EMR - Emerald Resources

[doctorj]

Re: EMR - Emerald Oil and Gas

why are they testing from 800m to 2500m .. thats a large interval ... obviously not all gas but enought to feel the need to test the entire length ...

The way I read it is that they were testing over that interval, but not necessarily the whole 1700m. Happy to be corrected.

 

[jama_kj]

Re: EMR - Emerald Oil and Gas

i think it could be a very good day tomorrow with the expectation of news (IMO we are likely to hear about the wireline tomorrow) and with the Dow likely to be in the green tonight (based on the dow futures).

let's hope i get some sleep tonight:

good luck ppl

 

[jtb]

Re: EMR - Emerald Oil and Gas

Why are they stalling for time ... well thats what it looks like to me .. probably looking at monday/tuesday by the time we get results of the wire logging ...

why are they testing from 800m to 2500m .. thats a large interval ... obviously not all gas but enought to feel the need to test the entire length ...

wait and see i guess

zt, No stalling for time imo, they've pulled a lot of gear in and out of the ground to run these tests and don't underestimate the significance of it as its not a cheap day out nor is it done on a whim. Obviously ARQ are being thorough as anything of interest in this well will assist their understanding of the geology.
From the sound of it we've got 20 or 30 metres of shows which is nothing to sneeze at and it is also in an untargeted structure which I think may be shales. I'm wondering if theres not a sniff of complex HC's (oil) in there to prompt the wireline?

Hopefully a close up through 33c will be significant (in my rudimentary tech).

Whoever grabbed the options this arv'y appears to be of the same opinion

 

[moneymajix]

Re: EMR - Emerald Oil and Gas

JTB

Thanks for the chart.



What is the previous high? High 30s?

Surpassing the previous high would be another milestone.


LOL, all.

 

[greggy]

Re: EMR - Emerald Oil and Gas

1.6 million shares is not much in real money (about AUD 500k) so you wouldn't need that many players to accomplish that. No serious daytraders have entered the arena yet imo - I'd like to see over 4 million shares traded a day...

Turnover has been building of late along with a rising share price. Yesterday turnover of well over 2 million shares isn't bad at all considering that well over 3% of EMR's shares were traded. Also, those who bought around a week at around the 22c mark wouldn't be complaining with its performance. The current share is now over 30% higher than a week ago. A number of traders have entered the arena, many of whom established their positions when things were quiet.
DYOR

 

[moneymajix]

Re: EMR - Emerald Oil and Gas

Ann. - Update

Several strong gas peaks were recorded from monitoring
gas in the drilling fluids (“mud gas”) over the interval 2240 to
2470m measured depth (MD). These were considered
sufficiently material to warrant an intermediate wireline
logging run over the gross open-hole interval 809m to 2589m
MD, and this has now been completed.

Preliminary analysis of the wireline log results indicates the
presence of porous (15%) and permeable sandstones of the
Lower Anderson Formation over the gross interval 2100 to
2260 m MD. A preliminary interpretation of the electric logs
and MDT results indicates low hydrocarbon saturations,
including the zones of strong mud gas shows at 2240 m to
2260m MD. These Lower Anderson sands and their lateral
equivalents are the primary target of the Stokes Bay 1 well,
which will target them in a crestal location on the structure.
Please note that at Valentine-1 the secondary reservoir
objective Anderson Formation sands are not mapped within
closure. This 160 metre gas show interval in Valentine-1
within the Anderson Formation enhances the prospectivity of
these objectives in the updip location in the Stokes Bay-1
well.

The Stokes Bay 1 well will be drilled following Valentine 1.
The strong mud-gas shows in the deeper Laurel Fm (2400 m
to 2470m MD) are interpreted as being associated with a
series of organic rich tight carbonates and shales.
The results to date at Valentine 1 are very encouraging for
the prospectivity of the updip Stokes Bay well, and also for
the regional prospectivity of the Basin as they confirm the
presence of a significant hydrocarbon system in the Fitzroy
Trough of the greater Canning Basin, and have confirmed
the presence of reservoir quality sands and high quality
shale seals.

Since wireline logging, at 0600 hrs today, the well has been
deepened by 106m (to 2695mMD) towards the Virgin Hills
primary objective prognosed at 3222mMD. In drilling the
additional 106m, further elevated gas readings have been
recorded, and these have yet to be evaluated.

 

[chicken8]

Re: EMR - Emerald Oil and Gas

any geologists able to tell us what this all means?

i guess they're continuing the drilling and more gases have been found. so thats some good news

 

[greggy]

Re: EMR - Emerald Oil and Gas

any geologists able to tell us what this all means?

i guess they're continuing the drilling and more gases have been found. so thats some good news

I'm a bit dumbfounded as well chicken8 with this one. It seems like encouraging news though. EMR finished up 1c today to 30c on reasonable volume. Given that there was plenty of red out there, it wasn't a bad day today for EMR.
DYOR

 

[moneymajix]

Re: EMR - Emerald Oil and Gas

From PCL Ann. today

Pancontinental General Manager, Matthew Battrick said: “Preliminary analysis of the wireline log
and pressure measurements by the Operator suggests low hydrocarbon saturations over the
interval containing the strong mud gas shows between 2240 m to 2260m MD. These Lower
Anderson Formation sands and their lateral equivalents are the primary target of the Stokes Bay 1
well, which will target them in a more crestal location on the structure. The Stokes Bay 1 well will
be drilled following Valentine 1.”

“The strong mud-gas shows in the deeper Laurel Fm (2400 m to 2470m MD) are interpreted by
the Operator as being associated with a series of organic rich, tight carbonates and shales. The
significance of this interval will require further evaluation in the Stokes Bay-1 well bore as similar
formations in basins in North America have the potential to produce gas at commercial rates”
Matthew said.

 

[doctorj]

Re: EMR - Emerald Oil and Gas

I've only had a quick skim of the announcement, but I'd say it was on balance positive for the JV. Essentially gas was intersected at levels similar to what is intended to be targetted by the Stokes Bay sidetrack, which, as the announcement says, increases the prospectivity of Stokes Bay.

There's a good chance the heavy mudweight they've used would have adversely affected the results of the wireline logs. In general, the comment about porosity and permeability is encouraging.

It doesn't speak much for the prospects of the riskier Valentine target (positive or negative) aside from evidence of an active hydrocarbon system.

I know some traders will be disappointed by the announcement, but realistically they'd have been disappointed with anything less than the most bullish announcements about the Canning Basin and the well immediately being cased for production at the Anderson levels.

 

[greggy]

Re: EMR - Emerald Oil and Gas

I've only had a quick skim of the announcement, but I'd say it was on balance positive for the JV. Essentially gas was intersected at levels similar to what is intended to be targetted by the Stokes Bay sidetrack, which, as the announcement says, increases the prospectivity of Stokes Bay.

There's a good chance the heavy mudweight they've used would have adversely affected the results of the wireline logs. In general, the comment about porosity and permeability is encouraging.

It doesn't speak much for the prospects of the riskier Valentine target (positive or negative) aside from evidence of an active hydrocarbon system.

I know some traders will be disappointed by the announcement, but realistically they'd have been disappointed with anything less than the most bullish announcements about the Canning Basin and the well immediately being cased for production at the Anderson levels.

Thanks doctorj for your input. It does seem like encouraging news. Evidence of an active hydrocarbon system is positive news.
DYOR

 

[jtb]

Re: EMR - Emerald Oil and Gas

I've only had a quick skim of the announcement, but I'd say it was on balance positive for the JV. Essentially gas was intersected at levels similar to what is intended to be targetted by the Stokes Bay sidetrack, which, as the announcement says, increases the prospectivity of Stokes Bay.

There's a good chance the heavy mudweight they've used would have adversely affected the results of the wireline logs. In general, the comment about porosity and permeability is encouraging.

It doesn't speak much for the prospects of the riskier Valentine target (positive or negative) aside from evidence of an active hydrocarbon system.

I know some traders will be disappointed by the announcement, but realistically they'd have been disappointed with anything less than the most bullish announcements about the Canning Basin and the well immediately being cased for production at the Anderson levels.

I agree Hatchetman,

Stokes looks very positive now and if that big fat 'Clanmeyer' trap is any good
then we've got an even better chance of some juice in Valentine.

Nice if we can get some US gas ann's rolling in too

MC catching up to EGO would put a smile on my face too though

 

[Col Lector]

Re: EMR - Emerald Oil and Gas

EMR price-sensitive ann just being released.....! Texas results maybe??Could give the SP a jolt if positive, particularly in addition to Valentine shows to date...TRADING HALT

 

[zt3000]

Re: EMR - Emerald Oil and Gas

We've got noticed received. Probably from one of the US wells .. lets wait an see Pandura probably


TRADING HALT ... TOOT TOOT ... lol .. hopefully they dont announce a duster lol

 

[greggy]

Re: EMR - Emerald Oil and Gas

We've got noticed received. Probably from one of the US wells .. lets wait an see Pandura probably


TRADING HALT ... TOOT TOOT ... lol .. hopefully they dont announce a duster lol

So the company has called for a trading halt. Hopefully, it will be good news, most likely dealing with its US wells. EMR is cashed up at present so I'd be surprised if it had anything to do with funding issues.
DYOR

 

[chicken8]

Re: EMR - Emerald Oil and Gas

its too early for the texas drill results

the other partners in canning basin are unaffected so we know its not valentine

drilling usually gets delayed so i was expecting texas results next week.

so i really don't know

i'm kinda hoping its NOT a takeover bid but at this point just hoping for good news really

 

[MS+Tradesim]

Re: EMR - Emerald Oil and Gas

Chicken,

I don't think it's too early for Texas results from at least one well. I did a few calculations based on drilling depths and time taken and I figured without delays at least one of the Texas wells could be at total depth by now. In any case I guess we'll know soon enough.

 

[rub92me]

Re: EMR - Emerald Oil and Gas

So the company has called for a trading halt. Hopefully, it will be good news, most likely dealing with its US wells. EMR is cashed up at present so I'd be surprised if it had anything to do with funding issues.
DYOR

Agree it is not a funding issue, but it could be a funding opportunity to capitalise on recent increase in shareprice. I would be very disappointed if that was the case, however these 'mates rates' deals are quite common.

 

[zt3000]

Re: EMR - Emerald Oil and Gas

its too early for the texas drill results

the other partners in canning basin are unaffected so we know its not valentine

drilling usually gets delayed so i was expecting texas results next week.

so i really don't know

i'm kinda hoping its NOT a takeover bid but at this point just hoping for good news really

What makes you think its a takeover bid? Why EMR, they dont really have anything concrete as yet

 

[chicken8]

Re: EMR - Emerald Oil and Gas

i've got nothing to base it on

it was just the first thing that came to my head when i saw the trading halt

i'd prefer to wait for the announcements from the texas drills and canning basin