Stratic Energy Share Discussion Threads

[jak108] 13/8/2009 14:32

Could it not be that the well progress is rather slower than anticipated due to being a HPHT environment- also some other unexpected challenges?

It could also be as speculated that it is well dst which is the reason for extension - hope it dst's! GL all.

[steelwatch] 13/8/2009 13:02

ROB - the rig Ocean Guardian has been extended into September:



Scroll down to line 50. (changes are in red).

This is a hopeful sign that testing is happening. If it were a p & a, then no point in hanging around.

[robizm] 13/8/2009 12:57

Where is the RNS then, if they have indeed found more oil.

[oiljack] 13/8/2009 06:09

Steel - read the IV bb - Bowmore is a huge hit!

[oiljack] 13/8/2009 05:16

Well done, sir!

Outperform from Tristone. Nice!

Thanks, OJ

[steelwatch] 13/8/2009 03:54

OJ - look bottom right in the header above. News travels fast amigo!

[oiljack] 11/8/2009 23:05

Well Steel...had to grab some more as per my word. Canaccord continues to buy like Pirates. I'll be watching tonight real late again....:( (with little sleep).

This drill is looking very good :)

Almost 4 mm shares traded between the LSE and TSX.

Says it all.

[steelwatch] 11/8/2009 08:59

Sweet dreams OJ. Palms and hammocks spring to mind.

[oiljack] 11/8/2009 08:53

I'm looking at your chart and it screams big hit....early leak. The last time there was volume like this in London it gapped up from 15 p to 19 p (app) and Canaccord has never been a friend of SE. Those 2 smell of informed buying to me.

Going for a quick snooze and then back to check on LSE (AIM) and TSX. If Canaccord is buying at the open I'll grab some more then too.

Cheers sir!

Many thanks, OJ

[steelwatch] 11/8/2009 08:47

OJ - not I unfortunately, but I maxed out some time back.

Should have posted the link, but, as you say, no tugs on the radar and PSV's are ten a penny at the moment.

[oiljack] 11/8/2009 08:41

What does that mean???

I see no rig calls for a move (i.e. PNA) and only an August 20th supply rendevous with the Ocean Guardian for supplies.

Steel...with this volume you have to believe we have a chance at 50 mmboe+ (15% working interest). Someone in London is watching that rig.

Was that you?? hee hee hee

[steelwatch] 11/8/2009 08:39

PSV Highland Citadel's 60 day contract ends this week.

[steelwatch] 11/8/2009 08:34

OJ - Yes indeed. Although I don't post too frequently, I am also an avid fan of your excellent research over the pond.

[oiljack] 11/8/2009 08:29

Hey Steel if you're around strap on your Bowmore hat. One buyer in Canada (Canaccord) bought 500-600k shares yesterday and look at the massive buys going through in London in such a short time.

Off to sleep. Waiting very impatiently. Hey Steel - did you know that the bottom, down dip portion of the Bowmore drill area, is a strat trap??

OJ

Man 750k shares already traded.

Cheers sir!

[chicken charlie] 10/8/2009 09:02

BUY BUY BUY This stock is CHEAP

[steelwatch] 10/8/2009 09:01

and from Petrofac:

West Don Field (Petrofac 27.7%)

The drilling and tie-back operations of two production wells and one water injection well have been completed successfully. One production well has been on-stream since 28 April and has recently been producing at gross rates of around 6,000 barrels per day (bpd) without gas lift. Production from the second well commenced on Friday 7 August. Water injection is expected to start-up within the next few days.

[steelwatch] 10/8/2009 08:55

More from Valiant:

Valiant is pleased to announce that the second production well on West Don (Valiant, 17.275%), located in Blocks 211/18a West Don Area and 211/13b (License P236 and P1200 respectively) in the UK North Sea, began production at the end of last week and start-up flow rates have been in line with expectations. The water injection well has now been completed and will be ready to begin pressure support in the coming weeks.

The first production well on West Don has been producing at a gross rate of around 6,000 barrels of oil per day ('bopd') having experienced a steeper decline than was initially expected at the time of Field Development Plan submission. The performance is, in part, a result of the delay to pressure support from the water injection well. Production from the well has now been stable for some time and the partners believe that the imminent start-up of the water injection well will support production rates along with improved uptime on the Northern Producer. Based on the limited reservoir information gathered so far, the potential for a third production well in the south of the field is currently under consideration by the field partners.

[steelwatch] 10/8/2009 08:15

Oj - thanks for your excellent contributions and research on IV.

[oiljack] 10/8/2009 08:13

I like it. Wish you could do that for IV. Oh well....you'll get the customers if the Galley and Dirk sands come up trumps on Bowmore.

[steelwatch] 10/8/2009 08:11

Hi Oj. Great page, but where are the customers?

[oiljack] 10/8/2009 08:10

Steel....very late acros the pond. Entered the top of the payzone last Friday. Coring and drilling 20 metres or so a day. The market will tell us as soon as today and as late as the end of the week.

Great webpage sir.

Good night, OJ.

[steelwatch] 10/8/2009 07:51

charlie - not long for Bowmore news now.

[chicken charlie] 10/8/2009 07:33

25p plus today

[steelwatch] 10/8/2009 07:21

Second West Don production well on stream


CALGARY and LONDON, August 10, 2009 - Stratic Energy Corporation (TSX Venture:
'SE', AIM 'SE.') ("Stratic" or the "Company") is pleased to announce the
commencement of oil production from the second production well in the West Don
field (Stratic 17.25%) and the imminent start up of water injection and gas lift
operations within the field. The field operator, Petrofac, is working towards
bringing the field up to its full operating capacity over the next few months;
the two production wells are currently producing in excess of 11,000 bopd gross
and are expected to benefit from pressure support from the commencement of water
injection and gas lift operations.


Overall plant uptime during the offshore loading phase is expected to improve
once all well stock from West Don and its sister field Don South West are
brought on stream and the plant fully commissioned. Since the first well was
brought on stream on April 28, 2009 the field has produced over 800,000 barrels.
The first two cargoes from the field have been lifted and sold at an average
price to Stratic in excess of $67.34 per barrel. Stratic's net share of these
proceeds amounted to approximately $8.25 million.


The remaining elements of the development plan involve tying the field back to
the nearby Thistle platform, expected to be completed and commissioned early in
2010, at which point offshore loading will be discontinued. Stratic expects to
provide an update on production estimates for the balance of this year and next
year once the current commissioning phase is complete and both production wells
and the injector well are operating under stable conditions.


Mark Bilsland, Chief Operating Officer, commented "We are pleased that the
second production well is now on stream and that water injection and gas lift
operations will commence shortly. We look forward to reaching full production
capacity and achieving improved plant efficiency over the coming months".