often.

mick

mick z said:

is it to much trouble for adi to post announcement to that affect, after all we are shareholders of the company. i cant see why i have to read azz announcements ! that's the only thing i don't like about this company, they keep all the info to close to there chest. and that's part of the reason the sp is down so often.

mick

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i dont know if its that alone that is causing the selling.. the volume stays low, so i feel its just people leaving for various reasons, or taking profit incase NT doesnt flow.. but i hear its a standard frac, no big deal, and the well is connected to the pipeline..

they are facing right now, so it wont be long for the results.. i know they are not going to sit on them, so i think its days not weeks..

its all good news from here on..NT flow results (hopefully).. next well on block A... then Sl testing.. then we get delivered the verdict, how many wells, where, when... all looking like nice upside to me..

I don't think there is any chance of getting flow results tomorrow, but it would be great if they put ADI / AZZ into a TH pending these results as this would suggest they are getting good flows, and just need more time to get definative results!

i was thinking about what NT will offer ADi and looked through the may report from AZZ.. these are the gems they put out on NT:

http://www.antaresenergy.com/index.php?page=asxAnnouncements&year=2007






•Drilled five exploration and one appraisal well


all imho and dyor

when do you think we will get some results? Tuesday? Monday is a public holiday. Looking forward to the next couple of months and a resumption of information flow from the JVPs.

its already been faced, so its now in the part where they extract fluids and commence flow testing... so in days they will have the definitive results they are so keen to have..

3 day long weekend, means by tuesday they know everything..

so if you buying now, its good timing,,

not much mass selling happening, so i assume the news so far must be great...

all imho and dyor

Agentm said:

so if you buying now, its good timing,,

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I'm am!! If NT gives bad news next week, they will side cut the hole and re-drill. The gas is there, so it's just a matter of timing. If it is good, well then.. that is just a bonus. I'm in this for SL baby!

maverick11 said:

I'm am!! If NT gives bad news next week, they will side cut the hole and re-drill. The gas is there, so it's just a matter of timing. If it is good, well then.. that is just a bonus. I'm in this for SL baby!

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AZZ $1.03 +0.05 has to bode well for ADI on a fairly bleak day for the wider market. Have a great long weekend everyone, hoping for some good news on Tuesday.

Broadside said:

AZZ $1.03 +0.05 has to bode well for ADI on a fairly bleak day for the wider market. Have a great long weekend everyone, hoping for some good news on Tuesday.

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have been keeping an eye on AZZ for over 12 months now and they seem to be a little leaky. Up over 7% today so hopefully this is good news for NT in what appears to be a day of red.

I see one of the founding investors in Baraka, Mr Isselmou Ould Didi Ould Tajedine has increased his position in the BKP, which may mean something in terms of the alliance perhaps? BKP need to get something off the ground, and i was given the impression that the alliance was not going to enter a MOU for the sake of notoriety, but for the practical purpose of achieving access to A variety of projects including production, rejuvenation, development, near field exploration and frontier exploration are likely to be considered by the Alliance members

In terms of near term, the NT well is of significant importance to ADI, with the failure at magnolia, and the inability to progress on the SL well whilst TCE keeps the project on ice, NT will bring in immediate revenue, vital to ADI and in terms of the O&G explorers on the market, there are many out there with offshore and onshore finds and no production as yet, ADI is progressing into a producer in a very rapid time, and i had invested only for one of the two wells to be a success. there are very good signs and indications right now that the NT well is about to deliver all holders some great reward..

SL will eventually be fired up again next month, the pipe would have been recovered at the site and the well prepared for the extensive frac and testing about to be undertaken, no rush there, and the frustration of waiting nearly 12 months for the frac is going to be well rewarded many times over..

great days ahead still in my view

all imho and dyor

I am hoping for some news this week, does anyone expect a results of the NT frac test in tomorrows report or the following week?

EKA strangely had a relatively high volume today... is an announcement on sugarloaf testing commencement expected imminently? guess we'll find out tomorrow.... assuming ADI will mention something in the ususal wednesday annoucement..

13 June 2007
Company Announcements Platform
Australian Stock Exchange Limited
Exchange Centre
20 Bond Street
SYDNEY NSW 2000
Via ASX Online

Operations Update

Ilse 1 Well (New Taiton Prospect) – Adelphi 25% Interest

Adelphi Energy Limited advises that fracture stimulation operations over a total 16 foot perforated interval in the Lower Wilcox section of the Ilse 1 well (at a depth of approximately 16,780 feet) were undertaken on 6 June 2007. Since that time, approximately 38% of total frac fluid has been recovered from the well bore.

Intermittent gas flows recorded during that period have so far only been at sub-commercial rates. The well is currently shut in to undertake a pressure build up survey before recommencing flow testing operations and to obtain gas samples. Until additional frac fluid has been recovered from the well and further pressure and gas flow data has been obtained, it is too early to draw any definitive conclusions about the commercial flow potential from this zone.

Further updates will be provided to shareholders as additional information from this test becomes available. Over the coming days the joint venture parties will also be reviewing forward options in relation to the testing of the other potential pay intervals in the Upper Wilcox (at depths of up to 14,600 feet).

Not looking good. Look for a good 'buying' opportunity in the next few days as I'm suspecting something of a small sell off to occur.

Still holding, still hopeful. (primarily over SL secondaries anyway)

Yep there she sinks. Down 18% today. It's been nothing but a string of bad news for months now. Speculators always seems to be the one with no finger nails.

Chew chew chew.

Rang the company this morning to ask some questions about the New Taiton results which are very disappointing but no one was available to take my call. They have said they will ring me back. Be interesting to find out why you would lay a pipeline etc before knowing the well will flow!

Cheers.