Ferro-alloy Resources Share Discussion Threads

[knowing] 05/4/2006 10:23

No...Oh look a buyer :-0

[hotfinance14] 05/4/2006 10:21

Ask Jimmyloser to do that!!!

[knowing] 05/4/2006 10:17

Please ;-)

[knowing] 05/4/2006 09:53

Ask them why the drop and if I buy will they mark the price back to it's usual 1.2p level ?

[hotfinance14] 05/4/2006 09:38

I am going to ask them any questions you guys want me to.

[knowing] 05/4/2006 09:35

About what ?

[hotfinance14] 05/4/2006 09:34

I noticed that...perhaps the mm's knew i was going to contact them.

[knowing] 05/4/2006 09:10

Why has this little one dropped ?

[hotfinance14] 05/4/2006 08:31

I am actually going through Sandy today!!!

[seangwhite] 05/4/2006 08:13

Ask how assimilating the recently bought unit at Sandy is going, when is the relocation going to be completed, and will it generate profits.

[hotfinance14] 04/4/2006 15:46

I am going to contact the company.Any questions you would like me to ask ?

[hotfinance14] 14/3/2006 08:24

We have gone down 13% and no trades yet.

[robin_of_loxley] 13/3/2006 02:34

13.03.2006

Empyrean Energy Maintains That Its Horizontal Drilling Of the Eagle North Well-1 Well in California Is A Good If Not A Conclusive Augury For A Commercial Discovery

Share prices can be very volatile during drilling. As we never tire of saying, even with all the seismic in the world and access to previous drilling records, you never know if you have a commercial discovery until you drill. "Only Dr Drill knows" is the saying in the trade. To this should be added "you never know until you have drilled and tested a well".

In recent months a couple of large companies who should know better have announced a discoveries that were not discoveries because on further testing they turned out to be non-commercial. Some smaller companies have drilled wells, said this looks interesting, and then taken the rig away to drill something else. Admittedly there is a worldwide shortage of rigs but, as they say in opera, it's not over until the fat lady sings or, in the case of the oil and gas industry, until a well has flowed commercial quantities of oil and gas.

All this being said, it is a little surprising that the share price of Empyrean Energy saw a sharp drop when it announced there would be horizontal drilling on the Eagle North-1 well in California. The vertical well had already reached its target depth. The horizontal drilling might again turn out to be non-conclusive but, all other things being equal, it is a positive development rather than a negative one.

Empyrean, which also has assets in Germany, has the right to earn a 38.5 per cent interest in the project by funding 55 per cent of the costs of the Eagle North-1 appraisal well. The well is operated by Australian firm Victoria Petroleum, which, like Empyrean, is quoted on London's Alternative Investment Market.

For Vicpet, the Eagle North-1 well is a bit of unfinished business. The Eagle Oil Pool was discovered in 1986 by the Mary Bellocchi-1 well in which Victoria Petroleum was a participant. That hole flowed up to 223 barrels of oil per day and 0.7 million cubic feet of gas per day from the Gatchell Sandstone during testing but, at the then prevailing oil price of US$11 a barrel, was considered uneconomic.

In 2001 the Eagle-1 horizontal re-entry of Mary Bellocchi-1 found 90 metres of gross target sands in the Gatchell Sandstone reservoir before being lost due to mechanical problems. In May 2004 a 14 km seismic strike line was acquired to further define the updip extent of the Eagle Oil Pool. The Eagle North-1 appraisal was drilled 400 m north of the original Mary Bellocchi-1 well.

In February 2006, the partners announced that preliminary analysis of the wireline logs of Eagle North-1 indicated oil saturation in the target Gatchell sands over a 21 metre gross interval from 4,136 metres to 4,157 metres with net pay of 7 metres. Wireline logs also indicated that the top of the Gatchell sand drilled in Eagle North-1 was at the same level as seen in Mary Bellocchi-1, thus providing further support for the interpreted presence of a commercial Eagle Oil Pool in a potential stratigraphic trap.

Then last week, the partners announced they were preparing to drill a horizontal well towards the lower Gatchell oil sands that produced oil during testing of the Mary Bellocchi-1 well. The horizontal well will drill laterally through 300 metres (within a vertical column of 15 metres) of lower Gatchell oil sands to determine the potential horizontal flow rate.

So what does this mean exactly? In blunt terms, it means the companies are trying to shorten the odds against failure. By drilling horizontally, they are increasing the area exposed to production casing (from 21 metres to 300 metres). The Mary Bellocchi –1 well flowed at 223 bpd and there were 90 metres of gross pay in the re-entry. So, in theory, it could flow at three times that: perhaps 600 barrels of oil plus some gas. Or the well might find non-commercial amounts of oil and gas even if the partners can overcome the problems of formation damage. The horizontal drilling should take ten days – that was last week so investors don't have much longer to wait.

[hotfinance14] 03/3/2006 18:21

Atleast its not Rowan Atkinson!!!

[tenerife] 02/3/2006 12:58

rowan dartington

[hotfinance14] 02/3/2006 12:02

Would appear to be a lot of patience Jotoha1.

Who are there broker ?

[jotoha1] 02/3/2006 11:26

Spoke to their broker , he is very optimistic on this stock.....patience needed here

[munchkinpumpkin] 02/3/2006 11:16

Jotoha - how do you know ?

[jotoha1] 02/3/2006 10:51

Hi guys , looks like we are being scrutinised for rerating....not to long to wait now!!

[hotfinance14] 01/3/2006 11:36

Have not heard from him for a while.It's going to take a lot to move the share price north.

[munchkinpumpkin] 01/3/2006 10:54

Where's Jotoha ?

[knowing] 28/2/2006 22:14

I'm expecting an RNS.

[hotfinance14] 28/2/2006 22:13

Concert party ?