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ADI - Adelphi Energy

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great start to the day..

the acreages TCEI got with the jvp's is worth looking at.

I looked at them over the past month, pulled up the 2d's that conocophillips did, and the areas in karnes county where the sugarkane prospect is, and has been secured by TCEI

Study of regional seismic and well information by Texas Crude Energy Inc. (“TCEI” – operator of the Sugarloaf Joint Venture) suggests the Sugarkane Field is extensive and, as recently announced, the Sugarloaf Joint Venture has now secured a total of around 20,000 acres of leases (of which Adelphi has a 20% interest) which cover portion of the interpreted eastern extension of the Sugarkane Field. These leases provide rights to all depths. The leasing of the Sugarloaf acreage was carried out in competition with several USA oil and gas companies, including at least one major oil company.


once the battle was over, the JVP has now announced that the acreages were fought over real hard..

the AUT extra acreages have not had that same fierce competition,, i am not saying the additional AUT acreages are just pipe dreams, but you have to consider the importance of what it means to be in direct competition with "one major oil company" on the 20,000 acres, as apposed to the more newly aquired acreages recently announced by AUT.

we are fortunate to be able to have snared the eastern aspect of the sugarkane field from conocophillips, but sugarkane doesnt go on for ever.. it certainly would be highly prospective where the hotly contested acreages we have are.. the additional acreages have not been announced with the same fanfare!!

IMHO i feel the sugarkane is under the 20,000 acres, and thats only on the research i have done,, i dont know it for certain!! but i cant see the JVP just letting additional acreages go to individual members of the jvp without themselves understanding the significance of the geology..

ARQ has a good crew of geologists, as does EME, and these two members have not sought the additional acreages.. what does that tell you..


In my view the greater significant part of the territory was the territory hard fought for by the sugarloaf TCEI JVP.

if you are aware of all the wells in the region, and what they produce (gas or gas and oil) then you get an idea of which are on the sugarkane play and which are on only perhaps one play.

regardless of the prospectivity of acreages and additional acreages, the absolute truth in the recent announcement is blaring obvious..

why would a major oil company be fighting for acreages we secured??

the only answer is multi TCF!!

if you think the share is worth selling for .70 then thats your deal, but i wouldnt think the share would be worth anything less than $5 if a major oil company just lost 20,000 acres of sugarkane..

DYOR, but dont sell out too cheaply.. think about what the play has to be for a major oil company like conocophillips to be involved..

all imho and dyor..
 
Re. EKA halt:

Dear Sir

The Company's request for a trading halt is due to a transaction that is
under negotiation. We anticipate that an announcement will be made before
the opening of trading on Tuesday 24 July. Trading in the company's
securities should begin at this time.

Regards,

Jennifer Strydom

Executive Assistant

any thoughts as to what the transaction is.....?

anyhow...no need to wait for the ann til next tuesday... keep an eye on aut on monday tho'....
 
the word on Hotcopper from rice01 is that AUT and EKA are together getting more acreage. I guess we'll find out early next week. EKA would probably need to raise more funds if that is the case, but it's a positive move for them even if it dilutes my options somewhat.
 
..oh... if that's what they're up to i'm happy for them to 'diversify' - hoping they actually come up with something decent... makes the overall stock less risky too... in their position (if it was my co.) i'd assume they'd go down a lower risk road to ensure they can get some cash flow in the near term... perhaps they're doing something with EME also????
 
more acreage around Sugarloaf / Sugarkane is how I read it, so don't know if it will decrease the risk of EKA....it is the same project.
 
...If it is sugarkane/sugarloaf then it'll be interesting to see what ADI has passed up on and why... anyhow there's going to be some anxious pacing around my lounge room this weekend!!!
 
I doubt it was the primo real estate or all the partners would have grabbed it, perhaps more speculative but it may add to the blue sky for the later punters if SL-1 delivers and Kunde 3 etc.
 
Broadside said:
I doubt it was the primo real estate or all the partners would have grabbed it, perhaps more speculative but it may add to the blue sky for the later punters if SL-1 delivers and Kunde 3 etc.
Click to expand...

Just thinking out aloud here, but if EKA and AUT are the least funded of the JV partners, could it be possible Texas Crude is making them both a "buy out" offer, considering the future costs to develop the Sugarloaf area will be large??................ ADI are well funded, so will be able to meet the financial costs required ............. Just a thought ............. Could be way off the mark, but it would explain why ADI are not involved in the T/Halt ??
 
i hear theres a lot of things happening in texas right now..

and ADI has a large presence in the area..

Dont think that the play can be underestimated..

these trading halts are absolutely related to the things we are all concerned about..

conocophillips wouldnt be bothering with a small play under a few tcf...

wake up adi investors,, your selling yourself short big time.. in a few weeks you wont be seeing anything under $2..

hold long..
 
barney, if TCEI made a move like that it, it would be because Sugarloaf/kane was a no brainer winner, and if that were the case I couldn't see EKA or AUT entertaining the idea of getting taken out so close to the finishing line. It would truly have to be an offer too good to refuse. They may need more funds to develop, but that will be a good problem to have because it would mean success and they ought to be able to raise a lot of money at much higher prices than today...and not all at once, incrementally. Hopefully the first few wells would fund the next few etc...can't build 100 wells all at once!

Well that's how I see it anyway.
 

If you read the AUT announcements you will see that AUT has negotiated considerable acerage adjacent to Sugarloaf (or read posts on AUT.)
 
... as far as i can see all the announcements 'til now on the acreage acquisition have been made without the need for a trading halt... could EKA and AUT be doing a merger deal? if so what would be the benefit???
 
chance fate said:
... as far as i can see all the announcements 'til now on the acreage acquisition have been made without the need for a trading halt... could EKA and AUT be doing a merger deal? if so what would be the benefit???
Click to expand...

the other riddle is why did AUT go into trading halt 24 hours before Eureka? if they are the same deal why was EKA still trading all of yesterday?
 
i am not concerned about the trading halt, as its not changing the outcome of anything ADI is up to..

the transaction means funds..

the only thing that they need funds for is to pay themselves more or if they want to buy something..

i still feel the biggest single issue is why would you sell today when the likes of every major oil company and conocophillips were trying to get them from you???

again only one conclusion..

MULTI TCF!!!!!!!!!
 
M&A seems a possibility. It has been mentioned on other forums.

Alex Neuling is a director for Eureka and company secretary for AUT.

Graham Dowling is on both boards...

Not sure of the significance but it is a possibility... just speculation at this stage...
 
The price has had two bounces off 0.50 in the last six months, up to around 0.75 and back again, so the technical theory on a rise through 0.75 says 1.00 would be the minimum expectation in that event.
 

Attachments

  • ADI Big Chart July 07.gif
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... a Merger might only save a bit of admin overhead then? ... might be good for efficiency but would there be any shareholder benefit?? ...so shouldn't really affect the sp's if it is a merger....
 

I agree B/side, If my "left of field" scenario turns out correct, it would only prove that the whole play is a goer, and the price offered to the JV's would be substantial .......... After reading a bit more, I'm convinced the Trading Halts for both Co's will simply be related to capital raising for funding their increased "exposure" to the whole area.

That being the case, it just confirms further that the whole play is being treated by all the parties as a definite goer, and I for one cannot see any scenario that puts a negative slant on what is going on ........... All positive from my p.o.v. ................ Cheers all.
 


hey barney..

your reading it right.. 100% spot on..

keep doin those gigs and chill out (as usual) and enjoy the blue skies that ADI will give you..

if ever there was a time to hold.. right now is the time!!
 
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