BUR - Burleson Energy

[Dukey]

Well - Rocket 2 hole reports gas shows and surface flaring - hopefully we'll get some idea of just how much gas they have there soon.

Seems like just a small group interested in this one....

 

[mick z]

dukey,

i feel this is a little gem of a company that will shine one day, it's just not on the radar yet, i think if we hold for a wee while all will come good, don't forget we are on the ground floor with this one.

mick

 

[Wysiwyg]

Well as can be seen from the chart below BUR has just about, if not,bottomed out (beware of confucius now ).More downside or crabbing? Rocket 2 (17.5% working interest and a 13.25% net revenue interest) report told us they had some problems and had to sidetrack ....

Commenced drilling 4 July 2007, Nabors Rig 623. Cemented
10-3/4 inch surface casing to 2,530 feet, and 7-5/8 inch casing to 14,642feet. Drilled part of lateral in target Austin Chalk reservoir. Gas shows and evidence of fracturing were encountered while drilling that interval. However mechanical problems necessitated a re-drilling of the lateral via a sidetrack well bore.

This weeks report will hopefully bring good news on the progress and drilling must be close to completion.Lets hope the field hasn`t been bled dry.Some facts for those interested :-

• Cash at bank ~A$12 million
• Market Capitalisation as at mid June 2007 ~ A$22 million
• Significant Shareholders
– Macquarie Bank
– Kugler Family
– Directors and Consultants

 

[Dukey]

Nice reassuring announcement from BUR today with 2 directors (Kugler and Sandy) buying a total of 1680 000 ordinary shares and the same number of options.

Just serves to boost my confidence in this one.

Nice boardroom radio interview with Exec Dir Michael Sandy from the company website here.
Seems to be a straight talker - Mr Sandy.

One thing that I really like about this one is - the information is all there up front. No secrets and reading in between the lines like we have had to do for ADI etc for a long time now. (even though they are drilling the same austin chalks, in a different county).

BUR are 'producers' after just ?? 14 months ?? i think they said since listing.... Still seems to be under everyones radar but I'm liking it more everyday...
... just.... need..... more..... caaassssshhhhhh......

 

[cicak_kupang]

Couldn't agree more Dukey.................... Ive held this one for a while now, a bottom draw stock. Very promising future, good drilling programme on known fields. Definitely bellow every ones radar, and good buying prices atm.

Are u watching ARQ too? The sp has been steadily going up, awaiting the valentine1 primary to be drilled into...............

 

[Dukey]

Yep - ARQ is scaring me abit - yemen is looking like a lemon as far as I have seen - so its up to Canning and ADI to push ARQ higher.
Hope they've got it right... will just have to wait and see.

BUR is less of a worry I think. Just wish I could get more cause its feeling like a gimme.

 

[resourceboom]

Bought a few for the old smsf today, I think .175 is a great price.
Lets hope that the shorter then planned rocket 2 still has great flow.
The 2 wells either side were super strong initial flowers.....

 

[Wysiwyg]

Bought a few for the old smsf today, I think .175 is a great price.
Lets hope that the shorter then planned rocket 2 still has great flow.
The 2 wells either side were super strong initial flowers.....

In this particular plot there is consistent production at profitable flow rates so Jet will likely do the same.
Building a regular bank of producers will come about faster than one can forget about them.
(allowing for the odd miss too)

 

[Dukey]

when is rocket testing? must be pretty soon huh. I've read so many reprts recently they are all starting to blend into one.
I'd better get my info system sorted out I think.

Happily holding for the inevitable and still surprised BUR isn't getting more attention.

 

[resourceboom]

when is rocket testing? must be pretty soon huh. I've read so many reprts recently they are all starting to blend into one.
I'd better get my info system sorted out I think.

Happily holding for the inevitable and still surprised BUR isn't getting more attention.

Yeah, hopefully get some flow results soon, think they'll probably just hook it straight into production then let us know the rates.

When we get some solid flows, and if we can successfully drill the whole horizontal at Jet 3, (edit then BUR should get more attention and I) think the sp will be much more respectable !!

 

[Dukey]

Well - Resourcesboom picked it like a nose - no testing of Rocket#2 well - they are just putting it straight into production. Lateral was cut short (1800ft long) due to 'drilling challenges' - but obviously they expect it to produce anyway.

Seems that BUR will soon have two producing wells:
YPU#1 (Burleson= 40%) and Rocket#2 (BUR = 17.5%).
with Jet#3 (BUR = 37.5% working interest) about to spud...

It's all good - though SP action yet to come....

 

[Wysiwyg]

Late afternoon company presentation today at Burleson Energy.Drilling program unfolding to plan so far. :bier:

 

[resourceboom]

Interesting Dukey, I thought all the champions wells were 17.5%,
however as you said Jet3 is 37.5% as confirmed by the presentation, unless that was a typo? A good result in Jet3 should do wonders for our nice little company then!!

Seems that BUR will soon have two producing wells:
YPU#1 (Burleson= 40%) and Rocket#2 (BUR = 17.5%).
with Jet#3 (BUR = 37.5% working interest) about to spud...

 

[barney]

Chart is starting to look interesting on BUR .......... Long consolidation period around 18 cents and steadily increasing volume recently ........... Looks like some postive accumulation ..... Forming a nice base to rise off ............ Cheers.

 

[barney]

Another positive report today ..... Some good volume lately, but sellers still not exhausted ............. Continues to consolidate around 16.5-17.5 ....... Not sure what will make this one run, but if they keep drilling successful wells, sooner or later the current sp may be a thing of the past. Cheers.

Burleson Drilling Update
Yegua Properties Unit 1 Well (BUR WI 40%)
The first well in the programme YPU 1 is on production (gas and condensate).
Rocket 2, Champions Area, Grimes County Texas (BUR WI 17.5%)
Preparation of the Rocket 2 well for production is continuing. The well is currently flowing and
producing drilling fluids at the initial stage of the clean-up phase.
After this initial flow back the well will be temporarily shut-in and the rig demobilised. This will be
followed by installation of meters and connection of the well to the gas production pipeline.
Jet 3 Well, Champions Area, Grimes County Texas (BUR WI 37.5%)
The Nabors 623 rig will be mobilized in the next couple of days from the Rocket 2 well site to the
Jet 3 well site to commence drilling.
Michael Sandy
Executive Director
www.burlesonenergyltd.com

 

[Wysiwyg]

Another positive report today ..... Some good volume lately, but sellers still not exhausted ............. Continues to consolidate around 16.5-17.5 ....... Not sure what will make this one run, but if they keep drilling successful wells, sooner or later the current sp may be a thing of the past.

I read that the Champions area was only 17.5% w.i. to BUR.

BUR and AKG have interests in Champions leases covering 15,795 acres. BUR will have a 20% paying interest, a 17.5% working interest and a 13.25% net revenue interest in most wells to be drilled in the area.

The key word being most i notice.Will be cool (i.m.o.) when/if Jet 3 gets near the surrounding wells success.I thought 3 producers before end of year and that is unlikely now but who cares, the bigger picture is still unfolding.

Some good volume lately, but sellers still not exhausted

From where i sit at the moment the low end departures are part of the usual story and a lower o.p. will be welcome.

 

[resourceboom]

Emailed Mr Sandy, and he confirmed that the W.I. in Jet3 is 37.5%
They increased their % as its their best prospect in their whole leaseholdings.
Hope we drill through this one smoothly.

 

[spidermonkey084]

Has anyone got any thoughts as to what term we should see some rises in the share price it seems to be 16.5 to 17.5 at the moment i have only got about 4000 shares in these guys but would like to make a bit of profit soon ish what do people think.

 

[AjD]

They appear to have good management, are less dependant on raising capital due to the fact they are earning revenue. I bought in at $0.33, and am sitting on a loss, but I am planning to hold as I believe they will come good.

 

[spidermonkey084]

Ahh ok i was lucky to get them at .18 so not to bad but we will see
we go.........................................................................................................................................