Iofina Share Discussion Threads

[1madmarky] 30/10/2014 19:03

The saudi's cannot afford to go low enough to stop the fracking in the US. I like the theory that it's deliberate to weaken Russian financial muscle. And to make it cheaper for Europe to keep the lights on. Just my opinion

GLA

[monty panesar] 30/10/2014 18:42

Superg or others.

Do you think a water deal will be signed this year?

Thanks

[superg1] 30/10/2014 17:14

It's the fracking that has caused the disruption for them, but long term it means more sites with good ppm, appearing on a regular basis.

Continental are looking at Southern Oklahoma too, they call it SCOOP(south central Oklahoma oil province) it's in their presentation.

Potentially another iodine rich area to be exploited.

[alphacharlie] 30/10/2014 17:13

rogerbridge
30 Oct'14 - 16:29 - 26362 of 26366 1 0

Slickwater is really going to enhance our water sales. Good info SG.
Thanks

Which water sales are those then roger? IOF haven't actually got the permit 'confirmed' yet.

[cyberbub] 30/10/2014 16:46

What do you mean by your last sentence engelo?

[engelo] 30/10/2014 16:32

roger: don't forget CF bought in in the 90s I think to stop the rot at the time ;-)

[rogerbridge] 30/10/2014 16:29

Slickwater is really going to enhance our water sales. Good info SG.
Thanks

[roger melly] 30/10/2014 16:19

Thanks for the (bad) memories Chris Faye

[cyberbub] 30/10/2014 16:18

Volume increasing a bit as we approach 40p... could that be a support level? Touch wood...

[stupidboypike] 30/10/2014 15:55

whoever it was looks like they sold them, 2 50k trades gone through and the price dropped. Can be any number of reasons why someone wants the £10k profit in a hurry though, may have nothing to do with IOF. Best regards SBP

[engelo] 30/10/2014 15:24

mm3: OK give in!

superg: great info on slickwater, which imo is transformational for IOF's water prospects. Now sounds to me likely that there will be enough water demand in E Montana to justify the depot without needing to think about N Dakota.

Are you thinking along these lines?

[monkeymagic3] 30/10/2014 12:20

engelo 30 Oct'14 - 10:58 - 26354 of 26356 0 0

mm3: fwiw surely 100k figure infers CF or PSCG.


PSCG discounted due to option price.

[superg1] 30/10/2014 11:50

Meb

I tend to try and track things on the way rather than wait for it to become obvious.

re the Bakken and Slickwater

Halcon resources Sept 2014

'Halcon sets company IP record with slickwater frack'

CEO

“Up in the Williston Basin we’re literally knocking the ball out of the park,”

With a transition to slickwater completions and successful downspacing tests, Wilson said Halcon is now making 2,000 to 4,000 barrel per day wells “on a regular basis”

'IP, record of 4,381 barrels of oil equivalent per day. An adjacent middle Bakken well on a spacing of approximately 660 feet came in with an IP of 3,551 boepd. In comparison, two earlier middle Bakken wells on the same spacing unit that were gel fractured had IPs of 2,675 and 2,174 boepd. Halcon saw similar improvements in wells on its neighboring Blanca North pad.'

They saw a near 3 fold increase on one pad with slickwater v their other method




Continental resources Aug 2014

'As an example of the Company's effort in one geological area of the play, three slick water completions resulted in an average early cumulative production increase of 35% higher than the production trend for Continental's 603,000 Boe estimated ultimate recovery ("EUR") model for North Dakota,'


Oasis petroleum Aug 2014

"Our first slickwater wells in Indian Hills have continued to produce well above our type curve. In addition, early production results from our first Three Forks slickwater well in Red Bank and a slickwater Bakken well in Montana are expanding the completion technique's applicability across more of our inventory. Both of these Oasis wells are producing 35% or more over comparable wells completed with our base completion design."


Whiting petroleum (yesterday)

the Brehm 13-7H was completed in the Middle Bakken formation using a slickwater frac design flowing 3,770 BOE/d.Adjusted for lateral length, it is one of the most productive wells we have drilled in this prolific asset.

An example they gave re a well using the slickwater technique

These rates were 108% and 134% greater than the 30- and 60-day rates for the offsetting well in the spacing unit, which was completed using an older completion design.

Another well (slickwater)

During its first 200 days, it achieved cumulative production over 71,000 BOE. This was 64% greater than the offsetting well, which was completed using an older completion design

Liberty resources July 2014

Liberty’s Slickwater Completions in the Bakken Yield 120% to 200% Production Gains, 2X EURs.



Look at their bubble map in the link. The bigger the bubble the higher the production. The slickwater red bubbles speak for themselves.

There are plenty more turning to slickwater techniques, and as you can see production increases can be phenomenal.

This has only become a trend in the last few months. I suspect they will do work-overs on existing wells in time using the same method.

The impact of general adoption of this technique in the Bakken would mean water use of 3/4 times the current rate.

2000,000 gallons is often quoted for current fracks, but the slickwater technique needs 5 times that amount.

EG Oasis have already gone from 3 wells, to 20% of their wells in H2 using the method. Those 20% in theory roughly calculate to the entire forecast water use under the previous method for all of their wells.

[superg1] 30/10/2014 11:10

meb

All oil companies mentioned reported 30 to 40% increases in production in Bakken/3 forks wells in ND and eastern Montana.

Standard fracking that has been in play uses from 50,000 to 100,00 barrels. Slickwater uses 250,000 plus, so if that becomes a preferred option the water demand will rocket.

Currently some are planning 20 to 30% wells to use the slickwater method, other methods have been trialled too but slickwater seems to grabbing the headlines at the moment.

[engelo] 30/10/2014 10:58

mm3: fwiw surely 100k figure infers CF or PSCG.

[monkeymagic3] 30/10/2014 10:20

Unless its confirmed I'll assume its either/or.

No need for absolutes with IOF!

[square1] 30/10/2014 09:43

Not Dorn as that would be a Director deal

[monkeymagic3] 30/10/2014 09:41

It was Fay or Dorn by the looks of it.

"In addition to these shares, Dr. C E Fay was granted options for 100,000 shares on 9 May 2008 with an
exercise price of 55 pence, 250,000 shares on 2 July 2010 with an exercise price of 30 pence and
250,000 shares on 6 November 2013 with an exercise price of 163 pence. P S Chase-Gardener was
granted options for 100,000 shares on 9 September 2008 with an exercise price of 55 pence. F D Dorn
was granted options for 350,000 shares on 2 July 2010 with an exercise price of 30 pence."

[testuser123] 30/10/2014 09:39

Good spot sq1. The last options RNS specifically stated "an employee of the company" whereas this one stated "an option holder". G & G's options were written directly by Lance and Jeff so leaves Chris as the most likely name in the frame.

[square1] 30/10/2014 09:27

I strongly suspect that the option exercise relates to Chris Fay and as such will not necessarily have been sold- you normally get a year post departure to exercise your options or have them lapse

[joestalin] 30/10/2014 09:14

RNS out :-

"Iofina (AIM: IOF) announces that application has been made for 100,000 new ordinary shares of £0.01 each to be admitted to trading on AIM pursuant to the exercise of options under the Company's Share Option Plan by an option holder (the "Option Exercise"). The options have an exercise price per share of £0.30."

Not much confidence there?

[woodpeckers] 30/10/2014 08:57

Meb - "The relevance is that slickwater uses between 3 and 5 times the water used for normal frack techniques."