Iofina Share Discussion Threads

[shonny] 17/3/2014 10:15

Sp hanging on to the seventies by it's fingernails this morning. Going to lose it's grip soon. Now nearer 50p than £1. Even the £1 by Xmas rampers must be having doubts now.

[bocker01] 17/3/2014 10:14

It's not a question of getting excited Meadow, simply obtaining a vague underastanding of what this asset may be worth if indeed it is eventually exploited. I think that's a fair and relevant desire. SG has obviously got a lot of knowledge regarding this.

[superg1] 17/3/2014 09:30

Bocker

I need to read up a bit more on it as I can see they have already identified 'live oil' in the area described.

The plan is to do Horizontal wells. This activity has been going on over the last few months.

15 to 20 bopd over just a 5 foot vertical section. So I assume a long horizontal well would produce a lot more than that.

1. Well 1 penetrated both Upper and Lower Shaunavon zones and a 5-foot interval was perforated and the upper zone yielded an approximate 24-hour rate of 15-20 barrels (90% oil cut) unstimulated. The Lower Shaunavon had oil shows in core and on logs over a 40-foot transition zone.

Down the road stuff but if M.E. demonstrate good oil flows, what follows next will be interesting. When the Alberta Bakken hits started West of IOF everyone and his gran appeared lease grabbing.

If M.E. hit well, it should in theory put a big flag on IOF's land.

[meadow2] 17/3/2014 09:29

Calm, down, calm down; getting excited again!

[superg1] 17/3/2014 09:20

Like any oil play until the drilling is done then no one knows. I will be following the progress of Montana exploration with interest.

They talk of the Shaunavon which is called the sawtooth and Bowes.

In he admission document pre frack boom, IOF talk of injecting waste water into the Bow island and sawtooth levels.

'Partial injection into each of the deep formations including the Bow Island, Sawtooth and Madison formations'



The kick above shows Bow island being mentioned in Liberty county which is the western Boundary for IOF, they have acreage in that county.

Each level can get many different names, but clearly what Montana exploration have drilled, exists in levels under IOF acreage. So it is well worth keeping an eye on how Montana E get on with those wells imo.

M.E. talk of various fault points, IOF acreage has plenty of fault lines.

[bocker01] 17/3/2014 08:53

SG, I have never really looked at the oil side since it has always seemed just to be a lucky bomus if at some distant future date it ever happens. But if there is oil under IOF's land, as seems very possible, and I have got this right - what potentially could 290,000 acres x 100ft translate into top/bottom case in terms of extractable barrels. Or is simply just impossible to even guess at? Typically what is the worst case / best case typical royalty.

[superg1] 17/3/2014 08:50

On another VERY VALID point I suggest those interested check the links and comments.

Oil is down the road, BUT how far. I keep an eye on things but don't post too often on the subject. IOF themselves comment on 3D data and mud logs pointing to 'reasonable oil'. From time to time they have been in talks re a farm in. They may be now for all I know.

However to show the migration comments I make take a look at this

Montana Exploration, this is the page which shows their area in Montana



Havre on the map is roughly where IOF acreage starts, running west and up to the Canadian border

Here is the IOF map. You can see the north south Sas/Alberta dividing line to the north.



Now the important bit, news just weeks old.


Montana has substantially reduced the risk of its Shaunavon resource play over the past 6 months through the drilling of 3 vertical test wells, the independent review of petrophysical and geological data by internationally recognized independent experts and the seismic mapping of a regional play in the Upper Shaunavon. Oil was encountered in both the Upper and Lower
Shaunavon in the test wells that were drilled within a 45 square mile 3-D seismic program that was conducted on a portion of the Company's approximately 150,000 net acres on the Shaunavon trend in Montana. Montana intends to exploit both the Upper and Lower Shaunavon potential on its lands through drilling horizontal wells commencing with Upper Shaunavon offsets to its Andromeda test well.

I will be watching the progress with interest. I doubt IOF are aware of it.

[superg1] 17/3/2014 08:33

iofra

Activity goes both sides of the acreage and creeps closer. The large area only ever had about 5 wells that went to those depths some decades ago, that's why mud logs exist in some regard. IOF picked up all the 3D data too. The big interest is North Dakota and the migration into east Montana.

It has only been known for about 10 months that the 3 forks contains a massive amount of oil. Continental are leading the charge there. Prior to that they thought it contained water.

The 3 forks is under their entire acreage about 100' in thickness. Even more recently, the Nisku is getting attention, that is under them too. Nisku action and horizontal drilling is appearing too, west of IOF.

That sort of interest is down the road, but there will come a time once leasing tightens up that someone will want to explore the area for oil.

[iofra] 17/3/2014 08:21

Rose Petroleum (AIM: ROSE) is pleased to announce that it has signed a farm-in agreement under which its newly formed subsidiary, Rose Petroleum (Utah) LLC ("Rose Utah"), can acquire 75% of certain oil, gas and hydrocarbon leases covering approximately 195,000 net acres in Grand and Emery Counties, Utah (the "Leases" or the "Project").

13% uplift in share price - yet Iofina is sitting on around 290,000 acres in Montana that is not reflected in share price.

[superg1] 17/3/2014 08:09

Bakken Published 15th March

In January, Bruce Hicks, the assistant director of the North Dakota Oil and Gas Division, spoke at the Bakken-Three Forks Shale Oil Innovation & Expo in Grand Forks. He said there are about 10,000 operating wells in North Dakota, of which 6,627 are in the Bakken formation. To fully produce the Bakken, 40,000 new wells will be drilled in the next 15 years.

[rogerbridge] 17/3/2014 07:49

Englo, yes I understand that, what I meant was that I was not expecting IOF to say that they had replied with answers to the queries. Hopefully, we will receive confirmation that our modifications have been accepted and application granted.
Looking forward to a lot of interest in our oil prospects.

[superg1] 16/3/2014 23:40

Engelo

I've lost count re IOF acreage. It was a lot more at one point but they thinned it down on the 3D data.

I've identified about 6 names they have left registered on lease data. It stretches from Liberty county to just East of the Fresno as far as I can see.

One day maybe. The uplift puts the 3 forks at less than half the depth of the 3 forks at the bakken main area.

[superg1] 16/3/2014 23:26

Besides the Chile earthquake that happened about an hour ago. 7 on the scale so may cause power and infrastructure issues (iodine producing area), here is the most important comment today.

"It was one of the most comprehensive away performances at Old Trafford for many years. Liverpool absolutely battered them in all areas and United looked like strangers. Make no bones about it, it could have been six or seven, Liverpool's movement was so good.

"Liverpool were on the front foot and United were nowhere near it. Adnan Januzaj and Juan Mata out wide is not working for them. You can see why Jose Mourinho got rid of Mata - you need legs to get up and down and he hasn't got that. There's no point him being on the pitch."


I'm suddenly a Robbie Savage fan.

Best short Man United shares.

Suuuuper Millwall, a pile of trash, going down too, lovely jubbly, what a great season.

[superg1] 16/3/2014 21:35

Back on the Continental subject who are busy in the area.

3 well completions reported the other day, doing around 600 bpd of oil each details below.

One thing struck me regarding recycling water, if you look at the bpd of water produced 350, 530, and 692. Each fracked well needs around 50,000 to 100,000 barrels of water. It would be a complete pain in the backside trying to co-ordinate the transport and collection of water for recycling for transfer to the next well to be fracked. Plus not all water can be used as with recycled you end up with a percentage of concentrated waste water too. It's more expensive to recycle anyway.


Continental Resources Inc. reported the completion of three Bakken Formation wells in Richland County.

The Levengood 3-5H has an SHL at NW NW 5-23N-53E (230 FNL/1274 FWL) and a Bottom Hole Location of 14,038 feet at SW SW 5-23N-53E (240 FSL/586 FWL). The well reported an IP of 688 Barrels of Oil Per Day (BOPD), 282 Thousand Cubic Feet of Gas Per Day (MCFPD) and 350 Barrels of Water Per Day (BWPD).

The Levengood 4-5H has an SHL at NW NW 5-23N-53E (230 FNL/1319 FWL) and two laterals with BHLs of 10,317 feet at SW NW 5-23N-53E (1477 FNL/1265 FWL) and 13,887 feet at SE SW 5-23N-53E (238 FSL/1374 FWL). The well reported an IP of 633 BOPD, 1,425 MCFPD and 530 BWPD.

The Levengood 5-5H has an SHL at NE NW 5-23N-53E (230 FNL/1364 FWL) and a BHL of 13,980 feet at SE SW 5-23N-53E (236 FSL/2061 FWL). The 5-5H turned in an IP of 583 BOPD, 291 MCFPD and 692 BWPD.

[engelo] 16/3/2014 21:29

rogerbridge (17102) 290,000 + acres not 200,000 . From IOF website:

!Since its incorporation the Group has steadily acquired over c.290,000 acre land position in northern Montana'

This has been verified with the co.

[kop202] 16/3/2014 20:58

We'll I'll be puckered

[monty panesar] 16/3/2014 20:42

Knowing IO4 and 5 are producing is way more important than that water stuff at this stage.
Hopefully we might get confirmation of the io5 build completion in next couple of weeks. Also could we get some mini news soon?

[rogerbridge] 16/3/2014 19:31

Not expecting rns regarding reply of water queries, this was not promised.

[rogerbridge] 16/3/2014 19:31

Not expecting rns regarding reply of water queries, this was not promised.

[monty panesar] 16/3/2014 19:09

I wouldn't think we will get an RNS saying water info resubmitted as that is a given...especially as it is "non-core".

[freshvoicem] 16/3/2014 18:59

Looks as though IOFINA needs the full time allowed by the Montana water people to provide the 'minor details' that were still outstanding. Now used up 43 of the 60 days already and no sign of an RNS to say completed.
For something that is so near complete we seem to take our time, same as the 2 months to reply to the deficiency letter!

[monty panesar] 16/3/2014 18:51

Reading the below from the last RNS I imagine the approval will come a week or 2 after the inspection? What was unclear from the RNS was whether IO4 and 5 are being inspected at the same time.


"Inspection is expected to occur in mid-March with approval thereafter."

[bobsworth] 16/3/2014 16:24

Taken from:-

Mississippi Lime:
Production & Produced Water Congress 2013


" The development of the Mississippi Lime (the "New Bakken") had been impacted due to the quantity and expense involved in disposing of the brine water. These obstacles have been overcome and now Baker Hughes estimates there are 92 rigs actively working in the core area.[4] With the robust quantity of water and concentration of iodine, the Mississippi Lime has afforded Iofina with an enormous opportunity utilising one of the largest waste streams in North America. Iofina's proven IOsorb™ technology allows operators to reduce costs associated with the disposal of their brine stream. This allows our partners to reduce their operational expense compared to non-Iofina partners in the area.

Iofina is currently working with several of the area's largest producers and continues to expand its presence".

.......................................................
9 months on Iam surprised we have not heard more about their workings with this area's largest producers - Sandridge Energy, Chesapeake Energy Corporation, Range Resources Corporation and Midstates Petroleum.

[angel of the north] 16/3/2014 12:13

If you wonder what IOF do whilst 'sitting on their hands'.....take a look here. It's surprising what the chemical division is producing....and remember no longer 'buying in' raw materials. This division is doing well!

hxxp://www.iofina.com/iofina-chemical/products