chops_a_must
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Large retracement today. I must say, I am rather disappointed, and did expect this one to go much further.bigdog said:
AED - AED Oil
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bigdog
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ASX ann after close today down 14 cents
Any guesses what will happen at 10:00 tomorrow folowing tonights Ann!
The SP did not do well today
AED $4.85 -$0.14 -2.81% 147,233 share $718,748 19-Feb 16:10:10
19-02-2007 05:22 PM AED Spudding of Puffin-8
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00694463
ASX Announcement
19 February 2007
Spudding of Puffin-8 Puffin Oil Field AC/L6
AED Oil Limited (“AED”) is pleased to announce that the Stena Clyde drilling rig has set anchor at Puffin-8 and spudded the well at 1700 hours EST on 17 February 2007.
Puffin-8 is the second development well targeting the main Puffin North East structure (NE1). The subsea location of the well is 310m south of Puffin-7. The well is again planned as a horizontal well, reaching the reservoir (LK1a sand) at approximately 2045m TVD RT (True Vertical Depth from Rotary Table). The horizontal section would be a minimum of approximately 250m. The well is expected to reach a minimum measured depth of at least 2920m RT, with a maximum of around 3800m RT. After completing the well, a short flow test will follow to ensure well integrity. The total time for drilling and completion of the well is estimated to be 42 days, assuming no downtime for weather or other reasons, with an estimated completion date of 29 March.
Any guesses what will happen at 10:00 tomorrow folowing tonights Ann!
The SP did not do well today
AED $4.85 -$0.14 -2.81% 147,233 share $718,748 19-Feb 16:10:10
19-02-2007 05:22 PM AED Spudding of Puffin-8
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00694463
ASX Announcement
19 February 2007
Spudding of Puffin-8 Puffin Oil Field AC/L6
AED Oil Limited (“AED”) is pleased to announce that the Stena Clyde drilling rig has set anchor at Puffin-8 and spudded the well at 1700 hours EST on 17 February 2007.
Puffin-8 is the second development well targeting the main Puffin North East structure (NE1). The subsea location of the well is 310m south of Puffin-7. The well is again planned as a horizontal well, reaching the reservoir (LK1a sand) at approximately 2045m TVD RT (True Vertical Depth from Rotary Table). The horizontal section would be a minimum of approximately 250m. The well is expected to reach a minimum measured depth of at least 2920m RT, with a maximum of around 3800m RT. After completing the well, a short flow test will follow to ensure well integrity. The total time for drilling and completion of the well is estimated to be 42 days, assuming no downtime for weather or other reasons, with an estimated completion date of 29 March.
chops_a_must
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Unfortunately, if it doesn't go through $5 with volume, it might head back to about $4.50. But today was a very very poor showing. I'm not convinced it will head north, but this is still massively undervalued. Might have to wait until first oil before we really see some action.bigdog said:
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if they hit their projected 30,000 bopd this should perform very strongly
chops_a_must
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I did hear from a client tonight, that there is big problems with one of the contracting companies working for AED. Lots of scrambling to Singapore for some reason...
chops_a_must
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Another very disappointing day for AED. Where to from here?
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not too long till first oil, patience required !! 
bigdog
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chops_a_must - the market did not like todays ann on reduced oil reserves!
AED $4.75 -$0.10 -2.06% 224,749 shares $1,082,562 20-Feb 15:26:30
ASX Announcement
20th February 2007
AED 2:38 PM Revision and Clarification to ASX Announcement Feb 15, 2007
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00694818
Puffin Oilfield Reserves Update
Norwest Energy has revised its calculations contained in its previous ASX
announcement dated 15th February 2007, with respect to the Puffin Oilfield Reserves update and also clarifies its assumptions.
Norwest’s release quoted Oil Initially In Place (OIIP) for the NE1 area at 90 million barrels. The actual figure as confirmed by the Operator, AED Oil Limited, for P50 OIIP is 67 million barrels. Norwest’s release quoted an expected ultimate recovery (P50) of 40 million barrels for NE1. (Refer to AED’s presentations issued 22nd November 2006 for further details.)
More recently, the Operator issued a range for the OIIP in the NE2 area of 11 to 30 million barrels. In order to establish an estimate of recoverable oil in the area, Norwest used the average of that range of 20.5 million barrels. Norwest has used a conservative recovery factor of 44% to derive potential recoverable reserves of 9 million barrels (range 5 to 13 million barrels) for the NE2.
The table of oil volumes provided in the previous announcement is repeated below in its corrected form and is based on reasonable assumptions which are yet to be confirmed.
The value of Norwest’s royalty stream using these volumes is estimated at AU $41 million. (assumptions: oil price of US$50 per barrel and exchange rate of $0.75).
AED $4.75 -$0.10 -2.06% 224,749 shares $1,082,562 20-Feb 15:26:30
ASX Announcement
20th February 2007
AED 2:38 PM Revision and Clarification to ASX Announcement Feb 15, 2007
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00694818
Puffin Oilfield Reserves Update
Norwest Energy has revised its calculations contained in its previous ASX
announcement dated 15th February 2007, with respect to the Puffin Oilfield Reserves update and also clarifies its assumptions.
Norwest’s release quoted Oil Initially In Place (OIIP) for the NE1 area at 90 million barrels. The actual figure as confirmed by the Operator, AED Oil Limited, for P50 OIIP is 67 million barrels. Norwest’s release quoted an expected ultimate recovery (P50) of 40 million barrels for NE1. (Refer to AED’s presentations issued 22nd November 2006 for further details.)
More recently, the Operator issued a range for the OIIP in the NE2 area of 11 to 30 million barrels. In order to establish an estimate of recoverable oil in the area, Norwest used the average of that range of 20.5 million barrels. Norwest has used a conservative recovery factor of 44% to derive potential recoverable reserves of 9 million barrels (range 5 to 13 million barrels) for the NE2.
The table of oil volumes provided in the previous announcement is repeated below in its corrected form and is based on reasonable assumptions which are yet to be confirmed.
The value of Norwest’s royalty stream using these volumes is estimated at AU $41 million. (assumptions: oil price of US$50 per barrel and exchange rate of $0.75).
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This was NOT a reserves downgrade, just a mistake by NWE in their previous announcement !!
chops_a_must
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Interestingly, NWE looked like it climbed strongly after that.... Weird... Maybe the market just needed some reminding.resourceboom said:This was NOT a reserves downgrade, just a mistake by NWE in their previous announcement !!
bigdog
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SP looking much better today up 25 cents
AED $5.10 +$0.25 +5.15% 417,997 share $2,102,755 21-Feb 14:32:15
AED $5.10 +$0.25 +5.15% 417,997 share $2,102,755 21-Feb 14:32:15
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Nice rise today,would be even better if it closes above $5.Recent high of $5.14 would be even better
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I'm looking forward to the SW reserves announcement due soon!!
chops_a_must
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I know a lot more now. I found out that the rush to Singapore was about a problem with one of the drilling rig packages for one of the wells. I don't know how severe it is/ was. Apparently relatively minor, but still, they went for the low cost option and it backfired apparently. Means a small delay. Don't know for how long.chops_a_must said:
Would like to know if someone has dates for the proposed ann's. Bummer I don't know how significant these delays are because it seems to be a stock that needs constant news to be able to climb.
Still hold, because this is likely to fly at some stage, and I don't want to miss out.
bigdog
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ASX ann Feb 27
No suggestions about problems!
SP steady at 5.00 since ann
AED 3:21 PM Drilling Progress Report No 1 - Puffin-8
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00697593
Drilling Progress Report No 1- Puffin-8
During the past week drilling operations continued at Puffin-8. The operations included drilling 17-1/2” hole to 984m, setting and cementing 13-3/8” casing at 965m, drilling out cement and fresh formation and performing a successful formation integrity test to 12ppg EMW. Drilling is currently underway in 12-1/4” hole and the well is at a depth of 1,079 m True Vertical Depth (TVD). Forthcoming operations are to drill towards the LK1a reservoir objective while building angle for the horizontal section in the reservoir.
Puffin-8 was spudded with the Stena Clyde rig on Saturday 17th February. Water depth at location is 104 metres. The rotary table is 25 metre above the sea level. All depths are referenced from the rotary table unless otherwise stated.
No suggestions about problems!
SP steady at 5.00 since ann
AED 3:21 PM Drilling Progress Report No 1 - Puffin-8
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00697593
Drilling Progress Report No 1- Puffin-8
During the past week drilling operations continued at Puffin-8. The operations included drilling 17-1/2” hole to 984m, setting and cementing 13-3/8” casing at 965m, drilling out cement and fresh formation and performing a successful formation integrity test to 12ppg EMW. Drilling is currently underway in 12-1/4” hole and the well is at a depth of 1,079 m True Vertical Depth (TVD). Forthcoming operations are to drill towards the LK1a reservoir objective while building angle for the horizontal section in the reservoir.
Puffin-8 was spudded with the Stena Clyde rig on Saturday 17th February. Water depth at location is 104 metres. The rotary table is 25 metre above the sea level. All depths are referenced from the rotary table unless otherwise stated.
chops_a_must
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Ouch! Parachutes people!
Absolutely in the middle of nowhere in regards to the share price. Nothing stopping this one from going back to 3.50.
Absolutely in the middle of nowhere in regards to the share price. Nothing stopping this one from going back to 3.50.
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chops_a_must said:
Bring on that $3.50 c.a.m.
I've got some spare cash dying to be spent on bargains!!
bigdog
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AED ASX ann March 6
AED 4:34 PM Drilling Progress Report No 2 - Puffin-8
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00700437
There was talk last week about trip to Singapore!!!
Expect ASX Ann end of this week on Puffin South West Resources!!
Drilling Progress Report No 2- Puffin-8
During the past week drilling operations continued at Puffin-8. The operations included drilling 12-1/4” hole to 1628m MD (Measured Depth). As a precautionary step the rig was de-manned due to cyclone activity in the region. Re-manning will commence tomorrow and drilling will recommence on Thursday. The disruption in the drilling program is not expected to impact on the overall project schedule. Forthcoming operations are to drill towards the LK1a reservoir objective while building angle for the horizontal section in the reservoir.
Puffin-8 was spudded with the Stena Clyde rig on Saturday 17th February. Water depth at location is 104 metres. The rotary table is 25 metre above the sea level. All depths are referenced from the rotary table unless otherwise stated.
Additional Note – Puffin South West Resources
AED has previously advised that it is will be releasing Oil Initially In Place information relating to the Puffin South West area. It was expected that this information would be available by the end of February 2007. The Company wishes to advise that the information will be released by the end of this week.
Trevor Slater
AED 4:34 PM Drilling Progress Report No 2 - Puffin-8
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00700437
There was talk last week about trip to Singapore!!!
Expect ASX Ann end of this week on Puffin South West Resources!!
Drilling Progress Report No 2- Puffin-8
During the past week drilling operations continued at Puffin-8. The operations included drilling 12-1/4” hole to 1628m MD (Measured Depth). As a precautionary step the rig was de-manned due to cyclone activity in the region. Re-manning will commence tomorrow and drilling will recommence on Thursday. The disruption in the drilling program is not expected to impact on the overall project schedule. Forthcoming operations are to drill towards the LK1a reservoir objective while building angle for the horizontal section in the reservoir.
Puffin-8 was spudded with the Stena Clyde rig on Saturday 17th February. Water depth at location is 104 metres. The rotary table is 25 metre above the sea level. All depths are referenced from the rotary table unless otherwise stated.
Additional Note – Puffin South West Resources
AED has previously advised that it is will be releasing Oil Initially In Place information relating to the Puffin South West area. It was expected that this information would be available by the end of February 2007. The Company wishes to advise that the information will be released by the end of this week.
Trevor Slater
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Hi Guys,
Really appreciate all you posts. Have absolutely no geological knowledge however I recently stumbled across some figures from the US$85m convertible notes issue circular that macquarie bank fully subscribed to.
Come July 1, 2007 AED will be producing 30,000 bopd - 10,800,000 bopa.
Considering they have 1.2m bo hedged at US$71 these guys are in line to make a packet next year. From my calculations assuming the remaining oil after hedging is sold at US$50 pb 2008 FY revenue equals US$565.2m. The circular also states that production is expected to increase to 40,000 bopd in the future (can't recall when off the top of my head).
Also estimates operational expenditure at US$70m per year.
From my calculations assuming the remaining oil after hedging is sold at US$50 pb 2008 FY revenue equals US$565.2m A$750m.
The fundamentals look fantastic for this company in the next 12-18 mths.
Can't wait for the upcoming drilling results.
Really appreciate all you posts. Have absolutely no geological knowledge however I recently stumbled across some figures from the US$85m convertible notes issue circular that macquarie bank fully subscribed to.
Come July 1, 2007 AED will be producing 30,000 bopd - 10,800,000 bopa.
Considering they have 1.2m bo hedged at US$71 these guys are in line to make a packet next year. From my calculations assuming the remaining oil after hedging is sold at US$50 pb 2008 FY revenue equals US$565.2m. The circular also states that production is expected to increase to 40,000 bopd in the future (can't recall when off the top of my head).
Also estimates operational expenditure at US$70m per year.
From my calculations assuming the remaining oil after hedging is sold at US$50 pb 2008 FY revenue equals US$565.2m A$750m.
The fundamentals look fantastic for this company in the next 12-18 mths.
Can't wait for the upcoming drilling results.
