Rift Oil Share Discussion Threads

[offerman] 17/3/2014 12:34

Hi BigDog and Manu, just like old days. At least that ended fairly well for us even if slightly offload cheap then.

Looked at Kea at 0.88, damn wish i did do something about it then.

Cheers BigDog about PCI.

Also agree with regard to GKP, looks maniplulated down either for large instis ready for main market listing.
Yes oil water contact, reducing rec rates somewhat BUT as you said much more upside and also they might be able to sort out oil water contact thus increasing OIP and REC rates. Further drilling to come to to no doubt bolster reserves there.

Just waiting for my PCI`s to hopefully com good and then maybe add some more to GKP at those low levels.

[manulad] 16/3/2014 08:51

It's like old times in here!!

If you're not in Kea it's definitely worth a look.

IGS has signed a Farm Out but waiting on the due diligence to be completed and the announcement made. Q1 2014 is the date given for this so it would come any day now.

Checkout IGS last oil barrel presentation (Chapter 6) if you want an idea of how big this could be

[...]

[bigdog5] 15/3/2014 01:33

Jeez you're all alive and well.

Offers, PCI looks good in Kurdistan as its on trend to the other big licences.

GKP taken a mullering of late but it will come back. Been in them 4.5 years and what a nightmare its been. The report that was published and caused the drop of the last two days has more holes in it than a certain cheese. Its conservative to the power of 10. Can't understand why the BoD sanctioned the garbage. Unless of course a low entry price to the Ftse needs to occur. Shaikan will almost certainly turn out to be one of the largest finds on the planet, its the Kurds crown jewel. They've only scratched the surface exploration wise but give it a few years and they will be talking well in excess of 25 billion barrels there OIP.

The Politics over there is a farce and Erbil and Baghdad have problems agreeing which day of the week it is. However monetisation agreement is very close and that should be a big gainer for all the coys in Kurdistan. Kurdistan floats on oil and whilst not all coys have scored a large percentage do. Pipelines under construction up to Turkey and out to the Med. Kurdistan is the new Dubai and they will be seriously rich in a few years. They've also got gas that makes Rift's look pointless. Anyways you should do well with PCI.

[and01] 14/3/2014 22:21

Hi offerman
Sorry to hear about your GKP loss
Reading your posts on this Rift thread help me get into investing in oil shares it has been a roller coaster ride and very interesting
I hold a few GKP shares but cannot make any sense what's going on
Best regards

[offerman] 14/3/2014 15:53

Hi Peter, Great to hear from you and glad you are in fine fettle and doing well.

Regards

OM

[petercrosby] 14/3/2014 15:25

I have a friend with Duchens Hyper. He's just had a heart transplant aged 34 so I hope your investment with SUMM works out. I'm not keen on pharma companies as they always seem to promise jam tomorrow and can be really slow movers.

I made a bit on PTI, lost a bit on RENE

Presently only really invested in CEY and AFR, got a few FOGL, TOM, MTA and ORE

[offerman] 14/3/2014 09:18

Hi Gentlemen,

Good to hear you are doing ok.

I haveven`t done very well at all, down £143k but im still hopefull.
Did well from Rift, then GKP but down hill after that.

I lost a packet with MTA as you know, lost a fair wedge with PCI to as got in from 14p old money (still with them and bought al the way down to 4p old money before 25-1 consolidation. Heavy discount on share price for pci, they have massive gas find algeria, farmed out 18% both to ENEL and SOnatrach, sonatrach for 180M$, . Most important near term are the results from Kurdistan drilling expected within next 3-4weeks PCI 16 working interest). Spud also soon for Dinarta , massive Kurdistan prospect on Dinarat 1400SQKM licence) Reverse take over of Melrose producer in Egypt Bulgaria.500M$ loan facility if needed to develop their remaining 38% on the algeria licence).

So just brief synopsis for latest pci entrails...


I certainly will take a look at SUMM Hyper as never rule out other Ops.

[manulad] 14/3/2014 07:23

'KEA Petroleum made big gains on City rumours of impending good news' in todays independent

summit are a promising company

[manulad] 13/3/2014 19:16

Have you seen Kea lately? up 300% in 10 days - reminds me when RIFT shot up before the buyout

[freedosh] 28/2/2013 07:05

SAC has a new license in Malawi
Congo and Nigeria in time will make this a very attractive Co. INHO

[offerman] 28/2/2013 05:55

Thanks for that manu, but much of that mentions 2012 , drilling douglas and mauku, we are now in 2013, so have thet the results for the drills? I know one of them came quite good but was doing further testing.

Can you list each well failure or success since mid 2012
And what prospects lay ahead for 2013.

Thanks

P.s might consider a punt soon.

[manulad] 27/2/2013 17:41

RE Kea


The Mauku-1 well will be drilled to a depth of 3,400m, along trend some 50km
north of Shell's Pohokura gas-condensate field, which is now the major gas
supplier in New Zealand. The well will test the Mangahewa Sands which are the
producing reservoir interval in Pohokura. A gas-condensate discovery similar
to Pohokura is capable of being developed in a time frame considerably faster
than that of offshore discoveries, due to the ability to drill development
wells from onshore, coupled with ensured access to the national gas pipeline
system running 25km south east of the prospect, or potentially, in the upside
case of a major discovery, by subsea pipeline direct to Methanex's methanol
plants.

The option to deepen the well an additional 1,000m to test the Taniwha Sands,
which are mapped as present within a much larger deeper trap, is also under
consideration and Mauku-1 is designed to enable this to be done at some stage.

[manulad] 21/2/2013 07:40

Mauku 1 is currently being drilled - This well is by far the largest. The expectation is gas, but they have an offtake agreement and infrastructure in place to commercialise

[offerman] 15/2/2013 10:18

One thing going for them unlike most other areas in the world is political tensions , so what they find they go ahead and exprot etc etc. always a positive

My company are in ALgeria 100kms from recent hostage situ, Egypt and Kurdistan lol. The most hostile right now

[offerman] 15/2/2013 10:16

Manu, Notice they have 548m in circa aprox, are they likely to dilute this further for F.R and costs?

Whats the C.B like at present?

[offerman] 15/2/2013 10:13

Manu,

Have they shot seismics or are they going to for the well next year. Not well up on Kea or acreage etc, BUT i may look to pick up a few should the share price go back down to 7p ish between now and then.

Waiting for my other stock to do few drills on potential excellent finds, if that comes in and share price rises i may get a few for speculative punt here/.

[manulad] 14/2/2013 21:10

Mauku 1 will be drilled to a planned total depth (TD) of 3400 metres by the Icelandic Drilling Odinn rig. The Odinn rig has been contracted to drill the main section of Mauku 1. It replaces the previously contracted NRG Rover rig owing to its higher capacity which makes it more suitable for the demands of drilling the Mauku 1 well.

Management expects the Odinn rig to be on location in approx. three weeks to recommence drilling with the well expected to take approx. 40 days to reach TD. On a P50 basis the Mauku Prospect addresses a gross mean prospective recoverable resource of 485 BCF of gas and 27 million barrels of associated liquids.

[manulad] 14/2/2013 21:07

Mauku-1 is the company maker well and that is going to be drilled next - if that comes in good we could be talking 30-40p a share so not too late to get in



P10 estimates
Bcf 1,031
MMBbls 61
Bcfe 1,397
POS 1/4

[offerman] 14/2/2013 09:14

Manu, IGS does seem to have the gift of the drill bit with his companies.

Wonder if he`ll prove it all up and offer it out for a takeover, sound familiar??

Wish i`d got some at just over 7 now, lol.

[manulad] 14/2/2013 07:12

New Deeper Pool Oil Discovery at Puka

Kea Petroleum plc (AIM: KEA), the oil and gas exploration company focused on New Zealand, is today pleased to announce that it has made an oil discovery in a new sand reservoir at Puka 2 in the lower Mount Messenger "Mako" Sands.

Puka 2 intersected 4.6m of sand with a vertical thickness of approximately 3.3m in the lower Mount Messenger near 1,700m measured depth. Preliminary petrophysical log analysis indicates that this sand has an average oil saturation of 64%, porosity of 25.6% with MDT permeabilities in the order of 75 to 100millidarcies. These porosity and permeability values are amongst the highest recorded in Mount Messenger reservoirs to date. The fact of there being no indication of free gas or water within the sand package allows Kea to progress to casing the well and then to testing as soon as possible thereafter. Due to the quality of the sand intersected in Puka 2, Kea expects to record higher oil flow rates than those recorded at Puka 1.

The importance of the intersection of the lower Mako sands at Puka 2 cannot be overestimated. Interpretation of the recently acquired 3D seismic survey and further follow up drilling will be required to appraise and develop the upper Puka Sands discovered at Puka 1, the lower Mako Sand package discovered at Puka 2 and determine the ultimate size of the entire Puka field.

The existence and quality of the lower sand package at Puka 2 is significant for the potential field size of the greater Puka field and for potential productivity from both the Puka 2 well and the Pukafield in general.

Ian Gowrie-Smith, Chairman of Kea Petroleum, commented: "We are delighted to have again struck oil at Puka. This new discovery, with its high quality sands, is likely to have much better flow rates than Puka 1. Kea can now look forward with confidence to an early and substantial cash flow."