Iofina Share Discussion Threads

[superg1] 19/3/2014 06:59

Scrut

If you are still around re GDL.

I noted a post there by wiseacre re doom and gloom re the GDG court case. The post was on the 5th March.

On ADVFN I can't see any posts on GDG or GDL re the actual hearing date, which was listed as the 4th March

Hon. Mr Justice Foster
Tuesday 4th March
FSD 114/13

Conocophillips China Inc. v Green Dragon Gas Ltd
(Campbells/Travers Throp Alberga)

So maybe a case of keeping an eye on for any sharp moves either way. I would imagine if it went ahead a judge would want a few weeks to deliberate over it.

[superg1] 18/3/2014 22:16

Bob

The maps look blank as IOF have all the 3D data collected by others in the area.

I think Rug identified just 5 wells ever testing the depths mentioned. You may note the interest is based on the revisit to old data pre tech advance which unlocks the tight oil.

I suppose some can see how leases rocket in value once an area is know for oil, so many are on the hunt now. It just seems to be a trend started late last year.

[bobsworth] 18/3/2014 22:05

Great info SG & Rug.

It looks like the oil net is quickly closing in on IOF acreage.

[superg1] 18/3/2014 22:01

One more as they keep popping up re the Nisku. This time to the west.

Oct 2013

APPLICANT: AMERICAN MIDWEST OIL AND GAS CORP. – TOOLE COUNTY, MONTANA

Upon the application of American Midwest Oil and Gas Corp. to vacate Board Orders 46-1984 and 9-1986 insofar as they relate to and cover the following lands in the East Kevin Field in Toole County, Montana.

T35N-R1E
Section 25: All
Section 26: All
Section 27: All
Section 28: All
Section 29: All
Section 33: N½
Section 34: All
Section 35: All
Section 36: All

T34N-R1E
Section 1: All
Section 2: All
Section 3: All
Section 9: S½
Section 10: All
Section 11: All
Section 12: All
Section 13: All
Section 14: All
Section 15: All
Section 16: All
Section 17: All
Section 18: All

Board Order 9-1986 required that Nisku wells drilled on the above mentioned lands be on the basis of one well per 80-acre spacing unit. Applicant states the above lands have never had Nisku Formation oil test wells drilled, and applicant would like to drill vertical Nisku Formation test wells on the basis of one well per 40-acres, which is the statewide spacing for wells at that depth.

It could end up as nothing but quite a number have suddenly started to target the Nisku with a west east spread of around 250 miles

[superg1] 18/3/2014 21:38

Just realised the same company mention the 3 forks re the same well

Bakken (Three Forks) Formation

The Cornwell # 1-14 well penetrated and logged 5 feet of upper Bakken shale as well as 70 feet of the Three Forks formation. The Three Forks formation appears to have adequate potential to warrant additional testing with horizontal drilling. The Company is now conducting studies to further define testing of the Three Forks formation on the Phat City acreage block.

The NI51-101 report completed in January, 2014 reported potential resources range of recoverable oil for the Three Forks formation of 62.56 MBO to 347.56 MBO per 80 acre drilling location. The report did not report a number of potential drilling locations.


The project named phat city is mid-way between Williston in ND and IOF land, share price that certainly drags the boundary over quite a bit.

Montana Exploration interest continues that trend west much closer to IOF.

[superg1] 18/3/2014 21:30

Nice work Rug I had hoped you may pop up.

They state the shaunavon but very interesting indeed if they have hit oil in the Nisku.

As you know thew Weil 1 well just off the west edge of IOF, while looking for Helium (found it) noted potential oil in the Nisku level, and mentioned if viable could open up an entirely new oil play across the entire area.

Very strangely Weil who don't really drill for oil in Montana, then popped up way east in Roosevelt county to target the Nisku. I've never followed it up to see what happened

'In Roosevelt County's East Tule Field, Weil Oil, LLC has been approved to drill the Weil-Bridges 2, located at SE NE 15-30N-48E (1947 FNL/325 FEL). The well targets the Nisku Formation at a proposed depth of 7,600 feet. According to the Board of Oil and Gas Conservation database, this is the first oil well for the firm, which is based in Richmond, Virginia. Parent company Weil Group Resources, LLC, however, is no stranger to Montana. Subsidiary Weil Helium, LLC's initial project is the production of helium from a 6,500 acre project near Rudyard, Montana. According to the company, the area has strong helium flows from a reservoir that exceeds 2,000,000,000 cubic feet. Helium is produced when natural gas is refined

Back west of IOF again and some who had been looking at the Alberta bakken are now looking at the Nisku. Again that seem to kick off late last year.

I've just started to look and it seems to have crept up on us. When I check the Nisku it's popping up all over the place.

Here is one from Jan this year

Nisku Formation

A NI51-101 report was completed in January, 2014 and indicates a potential resource of 19 MMBO to 142 MMBO in the Nisku formation on the Phat City project. The test results included the following information from the Cornwell #1-14 well:

The well penetrated and logged the Nisku formation and identified the presence of 27 feet of porous, Nisku dolomite. The Discovery Group (petrophysical) and Stolper Geologic (petrography) reviewed technical information obtained from the well to supplement Wind River's studies. That work indicates that oil is trapped by the fault that runs through the Phat City project. Two porous benches of Nisku were identified. The upper bench has eight feet of oil saturated pay. The lower bench is water saturated and is separated from the upper bench by ten feet of dense dolomite

The NI51-101 report completed in January, 2014 reported potential resources range of recoverable oil for the Nisku formation of 156 MBO to 838 MBO per 160 acre drilling location and a range of 125 to 170 potential drilling locations. These estimates imply the potential resource range of recoverable oil is from 19.5 MMBO to 142 MMBO.

Information acquired from the Cornwell 1-14 well as well as other information acquired by Wind River will help determine the optimum location to further develop oil production from the Nisku formation.

That's just one of many comments for various companies about the Nisku. That well is lasted mid way between IOF and the Bakken activity

Weil made this comment re the Nisku in the weil 1 well report

The Nisku "pay" zone in the Weil #1 well is worthy of intense focus. If this zone tested productive, it could constitute a new "resource" play over the entire geographical area. The Nisku could represent a very good
horizontal drilling target.

Next thing we knew they went Nisku hunting way to the east, so have they found something? A random well many miles east in targeting the same level where the bakken and 3 forks is known to contain oil.

Then that other comment

share price Log on Conway well (11 mi. east), which showed good Nisku porosity, is very similar to this well

The Conway as you know in IOF territory around 11 miles into it.

So late 2013 and early 2014 there seems to be quite a bit of activity which is in the main going unnoticed.

I only picked up on it 2 days ago as someone asked a question.

Well worth keeping an eye on all this activity imo as if they hit Nisku oil east and west of IOF, then that will be interesting as the Nisku runs all the way under IOF acreage. That would also then bode well for the 3 forks.

[rogerbridge] 18/3/2014 21:25

Thanks Rug.even more interesting.

[rugrat2] 18/3/2014 21:02

It's a long time since I had a close look at the goings on near Atlantis, but thanks to Sg's digging I've had a little look again. Anybody inclined to look at Montana Exploration from the DNRC records might be a little confused at the lack of permits in their name in Blaine County over the last two years. What their website doesn't tell you is that the operator of the Shaunavon (Sawtooth) wells is their partner farm-in company which Charles Selby was avoiding naming in the youtube clip. The partner is Comet Ridge Resources – from their website:
"Comet Ridge Resources was formed on July 26th, 2008 as a joint venture company between Comet Ridge Limited, LLC, an Australian listed oil and gas company, and the well respected US private equity firm, New York based, Pine Brook Road Partners, LLC.
Comet Ridge Limited contributed its US properties and its management team to the new company. In return it received a 43.75% equity interest in the new company. Pine Brook contributed cash and properties. Pine Brook can increase its equity interest in Comet Ridge Resources to 80% or more by spending additional capital on exploring and developing the US projects."

Comet Ridge Resources don't reveal much about themselves, but I have come across them before in relation to Nighthawk in Colorado, where they have acquired a fair lease area in Lincoln County held under the Pineridge Oil and Gas banner.
Comet Ridge Montana LLC is the subsidiary actually operating the wells. There is little information on the DNRC website about the four wells drilled last autumn, but three of them were permitted to drill well much deeper than the Sawtooth, through the Bakken and Three Forks into the Nisku (2 wells) and the Duperow (1 well).
I wonder if our Chairman keeps in touch with his old Shell colleagues? He and Dr Alex Kulpecz (on the board of Montana Exploration) both left Shell in 1998. Not a bad pedigree:

[bobbyshilling] 18/3/2014 18:09

Not to mention a water update; 60 days is up on 31st March.

[owenga] 18/3/2014 17:56

We must be due an update RNS on IO#4 and 5 soon! Hopefully some good news just round the corner!

[freshvoicem] 18/3/2014 16:59

Come on Hurricane, where are you?

[engelo] 18/3/2014 14:39

test: as for some reason I have shonny Jim on filter it's really helpful to have the best ones reissued :-)

[cyberbub] 18/3/2014 14:30

LOL testuser.... in fact ROFLMFAO... can someone put Shonny's post in the header please??Looks like stock must be tight - relatively small buys moving it up substantially...GLA NAI

[testuser123] 18/3/2014 14:24

Just for posterity :)


SHONNY
18 Mar'14 - 10:08 - 17159 of 17172 4 5

Another pathetic day for IOF I see. If this ever sees £1 again I'll eat my hat.

[1madmarky] 18/3/2014 14:09

fresh - someone else is sniffing whatever you have been sniffing by the looks of it.

[meadow2] 18/3/2014 13:44

Perhaps he meant being proofread for publication!

[freshvoicem] 18/3/2014 12:45

My nose tells me a RNS is being corrected at the moment?

[superg1] 18/3/2014 11:32

I do hope Blaine county does turn into a oil area, as there is absolutely no way imo that anyone will get water rights for industrial use in that area.

In water terms it's known as the Milk river area.

They are in a big deficit already just for irrigation. What's more Canada have been allowing 33,000 acre feet of their allocation flow into Montana, Canada have plans to build a reservoir to keep their share for use which further depletes the milk river area.

There is a full report in it from 2012. The water deficit no doubt played a heavy part in the award of a discharge permit to IOF.

They don't even mention industrial use, as that has yet to feature in the area re fracking. One could argue M.E. could use other methods, but unlikely as they are already talking waterflooding techniques.

[ramsey11] 18/3/2014 11:12

Bet you've eaten a few already

[shonny] 18/3/2014 11:04

It's a pork pie hat actually.

[engelo] 18/3/2014 11:02

2012 presentation PDF for MOntana. Some useful Shaunavon maps. Montana have 270k acres: values used in the JV were $175 per acre for Shaunavon acreage (110k) and $75 for the remaining 160k.