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Nice Vol today and depth has been building all day,maybe something is happening in QPN, about time hey.
IND - Indus Energy
- Thread starter Joe Blow
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Sure is sleepy town IND i must be the only one holding , up well over 100% in the last few days and at least that makes me happy, i think i am going to have my own little party here WoooooHoooooo:jump::guitar::bier::alcohol::band:sleeping:
Svengali your quite right about the impact of an extended period of low oil prices. It would be catastrophic and Indus is but a speck of dust on that issue.
Fair comment on the oil sand vs oil shale statement. I still understand that the costs of extracting oil from the oil sand wells in far North Canada will be substantially higher than many other locations. Which is the point I was making.
The current SP? Sure only a few shares sold but it doesn't look as if serious buyers are wanting to offer more than .008 to .01 at this stage.
I suppose the critical question is if/when Indus management make a statement about where they are going in light of the current oil price. I just can't see any sane oil explorer starting exploration and drills in the current climate.
Basilio (and Prawn if he is still a holder)
The announcement today regarding positioning with the Cree tribe with IND, change in Directors with the retirement of two incumbents, and the inclusion as director a legal expert in indigenous dealings as well as financial and drilling matters is sensational news
The statement says that IND with its indigenous partner are going to take advantage of the low world oil price per barrel to enlarge our holdings and head towards the mid tier position extrapolated by Gus Simpson quite some time ago is great news.
Of particular interest is the seeming extension of low cost re drilling of "gas wells" in a large way, this opens up the horizon of the perfect way to enlarge the operation at a bargain price ........... you beauty !!!
Contrast this with the former QPN's (now IND) dealings in the unfortunate Indonesia. Every shareholder should send personal thanks to Milewski for re positioning the Company into Canada, the move saved the Company and has set it on the path to prosperity
Bring it on
Svengali
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This was on HC worth a read.
FYI
Indus Energy NL ASX:IND) formerly Quest Petroleum (ASX:QPN) has provided an strategic update on the binding term sheet signed with First Nations Exploration Company, Keyano Pimee Exploration Company Limited (KPECL), on its Alberta Oil Sands Project in Canada.
The agreement is to farm in to 82,290 acres of Cold Lake oil sands in Alberta.
Since the signing of the term sheet, Indus has held several meetings with KPECL and associated Cree Nations Chiefs in Alberta and negotiations have now advanced towards finalising and executing the Joint Operating Agreement.
This provides Indus with an opportunity to partner with a Cree First Nations oil exploration and gas production company that owns a large scale, multi target, drill-ready land position in a significant oil and gas producing location in Canada’s first ranking oil production province.
Once the JOA is executed, Indus will commence Phase 1 of the work program which will consist of low cost re-entry of four historic wells in areas where oil occurrences have been encountered during gas production activities on KPECL lands.
Priority is to look at a program of low cost re-entry wells while also taking advantage of the current market conditions which is seeing debt forced divestiture of land positions in the Cold Lake Area of Interest (AOI).
This provides a significant opportunity for acreage covering known heavy oil sands occurrences, already been freed up, to be snapped up at low acquisition and holding costs to add to existing and planned joint land positions.
This would result in the added benefits of the phase 2 conventional vertical well program being scheduled over a larger geographical area with the aim of delineating significantly increased reserves for similar expenditure
Due diligence
Extensive due diligence has already been completed by the company’s project advisors, Alberta based Apex Energy Consultants ,including the evaluation of over 1,000 production wells and associated data within or in close proximity to the Project areas and AOI.
Upon the signing of the JOA the Company expects to move rapidly forward with Phase 1 and the additional land acquisition programs.
Strategy
Indus is looking at acquisitions where the current project economics still provide optimal terms even at currently depressed oil prices.
KPECL and the Company are working together to ensure that the JOA enshrines this flexibility and that any associated work programs are profitable at current oil prices as well as look for additional opportunities in the region.
Board appointment
Indus has appointed Marcus Gracey to the Board as a non-executive director. Gracey is a commercial and corporate lawyer and currently the business development manager and general counsel at New Standard Energy (ASX:NSE) and a non-executive director of Sunbird Energy (ASX:SNY).
Analysis
In the current market of low oil prices Indus, the JV partners have an opportunity to acquire "distressed" properties prospective for oil sands in Alberta at potentially bargain basement prices.
The farm in to 82,290 acres of Cold Lake oil sands in Alberta, Canada is a material agreement.
The Cold Lake region is contributing an estimated 500,000 bopd and is one of three major oil sands deposits in Alberta. Alberta ranks first in crude oil reserves and production in Canada.
Significantly, Cold Lake recovery economics demonstrate viability even at current oil prices and the likelihood of a speedy, low-cost pathway to production revenues for Indus and KPECL.
This provides valuation potential significant for the junior with a market cap of circa $4 million in the short to medium term. It also provides a workable plan and a platform for Indus to accelerate plans to becoming a North American oil producer.
With the focus on achieving low cost production in Alberta, a review of its Indonesian assets is underway.
The addition of Marcus Gracey to the board of directors is an impressive addition where Gus Simpson of Peninsula Energy (ASX
EN) fame and Anthony Milewski round out an experienced energy board.
FYI
Indus Energy NL ASX:IND) formerly Quest Petroleum (ASX:QPN) has provided an strategic update on the binding term sheet signed with First Nations Exploration Company, Keyano Pimee Exploration Company Limited (KPECL), on its Alberta Oil Sands Project in Canada.
The agreement is to farm in to 82,290 acres of Cold Lake oil sands in Alberta.
Since the signing of the term sheet, Indus has held several meetings with KPECL and associated Cree Nations Chiefs in Alberta and negotiations have now advanced towards finalising and executing the Joint Operating Agreement.
This provides Indus with an opportunity to partner with a Cree First Nations oil exploration and gas production company that owns a large scale, multi target, drill-ready land position in a significant oil and gas producing location in Canada’s first ranking oil production province.
Once the JOA is executed, Indus will commence Phase 1 of the work program which will consist of low cost re-entry of four historic wells in areas where oil occurrences have been encountered during gas production activities on KPECL lands.
Priority is to look at a program of low cost re-entry wells while also taking advantage of the current market conditions which is seeing debt forced divestiture of land positions in the Cold Lake Area of Interest (AOI).
This provides a significant opportunity for acreage covering known heavy oil sands occurrences, already been freed up, to be snapped up at low acquisition and holding costs to add to existing and planned joint land positions.
This would result in the added benefits of the phase 2 conventional vertical well program being scheduled over a larger geographical area with the aim of delineating significantly increased reserves for similar expenditure
Due diligence
Extensive due diligence has already been completed by the company’s project advisors, Alberta based Apex Energy Consultants ,including the evaluation of over 1,000 production wells and associated data within or in close proximity to the Project areas and AOI.
Upon the signing of the JOA the Company expects to move rapidly forward with Phase 1 and the additional land acquisition programs.
Strategy
Indus is looking at acquisitions where the current project economics still provide optimal terms even at currently depressed oil prices.
KPECL and the Company are working together to ensure that the JOA enshrines this flexibility and that any associated work programs are profitable at current oil prices as well as look for additional opportunities in the region.
Board appointment
Indus has appointed Marcus Gracey to the Board as a non-executive director. Gracey is a commercial and corporate lawyer and currently the business development manager and general counsel at New Standard Energy (ASX:NSE) and a non-executive director of Sunbird Energy (ASX:SNY).
Analysis
In the current market of low oil prices Indus, the JV partners have an opportunity to acquire "distressed" properties prospective for oil sands in Alberta at potentially bargain basement prices.
The farm in to 82,290 acres of Cold Lake oil sands in Alberta, Canada is a material agreement.
The Cold Lake region is contributing an estimated 500,000 bopd and is one of three major oil sands deposits in Alberta. Alberta ranks first in crude oil reserves and production in Canada.
Significantly, Cold Lake recovery economics demonstrate viability even at current oil prices and the likelihood of a speedy, low-cost pathway to production revenues for Indus and KPECL.
This provides valuation potential significant for the junior with a market cap of circa $4 million in the short to medium term. It also provides a workable plan and a platform for Indus to accelerate plans to becoming a North American oil producer.
With the focus on achieving low cost production in Alberta, a review of its Indonesian assets is underway.
The addition of Marcus Gracey to the board of directors is an impressive addition where Gus Simpson of Peninsula Energy (ASX
EN) fame and Anthony Milewski round out an experienced energy board.
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Mobcat, please provide a link to the original source material where possible.
The content in mobcat's post was sourced from here: http://www.proactiveinvestors.com.a...s-to-snap-up-alberta-sands-assets--60189.html
The content in mobcat's post was sourced from here: http://www.proactiveinvestors.com.a...s-to-snap-up-alberta-sands-assets--60189.html
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No problem JB
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Well something is stirring in Indus land.
For all shareholders sake good luck. But putting on my critical hat I have strong reservations.
It's obvious that at current oil/gas prices drilling and development of new resources is problematical. I note the comments that suggest the viability of drilling ect even at the current low price levels.
I would take such comments with a LARGE grain of salt. Simply speaking they actually havn't drilled, proven the resource and sold a barrel of oil. It's purely a hypothetical paper figure. It also doesn't say "how viable" ie is there a significant profit and does it include the upfront drilling costs.
Certainly they couldn't suggest that drilling wouldn't be profitable could they they ?
Anyway the gist of the release is that they won't be seriously drilling for oil and gas at this stage but simply buying up lots and lots of distressed surrounding acreage. My questions would be
1) There will be a cost to these buy ups. Just how much will that be?
2) What will be the current running costs ie Board and management fees of the new company? How does that compute against the current cash in the bank ?
3) If, if they do drill...is there any realistic way the company can undertake drills at the moment and perhaps find sufficient oil/gas to cover drill, infrastructure costs, taxes and have something left over ?
Good luck to all...
For all shareholders sake good luck. But putting on my critical hat I have strong reservations.
It's obvious that at current oil/gas prices drilling and development of new resources is problematical. I note the comments that suggest the viability of drilling ect even at the current low price levels.
I would take such comments with a LARGE grain of salt. Simply speaking they actually havn't drilled, proven the resource and sold a barrel of oil. It's purely a hypothetical paper figure. It also doesn't say "how viable" ie is there a significant profit and does it include the upfront drilling costs.
Certainly they couldn't suggest that drilling wouldn't be profitable could they they ?
Anyway the gist of the release is that they won't be seriously drilling for oil and gas at this stage but simply buying up lots and lots of distressed surrounding acreage. My questions would be
1) There will be a cost to these buy ups. Just how much will that be?
2) What will be the current running costs ie Board and management fees of the new company? How does that compute against the current cash in the bank ?
3) If, if they do drill...is there any realistic way the company can undertake drills at the moment and perhaps find sufficient oil/gas to cover drill, infrastructure costs, taxes and have something left over ?
Good luck to all...
Well something is stirring in Indus land.
For all shareholders sake good luck. But putting on my critical hat I have strong reservations.
It's obvious that at current oil/gas prices drilling and development of new resources is problematical. I note the comments that suggest the viability of drilling ect even at the current low price levels.
I would take such comments with a LARGE grain of salt. Simply speaking they actually havn't drilled, proven the resource and sold a barrel of oil. It's purely a hypothetical paper figure. It also doesn't say "how viable" ie is there a significant profit and does it include the upfront drilling costs.
Certainly they couldn't suggest that drilling wouldn't be profitable could they they ?
Anyway the gist of the release is that they won't be seriously drilling for oil and gas at this stage but simply buying up lots and lots of distressed surrounding acreage. My questions would be
1) There will be a cost to these buy ups. Just how much will that be?
2) What will be the current running costs ie Board and management fees of the new company? How does that compute against the current cash in the bank ?
3) If, if they do drill...is there any realistic way the company can undertake drills at the moment and perhaps find sufficient oil/gas to cover drill, infrastructure costs, taxes and have something left over ?
Good luck to all...
Bas
I'm thinking the only way you will ever be positive is if you win Tatts, and even then only when the cheque has been cashed
The cost per barrel apparently will be all up $31/32 per barrel, at that figure despite what you infer IT IS PROFITABLE
There will NEVER have been a well in all history that made money on day one..... NEVER
I have been told by the highest authority that Phase 1 costs are covered and the majority of Phase 2 costs are covered, and the best intimation in released papers is that the enlargement of the conversion of finished "gas wells" to oil wells for about $200K each can be undertaken, and they apparently have hundreds even thousands of such wells in their new Cree partners controlled areas ....... how hard will it be to raise commercial finance for dozens or hundreds of these
IND has been maneuvered into a once in a lifetime chance
I admit here I have bought more heads in the last few weeks, and advised friends and business acquaintances to buy in, we are all laughing, I hope no one listened to the knockers and left themselves out of the loop
Watch and learn
Svengali
As an adjunct to recent correspondence about IND, it is interesting to note that the company has held its price (.02 cents plus) after being attacked fleetingly, this is interesting insomuch that often after consolidation prices drop and stay down
The quarterlies give hints as to what may be occurring. It states that the appointed operator, APEX, has studied over 1000 of our own "gas wells", IND are looking to buy nearby distressed oil sand sites, (if these companies only have say 50/200 sites they may probably be uneconomic and only a nearby large site holder could operate them profitably.......IND)
Ask yourself why, as announced, they are looking to enlarge their resource now, would they do so if they didn't have good knowledge of what lay below ?, they must be confident of receiving financial backing to undertake enlargement
We know that these "gas wells" are going to cost about $180K to bring to production, let's do some sums. If the wells produce 70 bpd and the net profit is $15 per barrel then the profit per day would be $1050 meaning it would take around 170 days to pay back the set up costs !!! get the picture ..............what if oil rises to say $65 pb, that means the payback time would be 78 days production
On top of this it may be that as of the last few days the price of oil may have bottomed out and started to rise again, if as estimated IND can produce for $31/32 per barrel and the Phase 1 gas wells that are unilaterally seeping oil deliver say 70/100 bpd then we are in a whole new ballgame
It seems to me that the constant "carpers" who criticize, sell out etc. may be about to miss the boat, this is shaping as a one hundred bagger...... do the sums. I think the management have and placed IND in the prime barrier position and they are on a Black Caviar (Texas tea)
Bring it on
Svengali
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I couldn't of put it better if i tired Sven 
she could be a boomer IND in the fulness of time ,iam sure happy being a holder
she could be a boomer IND in the fulness of time ,iam sure happy being a holder We are now in a very interesting period for IND.
Critical to moving forward is the signing of the Joint Operating Agreement. The announcement on the 19th of January alluded to strategy changes and since then we have heard nothing from the company which would indicate there have been problems.
The quarter ends in three weeks and one month after that should reveal where the company intends to find some money for operating expenses at least.
While some credit goes to Directors and Employees who salary sacrificed varying portions of their fees to improve cash flow the fact is they are now at the pointy end where this is simply not enough.
While the Company has always promoted its potential and the Oil Sands Venture seems a masterstroke, the clock is ticking and we will hopefully find out very soon whether investors are going to obtain any benefit going forward or whether most will have to wear some large losses.
Critical to moving forward is the signing of the Joint Operating Agreement. The announcement on the 19th of January alluded to strategy changes and since then we have heard nothing from the company which would indicate there have been problems.
The quarter ends in three weeks and one month after that should reveal where the company intends to find some money for operating expenses at least.
While some credit goes to Directors and Employees who salary sacrificed varying portions of their fees to improve cash flow the fact is they are now at the pointy end where this is simply not enough.
While the Company has always promoted its potential and the Oil Sands Venture seems a masterstroke, the clock is ticking and we will hopefully find out very soon whether investors are going to obtain any benefit going forward or whether most will have to wear some large losses.
Mr. Jed
Your summation is basically right
A soon as the MOA is signed things can move forward in the field and the share price can find its right price
I have been watching a new program on pay TV.... the Russian News.... it gives a far more independent look at things and yesterday I was watching an expert talk about the fix that the oil fracking industry is in.
Most of the startups of fracking came in at US$90 plus, he said they are doomed as will be start ups $US50 to the said US$90
Meanwhile the IND sand play, with all costs included comes in at US$32/33
Watching what happens will be interesting from now on in
Svengali
It IS right Svengali not basically right.
The company is going nowhere without a Joint Operating Agreement. That is a priority and it appears the company is being tested with this. Then there is operating expenses and where they are coming from.
The cone of silence has descended again just like it did when there were problems in Indonesia.
The company is in limbo. Shareholders are in limbo. Strong leadership and communication is required.
The Company didn't have it before and the current question is ….Do they have it now?
The company is going nowhere without a Joint Operating Agreement. That is a priority and it appears the company is being tested with this. Then there is operating expenses and where they are coming from.
The cone of silence has descended again just like it did when there were problems in Indonesia.
The company is in limbo. Shareholders are in limbo. Strong leadership and communication is required.
The Company didn't have it before and the current question is ….Do they have it now?
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I think the latest Ann answers all the question , nice road forward for IND if the wind blows the right way $$$ to be made here by the looks of things , it would be worth doing some DD on IND atm if there are any peeps
I think the latest Ann answers all the question , nice road forward for IND if the wind blows the right way $$$ to be made here by the looks of things , it would be worth doing some DD on IND atm if there are any peeps
Still some work to be done Mobcat. JOA is way overdue. That doesn't bide well for the forecasted Phase 1.
Time will tell, and the Company is very experienced at using time.
Mr Jed, there has been some work done by successfully divesting the Ranau lease in indonesia to a Russian cartel with a purported 10% royalty, this agreement is yet to be signed but if it is we are well out of that region, let's hope the signing is not "imminent"
As you observed, the JOA was not signed at the time of your 18MAR15 post and now it is heading for another month, the 12JAN15 prognostication for this is starting to look extremely distant, someone from the Company tell me it is closer than our aforementioned good old traditional "imminent".
A huge upside is possible upon signing and when/if drilling gets underway with successful results, even at todays low barrel price
Bring it on.........please
Svengali
Still waiting Sven…….zzzzzzzzzzzz
tech/a
No Ordinary Duck
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What are you waiting for?
Your trading a stock which on a good day turns over $20,000 in a days trading!
Tech/a
In actual fact the value of daily trades this year is about $2050.00,(therefore about 101,600 shares.........approx. .0065% of issued shares), the whole capital/share volume is immaterial with IND, that is why a JOA agreement with the owners may well give investors a large immediate gain and then the results from Phase 1 obviously will be critical, then Phase 2 as well, if they are successful then financing will fall into place after that
It's up to all individual shareholders if they are up for the punt or not............. but those pundits who pontificate as if these volumes are life threatening on such infinitesimal volume/value are talking through their backsides
***** Note WBC dropped over 3.3% today on trade volume against issued shares of .00352%, bear in mind they are worth some $35.50 EACH, everyone get a grip !!!!! *****
Svengali
