EMR - Emerald Resources

[chicken8]

Re: EMR - Emerald Oil and Gas

could be an order that was not completed from yesterday

all of it was executed except for 90 and they just amended it to market or 20c just to complete that sell

 

[greggy]

Re: EMR - Emerald Oil and Gas

EMR is currently up 2c today to 24c. The turnover has been low though. Still interest seems to be increasing. Hopefully, there will be some positive news coming out during the next week or so in relation to Valentine 1 (a high risk well). EMR is also drilling in the US as we speak. Fingers crossed.
DYOR

 

[chicken8]

Re: EMR - Emerald Oil and Gas

drilling update just came out for the Canning Basin partners

"Further drilling through the claystones and limestones of the
Fairfield Group has revealed additional elevated gas
readings at 2295m, 2354m, 2404m, 2415m and 2470m MD,
each representing an interval of several metres. A wiper trip
is presently being run to condition the hole prior to running
an intermediate wireline logging suite to evaluate the
significance of these hydrocarbon indications"

 

[Parag0n]

Re: EMR - Emerald Oil and Gas

Major potential, 3 wells drilling... Valentine on the tail end of drilling with elevated gas levels reported in latest announcement.... Market cap is tiny -only 50mil~ shares on issue, potential for a multi bagger here.

 

[jama_kj]

Re: EMR - Emerald Oil and Gas

looks like they are running a bit behind schedule, but am willing to sit through this one.

ego up to 3c after the announcement from a low of 2.5c, hopefully EMR continues its rise

good luck holders

 

[chicken8]

Re: EMR - Emerald Oil and Gas

it looks like they've stopped the drilling

from the graph in the announcement you can see they haven't progressed in 3 days

perhaps they're going to analyse the gases and then proceed to target depth

 

[zt3000]

Re: EMR - Emerald Oil and Gas

Ready Set EXPLODE! Some good interest in the stock today Happy Days

LoL

good indications ... but why have they stopped drilling?

 

[chicken8]

Re: EMR - Emerald Oil and Gas

"A wiper trip
is presently being run to condition the hole prior to running
an intermediate wireline logging suite to evaluate the
significance of these hydrocarbon indications"

i think thats the reason they stopped drilling

i don't know what a "wiper trip" is but i assume that would require drilling to cease?

 

[zt3000]

Re: EMR - Emerald Oil and Gas

The thing is, with only 50mill shares on issue, take about substantial holders, there is really not that much liquidity, so when this baby moves, it will be huge, be it down or up!

 

[rub92me]

Re: EMR - Emerald Oil and Gas

The 40 unit joker is at it again, this time artificially driving up the price. Shows you that you don't need much money to play around with the price

 

[zt3000]

Re: EMR - Emerald Oil and Gas

"A wiper trip
is presently being run to condition the hole prior to running
an intermediate wireline logging suite to evaluate the
significance of these hydrocarbon indications"

i think thats the reason they stopped drilling

i don't know what a "wiper trip" is but i assume that would require drilling to cease?

Normal procedure. drill/evaluate/drill/evaluate

First you drill>clean the hole up to remove debris (wiper trip)>log (evaluate with sensors etc)

Well, they intersected 5 'several metre' thick layers... how thick we dunno.

Additional may indicate unexpected... ie found more than they were planning on... but

Realistically... you could intersect 100 layers, each 20m thick, but if the rock is bad or there is no pressure you cant do anything with it...

Basically, the info you get while you drill is an indicator of size, but the only firm info about QUALITY will come from wireline logs, and quality more important than size....or so the ladies say.


So.... they have written it to look like good news, but it is not confirmed yet, but they obviously dont want to indicate that.

 

[zt3000]

Re: EMR - Emerald Oil and Gas

With the Stock at 26c, does that make the EMRO at 13c cheap? or at least 2c behind the stock price? Not very good at valuing options hahah

 

[greggy]

Re: EMR - Emerald Oil and Gas

drilling update just came out for the Canning Basin partners

"Further drilling through the claystones and limestones of the
Fairfield Group has revealed additional elevated gas
readings at 2295m, 2354m, 2404m, 2415m and 2470m MD,
each representing an interval of several metres. A wiper trip
is presently being run to condition the hole prior to running
an intermediate wireline logging suite to evaluate the
significance of these hydrocarbon indications"

It will be interesting to find out the significance of these hydrocarbon indications. This was not the primary target and it will be interesting to see what unravels. It could well prove to be a bonus although its too early to tell. EMR's shares has risen as high as 26c today on reasonable turnover. Perhaps a number of punters liked today's announcement. Any other thoughts?
DYOR

 

[rub92me]

Re: EMR - Emerald Oil and Gas

With the Stock at 26c, does that make the EMRO at 13c cheap? or at least 2c behind the stock price? Not very good at valuing options hahah

Company options tend to 'lag' the shareprice movement and are more volatile, especially with low volumes traded. They're only 'cheap' if you manage to sell them on at a better price. That's why I only dabble in them with small parcels.

 

[greggy]

Re: EMR - Emerald Oil and Gas

PCL have just come out with an announcement in relation to Valentine 1.
In it Pancontinental (PCL) General Manager, Matthew Battrick said: “Drilling and evaluation operations are continuing; we are currently 23 days into the well and still around a week away from the primary target, if penetration rates remain the same as we near the total depth of this well”.
“The six zones of gas shows now recorded from around 2,250 to 2470mRT constitute a significant interval in a section of the stratigraphy that was not considered our primary target. This is very encouraging news and the entire interval is in need of urgent wireline log evaluation, prior to deepening the well to the primary target.” Matthew said.
EMR is best positioned in terms of share price leverage for any possible success. Hence, EMR had a good day finishing at 26c (up 4c for the day).
DYOR

 

[Parag0n]

Re: EMR - Emerald Oil and Gas

PCL have just come out with an announcement in relation to Valentine 1.
In it Pancontinental (PCL) General Manager, Matthew Battrick said: “Drilling and evaluation operations are continuing; we are currently 23 days into the well and still around a week away from the primary target, if penetration rates remain the same as we near the total depth of this well”.
“The six zones of gas shows now recorded from around 2,250 to 2470mRT constitute a significant interval in a section of the stratigraphy that was not considered our primary target. This is very encouraging news and the entire interval is in need of urgent wireline log evaluation, prior to deepening the well to the primary target.” Matthew said.
EMR is best positioned in terms of share price leverage for any possible success. Hence, EMR had a good day finishing at 26c (up 4c for the day).
DYOR

I really like PCL's General Manager agenda, he seems pretty upbeat about the wireline development... the funny thing is that they still have a couple hundred meters to dig so who knows whats at the bottom

 

[jtb]

Re: EMR - Emerald Oil and Gas

i don't know what a "wiper trip" is but i assume that would require drilling to cease?

Chicken hit the hyperlink and scroll down scroll down to 'W'.

As zt said, a wiper trip is to clear the hole (also called reaming) where you back the bit out through the zones of interest to clear the chips, fluid etc. So your instruments can do they're thing.
So yes definately not drilling atm

http://www.glossary.oilfield.slb.com/search.cfm

Very happy with the ann' as it shows the marine member is also shaley and we're still above the valentine trap. Note that the Valentine source is proven elsewhere (but I haven't found if its the same formation overlaying yet)
Maybe Dr J or someone can clarify, I really should do some study

 

[zt3000]

Re: EMR - Emerald Oil and Gas

The selling depth is crazy thin! If someone wants to buy a large parcel, they going to have to pay a nice premium for it. Moving up again this morning. As are the oppies

 

[bhutos]

Re: EMR - Emerald Oil and Gas

I'm glad I picked more up at 20.5c the other week. And with EGO is standing completely still.. it's like people are finally waking up to the fact that EMR had 3 times the leverage. It's been a long wait.. and it will be another long week + but it's finally looking to be worth it.

 

[zt3000]

Re: EMR - Emerald Oil and Gas

Grabbed This from the most reliable source in the world .. lol HotCopper

Dont know how true or how much of a ramp it is but interesting read non the less.

"Interesting bit of gossip from a poster on another site states "they can not drill ahead and control the well, too much gas, mud weight at 11 ppg to hold the gas in, increase the mud weight and suffer mud losses due being above the fracture gradient of the rock." This has alledgedly come from Eric S., Andy P. and Neil T.
Don't know how credible this is, but it would explain the change of plans to do an intermediate wirelog.
Just My Opinion, Do Your Own Research. "