Sureserve Share Discussion Threads

[igoe104] 02/10/2018 11:21

Here we go a new thread, hopefully a much more successful one.

[igoe104] 02/10/2018 11:19

TAKEN OVER £1.25..

[robin_of_loxley] 11/4/2006 05:21

From the last announcement:

"The medium radius drill curve through the troublesome Kreyenhagen Formation to landing point will now be drilled with 13ppg oil based mud and put behind a 4 1/2" liner. The target Gatchell oil sands will then be drilled in balance with a 9 ppg KCL-Clarazin mud system in a 3 3/4" horizontal hole to 4,572 metres (15,000 feet) measured depth (4,146 metres {13,603 feet} true vertical depth) and a drill stem test through 2 7/8" slotted production liner will be carried out on the pay zone. Final end point of the well is within 30 metres of the Mary Bellochhi #1 oil well which produced on test at rates of up to 223 barrels of oil per day and 0.8 million cubic feet per day in 1986. A further update on the program will be given when relevant results come to hand."

Therefore, as the last announcement stated that a further update would be given when relevant results come to hand, I wouldnt be suprised to hear either just before or just after easter that they have arrived at TD and cased off with the 4 1/2" liner. Likely to then be another few days to drill through the pay zone, run the slotted liner, and would expect to see some results from drill stem test within seven days or so of that.

Sounds like slow and steady, progressing as expected to me.

No advice intended.

RoL
>>>>>--------------------->

[robin_of_loxley] 28/3/2006 01:33

Directors

Dr Bradford Lawrence Farrell - Managing Director. B.Sc. (Hons Econ Geol), M.Sc., Ph.D. F.A.I.M.M. M.M.I.C.A.; CPGeol, M.I.M.M.; C Eng. M.P.E.S.A.

Allan Peter Woods - Executive Director and Company Secretary. FCPA, FTIA, MAICD.

Dr Phillip Linsley - Non Executive Director. B.Sc. (Hons Geol) (London) Ph.D. (London), MBA (Kingston).

Dr Wolf Martinick - Non Executive Director. B.Sc, Ph.D., MAIMM, EIA, ECA.

Company Secretary

Allan Peter Woods - FCPA, FTIA, MAICD

Registered Office

4 Bendsten Place
Balcatta, Western Australia 6021
Telephone: [phone]
Facsimile: [phone]

Technical Office

25 Prowse Street
West Perth, Western Australia 6005
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]

Corporate Managers

ASPL Pty Ltd
4 Bendsten Place
Balcatta, Western Australia 6021
Telephone: [phone]
Facsimile: [phone]

Auditors

BDO
Chartered Accountants & Advisers
Level 8, 256 St Georges Terrace
Perth, Western Australia 6000

Solicitors

Simon Watson LL.B., B.Ec
17 Ord Street
West Perth, Western Australia 6005

Share Registry

Computershare Investor Services Pty Ltd
Level 2, Reserve Bank Building
45 St Georges Terrace
Perth, Western Australia 6005
Telephone: [phone]
Facsimile: [phone]

Bankers

National Australia Bank Limited
District Commercial Branch
Unit 7, 51 Kewdale Road
Welshpool, Western Australia 6016

Home Exchange

Australian Stock Exchange Limited
Exchange Plaza
2 The Esplanade
Perth, Western Australia 6000
ASX Code: SUR

[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.

[oliverleftwingtit] 22/1/2003 01:59

Sorry Kat, Luke knew what he was doing. Youve been mugged.

regs olly, ps, Kat ive made a bomb in the last 6 weeks on gold shares and oil shares. Well over £250,000 , why not lets put the past behind.

If you can do that why not join me on the AVM thread or RPT thread. Theres plenty in it for you and I like a personality, no joking you are welcome. You do have to go long though.

[katsuman] 21/1/2003 23:44

Olitit, contrary to what you may think you know, Giulaino and Jonathan are the good guys in this. For them, it is in the bag, Luke is the loser.

I am happy with 60p, but was hoping for 70pish. Life init!

Now, be a good fellow and get back to the betting office!

CU

[oliverleftwingtit] 18/1/2003 23:45

Katsuman, who are you kidding????????????, report it to the FSA, you couldnt even report it correctly to the FA. Do you know what FA stands for?????????.

Lukes a great guy. Glad hes done the deal, sorry for you though Katsuman.

regs oliver.

[katsuman] 18/1/2003 11:58

Jon/Simon,

Also about to accept the cash (no choice really, do not fancy loan notes), fear that Luke's attitude is not that of his cool ex friends, Osmond, Wray etc...

One is interested in knowing the outcome of the investigation into Kintaro (14%).
Does anybody have any ideas as to the identity/outcome?

What happened to Kintaro's 14%?

If information is posted, and proved concrete, I will refer it the the FSA.

Thanks in advance.

Rgds

[simonevans] 12/1/2003 18:43

I've accepted the cash i'm afraid...although it's all a bit of a rip-off isn't it! Won't be looking at anything Luke Johnson is involved with in the future.

[jonny mac] 12/1/2003 16:33

perhaps all is not lost.......

as at 31 december pinco had received valid acceptances in respect of 80% of signature shares.

if the remaining shareholders decline to capitulate pinco will not succeed in gaining the necessary 90% which would enable them to compulsorily acquire the outstanding capital.

the listing of the company will be cancelled in any event. personally i would rather hold shares in an unquoted company and reap the benefits from its futue success than sell out at a derisory 60p.

i urge you to join me.

[simonevans] 11/1/2003 18:36

Probably just reminding shareholders to accept the offer - quite often happens in non-straightforward takeovers.

[dontrader] 11/1/2003 00:45

Wife took a call last night while I was out from a woman who said she was from Pinco about the Signature takeover. Dont know what she wanted, she will call back on Monday evening.

Never heard of anything like this in any takeover.

Maybe she wants to offer me a special deal, like a realistic price.

Don

[simonevans] 04/1/2003 16:50

It's all a bit of a "stitch-up" isn't it. Never mind, I guess that there isn't much that can be done and 60p in cash is better than nothing. I just think that management have been deliberately running this company down over the last couple of years to buy for a low price...I expect Strada and Bierodrome etc. to suddenly become much more successful when they are privately owned. Might even see them floated again in 5 years time or so...not at this price though. How much is the Ivy and the other flagship restaurants worth? - most of the 60p i expect!

[jonny mac] 04/1/2003 14:16

well, well, well......

the rival parties have now confirmed their joint conspiracy, and the offer is the same derisory 60p per share.

and with 80% of the share capital now netted, the small shareholder is shafted once again. would johnson and co. be taking this company private if they thought it was a dud?

disgruntled and disgusted of london

[gr20287] 19/12/2002 16:40

zzzzz
waiting to see it back down at 45
then I might reinvest previous profit

[katsuman] 29/11/2002 23:44

Interesting that Collins Stewart are holding 207K. Total profit at 60p would amount to a massive £870.

Let's see if they know something we don't.

Personally, awaiting developments with Park/Pinco discussions.

Rgds

[simonevans] 15/11/2002 22:02

Joint offer now being talked about. I guess the two parties have decided that they can both make some money at the expense of minority shareholders.

[katsuman] 15/11/2002 21:11

heaven (re 160).

I would not be able to answer that question.

See today's RNS.
Rgds

[simonevans] 13/11/2002 21:27

the fact that the share price has not fallen suggests to me that a deal will be done. any views?

[heaven] 13/11/2002 14:57

KATSUMAN if Pinco and Luke need 90% and know that Concert will not part with their 29% what was the point in the MBO.