Stratic Energy Share Discussion Threads

[in_flu_ence] 04/8/2008 22:43

Another nice article to just strenghten my belief in SE. Thanks Steel for posting.

[rathkum] 04/8/2008 21:07

I can relax now, thanks for posting the article, very appreciative.

[steelwatch] 04/8/2008 17:47

Big UK gas project in prospect
One trillion cu ft development would be largest in Southern North Sea for years
By Jeremy Cresswelleditor

Published: 04/08/2008

Drilling is about to start on the Southern North Sea East Breagh prospect which, if successful, could clear the way for the largest UK Continental Shelf dry gas development for years.

Breagh is on North Sea block 42/13, roughly halfway between Easington gas terminal 110km to the south-west and the Teesside CATS terminal 105km to the east.

There is talk of a one trillion cu ft gas in place development if it turns out that East Breagh is as large as calculated and is connected with the promising West Breagh probe of late-2007.

This suggests a $1billion-plus development based on recoverable reserves of about 600billion cu ft.

Among companies set to benefit from success would be Aberdeen-headquartered Faroe Petroleum.

The Ensco 70 jack-up drilling unit has been contracted to drill at least two wells on Breagh this year and, by Christmas, the overall scale of the potential development will be better defined, according to Stratic Energy, a minor partner.

The East Breagh probe is expected to be vertical and will not be tested.

Breagh was originally drilled and tested by Mobil in 1997 via the 42/13-2 well. The well encountered gas and was perforated and tested over five intervals within "tight" Carboniferous formations at an unstimulated rate of 3million cu.ft per day.

An earlier well 42/13-1 drilled by BP in 1968 to the east of 42/13-2 encountered 13m (43ft) of wet Scremerston Sandstone.

Last year's 42/13-3 well was drilled into the Carboniferous target previously encountered by the 43/13-2 well of 1997 and established a total gas column of 140m (460ft). The well was suspended as a potential gas producer.

However, this most recent well was drilled through the reservoir interval using an oil-based mud to avoid the formation damage experienced in the discovery well. The well was flow tested successfully at up to 17.6million cu ft per day – a big lift from the original well, though still not enough to unequivocally demonstrate commerciality.

It was interpretation of 3D seismic shot over the licence that suggested East Breagh might be large, since when there has been further processing of that data prior to Ensco 70's campaign, which Stratic says includes at least one more West Breagh well.

The objective will be to establish whether commercial flow rates can be achieved from a horizontal bore, though it is already being assumed by some that a 240billion cu ft project at least is in that bag and that this will establish a new Southern Gas Basin production hub.

About to be drilled East Breagh is reckoned to hold a prize of at least 340billion cu ft of gas.

According to analysts at Tristone Capital, and assuming success with the latest well, only Dana Petroleum's recent Babbage discovery of some 300billion-plus cu ft can rival Breagh in size.

Tristone says "the partners believe seismic interpretation shows Breagh to be a single structure with a low or depression zone connecting the east and west segments".

For now, the gross reserves estimate range for West Breagh is 151-373billion cu ft, while the East Breagh range is thought to be 346-888bcf. This suggests gross in-place reserves for the duo is 1.261trillion cu ft.

Tristone's analysts say that, should there be future success in drilling the nearby Airidh prospect, this could further expand the prospectivity of Breagh. Indeed, a number of prospects have been identified on block 43/13, suggesting the possibility of multi-trillion cu ft of gas.

Airidh may be drilled late year, otherwise possibly early-2009, and the objective is thought to comprise some 100billion cu ft of gas.

Operator Sterling has the Ensco 70 on hire until September, 2009, so there is scope for some flexibility in the schedule.

Breagh partners comprise Sterling with a 45% stake; EnCore with 15%; RegEnergys, 15%; Stratic, 10%; Faroe, 10%, and Petro Ventures, 5%.

[in_flu_ence] 01/8/2008 13:35

The petrofac article is very encouraging. One of their core area and one of the largest project in UK for them just give a very good signal for its partner in the Don area.

Everything seems to be well planned and ready. Just wait for the excution and NR.

[steelwatch] 01/8/2008 02:18

NORMAND MASTER + Sea Lynx or Sea Tiger

[steelwatch] 01/8/2008 01:57

Nice little writeup in here about Don

[steelwatch] 29/7/2008 08:21

Reassuring to see the new CFO tuck some away for his old age.

[petoil] 15/7/2008 19:53

Breagh wells should be starting soon also.Were also talking about selling turkish assets.So should be a few announcements in the next month.

[steelwatch] 15/7/2008 09:42

The John Shaw semi submersible should be on the move soon.

14.07.08 Petrofac R/M John Shaw 14 d firm + opt. 22.07.08

[steelwatch] 20/6/2008 14:58

Nice little break out! Will it last?

[jimarilo] 20/6/2008 09:25

No not yet Steel been up early this morning after the news of Ithaca last night in Toronto

Endeavour put a bid in for them, way to cheap so far ;-)

Will look at it tonight need to go out now, the bid for Ithaca should be good news for the likes of Stratic

Edit was it something I said ? ;-)

[steelwatch] 20/6/2008 09:16

Jim - many thanks. Now linked in the header. Have you played the webcast? (Skip the first 22 minutes and follow the AGM presentation simultaneously).

[jimarilo] 20/6/2008 05:53

Hi Steel,

Link here contains an Envoi synopsis on Viking Garben, maybe of use





Also within the second link a mention of Monterey (BLR)

Cheers !

[steelwatch] 11/6/2008 16:00

Duty for Northern Producer

Wednesday, June 11, 2008


Petrofac has agreed to become the duty holder for the Northern Producer floating production unit which is due to be deployed on the Don West and Don South West developments in the UK North Sea.

Under the terms of a contract with US-based vessel owner Sea Production worth £15 million per year, Petrofac Facilities Management will become the legal duty holder for operations on board the semi-submersible once it has completed a refit at the McNulty

Previously Petrofac held a 10-year facilities management contract for the Northern Producer while it operated for Chevron on the UK Galley field.

Also Petrofac - through its Energy Developments division - is operator of both Don West and Don South West fields.

The two fields gained development approval from the UK government last month and they are due to go into production in the first half next year, using shuttle tanker offloading for the first six months, and will thereafter export production via a new pipeline to Lundin's Thistle field platform.

Currently the Northern Producer is undergoing a life extension programme at the McNulty yard, in South Shields, Tyne and Weir involving extensive upgrades and modifications.

[deep powder] 28/5/2008 13:48

good news on West Don...

[steelwatch] 22/5/2008 07:45

Highlights in Q1 2008:Operations:
West Don project in North Sea on-track: field development programme expected to be approved imminently, key sub sea contracts awarded and development drilling due to commence in third quarter, 2008

Project team established by operator for the development of Longanesi gas discovery in Italy; development plan, production licence application and environmental permits expected to be submitted mid year 2008

Crawford project in North Sea moved into development planning phase following successful 2007 appraisal well; submission of field development plan targeted by end 2008

Drilling rig contracted for 2008 appraisal program of at least two wells on Breagh gas discovery in North Sea, expected to commence in June

Planning advanced for well in late 2008 on Cairngorm discovery in North Sea to test potential high productivity of reservoir

Nasrani prospect approved for drilling in late 2008 in Block 17, Syria

First gas from Ayazli field completes development of Phase I of South Akcakoca project in Turkey. Total net production of 126.9 mmscf for the quarter after resumption of production in February following repairs of pipeline damage suffered in 4Q 2007.

Financial (all amounts in US dollars)

Net loss for quarter of $5.1 million (1Q 2007: $2.1 million)

Issue of convertible notes raised $42.5 million, which closed in April 2008, for general corporate purposes

New bank facilities totaling $150 million secured.

[in_flu_ence] 08/5/2008 16:39

Nice upward move. Hope it can last with this solid company.

[jack brent] 08/5/2008 16:21

Ah, good point. Will try

Thanks Steel

[steelwatch] 08/5/2008 16:11

Jack - I'm strictly a shares man. Any good looking from the TSX angle?

[jack brent] 08/5/2008 16:06

So disappointed I couldn't get these in an S/B or CFD.

Anyone else bought recently outside of shares?

Thanks, JB

[rathkum] 07/5/2008 09:03

For some solid and well informed discussion on Stratic Energy,sign up to the InvestorVillage discussion board. If you in the stock you really should. I have gone heavy on this stock based on 1-2 years prospects.

[deep powder] 07/5/2008 07:45

From The Express today:


SHARE WHISPER: Stratic Energy (dealers say it is talking up prospects for its
part-owned West Don field in the United Kingdom North Sea in a round of
presentations to London institutions)