SAE - Salinas Energy
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I plan to buy in tomorrow morning.
Their news seems impressive
STRONG OIL PRODUCTION RATES FROM NORTH SAN ARDO HORIZONTAL WELL
Salinas Energy is pleased to advise that initial production testing of the Lombardi 4-27H horizontal production well has, during two separate two hour production periods, achieved rates of 500 bopd and 1,000 bopd respectively. The latter test was accompanied by as yet unmeasured quantities of gas prompting the well to be temporarily shut in while surface equipment is modified to handle the higher than expected gas content.
Their news seems impressive
STRONG OIL PRODUCTION RATES FROM NORTH SAN ARDO HORIZONTAL WELL
Salinas Energy is pleased to advise that initial production testing of the Lombardi 4-27H horizontal production well has, during two separate two hour production periods, achieved rates of 500 bopd and 1,000 bopd respectively. The latter test was accompanied by as yet unmeasured quantities of gas prompting the well to be temporarily shut in while surface equipment is modified to handle the higher than expected gas content.
At last I have holding these since they had a placement last year at 75 cents. The institutions that bought in back then have been waiting all this time for this news. They were always going to come good as they have Millions of barrels of oil production. We have just been waiting for them to start selling. Since they have had their down ward trend their OBV has been good, going down on small volume and up on large. I have just done a 21,89 moving average and it just crossed on the 19th april 07. It can only be up from here. Good pick larry. When I saw researched this in the middle of last year I rememebr seeing a valuation of the oil they have at $2 / share.
kind reg
ang
Attachments
ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE: 14 MAY 2007 GOOD OIL PRODUCTION RATES CONFIRMED FOR HORIZONTAL PRODUCER AT NORTH SAN ARDO
Salinas Energy is pleased to advise that production testing of the Lombardi 4-27H
horizontal well has been concluded, demonstrating the well's capacity for pump-
assisted, primary production rates of 500 bopd.
Current plans are to suspend the well pending completion of the permanent production
facilities which are in fabrication and due to be commissioned in August.
Commenting on the latest results, Salinas Managing Director John Begg said:
"The successful production testing of our first horizontal producer at NSA means we
have achieved another key milestone for the project. We can now focus on delivering the
permanent production facilities on schedule and fully developing the field."
Salinas Energy is pleased to advise that production testing of the Lombardi 4-27H
horizontal well has been concluded, demonstrating the well's capacity for pump-
assisted, primary production rates of 500 bopd.
Current plans are to suspend the well pending completion of the permanent production
facilities which are in fabrication and due to be commissioned in August.
Commenting on the latest results, Salinas Managing Director John Begg said:
"The successful production testing of our first horizontal producer at NSA means we
have achieved another key milestone for the project. We can now focus on delivering the
permanent production facilities on schedule and fully developing the field."
At last some more good news to get this little baby going again.
Kind regards
Ang
Yes It is good news but move backwards.
What wrong with energy sector, every one move backwards on good news, such as ERN, BMN, WGP and SAE. I really do not get it.
Tell me about it i have half a dozen stock that did that to me today, however when the market goes down mystocks stay the same or go up.
With SAE though i think some investers can't wait until August when they will have this particular well producing Oil. They would jump onto something else for know and then get back on board when it is closer to the production time
kind reg
ang
Yes, I jumped out yesterday for that very reason. Not sure if it was the right choice as this was announced a short while ago...I'll be keeping a very close eye on it.
ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE: 15 MAY 2007 SALINAS SECURES ADDITIONAL OIL FIELD IN THE SAN ARDO AREA
Salinas Energy is pleased to announce that it has secured the right to develop another oil field in
the San Ardo area. Subject to completion of due diligence, Salinas will acquire 100% and
operatorship of the McCool Oil Pool in return for carrying out a pre agreed work program. The
transaction also includes a first right of refusal over the nearby Brinan Oil Pool.
Schematic of the San Ardo area oil fields
Commenting on the transaction, Salinas' Managing Director John Begg said:
"Our strategy is to leverage the skills and facilities we are building in the San Ardo area to increase
our reserves, production and cash flow. The McCool field is in line of sight from our NSA facilities
and our evaluation so far indicates it's an excellent candidate for development with horizontal wells.
We are achieving exciting results by applying these technologies at NSA and recently production
tested a horizontal well which flowed oil at the high end of our expectations".
ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE: 15 MAY 2007 SALINAS SECURES ADDITIONAL OIL FIELD IN THE SAN ARDO AREA
Salinas Energy is pleased to announce that it has secured the right to develop another oil field in
the San Ardo area. Subject to completion of due diligence, Salinas will acquire 100% and
operatorship of the McCool Oil Pool in return for carrying out a pre agreed work program. The
transaction also includes a first right of refusal over the nearby Brinan Oil Pool.
Schematic of the San Ardo area oil fields
Commenting on the transaction, Salinas' Managing Director John Begg said:
"Our strategy is to leverage the skills and facilities we are building in the San Ardo area to increase
our reserves, production and cash flow. The McCool field is in line of sight from our NSA facilities
and our evaluation so far indicates it's an excellent candidate for development with horizontal wells.
We are achieving exciting results by applying these technologies at NSA and recently production
tested a horizontal well which flowed oil at the high end of our expectations".
Exactly as you said, when the market goes down, these stock hold very well, even go slightly upwards. They are Negative correlated with the market for whatever reason. This feature could be useful to add in portfolio to reduce volatility.
Exactly what I thought and I have been in this for a while and that is how it works all the time.
reg
ang
Trading halt now I have two stock on a trading halt, I wonder if it is another IPO as they announced yesturday they capped the oil feild ready for a production facility to go on line in August this year for the production of 1M barrels of oil. This will be interesting, unless they are going to give us our total forcasts of barrels as I have noticed over the last few months their share price going up and numerous announcments , inlcuding yesturday regarding the millions of balrels they have with the different oil fields. i wouldn't mind knowing what their total production capacity would be as I can't see one report that gives me that.
The other issue I have is it showed as a trading halt, but it didn't apear on the announcement. Does any one have an explanation for that??
kind reg
ang
The other issue I have is it showed as a trading halt, but it didn't apear on the announcement. Does any one have an explanation for that??
kind reg
ang
I have now just read the April qtr report and it states that they are financilly strong with over $5M available, plus being successful in establishing a line of credit to have more money available, so it isn't a IPO or cap raising. Anyone got any thoughts??
kind reg
ang
kind reg
ang
I phoned Etrade yesterday and the trading halt has been prompted by the ASX pending,(I'm assuming) info from SAE, they have until Fri or sooner to respond.
I phoned the ASX to confirm and after the operator kept me on hold for 10 minutes while he was looking into, he then kindly disconnected the call. I couldn't be bothered phoning back.
I phoned the ASX to confirm and after the operator kept me on hold for 10 minutes while he was looking into, he then kindly disconnected the call. I couldn't be bothered phoning back.
Thanks for that, it is frustrating, I wonder why the trading halt, is it good news or bad news???????????
Thanks for that, "ASX Pending" does any one have any idea what that means, or does anyone else know what is going on with SAE. the trading stock. I can only suggest they gues some directors are in trouble as if you look back at the announcments there were two large parcels of shares bought in early March by Directors at 27 cents and then followed a whole heap of posotive announcemntsand the price has cone to 42 cents. Insider trading breach??????????
kind reg
ang
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f that is the case what would that mean for us
can twait till tomorrow
to much speculation for me ...
i gues there is always doggy stuff going on with oil hey....
:brille:
can twait till tomorrow
to much speculation for me ...
i gues there is always doggy stuff going on with oil hey....
:brille:
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hey ya all
can someone explain me the ann from today
it goes like this...
''the securities of sae will be suspended from quotation immediately,
at the request of the company, pending the release of an ann''
sae was in trading halt for 3days and now it is appearing as
''suspend''
can someone explain me the ann from today
it goes like this...
''the securities of sae will be suspended from quotation immediately,
at the request of the company, pending the release of an ann''
sae was in trading halt for 3days and now it is appearing as
''suspend''
hey ya all
can someone explain me the ann from today
it goes like this...
''the securities of sae will be suspended from quotation immediately,
at the request of the company, pending the release of an ann''
sae was in trading halt for 3days and now it is appearing as
''suspend''
Apparently the rules are if once a stock is out on trading halt pending an announcement, if there is no announcement within 3 days the stock is put on suspension until the announcement is made. The questions is can any one tell us what type of an announcement we are expecting????
kind reg
ang
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