Bluebird Energy Share Discussion Threads

[tyrone66] 05/12/2012 08:12

Morning bluebirds

[talk2dubya] 05/12/2012 05:25

hmmm not so sure think there were a number of people who were hoping for a quick spike. Anyway this is more interesting the more I look at it the Solitaire play is in a 'hot' sector and basin.

US Projects update
Solitaire
The primary target for the Solitaire project, located in Kit Carson County, Colorado, is gas in the Niobrara formation on the Eastern edge of the Denver Basin. However, there is also believed to be the potential to develop the Niobrara as a shale gas and liquids rich shale play. Recent new oil discoveries include the Hereford field and the Silo field northeast of the historic Wattenberg field. Approximately 40,000 acres of oil and gas leases are held outright by the Company as well as Operator rights. The Solitaire leasehold interests held by Bluebird are due for renewal between May 2013 and March 2019.
The acquisition and interpretation of 3-D seismic to identify structural highs and fracture systems is critical in understanding the potential of the acreage. Bluebird is currently marketing Solitaire to potential farm-in partners with a view to commencing seismic work later in the



06/04/2012
By Paula Dittrick
Senior Staff Writer

Two key operators in the emerging Niobrara play were among a handful of oil companies recently touting the Niobrara's resource potential in Wattenberg field in the Denver-Julesburg basin during first-quarter earnings conference calls.

Anadarko Petroleum Corp. and Noble Energy Inc. are focused on producing liquids from the Niobrara shale (see map, OGJ, Sept. 5, 2011, p. 28).

By one estimate, the Niobrara already produced more than 700 bcf of gas in the earliest drilling, said Vince Matthews, Colorado state geologist. Operators have yet to determine how much oil might be recovered.

"Although oil production from the Niobrara strata began early in the 20th century, the new oil wells in Colorado are causing a land rush and drilling boom in many parts of the state," Matthews said.

Colorado's State Land Board in March approved a ConocoPhillips horizontal drilling project on Lowry Range 20 miles east-southeast of Denver in Arapahoe County.

A former bombing range, Lowry offers horizontal Niobrara targets in Codell and Greenhorn and vertical targets in the D-J sands.

Meagher Energy Advisors called Lowry range "a highly prospective area" with natural fracturing in the Niobrara oil window. The range offers Niobrara B chalk at 7,000-8,000 ft TVD along with the developed Niobrara C chalk. Both zones have historic oil production.

Niobrara drilling budgets outlined
Anadarko plans to spend $1 billion/year on the Niobrara formation, which involves the Colorado counties of Weld, Boulder, and Broomfield.

The independent set a record for its quarterly sales from Wattenberg field during the first quarter, averaging 80,100 boe/d. Sales volumes of liquids were up more than 40% compared with the same period last year.

In Wattenberg, Anadarko drilled 60 vertical wells using three operated rigs. Anadarko ended the quarter with seven horizontal rigs active in the play and drilled 28 horizontal wells targeting the Niobrara and Codell formations.

The company plans to add three more horizontal rigs this year. Currently Anadarko produces from 36 horizontal wells in Wattenberg field.

Noble Energy has leased 880,000 net acres in the DJ basin where it hopes to increase production from the Niobrara formation to 70,000 boe/d in 2016. The company expects to end 2012 having production levels of 32,000 boe/d with 65% anticipated to be oil and natural gas liquids.

Charles Davidson, chairman and chief executive officer, told a Howard Weil conference in March that Noble Energy anticipates double-digit production growth in the DJ basin over the next 5 years.

The company plans this year to drill about 175 horizontal wells, of which 75% will be from multiwell pads and 85% are in a high-liquids area.

Spending plans call for Noble Energy to allocate $8 billion to develop the DJ basin during 2012-16, with more than 70% to be used for horizontal development. For 2012, Noble Energy plans to invest $1.2 billion or 34% of its total capital program in the DJ basin.

Ted Brown, senior vice-president of northern region operations, said Noble Energy plans to spend $1-1.5 billion/year in Wattenberg where it has 410,000 net acres. Noble Energy operates that acreage with 95% working interest.

Brown sees opportunity for increased density and additional zones. Noble Energy is testing increased density of 40-acre and 80-acre spacing with wells as close as 300 ft apart. It's testing B and C chalk zones.

Noble Energy has seven horizontal drilling rigs and most of its laterals have gone 5,000 ft. The Wells Ranch AE29-68HN well involved a 9,120 ft lateral with a 39-stage completion. Noble Energy plans 12 to 15 extended-reach laterals for 2012 at a cost averaging $7.5 billion/well.

Other companies adding rigs
Fred Barrett, chairman, chief executive officer, and president of Bill Barrett Corp., said the Denver company had plans to move an additional rig into the DJ basin during May. During the first quarter, the company had one rig in DJ basin.

"Looking ahead, we have the visibility and large oil drilling inventory to continue this momentum. I am particularly excited about our pace of growth in the Uinta and DJ basins, as well as results to date in Chalk Bluffs where we plan to drill several Niobrara wells this year." Barrett said.

Current DJ net production is 1,100 boe/d. Bill Barrett is planning to drill 28 gross/17 net operated horizontal wells this year targeting the Niobrara formation.

During the first quarter, Bill Barrett initiated drilling on its northeastern Colorado Chalk Bluffs acreage, drilling, and completing two horizontal wells into the Niobrara B chalk.

Bill Barrett holds 17,300 net undeveloped acres in the Chalk Bluffs area. It is too early to determine corresponding EURs, yet horizontal success in the Niobrara opens the potential for sizable expansion, the company said. At Mar. 31, Bill Barrett had 91% working interest in production from 220 gross wells.

Weld County is where EOG Resources Inc. started the present horizontal Niobrara play with the Jake discovery well (OGJ Online, Apr. 7, 2010).

The Jake 2-01H in 1-11n-63w had a first-month initial production rate of 645 b/d in late 2009. After a year, the well still produced more than 2,500 bbl of oil per month, Colorado state statistics said.

EOG said its Niobrara wells show low initial production rates and flat declines with long-term stable production rates. It awaits more well production history.

[father o toole] 04/12/2012 20:05

I've had a look at today's trades and there was at least 1m more buys than sells, so dark forces at work.

[father o toole] 04/12/2012 17:15

The more bit hitters on the board the better.

[talk2dubya] 04/12/2012 16:57

OK link could be - because I cannot see much else about BBE and Belize including the applications:

1. Mionex International. Limited is a company in which Mr F Scolaro (current non- executive Chairman) has a minority shareholding.

2. p628 - Mionex International a Company Incorporated in Belize

3. - Directors p 10//248

Franceso Scoalro
James Ede-Golightly

4. - Directors

James Ede-Golightly

5.

Bluebird Energy plc ("Bluebird" or "the Company") announces that James Ede-Golightly has been appointed as non-executive chairman with immediate effect.


James Ede-Golightly is a non-executive director of ORA Capital Partners Ltd ("ORA"), Chairman of East Balkan Properties and holds several other non-executive directorships. Prior to joining ORA in 2006, James worked at Merrill Lynch Investment Managers and at Commerzbank AG. James is a CFA Charter Holder, a Chartered Director and holds an economics MA from Cambridge University.

(also Gordan Hall now on board also of ORA Capital)

7. Then this Article:

Belize has been a hard nut to crack for oil & gas explorers historically but in recent times some notable discoveries have been made and new investment is now starting to move into the territory. The first discovery of petroleum and gas deposits in Belize was made by Belize Natural Energy Ltd in 2005 when the first well in Spanish lookout began

producing and has seen its production now reach 5,000+ barrels per day. Attention has recently been turned to London aim listed New World oil & gas who are currently drilling / exploring a series of wells on its flagship Blue Creek project,the company recently updated investors with news of the maiden B Crest prospect encountering an active hydrocarbon
system. Activity on the license front has also been steadily increasing with a number of new exploration licenses being applied for from a combination of mainly US and UK listed companies,among which are Marathon Oil Corp with three applications and London aim listed Bluebird Energy with two applications.

Belize now looks set to be a major draw for oil & gas explorers with attractive tax regimes and modest local labor costs adding to the many attractions of the country.


--------------------------------------------------------------------------------


No smoke without fire and all dat ting. What are the odds F Scolaro is next on board?

[stoxline] 04/12/2012 16:44

Anyone have closing level 2 screen shot ? my server down :-(

[p@] 04/12/2012 16:21

If ora bought every buy today it would only come to £30,000.

[talk2dubya] 04/12/2012 16:20

Welcome to ORA Capital Partners Limited
The principal activity of ORA is the growth and development of businesses in which ORA has or acquires either a significant minority or a majority shareholding. ORA's holding generally results from participation in the formation of new businesses or from acquisitions.

In selecting development opportunities, ORA focuses on sectors in which the Directors consider ORA to possess strengths through their collective experience, identifying specific opportunities that have the potential to meet the Company's return targets. While the current focus includes technology, financial services and resources (including renewable energy), ORA may develop businesses in other sectors if it identifies appropriate opportunities. The ORA team has significant experience in the creation, growth and management of businesses across the areas in which ORA operates, as well as a range of disciplines within capital markets.


Fits with Belize for me. Could light up like a Christmas tree on the right news - then again could just end up returning capital.

[stoxline] 04/12/2012 16:17

ORA seem to have a whacking cashpile so could finance a fair few projects IMO

[father o toole] 04/12/2012 16:08

It's not for the faint hearted, the more shares they buy the happier I'd be

[stoxline] 04/12/2012 16:05

I bet they are too! more going on here than meets the eye for sure

[father o toole] 04/12/2012 16:00

Stoxline, I can bet you that ORA were picking up a few today

[father o toole] 04/12/2012 15:50

Fingers crossed stoxline

[h d shoring] 04/12/2012 14:55

Getting better all the time now .44p

[shaun09] 04/12/2012 14:53

H D, thanks for the reply and agree with all of those points you make :-)

[drrichard] 04/12/2012 14:46

I agree with that analysis HDS and think the current sell off is way overdone. I was in BBE very early, got disillusioned and sold out. Back in again as the future looks a lot better than the past.

[fx analyst] 04/12/2012 14:30

there is an amazing opportunity here IMO

[father o toole] 04/12/2012 14:25

I might soon be in a position to pick up another few.

[shaun09] 04/12/2012 14:20

H D, if you were to quickly summarise the opportunity here how would you describe
bluebird and the position they in ? very interested in your take on BBE.