Addax Petroleum Share Discussion Threads

[ih_64241] 27/3/2012 22:35

Leeson, you've got mail :-)

TT

[leeson31] 25/3/2011 16:26

....

i saw ya :-)

GOOG

[tamtam3] 25/3/2011 16:19

No problem L.Got no e-mail addy so had to do it in this way
Sold some AFR's to buy MATD
Have a great weekend
TT

[leeson31] 25/3/2011 15:33

thanks TamTam

[tamtam3] 25/3/2011 14:02

Leeson MATD could be huge this year



TT

[leeson31] 25/3/2011 11:14

21 March 2011

Petro Matad Limited ("Petro Matad" or the "Company")

Operational Update

Petro Matad has completed a geological and geophysical reassessment of resources for the Davsan Tolgoi Prospect area of the Company's Block XX in eastern Mongolia and is pleased to announce that the re-interpretation of existing seismic surveys has resulted in a notable increase in the resources of the Davsan Tolgoi Prospect and immediate environs ("the Focus Area"). The Focus Area is a 365 km(2) area in the northeastern corner of Block XX.

Highlights

Following the Company's successful three well drilling programme on the Davsan Tolgoi anticline in 2010, data and observations from those wells were utilised in a complete technical revision by Petro Matad of the previous 3D and 2D seismic surveys in the Focus Area. Highlights of the analysis include:

-- Revised inventory of 18 prospects and three leads

-- Additional 275 MMbbl unrisked and 211 MMbbl risked recoverable resource for prospects and leads in the Focus Area, compared to the previous (2009) inventory

-- Results greatly enhance the Company's understanding


???

[leeson31] 25/3/2011 11:12

any info mate ??

[leeson31] 25/3/2011 11:11

wil check :-) ty

[tamtam3] 25/3/2011 11:06

Leeson, don't know if you're still able to read this tread but if you do, check on MATD which is about to become big IMO
TT

[tamtam3] 15/12/2009 20:00

What a disappointment :-(

[tamtam3] 15/12/2009 10:26

Latest correct translation

[leeson31] 15/12/2009 09:55

nice 1 ty Tam Tam :p

[tamtam3] 15/12/2009 09:48

Leeson watch this :-) and the cc this afternoon

JDZ News: STP Nat'l Petroleum Agency (ANP) chief tells Lusa JDA and company representatives informed the JMC at weekend meet of "1st phase" drilling results in Blocks 2-4, offering "good perspectives".

Oil was found in "expected" quantities and "much gas" in one block, acccording to Luis Prazeres.

Prazeres: "In Block 2 some oil and much gas was found. There are hydrocarbons in the other blocks. Now the companies are carrying out lab tests and additional evaluation wells may be drilled for confirmation.

"They said the quantity (of oil in blocks 3&4) was the expected. They didn't say if it was a lot or a little. The companies are very conservative at this stage of drilling and reserve information."

Note: Now to this layman's eyes, it looks like Prazeres ("Pleasures" in English) is offering us lots of delicacies to chew over. Let her rip, Oil Pros!





Cheers
TT

[tamtam3] 03/12/2009 14:56

Oeps, forgot to post the link for the video



TT

[leeson31] 03/12/2009 09:44

noted, cheers TT :-)

[tamtam3] 03/12/2009 08:31

Hi Leeson,

we had "some" movement yesterday with ADDAX partner (ERHC + 23,91 %) in the JDZ and think it's not over yet.

Surely it has something to do with this video and people are starting to realise results from the drilling campaign will come out in a few weeks and will be good. AIMHO

December 15th could be a day to remember

TT

[leeson31] 27/8/2009 07:30

ty tamtam

:-)

[tamtam3] 26/8/2009 21:20

Confirmation on ADDAX website about their 66 % in block 3

Block 3 – operatorship and a 66% working interest
February 2006: Participation Agreement signed with ERHC
March 2006: Block 3 PSC signed with the JDA
Anadarko designated as Operator pursuant to a Joint Operating Agreement
August 2009: Addax Petroleum increases its participating interest to 66% by acquisition of 51% and acquires operatorship
Block 3 covers an area of 164,700 acres (667 km2). The water depth ranges from approximately 1,700 m to 2,100 m. Block 3 has a minimum


Tamtam

[tamtam3] 26/8/2009 12:44

ADDAX Petroleum, commences drilling



>
CALGARY, Aug. 26 /CNW/ - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX:AXC and LSE:AXC) today announced receipt of Transocean's Deepwater Pathfinder drillship and commencement of its exploration drilling campaign in the deepwater Gulf of Guinea with the spudding of the "Kina" prospect in Block 4 of the Nigeria Sao Tome and Principe Joint Development Zone ("JDZ").

Commenting, Addax Petroleum's Vice-Chairman, Jean Claude Gandur, said: "The commencement of Addax Petroleum's deepwater exploration campaign is a very exciting time for our organization due to our extensive portfolio of prospects which, if successful, have the potential to significantly enhance the Corporation's recoverable reserves. In addition, Addax Petroleum has recently acquired an additional 51% interest in Block 3 of the JDZ and will be the Operator. The acquisition of this additional interest in the JDZ intensifies our foothold in this world class exploration region and significantly enhances the economics of our position in JDZ Block 3 as it allows Addax Petroleum to aggressively explore this prolific region with a sustained drilling strategy."

The Corporation plans to drill the "Kina" and "Lemba" prospects in JDZ Blocks 4 and 3, respectively, with the first two slots on the Deepwater Pathfinder drillship. In addition, Sinopec JDZ Block 2 Limited has notified the Nigeria Sao Tome and Principe Joint Development Authority of its intent to commence its exploration drilling in August 2009 on JDZ Block 2 where Addax Petroleum holds an interest.

Addax Petroleum has a deepwater exploration portfolio that consists of interests in five licence areas comprised of OPL291, offshore Nigeria, and Blocks 1, 2, 3 and 4 in the JDZ. As at December 31, 2008, total best estimate unrisked prospective oil resources for identified prospects in the deepwater Gulf of Guinea are 3,042 MMbbl (1,146 MMbbl risked), of which the Corporation's working interest was 1,359 MMbbl (493 MMbbl risked). When adjusted for the additional 51% interest acquired in JDZ Block 3 the Corporation's working interest increases to 1,498 MMbbl (538 MMbbl risked).

Tamtam

[diggsy] 25/7/2009 09:31

im all out here guys...need the cash for other stocks..good luck all.

[leeson31] 23/7/2009 20:12

cheers tamtam; i reckon it might hit 2900p tmrw....

[tamtam3] 23/7/2009 09:26

C$ 50.29 it is Leeson, we ended higher than the day the news about SNP's offer was PR'd??

Last week I received a note from my broker that MIRROR LAKE OIL AND GAS CO LTD (SINOPEC)has decided to buy all public shares of ADDAX Petroleum @ 52,80 CAD
The offer is conditional as at least 66.67 % of the float needs to be offered for sale.
The Offer is open for acceptance until 7:00 pm (Toronto time) on August 14, 2009, unless withdrawn or extended.

TT