Stratic Energy Share Discussion Threads

[jaws6] 21/8/2009 12:33

iggester
Bestway on spread like this you put limit bid order say at 22.5 for buy . then see what happens .if you do not get it you know yo have to pay bit higher and try again at 23 after 2 hour.

[jamesiebabie] 21/8/2009 12:22

Here's the bid/spread pattern:

[iggster2000] 21/8/2009 09:49

Guys,

Looking at dipping my toe into these but the spread looks pretty ridiculous. What is the normal spread on these?

TIA

[steelwatch] 20/8/2009 22:53

Thanks rrogans and jaws. It's a grey area to me, so have stuck with the likes of IPR.

[jaws6] 20/8/2009 20:30

Steelwatch
I got in isa and TDW and selftrade says yes, can buy in ISA.

[oiljack] 20/8/2009 19:38

Spangle - I'd rather have a 600 foot oil column, like the Nexen-Premier Oil (ex-Oilexco) Bugle well drilled just 4 kms to the east and they found no oil-water contact point there in the Q1 - 2008 drill. They are going to drill a Q4 Bugle-2 appraisal well very shortly.



Here is the data from the ex-Oilexco Bugle well drilled several kms away and on trend...
Oilexco Announces the Successful
Appraisal of the Bugle Discovery
Calgary, Canada, February 26, 2008


Bugle Appraisal Update

• At least 282 feet of oil column identified in Dirk Sand oil accumulation
• At least 280 feet of oil column identified in Upper Galley Sand oil accumulation
• Commerciality of Bugle discovery confirmed
The original 15/23d-13 discovery well, drilled in 1997, encountered 85 feet of oil-bearing Jurassic Dirk Sandstone and 123 feet of oil-bearing Jurassic Galley Sandstone. Both of the intervals were tested together at a rate of 7,400 barrels of oil per day ("bopd") (44° API oil) and 9.06 million cubic feet per day ("MMcfd") of gas.
Oilexco re-entered the 15/23d-13 well on December 24, 2007. The 15/23d-13z sidetrack well was successfully kicked off from the original well bore on January 6, 2008 and drilled to a total depth of 15,898 feet on January 28, 2008.
The main objective of this appraisal well was to establish an oil/water contact in the Dirk and Upper Galley sands by drilling a location on the flank of the Bugle structure. Oil bearing Dirk Sandstone and oil bearing Upper Galley Sandstone were encountered, establishing at least 282 and 280 feet of oil column respectively, and significantly increasing the size of the Bugle oil accumulation.
Oil samples were recovered and reservoir pressures were successfully recorded from both the Dirk and the Upper Galley Sandstone.

_________________________________________________________________________________________


(1) Drilled to a similar depth as Bowmore

(2) No oil-water contact found

(3) Close to 600 foot hydrocarbon column

(4) From td through test to NR was 1 month exactly

[rrogans] 20/8/2009 19:23

Hi steelwatch, I think it is ISAable - I have it in my SelfTrade ISA. AIUI there are different tiers on the TSX venture exchange, and the top tier(s) is OK.

Rich

[steelwatch] 20/8/2009 19:08

Spangle - is there one? I don't know.

Not sure if this one is ISAable either as it is listed on the TSX Venture exchange and AIM. Dual listing requires at least one main market listing.

Got to leave it there for tonight.

[steelwatch] 20/8/2009 19:02

JAK - you're welcome. Good fortune is always helpful in this game.

[spangle93] 20/8/2009 18:57

Oiljack - HPHT by itself doesn't necessarily make an extremely dangerous well. These wells just need good planning and the right equipment. It's an appraisal, so they're not drilling blind in terms of where pressure ramps up.

The well gets tricky if the pore pressure (strictly the collapse pressure) and the frac gradient close to create a narrow mud weight window. That is more common on HPHT, but true of any well. It also explains why HPHT wells don't get drilled horizontally, but that's for another day

Thanks for the heads up via the AST board. I'm planning to do some research, cos I have some ISA cash arising from EEN, though looks like I may have missed the boat? Other than that it's an appraisal, do you have any reasons why you think it will be more successful than published.

By the way, the new Britannia platform would probably be able to accept the fluids if it were commercial... but then i'm sure you know that. Regards to beamreach, if you're talking


edit steelwatch - what turnkey contract?

[jak108] 20/8/2009 18:47

Steelwatch - thanks for the info re the HPHT wells, I will spend some time on it - looks rather challenging although not something that has not been encountered before. Experience is the key differntiator I guess. Se. has some rather experienced people - that should help hopefully! Good luck all.

[steelwatch] 20/8/2009 18:20

Oj - do we know who the turnkey contract is with?

[oiljack] 20/8/2009 17:20

The largest concern, for me anyways, is a down-hole mishap. These are extremely dangerous wells to drill and complete.

Believe we have a winner. To what degree remains to be seen.

[jak108] 20/8/2009 16:05

OJ - much appreciate your detailed response, and fingers crossed re the drilling operations in a very challenging environment as well as for the RNS circa 7-8th Sept.

[oiljack] 20/8/2009 14:43

The rig paused operations for three days. No reasons were given. I assumed they were testing the Upper Jurassic sands, which they are allowed to do. They are not allowed to test the bottom or Lower Jurassic so they must core it very very carefully.

I assumed the stoppage had been for dst's. It was not. The rig has been put under tight hole once it entered the targeted payzone.

RNS around Sept. 7th-8th is expected. Depends how fast the coring and completion goes. Very dangerous and very slow process in a 15k foot+ HPHT well on the ocean floor at 500 ft.

OJ

[jak108] 20/8/2009 14:37

Oiljack in one of your yesterdays posting on IV re Bowmore you said we are NOT at TD. Whereas some time back you said we were at TD and due to start ds testing. Is this based on your latest understanding via your friendly contacts etc? Moreover you say it is now being classed as a 'tight hole' - implying no release of information re the test results etc. Any chance of any elaboration as to what all this is leading up to and the associated time scales? Thanks in advance.

[jaws6] 18/8/2009 11:51

sorry it was stratex . my fault . i saw news and jv with same name .

[chicken charlie] 18/8/2009 11:28

What does it say in FT.

[jaws6] 18/8/2009 07:25

Mention in FT today .

[oiljack] 17/8/2009 18:50

Bowmore well final results...middle of September.

Q2 results next week. Lots of "news" coming. Stay tuned.

Talk to UK managament....almost never. Prefer "my friends."

OJ

[jak108] 17/8/2009 18:38

OJ - You seem to be very well informed and with good contacts. I have read your posts on IV and they are well researched and well reasoned.

It will be good to have Longanesi sale finalised and agreed - being debt free should give another boost assuming they achieve a good price outcome.

Do you also approach the company management for general discussion(s) / clarifications? It seems not so easy to talk to them in UK for some unknown reasons.

When do you think we may hear from SE re the Bowmore results - 2 to 3 weeks?
Thanks in advance

[oiljack] 17/8/2009 17:39

Steel - SE managment team, everyone, are in Rome negotiating the final sale terms for Longanesi. I would expect news very shortly then. This would wipe out all of our debt.

OJ

[steelwatch] 15/8/2009 01:22

westie - was that you with de 2 x 25 chunks?

[steelwatch] 15/8/2009 00:34

wf - welcome aboard.