NGE - NGE Capital

[Burnhard83]

Bit quiet at the moment. Was surprised by the Soros move. Thought they had sold everything? Maybe someone can explain the equity swap thingy? I read here, that they have retained voting rights some how...

Just read this... new 'loan'/'bond'?

http://www.reuters.com/finance/stocks/NGE.BE/key-developments/article/2330606

 

[haggis]

Looks like we may get some sort of a result on siphon 1 drilling, in the next week . latest announcement attached, as of the 29/8/11
View attachment 01211860.pdf

 

[haggis]

Strong gas signs on the way to the TD 10000 to 30000ppm. latest result attached

 

[RP_Automotive]

Strong gas signs on the way to the TD 10000 to 30000ppm. latest result attached

Looking good, I've been a long time lurker on NGE. Finally bought in this morning, small parcel but we'll see how it goes!

The next 1-2 weeks as they set the liner, complete drilling, start logging etc will be interesting!

 

[Agentm]

12 September 2011

The Company Announcements Office
ASX Limited

Drilling Report

Siphon-1 Exploration Well, PPL 269, PNG

New Guinea Energy Limited reports that at 0600 PNG time, Monday 12 September, the well was at 3,794m MD in the upper Alene Member of the Ieru Formation. A 7' liner has been successfully run to depth, cemented and checked for pressure integrity.

Planned operations are to test the BOP (blowout preventer), pickup the 6' assembly and run in hole prior to drilling ahead through reservoir during the next 2-3 days.

The main reservoir target is the Toro Sandstone predicted at approximately 3,870m MD.

Prognosed total depth of the well is 3,975m MD in basement.

The Siphon - 1 prospect is a wet gas prospect located in PPL 269 in Papua New Guinea. It is a fault-bounded, north-south elongated basement drape structure, adjacent to and at approximately the same subsurface depth as the Stanley - 1 discovery in PRL 4.



NGE announced some huge pressure issues and a lot of condensate class of gas

its been up to 13 pounds of mud weight before they could not keep the well controlled enough and were forced to put in a 7' liner before drilling ahead into the primary zone

very encouraging reports, and imho a discovery is highly probable from this point

good luck to all holders

 

[RP_Automotive]

12 September 2011

The Company Announcements Office
ASX Limited

Drilling Report

Siphon-1 Exploration Well, PPL 269, PNG

New Guinea Energy Limited reports that at 0600 PNG time, Monday 12 September, the well was at 3,794m MD in the upper Alene Member of the Ieru Formation. A 7' liner has been successfully run to depth, cemented and checked for pressure integrity.

Planned operations are to test the BOP (blowout preventer), pickup the 6' assembly and run in hole prior to drilling ahead through reservoir during the next 2-3 days.

The main reservoir target is the Toro Sandstone predicted at approximately 3,870m MD.

Prognosed total depth of the well is 3,975m MD in basement.

The Siphon - 1 prospect is a wet gas prospect located in PPL 269 in Papua New Guinea. It is a fault-bounded, north-south elongated basement drape structure, adjacent to and at approximately the same subsurface depth as the Stanley - 1 discovery in PRL 4.



NGE announced some huge pressure issues and a lot of condensate class of gas

its been up to 13 pounds of mud weight before they could not keep the well controlled enough and were forced to put in a 7' liner before drilling ahead into the primary zone

very encouraging reports, and imho a discovery is highly probable from this point

good luck to all holders

Good to see the liner operation has gone smooth. Drilling in PNG can often be very challenging. For those who are interested, 13ppg mud weight @ 3700m equals a hydrostatic weight of 8203.9psi. So with a bit of a safety factor in there they were probably fighting formation pressures of at least 6000psi,which aint bad at all. Obviously they're not in the target formation yet but if the target formation pressure are anywhere near that it's looking good!

Does anyone know if NGE are going to flow test this well, or will it simply be logged and then the next well drilled for evaluation?

 

[dogeatdog]

Good to see the liner operation has gone smooth. Drilling in PNG can often be very challenging. For those who are interested, 13ppg mud weight @ 3700m equals a hydrostatic weight of 8203.9psi. So with a bit of a safety factor in there they were probably fighting formation pressures of at least 6000psi,which aint bad at all. Obviously they're not in the target formation yet but if the target formation pressure are anywhere near that it's looking good!

Does anyone know if NGE are going to flow test this well, or will it simply be logged and then the next well drilled for evaluation?

Thank you for the technical analysis Auto. I'm unable to answer your question, and wish to ask what folk following this thread, think a possible share price could reach, if a successful find is achieved?
I hold under 100,000 shares.

 

[System]

On June 5th, 2017, New Guinea Energy Limited changed its name to NGE Capital Limited.