EMR - Emerald Resources

[moneymajix]

Re: EMR - Emerald Oil and Gas

Morning All

16 August 2007

PANDURA PROJECT DRILLING CONTRACT SIGNED
Emerald Oil & Gas NL (“Emerald”) is hereby announces that the operator of the
Pandura Prospect, Daytona Energy Corporation (TSX Venture: DTE) has signed a
drilling contract with Pioneer Drilling Co (PDC-Amex) to drill the Kathleen Marie
#2 well in Webb County, Texas. This well will be drilled to 8,500 feet to test
prospective Wilcox age sands and is expected to spud in late August 2007.
Emerald is pleased that drilling at the Pandura project, located in Webb County
USA, will soon be under way, with a reputable drilling contractor. Pioneer Drilling
will drill the well through open-hole logging on turnkey contract basis. This
approach reduces the mechanical drilling risk to the partners in the well, and at
the same time, is significantly less expensive than our estimated costs to drill on
day rate basis at the beginning of 2007.
Emerald will have earn a 15% working interest in the well by paying 21.18% of
the dry hole cost and 15.75% of the completion costs of the first well on the
project.

For more information please contact:
Emerald Oil & Gas NL Tel: +618 9482 0510

 

[UPKA]

Re: EMR - Emerald Oil and Gas

Yes, also keep in mind that they may not find anything in that hole too. The 40-50 or whatever, is in large part to success. The chances of that have been outlined previously. Let's not get ahead of ourselves, there is risk. Having said that, I darn well hope they find an elephant.

Hi Kennas, thats true, but thats the target price on 1 project only. EMR is pretty well diversified compared to EGO, its projects in US is small, but with high success rate. so with EGO at ~70m market cap on valentine alone, it think EMR is worth alot more than that.

 

[moneymajix]

Re: EMR - Emerald Oil and Gas

UPKA

I am seriously excited by the projects that EMR have.

Positive news is adding up -

1. Recommended by Resource Stocks mag
2. Intersuisse spec buy
3. Hartley's analysis couple days ago
4. Drilling in Pandura progressing - 80% chance of success


In summary -

Valentine" 1.1 TCF + Condensate. Drilling August
"Stokes Bay" 80 BCF + Condensate. Drilling September
"Hope Prospect" drilling August
"NW Alice" 100 BCF potential. More news soon.
"Pandura" 80% chance of success.


QUESTION:

What would success at Pandura do to the share price in terms of dollars and cents?

Cheers

 

[zt3000]

Re: EMR - Emerald Oil and Gas

Well it probably wont do anything if the markets keep doing their sell offs ...

Either there is some bad bad news coming or people are overreacting

 

[UPKA]

Re: EMR - Emerald Oil and Gas

Well it probably wont do anything if the markets keep doing their sell offs ...

Either there is some bad bad news coming or people are overreacting

Fear has no fundermentals, so even if they found something at valentine, and release the annoucement on days like this, i dont think it'll push the SP much... crazy times. ppl r saying finance sectors r getting hit the hardest, by the look of it now, its the resources sector...

 

[moneymajix]

Re: EMR - Emerald Oil and Gas

What a day!

More anns.



16 Aug 2007 14:23 EMR: Valentine 1 Drilling Report 3
16 Aug 2007 13:20 Update on the drilling of Valentine-1 2
16 Aug 2007 13:08 ARQ: Valentine-1 Update 2
16 Aug 2007 13:06 PCL: Valentine Drilling Report 2

earlier in the day

16 Aug 2007 08:27 ! Pandura Project - Drilling Contract Signed

 

[chicken8]

Re: EMR - Emerald Oil and Gas

this market correction/crash has really dented the progress of EMR

we're back to what we were a week ago.

having reached 33c inter day trading a couple of days ago. if the market remained stable, we would have been testing the 40c mark based on the announcements that came out today

lets see where we can go now.

 

[moneymajix]

Re: EMR - Emerald Oil and Gas

Morning All


Been a bit quiet on the EMR thread.

Low of 16c yesterday to currently 22c.

Haven't sold a single share. Hmm... in retrospect...

$4m in the bank and with a variety of projects, drilling now and more planned soon.


EDIT - make that 25c. Nice.

 

[bhutos]

Re: EMR - Emerald Oil and Gas

Aye, I didn't sell yesterday because I wasn't going to get caught up in the sillyness, the only thing annoying about that is that if I had have got in early I could have sold and got back in for quick 50% gains. The fear selling yesterday was ridiculous.

 

[UPKA]

Re: EMR - Emerald Oil and Gas

Another ann coming out of texas, working interest in a gas project. by the look of the drilling location, i think its a high success drill. looks like the company management likes to play it safe. get low risk project going, generate enuf cash flow, secure the company's future. Wise move for a junior explorer i reckon

 

[chicken8]

Re: EMR - Emerald Oil and Gas

i hate to be always saying it

but if this was a month ago we'd have seen 40c by now

this correction/crash really pisses me off!!

 

[chicken8]

Re: EMR - Emerald Oil and Gas

with 2 price sensitive good announcements since we were on a intra day high of 33c

and to see a low of 16c yesterday and to be sitting on 23c now

frustrating is an understatement

 

[moneymajix]

Re: EMR - Emerald Oil and Gas

Hi Chicken8

I was more frustrated when EMR was virtually stagnant and EGO was going bananas.

At least now we have more interest in the company. It is on a few more radars although, seemingly not as many as we would like.

I am holding and waiting.




Btw, Chicken, you look more like a doggy.

 

[morlock]

Re: EMR - Emerald Oil and Gas

Well, having sold all EMR at 33 cents....ive bought back in today the same amount at the same price I started with after further promising announcements.....the whipping on miners should hopefully not affect EMR's share price too much.....my gold and uranium based miners have taken a very large fall.

 

[greggy]

Re: EMR - Emerald Oil and Gas

With market sentiment being so poor, EMR looks even better value (for a spec trade) now having fallen from its recent high of 33c. Its amazing how EGO is still much more expensive than EMR. EMR also has good cash levels and very interesting US interests. Of course, this is certainly not the stock for the mums and dads out there as oil and gas exploration is very much hit and miss (more often miss!). Nonetheless EMR looks like being the best entry point for both Valentine and Stokes Bay. Good luck to all holders. I think we're due for some considering recent market volatility.
DYOR

 

[zt3000]

Re: EMR - Emerald Oil and Gas

The oppies did alright today ... couple nice sized parcels went through ...

Now with regular announcements coming on the market and drilling updates IMO it will be an interesting time for EMR ...

 

[greggy]

Re: EMR - Emerald Oil and Gas

As EMR and Co get closer to the target it will be interesting to see the effect on their share prices. As EMR has already stated it offers the greatest leverage to any successful outcome.
Waiting patiently. Hopefully the world's markets will start to calm down a bit.
DYOR

 

[moneymajix]

Re: EMR - Emerald Oil and Gas

ARC Energy representative interveiwed on AM program on ABC Radio this morning re Canning Basin.

I will post a link to the transcript when it appears on the ABC website.

 

[moneymajix]

Re: EMR - Emerald Oil and Gas

http://www.abc.net.au/am/content/2007/s2011552.htm

Companies vie for slice of Kimberley
AM - Wednesday, 22 August , 2007 08:04:00
Reporter: David Weber

.....

Arc Energy is looking at a massive area in the Kimberley. Arc's Managing Director is Eric Streitberg.

ERIC STREITBERG: Our estimates run from relatively small quantities up to trillions of cubic feet of gas, which will be enough to supply Perth for 10 or 15 years.

DAVID WEBER: It's a fairly expansive area, 75,000 square kilometres that Arc Energy will be looking at. Why hasn't this been done before? Why hasn't this resource been exploited before?

ERIC STREITBERG: Basically because of its remoteness and the lack of a market for gas reserves. That's changed dramatically in the last three or four years as the West Australian resources boom has kicked off and there's been enormous upsurge in demand for gas. So if we do find any gas, we can now sell it and sell it at a good price.

DAVID WEBER: Do you envisage drilling across a wide area of the north-west, then?

ERIC STREITBERG: We certainly do, it's a geological area called the Canning Basin, which basically runs east from the coast between Broome and Derby and goes inland for three or 400 kilometres and we'll certainly be exploring right across that area. It's a very large area and it's quite a task for us but we think that with the application of modern technology, we've got a pretty good shot at finding something.

DAVID WEBER: Mr Streitberg says any gas that's found is expected to come on stream in 2010 or 2011, just in time for the start up of some iron ore projects in the area.

 

[greggy]

Re: EMR - Emerald Oil and Gas

http://www.abc.net.au/am/content/2007/s2011552.htm

Companies vie for slice of Kimberley
AM - Wednesday, 22 August , 2007 08:04:00
Reporter: David Weber

.....

Arc Energy is looking at a massive area in the Kimberley. Arc's Managing Director is Eric Streitberg.

ERIC STREITBERG: Our estimates run from relatively small quantities up to trillions of cubic feet of gas, which will be enough to supply Perth for 10 or 15 years.

DAVID WEBER: It's a fairly expansive area, 75,000 square kilometres that Arc Energy will be looking at. Why hasn't this been done before? Why hasn't this resource been exploited before?

ERIC STREITBERG: Basically because of its remoteness and the lack of a market for gas reserves. That's changed dramatically in the last three or four years as the West Australian resources boom has kicked off and there's been enormous upsurge in demand for gas. So if we do find any gas, we can now sell it and sell it at a good price.

DAVID WEBER: Do you envisage drilling across a wide area of the north-west, then?

ERIC STREITBERG: We certainly do, it's a geological area called the Canning Basin, which basically runs east from the coast between Broome and Derby and goes inland for three or 400 kilometres and we'll certainly be exploring right across that area. It's a very large area and it's quite a task for us but we think that with the application of modern technology, we've got a pretty good shot at finding something.

DAVID WEBER: Mr Streitberg says any gas that's found is expected to come on stream in 2010 or 2011, just in time for the start up of some iron ore projects in the area.

Thanks moneymajix for the info. Today I bought a reasonable holding of shares. EMR seems to be finding some momentum once again and is up 1.5c today on reasonable turnover. As has been already stated already EMR offers the best potential leverage to success at both Valentine and Stokes. Its well cashed up and is also an active oil and gas explorer in the US. Its also comforting to know that Intersuisse has placed a SPEC BUY rating on it. Hartley's research also looks very interesting, along with positive coverage in the June edition of Resource Stocks.
DYOR