EMR - Emerald Resources
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doctorj
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Re: EMR - Emerald Oil and Gas
This is relevent to holders of PCL, EMR, EGO & FAR.
The image image shows the size of the trap targetted by Stokes Bay based on minimum (p90), most likely (p50) and maximum conditions (p10).
Reserves under each are
p90 - 3.8mmbo
p50 - 20.5mmbo
p10 - 39.1mmbo
This PDF makes an interesting read for anyone heavily invested to get a better understanding of the nature of the Valentine drill.
Available: http://www.phoenix-resources.com/PR_Plc_36/Reports/Report-Valentine R1 & L98-1.pdf
Thanks to Omega for the link.
This is relevent to holders of PCL, EMR, EGO & FAR.
The image image shows the size of the trap targetted by Stokes Bay based on minimum (p90), most likely (p50) and maximum conditions (p10).
Reserves under each are
p90 - 3.8mmbo
p50 - 20.5mmbo
p10 - 39.1mmbo
This PDF makes an interesting read for anyone heavily invested to get a better understanding of the nature of the Valentine drill.
Available: http://www.phoenix-resources.com/PR_Plc_36/Reports/Report-Valentine R1 & L98-1.pdf
Thanks to Omega for the link.
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Re: EMR - Emerald Oil and Gas
Thank you very much for the PDF. I've been wondering how to calculate the chances of gas over oil to weight in the analysis. Strachan seems to have been overly optimistic by weighing too heavily in favour of oil, and even then what would seem like a strange amount - 1.2tcf or 200mmbbls into .6tcf and 150mmb. Besides weighting it 50/50 the ratio looks like it should be .6tcf and 100mmbbls, not 150.
Arc them selves are saying 380-1000bcf and 19mmbbls..
Thank you very much for the PDF. I've been wondering how to calculate the chances of gas over oil to weight in the analysis. Strachan seems to have been overly optimistic by weighing too heavily in favour of oil, and even then what would seem like a strange amount - 1.2tcf or 200mmbbls into .6tcf and 150mmb. Besides weighting it 50/50 the ratio looks like it should be .6tcf and 100mmbbls, not 150.
Arc them selves are saying 380-1000bcf and 19mmbbls..
Re: EMR - Emerald Oil and Gas
Oh, bullseye : http://www.ga.gov.au/image_cache/GA9155.pdf
After a brief glance, one tidbit is that looking into the virgin hills formation specific to Valentine, the Meda 1 well to the east in L05-8 did show a small amount of oil in a test drill back in the 40's but wasn't commercial. Good bedtime reading.
Oh, bullseye : http://www.ga.gov.au/image_cache/GA9155.pdf
After a brief glance, one tidbit is that looking into the virgin hills formation specific to Valentine, the Meda 1 well to the east in L05-8 did show a small amount of oil in a test drill back in the 40's but wasn't commercial. Good bedtime reading.
Re: EMR - Emerald Oil and Gas
Remember in the 1940's crude was only $17 US/barrel .. now its $70 ... so what wasn't commercial back then could possibly be now ... and also technology has come a long way in 60 years ...
Remember in the 1940's crude was only $17 US/barrel .. now its $70 ... so what wasn't commercial back then could possibly be now ... and also technology has come a long way in 60 years ...
doctorj
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Re: EMR - Emerald Oil and Gas
Also, they could have intersected the sands downdip and missed the oil. Or drilled on the wrong side of the fault? Who knows? Do you have the long/lat of the hole?
Re: EMR - Emerald Oil and Gas
The latest drilling log in the EMR ann states the co-ordinates as
17 08 23.46S 123 42 32.4 E. I looked at in Google Earth and the site in near a creek channel. At least it shows generally where the site is located. No Maccas nearby.
Cheers
DYOR
The latest drilling log in the EMR ann states the co-ordinates as
17 08 23.46S 123 42 32.4 E. I looked at in Google Earth and the site in near a creek channel. At least it shows generally where the site is located. No Maccas nearby.
Cheers
DYOR
Re: EMR - Emerald Oil and Gas
A director of EGO sold all of his ordinary shares today (6.5 mil). Leaving a holding of 6.5mil options.
There must be about 1000m of drilling left to reach the target. Does anyone know if it's possible to tell this early if the drill will be succesful?
I hope he REALLY needed the money but seems strange he couldn't wait another week or so if the drill was promising.
A director of EGO sold all of his ordinary shares today (6.5 mil). Leaving a holding of 6.5mil options.
There must be about 1000m of drilling left to reach the target. Does anyone know if it's possible to tell this early if the drill will be succesful?
I hope he REALLY needed the money but seems strange he couldn't wait another week or so if the drill was promising.
Re: EMR - Emerald Oil and Gas
EGO is overvalued atm purely based on speculation, the directors wont know whats down there, so they r probably reducing their exposure too. it says nothing really/
A director of EGO sold all of his ordinary shares today (6.5 mil). Leaving a holding of 6.5mil options.
There must be about 1000m of drilling left to reach the target. Does anyone know if it's possible to tell this early if the drill will be succesful?
I hope he REALLY needed the money but seems strange he couldn't wait another week or so if the drill was promising.
EGO is overvalued atm purely based on speculation, the directors wont know whats down there, so they r probably reducing their exposure too. it says nothing really/
Re: EMR - Emerald Oil and Gas
In an untested field, there is absolutely no chance of them knowing what is in the ground ... for all they know it could be sand and water .. not saying that it is.
Could the EGO director be accumulating stock elsewhere .. ie EMR which has far greater leverage?
Is it possible to see this?
A director of EGO sold all of his ordinary shares today (6.5 mil). Leaving a holding of 6.5mil options.
There must be about 1000m of drilling left to reach the target. Does anyone know if it's possible to tell this early if the drill will be succesful?
I hope he REALLY needed the money but seems strange he couldn't wait another week or so if the drill was promising.
In an untested field, there is absolutely no chance of them knowing what is in the ground ... for all they know it could be sand and water .. not saying that it is.
Could the EGO director be accumulating stock elsewhere .. ie EMR which has far greater leverage?
Is it possible to see this?
Re: EMR - Emerald Oil and Gas
Food for thought ZT. Would be a savy move, especially if his initial sell manages to spook investors in other JV patners so he can buy at cheap prices
Food for thought ZT. Would be a savy move, especially if his initial sell manages to spook investors in other JV patners so he can buy at cheap prices
Re: EMR - Emerald Oil and Gas
Good point zt, don't know much about this, but couldn't that be classified as borderline illegal insider trading?
Good point zt, don't know much about this, but couldn't that be classified as borderline illegal insider trading?
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Re: EMR - Emerald Oil and Gas
That is an interesting point.
Probably our friend who found out about EGO being sold out by a director could throw light on if the same person was seen as buying EMR.
One more thing there is always a lead time between market gets the result and the drill samples communicated to directors through machine operators, geos etc. So a smart director always will have his or her own people to advise on drilling result as unconfimred so that the shares can be sold.
That is not unusual however
Regards
That is an interesting point.
Probably our friend who found out about EGO being sold out by a director could throw light on if the same person was seen as buying EMR.
One more thing there is always a lead time between market gets the result and the drill samples communicated to directors through machine operators, geos etc. So a smart director always will have his or her own people to advise on drilling result as unconfimred so that the shares can be sold.
That is not unusual however
Regards
Re: EMR - Emerald Oil and Gas
If this is directed at me I point out that the info is available in ASX anns, which I read while following the CB drill in general.
I allready hold EMR.
If this is directed at me I point out that the info is available in ASX anns, which I read while following the CB drill in general.
I allready hold EMR.
Re: EMR - Emerald Oil and Gas
It's highly unlikely he'd sell out at a nice profit and then gamble it all again.
The thing is, if the mean scenario of 440bcf gas and 24 mmbbl oil eventuates, the discovery value of ego shares are 5c each. Until a month or so ago the shares were .7 cents.. essentially ego stock is almost valued (60% with the .7 premium, 70% just on discovery) as though they have actually struck a commercial deposit at the average estimate - what is the chance of that? 5%?. @ 3.5c the directors would be silly not to take the money and run. Thats on the fundamentals though. With ego and the lack of reason involved theres no reason it wouldn't go to 10c on a 5c discovery
The only variable here is oil and the upside potential.
It's highly unlikely he'd sell out at a nice profit and then gamble it all again.
The thing is, if the mean scenario of 440bcf gas and 24 mmbbl oil eventuates, the discovery value of ego shares are 5c each. Until a month or so ago the shares were .7 cents.. essentially ego stock is almost valued (60% with the .7 premium, 70% just on discovery) as though they have actually struck a commercial deposit at the average estimate - what is the chance of that? 5%?. @ 3.5c the directors would be silly not to take the money and run. Thats on the fundamentals though. With ego and the lack of reason involved theres no reason it wouldn't go to 10c on a 5c discovery
The only variable here is oil and the upside potential.
Re: EMR - Emerald Oil and Gas
On further reading the chart which showed hydrocarbons (gas) on the Meda-1 drill in Virgin Hills fm is incorrect. Further down it specifies Nullara - the layer above. The oil from the drill was produced in Laurel further above again.
However we have bitumen shows in Babrongan No. 1 15th July 1962
On further reading the chart which showed hydrocarbons (gas) on the Meda-1 drill in Virgin Hills fm is incorrect. Further down it specifies Nullara - the layer above. The oil from the drill was produced in Laurel further above again.
However we have bitumen shows in Babrongan No. 1 15th July 1962
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Re: EMR - Emerald Oil and Gas
ANN.
PANDURA PROSPECT SPUDS FIRST WELL
Emerald Oil & Gas NL (“Emerald”) is pleased to announce the spudding of the
Kathleen Marie # 2 well at the Pandura prospect in Texas, USA.
PANDURA PROSPECT
WEBB COUNTY, TEXAS
(Emerald earning 15% Working interest, Operator: Daytona Energy
Corporation.)
Progress report on the Kathleen Marie #2 well as at 6.00 am 26 August 2007
(Texas time).
Current Depth: 400 feet. Well spudded 9.00 pm on 25 August
2007.
Operation: Drilling 12 1/4 inch hole to 1,000 feet where 9
5/8 inch casing will be set.
The primary target Lobo 6400 sand is anticipated
at 6,400 feet. Secondary target Lobo and Navarro
sands at varying depths. Proposed total depth is
8,500 feet.
Emerald Interest: Emerald will have 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.
About Pandura Prospect:
The Pandura prospect is located in the centre of
the Lobo Gas Trend in Webb County, Texas, near
the US / Mexican border. It lies within the Maria H.
Llanos gas field. The Kathleen Marie #2 well is a
“step-out development well” rather than an
exploratory well. The main target of this test is
the “6400 sand” which is probably
stratigraphically equivalent to what is usually
termed the “Lobo 1 Sand”. Secondary targets
include Lobo 3 and Lobo 6 sand packages as well
as the underlying Navarro Sand. Total potential
resources are estimated at 20 BCF of gas.
ANN.
PANDURA PROSPECT SPUDS FIRST WELL
Emerald Oil & Gas NL (“Emerald”) is pleased to announce the spudding of the
Kathleen Marie # 2 well at the Pandura prospect in Texas, USA.
PANDURA PROSPECT
WEBB COUNTY, TEXAS
(Emerald earning 15% Working interest, Operator: Daytona Energy
Corporation.)
Progress report on the Kathleen Marie #2 well as at 6.00 am 26 August 2007
(Texas time).
Current Depth: 400 feet. Well spudded 9.00 pm on 25 August
2007.
Operation: Drilling 12 1/4 inch hole to 1,000 feet where 9
5/8 inch casing will be set.
The primary target Lobo 6400 sand is anticipated
at 6,400 feet. Secondary target Lobo and Navarro
sands at varying depths. Proposed total depth is
8,500 feet.
Emerald Interest: Emerald will have 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.
About Pandura Prospect:
The Pandura prospect is located in the centre of
the Lobo Gas Trend in Webb County, Texas, near
the US / Mexican border. It lies within the Maria H.
Llanos gas field. The Kathleen Marie #2 well is a
“step-out development well” rather than an
exploratory well. The main target of this test is
the “6400 sand” which is probably
stratigraphically equivalent to what is usually
termed the “Lobo 1 Sand”. Secondary targets
include Lobo 3 and Lobo 6 sand packages as well
as the underlying Navarro Sand. Total potential
resources are estimated at 20 BCF of gas.
Re: EMR - Emerald Oil and Gas
Its far too early at this stage to tell if the drill will be successful. Infact, its impossible.
The EGO director most probably took some profits off the table. I thought about buying into EGO, but decided to buy EMR instead. In the event of any success at Valentine 1 and/or Stokes Bay 1 EMR offers potentially the greatest leverage. Oil and gas exploration is hit and miss.
What attracted me to EMR is that it also has various oil and gas interests in the US and is cashed up.
EMR has also applied for EPA 4/05-06 that lies immediately to the west of the EP104 project and covers the western extension of the Pinnacle Fault, the lcation of much of the previous production in the Canning Basin. This permit is currently proceeding through the Native Title process.
DYOR
Hi Daggs,A director of EGO sold all of his ordinary shares today (6.5 mil). Leaving a holding of 6.5mil options.
There must be about 1000m of drilling left to reach the target. Does anyone know if it's possible to tell this early if the drill will be succesful?
I hope he REALLY needed the money but seems strange he couldn't wait another week or so if the drill was promising.
Its far too early at this stage to tell if the drill will be successful. Infact, its impossible.
The EGO director most probably took some profits off the table. I thought about buying into EGO, but decided to buy EMR instead. In the event of any success at Valentine 1 and/or Stokes Bay 1 EMR offers potentially the greatest leverage. Oil and gas exploration is hit and miss.
What attracted me to EMR is that it also has various oil and gas interests in the US and is cashed up.
EMR has also applied for EPA 4/05-06 that lies immediately to the west of the EP104 project and covers the western extension of the Pinnacle Fault, the lcation of much of the previous production in the Canning Basin. This permit is currently proceeding through the Native Title process.
DYOR
Re: EMR - Emerald Oil and Gas
EMR now has three wells spudded and are currently drilling. Palito Blanco, Pandura and Valentine.
Should be interesting times ahead for EMR. Especialy should one of the wells stike something.
Surely there is an update on Valentine due soon .. they were from i can see releasing news every 5 days or so ... which is now
EMR now has three wells spudded and are currently drilling. Palito Blanco, Pandura and Valentine.
Should be interesting times ahead for EMR. Especialy should one of the wells stike something.
Surely there is an update on Valentine due soon .. they were from i can see releasing news every 5 days or so ... which is now
Re: EMR - Emerald Oil and Gas
DYOR
At this time some patience is required. At Valentine 1 they have yet to reach the target. There seems less interest and momentum in EMR at present.
DYOR
