Stratic Energy Share Discussion Threads

[adanac1] 21/1/2010 05:06

new here so be gentle please.....
I would like to ask the question, when a news release is generated, will it be posted on the stratic site or on a news wire first? Any suggestions as to where I should be watching for news?
Thank you from over in Canada

[jak108] 21/1/2010 00:10

sw,

join the club of sitting tight & praying - how long for though?

[steelwatch] 20/1/2010 18:28

Jak - there will always be some buying on margin ahead of news. Volume is still quite light. Then there is the "buy on rumour, sell on fact" strategy. I'm just sitting tight and praying!

[jak108] 20/1/2010 18:09

ifu, sw

Some buying action today on both tsx and here - could there be some news starting to leak
TSX
289,000 buy @0.180
150,000 buy @0.185

AIM
286,300 buy @10.51p

May be the (slow) testing has reached a key stage and has somehow led to this buying action or just some bold buying in anticipation of positive outcome. Fingers crossed. We could do with some good luck here.

[ifudrillittheywillcome] 19/1/2010 19:34

I would assume that "relinquish" meant that they just let it go....or WILL just let it go.

ifu

[steelwatch] 19/1/2010 18:48

Thanks ifu. It would also be nice to know where future intentions lie regarding Morocco.

Stratic has now decided to relinquish its remaining Moroccan acreage, a 40% non-operated
interest in the Guercif–Beni Znassen reconnaissance permit following a review of recently
acquired data over the permit area.



About time the website was updated, or did they not go through with the relinquishment?

[ifudrillittheywillcome] 19/1/2010 18:19

I'm hearing (from third parties) that the testing is going slow due to equipment related issues. Still progressing and things have been resolved. I haven't heard anything that would give us an indication about the hit/miss possibilities. They have succeeded in keeping this very quiet. Based on the limited finances of both companies -I guess one could assume that they wouldn't be spending the money to test if they hadn't seen a clear reason to do so. But - I can't make money on assumptions.

Turkey is a goner. Just a matter of finding a buyer.

ifu

[steelwatch] 19/1/2010 13:20

Surfer - afaik, the intention is to sell.

[surfer2] 19/1/2010 12:59

permits

How much in revenue is the 12.5% worth to Stratic from this area?
Have they any option to increase their share , or are they likely to get a future share in those leads / blocks immediately to the east?

[steelwatch] 19/1/2010 03:34

Hi f_p,
You have, pretty much, summed the situation up. Nothing has leaked out afaik. if it had, the IV boards would be buzzing. AT-101 is a very important well for Stratic (and also for me though I tend to suffer in silence).

[father_paul] 18/1/2010 19:58

Hi Steelwatch,
Any comment on the progress of the Al Tayr 101 well? It was drilling multiple horizons down to target depth, but no news leaked out yet? Supposedly targeting 450bcf. Fingers crossed .. very quiet on this board.

[steelwatch] 13/1/2010 20:49

So it is :)

[farmscan] 13/1/2010 20:41

12.12% up in Toronto at the moment, maybe news imminent.

[steelwatch] 13/1/2010 14:56

JAK - let's hope it's a good sign, though all I can add is that the 80 days are well past now, so, hopefully, news soon.

[jak108] 13/1/2010 14:43

Couple of largish buys this morning - 100,000 & ~150,000 shares. Wondering if there has been some development re Syria - news leakage of some sort? Any body care to comment? RNS due presumably some time soon now?

[jak108] 09/1/2010 00:56

Thanks for the update sg31, ifu.

There are a few of the long time beleaguered, fingers crossed shareholders around when it comes to SE. SE. has been a big disappointment so far - may be it is our turn to be lucky! Hope so, all the best.

[sg31] 08/1/2010 20:54

I am a long time beleaguered shareholder.

So am I.....I think that is the only kind left...

[ifudrillittheywillcome] 08/1/2010 19:12

GS is a wealth of information regarding the technical aspects of drilling and all that it encompasses. However, in this specific case --where the partners are drilling a a large well (for them) and have very limited funds.... I think that the general rules do not necessarily apply casing and testing of zones of interest. We shall see how it all plays out --probably by the end of the month --maybe as early as the end of next week or beginning of the following week.

I am a long time beleaguered shareholder. Good luck to us all.


ifu

[sg31] 08/1/2010 18:58

They are preparing for testing that will probably occur next week. That's all I learned but I interpet it to mean that since testing is very expensive (for cos like DXE & SE)they wouldn't test unless the Logs clearly told them to do so. So, I guess there is reason to be cautiously optimistic.


GS on IV posted this on the DXe board


On a frontier, international, expensive, offshore and hazardous well operation you will normally run casing regardless unless there is absolutely nothing - when you simply run plugs and walk away.

Since these big structures have fractured and high perm high pressure and often slightly to moderately "sour" gas - you absolutely have to run and cement casing in order to do any testing. You do not do any open hole tests unless its a DST run barefoot just after running an intermediate casing string where you drill into zone and then set your packers inside the casing - not in open hole! So you run casing almost regardless of whether you have anything big or small - as long as there is a chance you have something - you must run casing and then do your testing through perforations. That's why there is so much time allowed for testing as you have to start at the bottom (not always the best zones?) and then perforate and produce (or attempt to produce) whatever is there. Do the flows - get the flowing pressure data plus shut in data and fluid recoveries then get the testing tools out of the hole, run a permanent or retrievable packer or plug and move up and perforate the next interesting section and test. Repeat as necessary.

Since it can take a day to do the perforating run and then get the DST run in the hole - and then a day to two days or more for the test depending on what is there, then a day for plugs or packer setting, then repeat. Testing several zones can take weeks especially if the results are not immediately obvious or complicated for any reasons and assuming no problems are encountered.

I would assume that the wireline logging operations combined with what happened during drilling operations would have shown what is there - but that is not always a given as some zones can be just darn inscrutable! (Remember Rylands comments re their drilling and logging operations in the Lodgepole and their intense surprise when they cut a core and made the comment that all that loverly oil filled porosity that was guaranteed to be present simply didnt seem to be present when they actually looked at real rocks...!

Anyway - they will be testing for a while if they have the 3-4 main zones they expected prior to drilling - and it is the last one in the Kurrechine perhaps that will be the most interesting. So we wait more or less patiently for results....

Someone inboxed me and asked what I expected from a test on any gas filled zone here to which I gave a fairly detailed reply. Basically if there are any good fracture plumbing zones - and they have any gas at all - test results will be more restricted by the size of equipment used and the chosen choke sized in the testing equipment rather than by anything in the reservoir itself. So perhaps test rates of 50-100 mmcf/day should be expected almost no matter what size the reservoir compartments.

No doubt about it - as long as we have something to test - it will be looked at favourably if it leaks out - but the real news will be hidden until the news release stating whether or not the accumulation is determined economically significant or not arrives.

Like you all - I am simply waiting.

Zzzzzzzzzzzzzzzzzzzzzz.

GS

I think it is all guess work at present.Patience required....again.

[steelwatch] 08/1/2010 18:18

Thanks ifu. If nothing else, this is a reconnaisance drill and may provide important guidance for future wells I gather. Naturally, we wish for a very successful outcome but the odds are always long on exploratory wells. Fingers Crossed!

[ifudrillittheywillcome] 08/1/2010 18:12

Last I heard was that they were heading to around 1200 boe (net to SE). Pressure issues will never be totally resolved. 3rd well very likely for a summer/Fall drill. good news is that the reserves still there but looks like they only get to the hi teens in BOE - even after the 3rd well. Still important if Oil stays firm.

Unconfirmed: SE and DXE have gone dark re news about Syria. Can't get anything out of them. Since we haven't seen any news --- it may confirm what I learned from a 3rd party. They are preparing for testing that will probably occur next week. That's all I learned but I interpet it to mean that since testing is very expensive (for cos like DXE & SE)they wouldn't test unless the Logs clearly told them to do so. So, I guess there is reason to be cautiously optimistic.

ifu

[steelwatch] 08/1/2010 14:39

FQS - thanks. See edit above. I am not an oil man.

[failedqs] 08/1/2010 14:20

Steelwatch,
When you say the FSPO will be stood down, do you mean the Norther Producer Platform?.... I think it stays in place, the only difference is that instead of exporting oil to a tanker which is moored alongside, the Don oil will be exported into a main pipeline to shore via the Thistle platform. ie the only thing that won't be there any more is the tanker.
I used to hold Stratic, but got out a few months ago, and am watching with interest, might buy again.
Regards,
FailedQS