DLS - Drillsearch Energy

[Yella]

Drill Search Energy has a number of leases, the most exciting is in Joseph Bonepart Gulf (NT) where the current wildcat is nearing TD. When almost every director is buying up more stock and as many options as they can you can be sure something is going to happen soon. The lease is adjacent to one of the biggest 'finds' worldwide in recent years. How do I know. I worked on the rig that made that find.
I have bought a bundle of these shares - just waiting now.


Always rely on your own research & judgement - look at Company data and Announcements, ask people then do what you feel comfortable doing

Yella

[milsy]

Drill Search Energy has a number of leases, the most exciting is in Joseph Bonepart Gulf (NT) where the current wildcat is nearing TD. When almost every director is buying up more stock and as many options as they can you can be sure something is going to happen soon. The lease is adjacent to one of the biggest 'finds' worldwide in recent years. How do I know. I worked on the rig that made that find.
I have bought a bundle of these shares - just waiting now.


Always rely on your own research & judgement - look at Company data and Announcements, ask people then do what you feel comfortable doing

Yella
first timer, big find u say, was it gas or oil, if oil I here reservoir quality 50/50!

[RichKid]

DLS getting into a bit of strife with the ASX for non-disclosure about activity at the Canadian sites. Hit an alltime high yesterday, settled back a bit today, waiting on results. Great breakout!

[RichKid]

Change in fortunes for DLS today, looking at the chart I can't believe I missed this breakout early on only saw it a few days ago week when it was too risky for me in terms of risk mgmt. The recent trend still holds though...have you been watching this one TechA- might be another candidate for that speccie thread that started here some months ago? Maybe a bit late but a bounce off support and it may be attractive again.

[brent2]

Hi there,

Just wondering if anyone had heard anything on the grapevine on this stock? Rose pretty sharply yesterday

Regards,

Brent

[doctorj]

Can't say that I've heard anything credible or specific, but I believe they currently or atleast recently were subject to court proceedings - something to do with the issue of shares. Unfortunately, that's all I can recall, but a quick Google (http://www.google.com) should clear it up. There may have been a favourable result in the case, or an indication there was to be a favourable result. Or it could have just been following other junior energy stocks (NWE, FAR, PSA, AMU, COE etc) in an upswing driven by high energy prices. The chart (attached) of gas prices at Henry Hub is particularly interesting and should drive favourable quarterlies for many junior oilers operating in the US.

[brent2]

Yep,

I do have the poison pen after all!!!!

Easy come, easier gone.

Regards to all

Brent

[doctorj]

In these kind of stocks, there are always plenty of jilted long time holders looking to sell into rallies. One more gone is one less you have to worry about down the track.

[Aussiejeff]

Excellent full year result posted just after close of market today.

**Over 300% rise in profits!!** ;o)

Future for DLS is looking very good regarding existing oil/gas sales and new production wells also coming on stream soon. BIG expenditure on surveys/infrastructure also covered by the great profit result, so next few quarters should also be good. Interest bearing debt also slashed significantly.

I got in at .076 a few days back and they have shot to .080 on close today (BEFORE the report was listed). I wonder where they might head tomorrow on the back of the excellent data... I'm guessing .085 by tomorrows close!

Looks very strong from now on...

Go you good thang!

AJ

[yogi-in-oz]

:)

Hi folks,

..... nobody on this DLS breakout ..... ???

DLS ... traders have been aggressively buying
this stock over the past week ..... :)

Looks set to continue, until around 17042006,
when a negative cycle kicks in ... ???

On only the second of a 50+ well program to
increase production ..... :)

happy days

yogi

:)

[pharaoh]

Yogi

You still on DLS?
Where do u se the sp going?

Looking back to aug 05 posts, it hasn't moved much from there

[yogi-in-oz]

:)

Hi folks,

DLS ..... will be alert for some positive
news, with the spotlight focused on DLS,
around 13062006 ??? ... :)

happy days

yogi

:)

[Out Too Soon]

Good news will come eventually, this is another stock with lots of potential that I'm just patiently sitting on. :cool:

[sleeper88]

Good news will come eventually, this is another stock with lots of potential that I'm just patiently sitting on. :cool:

i agree.. but i haven't dipped into this one yet..profits can be made quicker with other stocks atm..but eventually i grab a few of this stock ;) i think they're planning to drill the marina + turtle/barnett prospects in sept 2007 which is still a long time away :( and they're planning to farm out these proposed wells..i wonder if thats a good idea? :confused:

[Out Too Soon]

i agree.. but i haven't dipped into this one yet..profits can be made quicker with other stocks atm..but eventually i grab a few of this stock ;) i think they're planning to drill the marina + turtle/barnett prospects in sept 2007 which is still a long time away :( and they're planning to farm out these proposed wells..i wonder if thats a good idea? :confused:

Can't say I blame you Sleeper, I'd like to talk this stock up of cause but it has been bouncing between .14c & .17c for a while. TOday there are nearly 1 million buyers @ .145c , 1.4 million buyers @ .14c & 1.3 million sellers @ .17c, so it's obvious where the market values the stock @ present. Still long term holders could eventually be sitting on another Woodside or Rio. :)

[Out Too Soon]

i agree.. but i haven't dipped into this one yet..profits can be made quicker with other stocks atm..but eventually i grab a few of this stock ;) i think they're planning to drill the marina + turtle/barnett prospects in sept 2007 which is still a long time away :( and they're planning to farm out these proposed wells..i wonder if thats a good idea? :confused:

Can't say I blame you Sleeper, I'd like to talk this stock up of cause but it has been bouncing between .14c & .17c for a while. TOday there are nearly 1 million buys @ .145c , 1.4 million buys @ .14c & 1.3 million sells @ .17c, so it's obvious where the market values the stock @ present. Still long term holders could eventually be sitting on another Woodside or Rio. :)

[noirua]

I'm starting to research Drillsearch Energy ( DLS ) and would be interested to hear of anyone elses point of view or comment on the stock. Mr Christopher Ryan, Principal of Westchester Corporation, was poking around a bit, reference the meeting in late November last which concerned fund raising by an issue of shares.
Westchester are not exactly a vulture outfit, as I know Mr Ryan has undoubted qualifications and experience with major financial institutions. More, that he, is quick to see an opportunity based on an oversold stock or/and one to replenish Westchester's financial archives.

What now? More moves, as trying to shift weak Directors could appear on the horizon, against Ryan's undoubted ability in choosing when to move on, and an opening left for a return, perhaps.

[Out Too Soon]

It's great that Drillsearch constantly gives us ann/updates unlike some others but this constant Tintaburra "found a bit of oil looks good, capped it movin' on to the next one is like a "dear diary- today was much like yesterday", consequentially investors get just as bored. I suppose we're hard to please. :(
As I said on another oiler thread I have this seemingly unrealistic picture in my head from TV/movies of oil shooting out of the ground & happy oil covered workers dancing around singing out "Eureka, we're rich!" :o

[Trader Paul]

:)

Hi folks,

DLS ... time cycles due on:

24-27082007 ... aggressive and positive move

04092007 ... negative light on DLS ???

13092007 ... BIG and positive news expected here.

05102007 ... positive spotlight on DLS ..... :)

22102007 ... negative cycle here ... finance-related ???

02-05112007 ... 2 difficult cycles expected.

19112007 ... 2 positive cycles ... finance-related???

122007 ... 4 negative and difficult cycles expected in December 2007.

happy days

paul

:)

[Trader Paul]

Hi folks,

DLS ... time cycles due on:

24-27082007 ... aggressive and positive move

04092007 ... negative light on DLS ???

13092007 ... BIG and positive news expected here.

05102007 ... positive spotlight on DLS ..... :)

22102007 ... negative cycle here ... finance-related ???

02-05112007 ... 2 difficult cycles expected.

19112007 ... 2 positive cycles ... finance-related???

122007 ... 4 negative and difficult cycles expected in December 2007.

happy days

paul



:)

...... hope you are holding some, folks !~!

As per post, above ..... positive cycle came in, right on time ... :)

happy trading

paul

:)

=====

[surfingman]

Any thoughts on DLS?

Got a drill ready to spud on the 10th of this month the Marina #1 well in the Bonaparte Gulf, Exxon farmed in with its Australian Subsidiary Esson paying 85% of costs for 65% interest, should create a good amount of following by itself, its an offshore well.

Drill search the operator retaining 15% costs 35% interest.

Target 50 mm BOE with upside 200 mm BOE

4 for 1 share offer announced today @ .10 each.

Share price currently @ .165

I hold and look forward to the drilling to begin...

[surfingman]

Marina 1 – Drilling Update
11th September, 2007

Drillsearch Energy Limited (“Drillsearch”) in joint venture with Esso Australia
Resources Pty Limited, a subsidiary of ExxonMobil Australia Pty Limited, announces an update on the upcoming Marina 1 well.

The jack up rig, “Wilcraft”, was released to Drillsearch, as operator, on 10th September, 2007.

The rig is now being towed from the North/West Shelf, WA, to the Marina 1 well
location in the Bonaparte Gulf, WA. The towing time is expected to be 5 to 7 days.

The Marina 1 well should be ready to spud around 17th September, 2007.

[surfingman]

Marina #1 well should be ready for a Monday spud with entitlement ex date passed on Friday 14th.

Exxon Mobil doesn't state anywhere the potential upside of this drill, but with my opinion it has to be large, there is mixed findings from the media releases stating anywhere up to 250 MM BOE claimed by Drillsearch, not too mention the possible gas shows. And the likely hood of a follow up well early next year too continue the partnership.

Interesting piece:

"Drillsearch reckons Marina could contain more than 200 million barrels of oil equivalent. Its partner in the well — ExxonMobil, no less — isn't saying what it believes the potential is but the oil giant is obviously not interested in wasting its time by drilling anything but a significant target.

Marina is in WA-318-P, about 250 kilometres west of Darwin in a water depth of 65 metres.

Proposed total depth is 2350 metres, so if it all goes to plan, Drillsearch should know within three weeks of Marina's spud-in date whether it's on to a company maker or not.

The well will target three potential reservoir units where hydrocarbons have been discovered in adjoining permits, most notably ENI's Blacktip field, 60 kilometres to the east."
Taken from http://www.theage.com.au/news/barry-fitzgerald/exxonmobil-backs-drillsearch-for-explosive-results/2007/08/26/1188066943715.html

Anyone in on this one?

[surfingman]

The jack up rig, “Wilcraft”, has arrived in the Bonaparte Gulf, WA and is on the Marina 1 location at:

Latitude: 13o 47’ 48.46” south
Longitude: 127o 58’ 18.23” east

The rig is now being jacked up in preparation for drilling.
A further announcement to ASX will be made when the well has spudded.


Potential for a breakout either way (due to the US influence) in the next few days....

[surfingman]

A few posts ago I stated Drillsearch is operator of Marina 1, mistakingly got the info from a third party site, after further researching I found that:

ExxonMobil is the operator of Marina 1 as per the initial terms of the farm in.

Finished on day's high .17

Heres a map of what has been going on around the Marina 1 well.

Just keep posting to myself for at least another day or two till theres some action...

[surfingman]

Marina 1 – High Impact Well Spuds

Drillsearch Energy Limited (Drillsearch) in joint venture with Esso Ventures Pty Limited, an ExxonMobil affiliate announces that the Marina 1 well was spudded at 2115 hours 18th September.

Marina 1 is being drilled by the jack up rig, “Wilcraft”:
Location:
Latitude: 13o 47’ 48.46” south;
Longitude: 127o 58’ 18.23” east; approximately 345 kms south/south/west of Darwin, NT, in the Bonaparte Gulf, WA.

Planned Total Depth: 2350 metres (measured depth below rotary table -MDRT).
Drilling Time: Estimated 23 days from spud.

Drillsearch will announce Marina 1 progress reports to the ASX each Monday.

Drillsearch will where possible issue such reports before 10 a.m. EST after consultation with its joint venture partner.

Material announcements will be made immediately they are available.

[surfingman]

The Cooper oil basing project which is ongoing with Santos and Beach.
Taken from Good Conference Presentation.

- Highly successful oil drilling in Cooper Basin in 06/07 has moved Drillsearch to $15 mpa from sustainable oil production.

- At 2.5mmbbl (2P)oil in Cooper DLS has potential to move into the top 5 companies by reserves in the Basin. Reserve Life Index > 15 years

Tintaburra – DLS 10%
• 114 wells drilled since February 2006
• 90 successful oil wells or injectors
• 52 now in production
• Wells drilled since Mulberry 1 discovery (December 2004) contribute 75% of total block production
• Drilling around 26 wells in 2008

Naccowlah – DLS 2%
• 16 wells drilled since March 2007
• 10 cased and suspended oil wells
• 3 now in production
• Results at Jackson added 4 wells to programme
• At least 11 wells for remainder of 2007

[surfingman]

The DLS wells in Cooper Basin are having a great strike rate with more this week for future production see attached announcement dated 27/09:

DLS is now Forming a strong support at .15 with 2 weeks to go until Marina 1 is finished.

I brought in averaging my price after share issue to .164 per share.

Just throwing some thoughts around:

Exxon Mobil the worlds largest publicly traded company in the world and is operator

If there were a large find would they just takeover Drillsearch?
Could be Possible?

If not the field could be developed to production, with the 2nd well due early 2008 could be developed from what Ive seen from other companies by 2009.

After the current offer around 500 mil shares will be on offer which is a little higher than I usually like but there is potential for large gains if the Marina 1 delivers.

As so many state this is High Risk and possibly High Rewards.

[surfingman]

Technically are there any thoughts? If it breaks and holds over .21 the sky's are blue :cool: in the short term i am confident it will due to 3 points:

1 bullish Aussie Market
2 solid oil price and high demand for quality large gas finds
3 exxon factor
and its currently at .20 (thats 4 points)

fundamentally looks reasonable for a speccy has plenty of drilling going on.

Look forward to seeing how it performs with tipping comp, I am on my own with this one by the looks of it...

[surfingman]

A solid amount of Buyers and Sellers lined up before open today, firstly the Financial Report came then a trading halt to prepare an announcement on the marina 1 drilling update.

I am hoping its either the release of the standard we are this deep and continuing drilling or they have had oil shows, Marina 1 well is still about 1.5 weeks until completion. Trading Halt should be due to the preparation time invested in the financial report leaving little time for the drilling update, by opening Tuesday morning we will know.

[surfingman]

Announcement out: Encounter Hydrocarbons

Would anyone be kind enough to give their thoughts on this announcement?

[surfingman]

Ouch thats got to be the bottom of the tipping comp.

This is a wildcat so its to test the field, I must admit i got caught off guard with the well finishing so far ahead of schedule, I look forward to seeing the results from forward operations I have a feeling from this announcement that is not what it seems. Ive emailed DLS asking to expand on the announcement.

This statement got my attention:
Gas shows were recorded in the mud logs over at least 5
zones in lower stratigraphic intervals including the third
objective - the Treachery and Kuriyippi Formations. Trace oil
fluorescence was noted in the cuttings in some intervals.

But then they go onto say:
Conduct formation evaluation programme which will include
wireline logging, pressure and fluid samples, side wall cores,
and a checkshot (velocity) survey.

Plug and abandon well as planned.

Drillsearch will evaluate the well results as logging operations
proceed and the other formation evaluation programmes have
been completed.

With the Blacktip field so close, I am looking forward to a reply email in next few days or a follow phone call will have to be made on friday.

[Col Lector]

Seems to have found support at .14...The market reaction due largely to the no shows in the top 2 objectives & the ambiguous announcement... The title to "Marina-1 encounters hydrocarbons" is undeniably positive but doubt creeps in once the detail is read.

However, I take heart in....

Gas shows were recorded in the mud logs over at least 5
zones in lower stratigraphic intervals including the third
objective - the Treachery and Kuriyippi Formations. Trace oil
fluorescence was noted in the cuttings in some intervals.
My take is that they are chuffed to have hit hydroc's in, as you point out Surfingman, a wildcat well. Could be more significant than the conservative/downbeat tone of the report suggests. & Plenty more land to play with around this well.,
Holding with interest..

[Trader Paul]

Hi folks,

DLS ... time cycles due on:

05102007 ... positive spotlight on DLS ..... :)

22102007 ... negative cycle here ... finance-related ???

02-05112007 ... 2 difficult cycles expected.

19112007 ... 2 positive cycles ... finance-related???

122007 ... 4 negative and difficult cycles expected in December 2007.

happy days

paul



:)

Hi folks,

DLS ... market has punished DLS, after Marina P&A ... so, looking to take a
new position in this one, ahead of a significant and positive time cycle,
due on Friday 05102007 ... may be a quick trade here, as market is
caught by a surprise announcement ... only negative side to the
timing of this cycle will be those wanting to unload their holdings,
into any rally, after the demise of Marina.

These DLS guys put a positive spin on everything ... see headline for
last P&A announcement on Marina, so it will be interesting to see what
they come up with next ... !~!

have a great day

paul

:)

=====

[Ken]

In my quest to find an undervalued Oil company, I came across Drillsearch.

Story at present

They have their 15 year oil production to fund their exploration.

They have quality joint venture partners. Santos and Exon.

Worth doing your own research. There are no fancy broker reports, but they have an audio presentation on www.brr.com.au, just search for DLS.

Mariner discovery could be company making, similar to a cooper energy play possibly.

Any views on DLS?

I think they are good value trading on a low PE.

[surfingman]

In my quest to find an undervalued Oil company, I came across Drillsearch.

Story at present

They have their 15 year oil production to fund their exploration.

They have quality joint venture partners. Santos and Exon.

Worth doing your own research. There are no fancy broker reports, but they have an audio presentation on www.brr.com.au, just search for DLS.

Mariner discovery could be company making, similar to a cooper energy play possibly.

Any views on DLS?

I think they are good value trading on a low PE.

I'm out now but will look to get back in a few months, the next marina well won't be drilled for till at least December from memory.

The cooper play looks great, but Marina has potential which will send skywards upon a discovery..

DLS has been getting a hammering lately .115 may be a new support....

[wipz]

I red something interesting in todays Financial Review (17/10/07).
It stated that a director in DLS, Daryl Dixon, accumulated 6.5Mil DLS shares over the past week for $640k. Possibly some inside play going on?
Any thoughts?

[surfingman]

At that price it must of had something to do with their recent share purchase plan, might of got a extra entitlement or something due to being a director.

[imaginator]

Whats happened to DLS?


Seems down and down. Any news lately?

But chart wise, it looks like a good price to buy in....

[tekram]

:2twocents:banghead:


Got my bogey board in tow and loading up at dirt cheap prices. When the wave comes it will carry me along too.

cheers

[surfingman]

Breakdown of DLS:

Debt: $16.5 Million to Meridian
Current placement of new shares up to 558,068,040 @ .04 to raise $22mil repayment of Debt.
That will dilute to 1,116,136,080

Expenditure of $5mil per quarter

Management will have to consider a reverse split in the future, wouldn't they?.

DLS has the JV with Exxon which could produce some good results, still acquiring seismic 2D.

I will wait until some drill dates with Exxon are in place before buying back in.

Good Luck Tekram

[tekram]

:rolleyes:

Riding the waves with you man all the way. Tell me something I don't already know thou. Everything you posted is general knowledge, Exxon brings a lot of expertise to the table. Need to trust your instincts on this one.

Could dip below .04c after placement with extra shares floating around if nothing positive to stimulate the market, however you look at it this share is cheap at present levels.


keep waxen the board, the wave is coming

[surfingman]

:rolleyes:

Riding the waves with you man all the way. Tell me something I don't already know thou. Everything you posted is general knowledge, Exxon brings a lot of expertise to the table. Need to trust your instincts on this one.

Could dip below .04c after placement with extra shares floating around if nothing positive to stimulate the market, however you look at it this share is cheap at present levels.


keep waxen the board, the wave is coming
You say my info is public knowledge are you saying you know something everyone else doesn't? If so share the wealth of knowledge you hold...

My instincts tell me too stay away from this one for a while yet due to the debt, dilution and lack of return on their projects.

Only trying to help.... But sounds like you know everything anyone could ever want to so good luck...

[Joe Blow]

:rolleyes:

Riding the waves with you man all the way. Tell me something I don't already know thou. Everything you posted is general knowledge, Exxon brings a lot of expertise to the table. Need to trust your instincts on this one.

Could dip below .04c after placement with extra shares floating around if nothing positive to stimulate the market, however you look at it this share is cheap at present levels.


keep waxen the board, the wave is coming

Tekram - Before criticising the contributions of others it would be nice to see something meaningful contributed by yourself.... besides a ramp that is.

Since it is your view that DLS is 'cheap' at current levels, perhaps you can offer up some analysis to support your position.

[tekram]

:o

Guys,

It was not my intention to criticis just pointing out that the wonderful post by surfingman is already in the public domain. No offence intended.

I do believe this company will go places the 22mil probably be used for some debt reduction,acquisition and working capital. All is not entirely clear at the moment.

The rights issue shortfall is going to brokering houses to take up the slack.
So they need the cash for something important.

Company announces that it is selling all non core assets to "Concentrate on priority projects" this is a penny dreadfull does that not strike you as odd.

Also the chairman bought 3 million shares between monday 21st and wednesday 23rd before the cut off to get on the company register before the 31st Jan to get the rights entitelement.

I am just dissecting and looking at the information from different angles.

I do believe this is worth putting on a watch list at least for the time being.

Probably get a better picture as to how many directors take up the rights issue.

cheers
Tekram

Keep waxen the board the wave is coming

[tekram]

:cool:

Got my offer documents will be taking up my full entitlement 1 for 1 anybody else in? She's in the mail on monday.



cheers

The wave is coming

[tekram]

:sly:


So Dixon takes his full entitlement 30 million shares at .4c happy to give them $1.2 million bucks, out of small change it seems, for a company that's going nowhere?


cheers

The wave is coming

[Trader Paul]

:)

Hi folks,

DLS ..... trading halt ... expecting some more news/moves for DLS
next week, particularly around 23-24042008 ..... :)

have a great day

paul

:)

=====

[tekram]

:banghead:

Trader Paul,

I posted three times in february got no response. Even got a caution from Joe Blow, Why bother keep it all for yourself know one seems interested.

cheers

The wave is getting closer

[Trader Paul]

Hi folks,

DLS ..... trading halt ... expecting some more news/moves for DLS
next week, particularly around 23-24042008 ..... :)

have a great day

paul


=====

:)

Hi folks,

DLS/GOG ..... and the news does not get much bigger ... a merger ..... :)

have a great day

paul

:)

=====

[dutchie]

I hope there was not any trading of shares by directors of DLS and GOG yesterday (and leading up to the merger) ;)

[Trader Paul]

:)

Hi folks,

DLS ..... have not heard much about this merger with GOG.

Figuring on some positive cycles bringing some news,
over the next couple of weeks:

30052008 ..... minor and positive cycle

02-03062008 ..... 3 significant time cycles to focus positive
spotlight on DLS ..... :)

have a great day

paul

:)

=====

[Trader Paul]

:)

Hi folks,

DLS ..... ticking up, already ..... bring it on ... !~!

have a great weekend

paul

:)

=====

[Trader Paul]

Hi folks,

DLS ..... have not heard much about this merger with GOG.

Figuring on some positive cycles bringing some news,
over the next couple of weeks:

30052008 ..... minor and positive cycle

02-03062008 ..... 3 significant time cycles to focus positive
spotlight on DLS ..... :)

have a great day

paul

=====

:)

Hi folks,

DLS ... as expected, a nice move today, ahead of some positive
time cycles, due early next week ..... :)

have a great day

paul

:)

=====

[Trader Paul]

:)

Hi folks,

DLS ... took some profits on Friday, as until the merger is
sorted out with GOG, there may be some uncertainty ... ???

..... some DLS cycles, ahead:

27-30062008 ... minor

03072008 ... minor

17072008 ... minor

21072008 ... negative cycle here

22072008 ... minor and positive

01082008 ... minor and positive

04082008 ... positive light on DLS

15-18082008 ... 2 cycles + negative news ???

2708-04092008 ... negative spotlight on DLS,
this could be a very nasty low ???

08-09092008 ... 3 significant cycles to bring
positive news ... ???

have a great weekend

paul

:)

=====

[Pingu]

Does anyone have any thoughts on where DLS is heading? I had GOG and so got DLS in the merger, but since then all they have done is head slowly south. They seem like a good small-mid cap oil company to me. In fiscal 08 they had $22.9 mill in sales of oil sales, they expect their volume to increase in 09, they have retired all debt and have $12 mill in cash and have positive cash flow which they expect to fund all development in the foreseeable future. To me, the current share price doesn't seem to reflect the underlying fundamentals of the company.

[george46]

this looks good any one uot there know anything
big things in the wind im to late to spot ity or what
looks good time to bay

[oldblue]

this looks good any one uot there know anything
big things in the wind im to late to spot ity or what
looks good time to bay

Do you mean "anything" apart from the takeover offer from BPT?

That's enough to give it the recent boost, surely?

:cool:

[pointr]

Any thoughts out there amongst the knowledgeable in ASF land as to why DLS jumped +30% on high volume on friday. Is there another suitor or is BPT able to act like this???:

[Annwn]

have been a couple of announcments,

6 August 2009
Drilling about to commence in PEL 91 - SA Cooper Basin
Drillsearch Energy Limited is pleased to announce that the much anticipated two well drilling campaign in PEL
91 of the South Australian Cooper Basin is about to commence. The Ensign Rig 30 is currently moving to the
Chiton-1 location where the well is expected to spud late this Saturday, 8 August 2009. Chiton-1 is the first of
two back-to-back wells to be drilled by Drillsearch and Beach Petroleum in the ‘oil fairway’ on the western
flank of the Cooper Basin. The second well will be Marino-1 (See attached map on following page).
As previously announced, the two well drilling program will target mean recoverable un-risked oil reserves
totalling 3.5 million barrels with P10 upside potential totalling 7.8 million barrels. The primary objective for
both wells is the Namur Sandstone that has proved to be a prolific oil producer at the Christies and
Callawonga oilfields along the same trend in PEL 92 immediately to the south. Recent discoveries at
Parsons-1, Perlubie-1, Perlubie South-1 and Butlers-1 have expanded this trend further to the south and
west. The ‘oil fairway’ is also prognosed to extend to the north to the Wirraway and Growler discoveries in
PEL104, where oil is being produced from the Birkhead Formation, which is a secondary objective in both
wells.
The drilling of these two prospects represents the culmination of several years’ cooperative effort by the
Beach and Drillsearch exploration teams. The Company is cautiously optimistic about the Chiton-1 and
Marino-1 prospects. Because of the significance of these wells to Drillsearch and its shareholders, the Chief
Operating Officer, Chris Carty, will be at the wellsite to monitor the drilling activity and operations and be
available to make any operational decisions that may occur during drilling.
Mr. Brad Lingo, Managing Director of Drillsearch, said “we are extremely pleased to see this drilling program
get underway. It shows that despite the time and effort that both the Drillsearch and Beach management
teams have had to dedicate to dealing with the takeover bid, both companies at the end of the day have the
main game in mind – getting out in the field and exploring for oil. That’s what the shareholder expect from us.”
Mr Carty added “Drillsearch is clearly focussed on getting back to business. Moving ahead with the drilling
program is also a clear demonstration that we continue to maintain a good working relationship with Beach
which we intend to continue to build on going forward. Beside the drilling programme in PEL 91, we have
some big plans we want to get underway with Beach to develop our gas-condensate discoveries in the same
area in PEL 106.”
Interests in PEL 91 and the Chition-1 and Marino-1 wells are Drillsearch 60% and Beach 40%.

[gagaga]

any thoughts on this stock? this stock is certainly undervalued, and some good news are coming out on their projects......a company with 0 debt, good cash flow and newly appointed directors that boost exploration activities and financing mean...certainly has more potentials...5c looks very yummy right now:p::p::p:

[prozac]

They may have no debt gagaga, but they have no money either. The recent share issue looks like it will be a flop, their biggest single shareholder Beach is selling down like there is no tomorrow, 2 of the directors.....well Beach are selling down.

The company has become so litigious since the new board structure occurred in June, they will have some legal fees coming up that will need to be paid. There goes any money raised from the share issue. The cash flow you mention does not match the monthly burn.

I do not see Drillsearch as good bet at present.

I no longer own any Drillsearch shares.

[oldblue]

Beach have a tendency to "trade" their assets - eg two 10% chunks of the BMG field; their Tipton West CSG interest. They recently mentioned the profits made on the failed takeover bid for DLS - quite how they work this out is a bit obscure seeing as they issued BPT shares, not cash - but never mind.

It wouldn't surprise me to see them continue to sell down their remaining DLS interest - about 10% - with a view to having another go at them sometime down the track.

Disc: Hold a few BPT but no DLS.

[prozac]

I notice on another forum posters saying DLS says it has a good relationship with BPT. This would be why Beach have now knocked back 3 times approaches by DLS for a JV partner. They want DLS at arms-length.:rolleyes:

[riverred]

Beach have a tendency to "trade" their assets - eg two 10% chunks of the BMG field; their Tipton West CSG interest... It wouldn't surprise me to see them continue to sell down their remaining DLS interest - about 10% - with a view to having another go at them sometime down the track.

Yes, BPT has an interesting tendency, hasn't it? But we should acknowledge that it did very well from the BMG and TW disposals.

If BPT does attempt another takeover on DLS, then I wonder if the additional DLS shares in circulation would influence the offer price. One would think BPT is interested only in their Cooper basin resource/reserves and possibly the relevant tangible assets. All else is superfluous.

[Putty7]

Not holding any of these but noticed they are having a bit of a run again on the back of 2 good announcements....


12 November 2009

Tintaburra Block Drilling Success / Ipundu North-13 next development
well in program

Drillsearch Energy Ltd (ASX: DLS) is pleased to announce that the Ipundu-16 development well has been successfully drilled and will be cased and suspended as a future oil producer.

The company is also pleased to announce that following completion of the Ipundu-16 well it will also participate in the Ipundu North-13 development well as the second well in the Tintaburra Block oil development drilling campaign.

The Tintaburra Block is a joint venture of Santos Ltd (89%) and DLS (11%) and is the company's largest production joint venture.


18 November 2009

Chiton Oil Field Development Update – Chiton-1 tests at over 2400 BOPD
production rate

Drillsearch Energy Ltd (ASX: DLS) is pleased to provide this update on the development of the Chiton Oil Field. The company was advised by Beach Petroleum as operator early yesterday evening that it completed a flow test on the Chiton-1 oil discovery well.

The test was conducted following perforation across a 5.5 metre interval from 1409.6 to 1415.1 metres measured depth. The test was conducted for 1.3 hours and averaged an estimated flow rate over that period of 2,434 barrels of oil per day and day & 226 barrels of water per day.

Chiton-1 is the first Namur Sandstone oil discovery within PEL-91. The Namur Sandstone has proved to be a prolific oil producer along the same trend immediately to the south in PEL 92.

An initial estimate of the potential resource based on this data, indicates recoverable oil reserves in the field in the range 0.04 to 0.39 million barrels (P90 to P10) with a P50 reserve of 0.12 million barrels.

After completion of the initial drilling operations, Chiton-1 was completed as a future production well and the further information acquired from the production test will enable Beach to refine the resource estimate for the Chiton Oil Field.

Working Interests in the Chiton-1 well and the Marino-1 well are: Drillsearch Energy Limited 60% and Beach Petroleum Limited 40%

Traded today between .063c and .083c on a volume of roughly 106 million and finished 27% up on .083c (+.018c). Not a bad day, just thought it was interesting no one has commented on these.

[Boognish]

Annouced today:


3 March 2010
SUBSTANTIAL UPGRADE TO WESTERN COOPER UNCONVENTIONAL
GAS PROJECT PROSPECTIVE RESOURCE POTENTIAL
• Drillsearch recently engaged independent technical experts to assess the
Prospective Resource* Potential of the Western Cooper Unconventional Gas
Project
• The finding of this independent review materially increases the Gross Deep
Coal Seam Prospective Resource potential to 9.9 to 19.9 TCF – an increase of
over 360% from previous estimates
• The review is based on extensive data from over 450 conventional oil & gas
well logs
• The Western Cooper Unconventional Gas Project is located close to extensive,
existing gas pipeline infrastructure capable of accessing most of Eastern
Australia’s major gas markets
• These Unconventional Gas Resources can be appraised & developed as part of
company’s conventional Western Cooper Wet Gas Project
• Successful evaluation of these Unconventional Gas Prospective Resources
presents a material growth and economic opportunity for the company

* Defined at the end of this ASX release
Drillsearch Energy Ltd (ASX: DLS) is pleased to announce a significant increase in the Prospective Resource Potential of the Western Cooper Unconventional Gas Project.

Significant Increase in Resource Potential – 360% over previous estimate

The unconventional gas Prospective Resource potential of deep coal seams in the Western Cooper

Unconventional Gas Project Area has increased by approximately 360%.

This seems to me to be saying, we may have a lot more product to sell if we can work out how to get it to the surface.

More from the same announcement:


Drillsearch has just completed the second phase of an independent technical review with MBA Petroleum Consultants Pty Ltd (MBA) of the Prospective unconventional gas resource potential of deep coal seams in the Permian and Triassic formations of the Western Cooper Basin. This independent technical review is an extension of the earlier work completed by MBA prior to the award of PELA 513. It should be noted that Prospective Resources are as yet undiscovered and, as such, carry significant risk. Gas content, gas composition (gas may not only be methane) and certain coal parameters are poorly known and require specialist coal seam gas (CSG) sampling and testing, which will be addressed by near future drilling.

On 27 November 2009, Drillsearch previously announced the results of the independent review of the deep coal seam gas potential of the project area. The previous announcement indicated that the
unconventional gas Prospective Resource potential was between 2.7 to 5.4 TCF based on a gas-inplace of 10.9 TCF.

“Drillsearch is very encouraged by the results of the independent review for the overall unconventional resource prospectivity of the our permit areas in the Western Cooper,” Drillsearch Managing Director, Brad Lingo said.

“Our own exploration drilling in this area has shown that there are multiple, thick coal seams and the well logs has indicated significant gas contents. Previously this has been considered a drilling problem rather than an opportunity worth exploring further.”

“The independent review confirmed that these coal seams are extensively distributed throughout our acreage from a detailed analysis of 450 wells in the area and our extensive seismic coverage – both 2D and 3D – of the area.

Watch this space, I guess.

[Kevin Smith]

Now BPT are out of the way(in a sense) and some of the floodwaters have abated, production can go on.
I'd rather own DLS @ o.05 than BPT @ 0.75(or even 0.30).......those with patience (I stress endless?) will be happy they hung around.
Let's see where the earlier knockers are then.
Be Good!

[prawn_86]

Now BPT are out of the way(in a sense) and some of the floodwaters have abated, production can go on.
I'd rather own DLS @ o.05 than BPT @ 0.75(or even 0.30).......those with patience (I stress endless?) will be happy they hung around.
Let's see where the earlier knockers are then.
Be Good!

Welcome Kevin,

I know it is your 1st post, but please explain why you feel this is the case? ASF is for analysis and explanations, so the more details the better :)

Thanks

[Boognish]

I bought this stock at the absolute height :banghead: and then took up the 12.5c float that came out on top of that :banghead: so I hope our new mate is right.

[prozac]

Welcome Kevin,

I know it is your 1st post, but please explain why you feel this is the case? ASF is for analysis and explanations, so the more details the better :)

Thanks

Prawn, I think Kevin is another Drillsearch tragic.:banghead: Not knocking you Kevin just that DLS are long on promises and short on action. The current board are self-serving. Don't expect anything great out of this company. Just being a realist. I did own a number of these and woke up one day to what was going on.

Good luck but I reckon you are better off out of them.

[pacestick]

DLS is in the process of absorbing INP although described as a merger it is in reality a takeover with 2.5 shares in dls being swapped for each share in INP. This gives the reformed company a increased number of prospective leases and prodycing fields but also increases the amount of shaews available. It values the INP shares at 16 cents a share . Market reaction was that INP rose strongly to 13 cents and DLS fell slightly:2twocents

[prozac]

Looking-in on this thread it's been almost 2 years since my first post and warnings about the company's self-serving BoD. Not much has changed and that includes the woeful share price which is pretty much bang-on what it was when I sounded my first warning.

Since I ditched DLS I have turned a handsome profit in companies with real prospects, those not requiring constant capital raisings to continue to fund the cash burn.

I can only say to anyone thinking of investing in this company to do your research carefully. I wouldn't go near it again. :shake:

[Greedy_Kev]

I agreed this company is crap however, i think this company will do very well due to the QLD flood, since it knocks out alot of their competitors providing oil and gas in QLD such as santos.

This may have already been reflected in the current price, since the price suddenly spiked from 0.059 to 0.073 with no release of additional information.

However now that VIC is also flooding, maybe there is more to come, but i still not sure which part of VIC is effected and if oil producers such as VIC petroleum is effected.

[prozac]

There are many little oilers and species on asx you should look at before you invest in DLS. I could not recommend this company to anyone. My comments are not sour-grapes, a desire to bring down the board or to down-ramp the company.

Better put your money on the doggies imo.

[Miner]

Quiet market today to start and a quieter announcement 3 mins before market opening.
The 2 P reseve rose by 887% - no misprint. See attached.
Market normally reacts aggressively but the reaction was hardly noticable.
Interesting behaviour on DLS - all good news for last few weeks - no tangible visibility in the SP movement

[Julz86]

Very new to this forum first time poster and hoping to begin investing soon. :)

SP has dropped from 59c to 50c following an announcement of a share issue. Feeling very tempted to start buying at either 48 or 49? Future projects does seem promising although i don't particularly like the idea of such a huge share issue (50 million shares?) Seems like this is gonna result in a major dillution? Results from the past 6 months does not seem good too with a drop in SP since early 2011.

But it does seem pretty cheap now.

Any thoughts on this one?

[sreeve]

Drillsearch chart looking good. Major resistance line broken in January (line goes back a few years). This support line, at about 93 cents needs to hold.

Cheers
Scott

http://scottreeve.com/wp/wp-content/uploads/2012/01/dls_weekly_scottreeve.com_30.01.2012.png

[mr. jeff]

sreeve nice chart, so far so good with the move and close above $1.

Exciting times, looks like they may be having a bit of takeover interest judging from the strong upwards move when viewed in comparison to SXY, BRU recently. Very solid support so far.

[mr. jeff]

46014

I had a great exit at what I thought was the climax, but it has kept on going! When will it end?! At least I got out without watching my profits get away!

I just can't see this move continuing in this way. Surely the tide will turn.

[prawn_86]

Nice trade Jeff. Good to see some quality stock analysis also :)