CVN - Carnarvon Energy

[MS+Tradesim]

Just confirming what resourceman said. In the above-linked presentation at about 19:45mins the guy does say that in L44G(-D1) wells they have encountered the most significant oil and gas shows of any drilled to date in the concession.

 

[jtb]

Just confirming what resourceman said. In the above-linked presentation at about 19:45mins the guy does say that in L44G(-D1) wells they have encountered the most significant oil and gas shows of any drilled to date in the concession.

Is it me or does L44G D1 sound a bit tight?

http://aspect.comsec.com.au/asxdata/20071009/pdf/00767789.pdf

 

[MS+Tradesim]

Yes, announcement was a bit of a let-down, doesn't sound like the flow rates will be great. Still, that cleared the speculators out on open. Results yet to come. Also NS8-D1 looks promising, and NS2-D1 shaping up nicely too. Both commented on as being extremely fractured and permeable. Will be holding for a while yet.

 

[resourcesman]

looks like oil flow is gonna be a while yet...next well, hopefully... guess that also confirms what JTB said about the riskiness of fractured volcanics: even if theres oil, it still might not flow.....

 

[adobee]

I came across CVN only recently and thought I had missed the boat yesterday.. Where do people feel resistance will be folllowing todays announcement.. ?

 

[1234]

I came across CVN only recently and thought I had missed the boat yesterday.. Where do people feel resistance will be folllowing todays announcement.. ?

It's holding it's own at 32c imo. Which just happens to be the level just below where the speculators jumped on board in the last couple of days..

The way I read the ann, there is still another zone to be tested??

"have been perforated and flow tested over 4 and 3 intervals,
respectively. Preliminary testing results indicate an oil and gas charged system with tight, low permeability reservoir, with the exception of the lowest tested interval in the structurally lowest well (L44-G) that tested approximately 200 barrels per day of water"

 

[gfresh]

I have a stop on 30c. Short term support may be 32c, but look at the large gap from 22c to 28c. May well crash through that if hits 28c.

 

[1234]

It seems POE learned from CVN's mistake and released a 'different' slant on the same info..

"CALGARY, ALBERTA--(Marketwire - Oct. 9, 2007) - Pan Orient Energy Corp. (TSX VENTUREOE) -

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

L44G-D1 and L44-G Appraisal Wells (60% WI & Operator)

Pan Orient Energy Corp.'s Na Sanun East ("NSE") oil field appraisal wells L44G-D1 and L44-G, both in the northern fault compartment of the NSE oil field, have been perforated over 5 and 3 intervals, respectively. Preliminary testing results indicate an oil and gas charged system with the exception of the lowermost tested interval in the structurally lowest well (L44-G) that tested water.

The second interval tested on L44G-D1 flowed minor amounts of oil, approximately 3-4 barrels, with no indications of water. The first, the structurally lowest interval, tested was tight with no influx of any kind. Three additional zones have been perforated, above the interval that flowed minor oil, with testing to start within 24 hours. Results will be announced shortly.

These are the first two wells drilled into the northern fault compartment, which is at an early stage of development. Five more wells are planned on locations for which Thailand government approval is anticipated later this month. All new locations will be targeted utilizing the newly acquired 3D seismic data that completed processing two weeks ago. Management remains confident in the overall production and reserves potential of the NSE oil discovery."



Spin doctors'.. !! I like..

 

[jtb]

POE's ann certainly reads a bit better doesn't it

Just had a look at the TSX (seeing as I'm awake anyway) and their down a bit too.

Dow looks good though.

 

[Bushrat]

Yes..I prefer to read the POE announcement, but between the lines it is the same result. POE closed down 8.8% on reasonably light volume. Interestingly it opened down only 1.3%, not 11% down like CVN did yesterday, I guess that can be attributed to the timing of the announcement.

 

[resourcesman]

dont know if it could be considered light volume.... arent POE shares usually only thinly traded anyway?

 

[1234]

POE closed up nearly 6% overnight gaining 36c.

I also came accross an article last night where pOE is tipped to get to $10 based on it's Thai exploration alone..

Will post a link later..

 

[INORE]

POE closed up nearly 6% overnight gaining 36c.

I also came accross an article last night where pOE is tipped to get to $10 based on it's Thai exploration alone..

Will post a link later..

thanks 1234 but is this rise in POE directly attributable to their JV with CVN? would be nice to get that link too....cheers

 

[1234]

NS8-D1 FLOWS 1500bopd!!!!!!!!!!!!!!

Gents, it's ANOTHER GUSHER!!!!

Out on TSX just now!!!!



Pan Orient Energy Corp.'s (TSX VENTUREOE) recently drilled Na Sanun East ("NSE") oil field development well NS8-D1 is on production at a rate of 1,480 barrels of oil per day ("bopd") of 35 degree API crude. There is an additional average 7% drilling mud content that is decreasing (currently 3.8%) as the well continues to clean up and unload some of the 3,262 barrels of drilling mud lost into the target volcanic reservoir during drilling operations. The well is free flowing on choke settings of 25/64 inch on the annulus and 48/64 inch on the tubing. Flowing casing head pressure is 190 psi and flowing tubing head pressure is 80 psi.


NS8-D1 is a deviated development well, drilled to a true vertical depth ("TVD") of 886 meters, within the southern fault compartment of the NSE oil field between the POE-9 and NS3-D1 wells. The target volcanic reservoir was encountered at a depth of approximately 859 meters TVD penetrating approximately 31 meters (measured thickness) of reservoir section prior to the termination of drilling due to the severity of drilling mud losses into this extremely fractured and permeable volcanic reservoir.


These test results demonstrate high deliverability within the southern fault compartment that is similar to that encountered at L44-H, located in the central fault compartment. These results also validate the current seismic interpretation correlating 3D seismic attributes with volcanic reservoir quality.


NS2-D1 Development Well (60% WI & Operator)


Well NS2-D1 was a deviated development well that was drilled to 865 meters TVD and is 452 meters north of the NS8-D1 well detailed above. The target volcanic reservoir was encountered at an approximate depth of 807 meters TVD at what is mapped on seismic as near the structurally highest point of the southern fault compartment. Severe lost circulation was encountered while drilling through the approximately 78 meters (measured thickness) of target volcanic reservoir with mud losses totaling approximately 7,690 bbls at rates of 120 to 300 bbls/hr.


Testing is anticipated to commence within the next 48 hours with results anticipated within 7 days.


L44G-D1 Appraisal Well (60% WI & Operator)


NSE oil field appraisal well L44G-D1 is on production from perforations between 558 to 621 meters TVD at an average rate of approximately 50 bopd of 37 degree API crude after initial flush production at rates of 100-200 bopd. These early stage results represent the first oil production from the north fault compartment of the NSE field.


L44G-D1 is a deviated appraisal well that encountered multiple potential volcanic reservoirs, two of which have been proven oil bearing and the remainder tight at this location, with low permeability. These test results confirm the hydrocarbon potential of a fairway that is a minimum 7.5 kilometers in length (north-south) and whose maximum extent is still unconstrained by a defined oil/water contact to the north and south as well as to the east. This well was drilled on pre-existing 2D seismic, whereas future follow-up drilling in the northern fault compartment will be targeted on the basis of a recently acquired 3D seismic survey.


NS5-D1 Appraisal Well (60% WI & Operator)


The Aztec #14 is currently rigging up on deviated appraisal well NS5-D1, located within the central fault compartment of the NSE structural closure, 400 meters south of L44-H. Drilling is anticipated to commence in 48 hours and take 14 to 21 days to completion. This will be the second well drilled into NSE's central fault compartment.


NS6-D1 Development Well (60% WI & Operator)


The Aztec #7 rig is currently setting surface casing on deviated development well NS6-D1, located within the south fault compartment of the NSE structural closure approximately 430 meters north of the original POE-9 discovery well. Drilling is anticipated to take 14 to 21 days to completion.


Summary


Thailand production continues to increase at rates beyond management's original expectations. Current concession gross production of approximately 4,000 bopd (2,400 bopd net to Pan Orient) exceeds the Company's original 2007 exit target of 2,000 bopd net. At least 6 more development and appraisal wells will be drilled prior to year end, in addition to the NS2-D1 well which is about to start testing. A review of the requirement for a third drilling rig will be undertaken by the partnership over the next two months.


On Pan Orient's 100% owned, onshore Thailand L53 concession, a large 3D seismic program is now complete over this highly prospective acreage. Management expects a multi-well drilling program to commence in Q2 2008.


Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations currently located onshore Thailand and in Western Canada.


This news release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "anticipate" and "potential" or other similar wording. Forward-looking information in this news release includes, but is not limited to, references to: well drilling programs and drilling plans, estimates of reserves and potentially recoverable resources, and information on future production and project start-ups. By their very nature, the forward-looking statements contained in this news release require Pan Orient and its management to make assumptions that may not materialize or that may not be accurate. The forward-looking information contained in this news release is subject to known and unknown risks and uncertainties and other factors, which could cause actual results, expectations, achievements or performance to differ materially, including without limitation: imprecision of reserve estimates and estimates of recoverable quantities of oil, changes in project schedules, operating and reservoir performance, the effects of weather and climate change, the results of exploration and development drilling and related activities, demand for oil and gas, commercial negotiations, other technical and economic factors or revisions and other factors, many of which are beyond the control of Pan Orient. Although Pan Orient believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct.


(Listed on the TSX Venture Exchange - Symbol "POE" - 41,634,842 common shares issued)

 

[resourcesman]

lol.... man CVN is really making us alot of money.... too bad i got rid of 10% of my holdings yesterday in case it didnt come out well today..... either way im still happy... totally free carried!!

 

[1234]

lol.... man CVN is really making us alot of money.... too bad i got rid of 10% of my holdings yesterday in case it didnt come out well today..... either way im still happy... totally free carried!!

You don't know how close I came to doing the same thing!!

damn this is good.

Based on the last ann of 1265 it should see 50c in the near future.

We still have ANOTHER drill result coming in the next week or so!!

 

[Sean K]

I also came accross an article last night where pOE is tipped to get to $10 based on it's Thai exploration alone..

Will post a link later..

Where's the link 1234?

Based on the last ann of 1265 it should see 50c in the near future.

Can you also please provide some more info on what 1265 is to get a 50c target.

Thanks.

 

[1234]

Where's the link 1234?

Can you also please provide some more info on what 1265 is to get a 50c target.

Thanks.

Direct link http://www.stockhouse.ca/bullboards...r=O&StartID=15766694&StartDateTime=2007-10-09

Text;

PAN ORIENT ENERGY (V-POE) $6.16 -0.06
As well as Oilexco hitting new highs yesterday, Pan Orient
was flirting with new highs as well. Most of the investing/
speculating public hasn’t followed this story at all and the company
operates mainly in India/Indonesia but it’s prime discovery
is off-shore Thailand and it looks like it’s turning out to be a
rather sizeable one.
Very few analysts are following it except for Warren Verbonac
of Octagon Capital Corp., and the other day we talked to
Peter Hudson of Sprott Asset Management who gave the firm a
lot of coverage when he picked it as one of his three favorites
on BNN back on September 20th. When we talked to him, he
suggested he wouldn’t be surprised if this story couldn’t go
considerably and he wouldn’t be surprised as well to see a
$10 target down the road.
One thing about stories such as Oilexco and Pan Orient,
they’re not in Alberta, and right now with everyone wondering
what the resolution will be with the Royalty Reviews,
suddenly people are realizing there are other basins in the
world they might have to concentrate on.
One problem with the review in Alberta is if suggestions
are implemented, one agency suggests that Alberta goes
from being the 11th most rewarding basin to be exploring
in and could move it as low as 44 and suddenly there would
be other areas of the world the speculator would have to
become familiar with. Offshore Thailand obviously could
become one of them.



More to come

 

[1234]

Where's the link 1234?

Can you also please provide some more info on what 1265 is to get a 50c target.

Thanks.

last ann 1265bopd resulted in a sp increase of 34%

Tomorrow, a 1500bopd result, should in effect result in 'atleast' a 30% sp increase given the substantial volume. conservative estimate.


The company was valued at 32-72c given set production and success rates..

This latest total production volume was not forecast as coming into line until Jun '08.

Closing at a conservative 35.5c today ( once bitten from last week ) will see an open of +40c.

We have another well choked at 50bopd

Another well is being tested, results in 1 week.

I see no reason why this cannot be trading at 50c next week. The potential of this field is Immense!!!!

 

[Caliente]

Why does everyone keep forgetting to mention L44G-D1!!!

This little "duster" from the announcement that left us a little shy last week has come through to produce 100-200bopd of API-37 (light sweet crude ala Brent).