Emerald Energy Share Discussion Threads

[efagie] 15/4/2010 15:05

cannot remember seeing before. we know een had the durillo block s/w of ombu, not surprising as oil depths inproved so much with cap6. they have now included the cieba block on the same plane as ombu and the durillo all joined together, from a n/e to s/w line, may suggest durillo as the main centre for oils.
not bad if the ombu has as suggested 2b oip, (though have seen as over 3+b oip) the added durillo + cieba may suggest more than double that, if durillo is the main play... ken

[efagie] 13/4/2010 12:19

mirto 2 to be drilled late april early may. la cortez...

Bogota, Colombia – April 12, 2010 -- La Cortez Energy, Inc. ("La Cortez") (OTC: LCTZ) is pleased to provide the following operational update:

Maranta Block – Mirto 1 well

Emerald Energy Plc. ("Emerald"), the operator of the Maranta Block where La Cortez will hold a 20% working interest (Emerald will request the previous approval of the ANH for such interest assignment), has completed a workover job on the Mirto-1 well on March 6, 2010, which attempted to isolate a water production formation. It is believed that water is coming into the well through poor cement bonding behind casing as observed in the "Cement Bond Log". After a technical meeting held with the operator on March 25th to evaluate the workover results obtained in the last two weeks, La Cortez has concluded that the attempt to isolate the water production formation was not successful; therefore, both the operator and La Cortez have decided to continue producing from the well with a high water cut. It is planned that after the Mirto-2 appraisal well has been drilled and completed, a new intervention in Mirto-1 well will be executed to increase perforation density of the producing "U" sand to increase total production capacity of the well.

Emerald and La Cortez continue to believe that despite the mechanical problems encountered in the Mirto-1 well, there is sufficient accumulation of hydrocarbons in the area to merit the drilling of at least two additional wells. Consequently, civil works (access roads and rig locations) for the two appraisal wells planned for this year are underway. The location for Mirto-2 is almost completed, and it is expected to be ready by the end of first week of April. The drilling rig has been contracted out, and the contractor will initiate mobilization during the second week of April. Mobilization is expected to take at least three weeks; therefore, the estimated spud date of the Mirto-2 appraisal well is expected by late April or early May.

The Maranta block covers an extension of 36,608 hectares in the foreland of the Putumayo Basin in Southwest Colombia. Emerald's contract for this block was signed with the ANH on September 12th, 2006.

The Mirto-1 well reached the intended total depth of 11,578 ft on July 21, 2009, with oil and gas shows recorded across the target reservoirs. Flow testing operations were completed in the Villeta U sand interval (encountered at a depth of 11,030 feet) produced an average oil rate of 732 barrels of oil per day (bopd) of 32.5º API crude over a 48 hour period with a low average water production (water cut of 26 %). An interval of 20 feet at the top of the sand was flow tested through a 128/64 inch choke, under artificial lift using a jet pump. The Villeta N sand, the upper most of the sands tested in this well, produced oil of 15 º API (American Petroleum Institute) at an average rate of 247 bopd over a 48 hour period, under artificial lift using a jet pump and through a 128/64 inch choke, with an average water cut of 64%.

The well was completed with an Electric Submersible Pump (ESP) at 7,043feet on October 4,2009. Since then, the well has been on a production test of the Villeta U sand interval at a current stabilized average rate of 145 bopd gross of good quality oil (31.5 º API) with an average BS&W (basic sediment and water) of 82%, mainly due to the unsolved poor cement bonding problem mentioned above.

A total of 29 km2 of 3D seismic was acquired over the Mirto area to determine the position the appraisal wells to be drilled during the 1st half of this year.

[efagie] 08/4/2010 13:48

Canacol Energy Ltd. (April 7, 2010) ("Canacol" or the "Corporation") (TSX VENTURE CNE) is pleased to
announce that it has filed all required documentation for approval by the Colombian Financial
Superintendency for the registration of its shares in the Colombian Nation Securities and Issuers Registry
"RNVE" and for listing on the Colombian Stock Exchange "Bolsa de Valores de Colombia - BVC". The
Corporation's primary exchange will remain the TSX Venture Exchange. This dual listing will enable the
Corporation to expand its institutional and retail shareholder base into Colombia where it has the majority of
its operations and where the capital markets are rapidly growing.

a strange move, makes for interesting thoughts..

[efagie] 07/4/2010 15:08

RD. those comments mentioned should be kept in house. the gpx board go down in my estimation, let alone those whose thoughts matter more..
ken

[efagie] 07/4/2010 15:05

the canacol update from 31-3 re its
Canacol Energy Ltd Cases the Recio 1 Exploration Well as Potential Oil Discovery in Colombia

that it has cased the Recio 1 exploration well in Colombia as a potential oil discovery, the first of three exploration wells the Corporation plans to drill in 2010. The Recio 1 well is located on the Sierra Exploration and Production Contract ("Sierra E&P Contract") in the Middle Magdalena Basin of Colombia. The Sierra E&P Contract was awarded to the Corporation in 2007 by the Agencia Nacional de Hidrocarburos, and the Corporation is the operator of the contract with a 25.5% working interest.

The Recio 1 well targeted the Lower Tertiary Honda Formation, which is a prolific oil producer within the Middle Magdalena Basin of Colombia. The Recio 1 exploration well was spud on March 15, 2010 and reached total depth of 1,812 feet measured depth on March 22, 2010. The well encountered approximately 10 feet of potential oil pay within a sandstone of the Middle Honda Formation at 1,548 to 1,558 feet measured depth, with good oil and gas shows while drilling. The well also encountered approximately 27 feet of potential oil pay within a sandstone of the Lower Honda Formation at 1,608 to 1,635 feet measured depth, also with good oil and gas shows while drilling. The Corporation plans to test both zones, and will report the results when available.

have to say still would have liked AB to have considered selling block 26,
maybe with a view to buying canacol or similar or just investing it in capella.
instead of taking the easy route...

[efagie] 07/4/2010 14:54

kiwi. yes the los potros is c/r block, first production, cannot remember emerald drilling it. as for gigante, i think that gig2 has been shutdown for some reworks, or pressure tests, maybe a new pump system. so in some ways discount those current numbers, as they are likely higher going forwards.
i believe that sino have lost all but the secretary from emeralds main staff, plus field staff at oil fields left methinks. what a waste!
the higher oil price making value to opening up the fortuna/totumal wells again.
also from campo rico, some prospects of a further field, name eludes me.

canacol have lots on the go at the moment, with some 15 drills planned for 2010.
adding to that a EPF at ombu/capella, set for 2,000bopd.

Ombu E&P Contract – Capella Heavy Oil Discovery (10% non-operated working interest)
Canacol and its joint venture operating partner plan the following activities at the Capella heavy oil discovery. The joint venture will spend approximately US$50 million gross on drilling and infrastructure programs at this significant discovery in 2010.
Commencing in Q1 2010, the Corporation will participate in the drilling of 3 appraisal wells, including the Romero 1 well which will appraise the northeast part of the discovery, 1 one horizontal well within the southwest part of the discovery, a steam injection pilot utilizing one of the existing vertical wells, the construction of an early production facility to handle 2,000 barrels of fluid per day, the laying of flow lines to all producing wells, and the upgrading of existing roads and bridges.
Commencing in Q3 2010, the Corporation will participate in the drilling of 3 infill wells in the central part of the discovery, which may be vertical or horizontal depending on the success of the first horizontal well to be drilled in Q1, 2010, the acquisition of 100 square km of 3D seismic, and the drilling of a water disposal well.
The primary objectives of the program are to 1) continue appraisal of the discovery through the drilling of appraisal wells to increase production, reserves, and resources, 2) formulate a full field development plan by year end through the acquisition of a 3D seismic program, the quantification of horizontal well performance on oil production rate and recovery, and the quantification of the steam injection pilot results in terms of oil rate and ultimate recovery, and 3) install an early production facility, flow lines, and upgrade roads and bridges to increase the volume of oil sales from the field from the currently producing wells and the new wells to be drilled this year.

[rabiddog] 06/4/2010 22:01

Well if you believe the comments from AGrazer on the GPX BB then you might suspect not much at all ! Then again its always easier to belittle your partner after a split !

[bobobob5] 06/4/2010 20:51

ken: many thanks for that, please keep the numbers coming.

Kiwi: so they're now getting a total of 3617 bopd despite spending $40m on Gigante-2, which was itself supposed to add 3000 bopd. Incidentally, Sinochem have just removed almost everything from the Emerald website. They lost all of the managers in London, and also JG in Colombia. An extremely risky (if not foolish) move, in my personal opinion. And, of course, those of us who are of the opinion that Emerald was *not* a sleeping partner in Syria Block 26 might well be wondering what the potential impact of all those departures might be upon Gulfsands...

[7kiwi] 06/4/2010 17:12

Thanks Ken.

Los Potros was a target on the CR block iirc.

I winder what they are doing with Gigante?

And Canacol have been quiet about Capella for some time.

I wonder if Sinochem have lost a lot of the EEN staff?

[captainfatcat] 06/4/2010 17:05

Always nice to know thanks ken

[efagie] 06/4/2010 16:40

an emerald production update for those who care..
average daily bopd over month..
gigante........jan = 1358. feb = 820. december high was 2484,
campo rico...= 804.......= 839.
vigia........= 1287...... = 1310.
capella.......=484...... = 314. beat previous high of 465, sept 09.
centauro sur...=268...... = 268.
mirto.........=107...... = 35.
totumal reopened =40...... = 10.
silfide....... = 4....... = 0.
new? los potros = 0....... = 21..

dec total = 5632 bopd. jan was 4353 feb was 3616... ken

[captainfatcat] 21/3/2010 17:03

bob, thanks for that info I will keep an eye out for the share price to start to recover.

[bobobob5] 21/3/2010 16:03

captain: I have been investing in HAWK and in fact topped-up with 25,000 on Friday afternoon. There has been sustained heavy selling by Scottish Windows. Like, er, shedloads since November - and they were a big shareholder. The relevant fund is being wound-up... bob

[captainfatcat] 20/3/2010 16:47

Kiwi many thanks for your detailed reply and links. I will continue to watch and see if the situation improves.

[captainfatcat] 20/3/2010 11:22

Kiwi/bob, What's going on with HAWK these days I have only loosely followed the story and the bbs turned to custard as has the share price I have no position but might consider a opportunistic punt on further researching. Seems often a falling share price and trashing of bb's go hand in hand. Your thoughts would be welcome while I dig further and watch the situation more closely.

Thanks

cfc

[7kiwi] 18/3/2010 15:45

GPX has received a bid approach.

Another Chinese takeaway?

[bobobob5] 17/3/2010 10:07

Ths oilers that I hold, in no particular order, are:

MXP, RXP, SEY, MATD, LGO, AST, NTOG, SOLO, HAWK, XTR, AUL

but imho DYOR etc as always

[tracker] 16/3/2010 19:20

>>efagie

Even if they had they would only have been able to pick up a few shares. there aren't many in "loose hands".

Geopark has a large following in Chile where its quoted on their local exchange. As well as being held by the Chilean Pension Funds I understand that the countries (Chile) 5 or so largest / richest families are holders of GPK.

I am waiting for Geo to use the Korean monies and then go main market. The guys at the top are very ambitious and the Fell Block is just the engine room of the company.

[efagie] 16/3/2010 12:14

saw that tracker, good bounce of it too. strange coincidence? what with the latest deal with LG International Corporation the Korean conglomerate, had they been told before shareholders? ken

[tracker] 16/3/2010 09:57

>>efagie

Note GPK's announcement today - New Oil Field Discovery!!

[efagie] 08/3/2010 15:41

thanks DFGO, have noticed, though still not sure.

thanks tracker, not seen geo. but the broker note stuff is what i was attempting to compare like.
also keep an eye on our old friend canacol. acquiring, and its production possibilities. added to its ombu parts.

from march 2 note.
Canacol announces 121% increase in revenue during the six months ended December 31, 2009
compared to December 31, 2008.
and.
Purchased all of the outstanding shares of Groundstar Resources Inc., a Guyanese company which holds
a Petroleum Prospecting License in the Takutu Basin in Guyana. Canacol acquired a 90% working
interest in the PPL, which comprises approximately 7,800 square kilometres. Canacol then entered into
an agreement to farmout a 25% interest to Sagres Energy Inc. Canacol and Sagres will carry
Groundstar's remaining 10% working interest to first commercial production.

from its march 4 notes..


CALGARY, ALBERTA- Canacol Energy Ltd. ("Canacol" or the "Corporation") is pleased to provide an operational update of its workover program at its operated Rancho Hermoso Field located in the Llanos Basin of Colombia, where the Corporation has a 100% operated working interest. The Corporation has
completed the workover of the Rancho Hermoso 4 ("RH 4") well, which involved separately perforating and flow testing the Guadalupe Formation and then the Los Cuervos Formation reservoirs.
Both of these reservoirs were highly productive at the recently drilled Rancho Hermoso 5 ("RH 5") well, which tested a combined rate of over 8,400 barrels of oil per day ("bopd") of light oil from these 2 zones, as reported on
December 14, 2009. The combined gross flow rate in the RH-4 well from the Guadalupe, Los Cuervos and Ubaque reservoirs was 2,339 bopd (585 bopd net).

[tracker] 07/3/2010 22:20

Add GPK (Geopark NOT Gulf Keystone).

Mkt Cap £171.2mil...............7,600 bopd year end 31.12.2009

Largest Chilean producer. Shares very tightly held. 14 - 18 drills in 2010.

Last 2 fund raisings at no discount to share price

Very little broker coverage due to lack of free shares.

A good overall broker note covering several stocks..........



Website



Even with the horrible earthquake in Chile, note no share price drop..........

Looking to acquire more..............

Excellent management with proven results..........

[7kiwi] 05/3/2010 13:43

And IAE, ISA-able

[dfgo] 05/3/2010 11:54

ken

check out SQZ Isable






brokers note