Hardy Oil & Gas Share Discussion Threads

[cumnor] 27/1/2011 16:10

Welcome DUB. Interesting goings on at hoil. Major gas find but location, politics and cost of getting to European market possibly prohibitive. I like hdy as has share of several smaller finds (there is real potential to increase this and if lucky significantly) and oil. These are on the door step of India's major city so ready market and really competitive with infrastructure and rspected partner. India of course is not like Kurdistan and has little o@g (relatively) to most developing economies so grateful for every last drop they find. Nice play on oil and gas as well emerging market methinks. Even liquified gas won't compete. imo

[dubwise] 27/1/2011 14:22

Wow talk about a quiet thread!

Just took a long position here... looks to be bottoming out with some good support

[sunseeking] 19/1/2011 08:26

From the update today

Following the divestment of its interests in Nigeria and a placing in December 2010, (which raised GBP6.8 million), the Company has the focus and funds to complete its exploration programme in India

I am a newcomer. Bought in yesterday.

ss

[atflores] 13/1/2011 10:17

Well, well, well, we'll watch and tell
If Q2 meets this diagnosis
Drachen clings with punctilious flings
Of facts to a positive prognosis

[drachen] 12/1/2011 20:03

Thinking back to a earlier presentation I believe the plan for 2011 was as follows- Q1 D3, Q2 D9, Q3 D3 and Assam/Arakan, Q4 D9. With the poor results from the previous 2 wells on D9 however this may well of changed. If nothing else the information retrieved from those wells will help target the 3rd well and will hopefully lead to a better result in Q2 from that block.

[funddamager] 12/1/2011 15:28

Looking at the latest presentation , I see that the next well spud is due sometime this quarter on Block D3.

Have HDY said which prospect they are going after next?

[surfer2] 11/1/2011 11:53

its a curious co. Hardy , main market listed but pretty illiquid , v small mkt cap and almost no production.

[drachen] 10/1/2011 00:38

Just to clarify, as you correctly state Surfer2 , stock tank barrels are the same as barrels of oil equivalent. I believe 1 barrel is equivalent to around 6000 cubic feet of gas?. Regarding PY-3,I should of been more specific.(sorry) 3120 is the gross production fiqure. As Hardy has a participating interest of around 18 % that makes Hardys share about 550-570 Boepd. thanks for pointing that out ..

[surfer2] 06/1/2011 12:18

Drachen is that 3120 STB stock tank barrels per day or Boepd in other words? i thought HDY only produced a figure something like 500 boepd to keep the lights on?

[drachen] 05/1/2011 23:25

oversold in my opinion now..hence with burnt fingers iam topping up. mad you say ..but hey just remember, we have a steady production from PY-3 of around 3120 stbd resulting in per quarter sales of about 40,974 stb at a average price of $75.93 stb, no long term debt, and a large war chest to see us through the exploration programme this year and well beyond. Of most significance now will be the two further wells on D3. Which, given the two P&A's on D9, compared to 4 successful discoveries on D3, is clearly where the future of Hardy lies. As always DYOR and dont listen to any of my ramblings......it certainly looks like its going to be a long and exciting year of exploration though....and the only way is up.

[paulo92] 05/1/2011 17:30

Goodbye HDY, it has been emotional, or more specifically, very upsetting. Goodluck to those still standing

[atflores] 05/1/2011 15:56

Hardly Oil has a certain cachet
It certainly seems to look that way
They used to do press releases quite well
And now their drilling has gone to hell
Perhaps their office staff could do PR
And their drillers run some dingy bar?
Leaving the field of oil exploration
For another more talented generation.

[cockney sparrow] 05/1/2011 15:04

They should change their name,
To one that projects their fame,
Hardy oil it is now,
To Hardly oil Whoopee, Wow!

[drachen] 05/1/2011 12:42

very disappointing..taken a huge hit on the news..but as they say 'you pays your money, you take your choice' Looks as if the share price has bottomed out though Mr Bin , so now i guess its a case of waiting for news of the spudding of the next D3 well scheduled for this quarter.

[binladin] 05/1/2011 08:17

SHOULD GO TO 160P:::::::::::::

[goofball25] 05/1/2011 08:16

well this is a first, Ive been hit out of my position the morning after making my purchase

[dick grasso] 05/1/2011 08:05

Yes you are probably correct monet!

[monet] 05/1/2011 08:00

Was the director buying not part of the Placing on 22 December 2010 at £2.01?

[dick grasso] 05/1/2011 07:54

A tad untimely by the director yesterday?

[monet] 05/1/2011 07:52

For Immediate Release
5 January 2011



Hardy Oil and Gas plc


("Hardy" or "the Company")


Drilling Update



Hardy Oil and Gas plc (LSE: HDY), the oil and gas exploration and production company focused in India, today provides an update on the drilling of the KG-D9-B3 well, the second exploratory well on the Company's D9 (KG-DWN-2001/1) exploration licence.



The well was drilled to a total depth of 3,829 m MDRT by the Transocean drillship 'Discoverer India' in a water depth of 2,948 m at a location some 47 km away from the nearest well. The well encountered two Tertiary aged reservoir quality sand packages of 70 and 40 m gross thickness respectively, in which gas shows ranging from 6 to 9 percent were recorded. Testing was carried out with the MDT tool which suggests water gradient in the sand packages. The well has been plugged and abandoned.


The D9 exploration licence is located in the Krishna Godavari Basin on the East Coast of India and covers an area of approximately 11,605 km2. Hardy holds a 10 percent participating interest in the licence which is operated by Reliance Industries Limited.



Yogeshwar Sharma, Chief Executive Officer of Hardy, commented:


"Although this exploration well result is disappointing, the presence of thick reservoir quality sands and the potential presence of a petroleum system are encouraging. We will now work with our partner to incorporate the data gathered to update the geological model."

[drachen] 04/1/2011 16:46

always nice to see a director buying...adds confidence. hopefully we should get some positive results regarding D9 towards the end of January/early Feb so could be a interesting 2-3 weeks.

Happy New Year to all holders...

[goofball25] 04/1/2011 15:03

just bought back in on recent buying + inst buy+ director buy