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EMR - Emerald Resources

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Re: EMR - Emerald Oil and Gas

EMR just announced.

they are 200m away from target and more elevated gases have been detected

looking good guys
 
Re: EMR - Emerald Oil and Gas

chicken8 said:
EMR just announced.

they are 200m away from target and more elevated gases have been detected

looking good guys
Click to expand...

Yeah bottom of the seal soaked in HC's bodes well doesn't it

What was with the sell down at the close yesterday?

Saw a 200k buyer sitting @ 27c just before I went to bed, wake up and its been sold down to 25.5 by some 50k fool at the end of the day

No heart

Don't you love weekends when TD is going to be reached .....................

Go EMR
 
Re: EMR - Emerald Oil and Gas

chicken8 said:
EMR just announced.

they are 200m away from target and more elevated gases have been detected

looking good guys
Click to expand...

Fingers crossed everyone. Hopefully, we will get a better idea by early next week. EMR has been pretty weak for the past few days following disappointing news in the US.
DYOR
 
Re: EMR - Emerald Oil and Gas

announcement out. they have reched the top of the primary target. i am unsure of what the actual specifics mean about the mud gas and the thin limestones. can anyone help me understand what this could potentially mean in terms of finding gas/oil?

thanks
 
Re: EMR - Emerald Oil and Gas

EMR share price has now fallen to 23c. I've become a bit impatient with this one and decided to sell out on Friday for a small profit. EMR has lost its momentum. It might well be the case that the market is betting against any major success in the Canning Basin. The recent announcment about the US being a dud has turned sentiment against it. Good luck to exisitng holders.
DYOR
 
Re: EMR - Emerald Oil and Gas

I am still holding. Gosh, I could have sold these at 30+plus cents a couple of times. I have held tight.


Jama

Apparently, tight limestones is a good thing.


I think at this stage share price has fallen on sentiment. Not on any actual news. It seems noone knows what it down there atm.

I wait for results which should surely be soon. At the end of the day, that is what is important.
 
Re: EMR - Emerald Oil and Gas


Morning gents,

MM -sentiment is very important atm isn't it

Not a lot we can read into this ann' imo however continuing gas shows would have been nice.

"Lithologies encountered are predominantly tight limestones
and minor claystones of Devonian age with minor mud gas
shows observed. The primary objective clastic units of the
Virgin Hills Formation have yet to be intersected".
 
Re: EMR - Emerald Oil and Gas


Momentum at this stage shouldn't really be a concern. Either we get hydrocarbons or we don't. tbh, Pandura should have taken a lot more shine off it than it did, I actually think it performed very well in the circumstances. I understand your sentiments though, I reduced additional exposure I took on after the initial series of gas shows when Pandura failed to come in - may as well keep that in reserve for stokes bay if valentine doesn't come in - but I've still got a core lot at 20.5 and 11.5 and looking forward to Stokes no matter what.
 
Re: EMR - Emerald Oil and Gas

moneymajix said:
Apparently, tight limestones is a good thing.
Click to expand...

indeed its a good thing, tight limestones means it would be harder for gas or oil to escape if there r any trapped there. the sell down isnt significant at all, i wouldnt be too worried if u r prepared to hold till the result.
 
Re: EMR - Emerald Oil and Gas

Indeed tight limestones above the target is interesting, but meaningless unless we start finding some favourable rock beneath.

For those wondering, the term 'tight' refers to rock that has low permeability - meaning that oil/gas can't flow through them easily. This makes tight limestones useful when looking for trapped hydrocarbons (it can help stop them getting away ).
 
Re: EMR - Emerald Oil and Gas

ARQ changed direction of drilling, why should they do that?
(someone at hotcopper called EGO, and they said this)
 
Re: EMR - Emerald Oil and Gas

Mitzter,

If you read the ARQ announcement I think that you will find that they are now "using" directional drilling to keep the drill string straight.

You may have already got this information from your many posts on the subject in other fora.

Regards,

Terry
 
Re: EMR - Emerald Oil and Gas

Just remember this is an exploration well, things don't always go to plan ( ie they have not yet encountered the structure they are looking for) - this also means things happen downhole that need to be addressed on a continuous basis, everything from lost circulation to getting stuck. Do not expect this well to be finished overnight or in the next few days!
 
Re: EMR - Emerald Oil and Gas

Momentum surely matters when EMR's share price keeps on falling. I took a small profit and have moved on. I was hoping to exit in the mid 30s but this wasn't to be.
DYOR
 
Re: EMR - Emerald Oil and Gas

I've been holding off selling this stock (among others) in the hope that the probable rate cuts in the US tonight (Aus time) would have a positive effect on the stockmarket tomorrow. Is anyone else in this line of thinking? I'm new to all this so don't shoot me down if I'm completely off base.
 
Re: EMR - Emerald Oil and Gas

The share price has fallen. We are closer to the TD.

Otherwise, we really don't know anything new.

 

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Re: EMR - Emerald Oil and Gas

I note that the share trader in the Melbourne Herald Sun has today added this share to his watch list as a buy on the premise that he believes it will break resistance @ 30 cents and can then rise to as high as 45 cents
 
Re: EMR - Emerald Oil and Gas

greenfs said:
I note that the share trader in the Melbourne Herald Sun has today added this share to his watch list as a buy on the premise that he believes it will break resistance @ 30 cents and can then rise to as high as 45 cents
Click to expand...
It will only reach 30 cents in the short term if they have some good news to report in the Canning Basin. And if they do then yeah, it probably won't stop there either... First they have to find the good stuff though.
 
Re: EMR - Emerald Oil and Gas

Share Trader in the Herald Sun was talking about ARE breaking 30 cents and then running to 45 cents, not EMR
 
Re: EMR - Emerald Oil and Gas

PALITO BLANCO PROJECT
DUVAL AND JIM WELLS COUNTIES, TEXAS
(Emerald earning 15% Working interest, Operator: Oso Exploration.)
Progress report at the Jaime Garcia Gas Unit #2 well as at 6.00 am 18
September 2007 (Texas time).
Current Depth: 6,350 feet. 7 5/8 inch intermediate casing set at
6,187 feet.
Current Activity: Running intermediate logs to evaluate
hydrocarbon shows in secondary objective
Hockley Sand section.
Planning to squeeze cement around
intermediate casing shoe prior to drilling ahead
to planned TD of 8,250 feet and evaluate
primary objective, Yegua sands.
The primary target Yegua 14 sand is anticipated
at 7,350 feet. Secondary target Yegua 15 and
21 sands anticipated between 7,600 and 8,200
feet. Proposed total depth is 8,250 feet.
Emerald Interest: Emerald is earning a 15% working interest in
this prospect.
Page 2
About Palito Blanco Prospect: Palito Blanco Prospect is located in the South
Texas Basin within Duval and Jim Wells Counties
some 120 miles south of San Antonio. It is
located within the prolific Yegua multiple-sand,
gas-producing fairway within Braman, Four
Seasons and Palito Blanco fault – separated
fields, which to date have produced 45+ BCF
gas and 1.0+ million barrels of condensate.
Some 400 acres are currently under lease within
a larger AMI. The current 8,250 foot well will
test the Yegua formation multiple-sand package
the lowest of which is the Y-21 sand.
Structurally there appears to be room for 3-4
wells around the original Jaime Garcia #1 well.
Total potential resources are approximately
10 BCF gas and 100,000+ barrels of
condensate. Further development potential
might emerge from the larger AMI (area of
mutual interest) with Oso Exploration
 
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