Addax Petroleum Share Discussion Threads

[tamtam3] 08/11/2008 10:14

Wonder if the CC was delayed to be able to talk about this.



TT

[leeson31] 07/11/2008 17:46

good stuff :-)

have a good weekend !!

"The TT-11 well was planned as a dedicated Tertiary appraisal and development well with the primary target as the Eocene Pila Spi formation at a total depth of approximately 1,000 metres. The TT-11 well encountered a gross oil column of 52 metres in the Pila Spi formation and was flow tested at 470 bbl/d of 23 degrees API oil with no water. The flow test was restricted by a 1/2" choke size. Subsequent analysis by the Corporation has demonstrated that the TT-11 well has a high productivity index due to the fractured nature of the Pila Spi formation which should enable flow rates to be increased substantially with artificial lift. Two secondary Tertiary targets, the Khurmala and Sinjar formations, encountered minor oil shows and were confirmed to be water bearing.
"

[tamtam3] 07/11/2008 16:34

This must be the reason for the rise in share price around 3.30 pm

170 feet payzone in first Taq Taq well

" CALGARY, Canada, November 6, 2008 /PRNewswire-FirstCall via COMTEX/ -- - Successful Tertiary Aged Pila Spi Formation Appraisal Well
Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX:AXC and LSE:AXC) today announces the successful appraisal of the Eocene Pila Spi formation in the Taq Taq field with the TT-11 appraisal and development well. The TT-11 well was recently drilled by Taq Taq Operating Company, the joint venture company formed by Genel Enerji A.S. and Addax Petroleum to carry out petroleum operations in the Taq Taq license area.
Commenting, Jean Claude Gandur, President and Chief Executive Officer of Addax Petroleum said: "We are encouraged with the successful results from our first appraisal of the Tertiary aged Pila Spi formation in the Taq Taq field. We believe that the TT-11 well has demonstrated that the Pila Spi formation is a viable reservoir substantiating further appraisal activity. Pending additional appraisal work on the Pila Spi formation, Addax Petroleum is looking to develop this part of the Taq Taq field primarily to supply demand from the local markets in the Kurdistan Region of Iraq."
The TT-11 well was planned as a dedicated Tertiary appraisal and development well with the primary target as the Eocene Pila Spi formation at a total depth of approximately 1,000 metres. The TT-11 well encountered a gross oil column of 52 metres in the Pila Spi formation and was flow tested at 470 bbl/d of 23 degrees API oil with no water. The flow test was restricted by a 1/2" choke size. Subsequent analysis by the Corporation has demonstrated that the TT-11 well has a high productivity index due to the fractured nature of the Pila Spi formation which should enable flow rates to be increased substantially with artificial lift. Two secondary Tertiary targets, the Khurmala and Sinjar formations, encountered minor oil shows and were confirmed to be water bearing.
The TT-11 well is the second dedicated Pila Spi well in the Taq Taq field. The first is the TT-02 production well which was drilled in the late 1970's. The TT-11 well is located 1.2 kilometres north-northwest of TT-02, was spudded by the IRI-900 drilling rig in early September 2008 and reached total depth of 1,000 metres in early October 2008. The oil gravity from the TT-11 flow test is the same as is seen in the TT-02 well and the oil water contact was the same as had been established in the TT-02 well.
The Corporation's appraisal work at the Taq Taq field continues with current drilling of the TT-10 appraisal well, which is targeting the previously tested Cretaceous reservoirs: Shiranish, Kometan and Qamcheuqa. The TT-10 well was spudded with the Kurdistan-1 rig in late August and is expected to reach total depth of approximately 2,500 metres in November 2008. After testing the TT-10 well, the Corporation plans to move the Kurdistan-1 rig to drill the Kewa Chirmila exploration well in the Taq Taq license area. "

[tamtam3] 07/11/2008 09:44

IOM... so you must see NM from time to time. Been in IOW several times this year, only once in London attending the GCI show.

Today markets look a litle better despite Toyota alarm.

TT

[leeson31] 06/11/2008 07:56

ah good stuff, although, im in iom not uk. I was in london two weeks ago playing Poker. I like the hussle n bustle of london, ocford circus etc...

cheers.

p.s looks like a down day on the markets today.. :-(

[tamtam3] 06/11/2008 07:55

Will be visiting your beautifull country again in december
Canterburry/Christmas shopping

Cheers

TT

[leeson31] 05/11/2008 17:21

Ahh, I see.

Cheers,

:-)

[tamtam3] 05/11/2008 15:27

Thanks Leeson and indeed I'm in Belgium

TT

[leeson31] 05/11/2008 12:29

are you in Belgium tam tam ?

[leeson31] 05/11/2008 11:15

Sterlig Energy.

the circle i placed was just to indicate the share price was above a previous short signal point..

cheers

[tamtam3] 05/11/2008 10:27

Indeed a nice rise Leeson, it seems the share price can't hold so far today.

I'm not very chartist but is that a reversal candle in the circle?

BTW who or what is SEY?

Tamtam

[leeson31] 04/11/2008 16:42

time will tell. :-)

cheers

[devil20] 04/11/2008 16:40

Thanks Leeson. But I wouldn't be surprised if they don't at least take some.

[leeson31] 04/11/2008 16:10

hopefully the share price can hold...

has anyone here been buying sub 900p at all ?

cheers

leeson

[leeson31] 04/11/2008 15:51

my guess is no.....

[devil20] 04/11/2008 14:21

Anyone on here reckon it could be Addax going for SEY?

[leeson31] 03/11/2008 16:46

nice rise here today...

[leeson31] 27/10/2008 18:36

:-) defo.

[tamtam3] 27/10/2008 15:12

Yep and things seem to go higher this time.

In Belgium it all looks very,very ugly.Time to do some buying shortly but NO banks,haha

Tamtam

[leeson31] 27/10/2008 13:18

750 to 770p share price , best spread ive seen on this stock in a LONG time..

[tamtam3] 27/10/2008 09:58

Was away for a couple of days, sure didn't realised Opec would cut that much.

We didn't see the end of it yet.

Well live goes on just need to adjust my belt a little. LOL

TC

tamtam

[tamtam3] 23/10/2008 16:58

Perhaps you don't really need a thread but it's good to make friends and eventually meet them (like I did)
I'm sure you'll miss some of them, A4's don't reply

take care

TT

[leeson31] 23/10/2008 13:16

cheers Tam Tam.

when ya think about it, you dont really need a thread. initially i felt it to be helpful, but now, ive gon selfish lol and will just work of A4 paper..for calcs etc

:p