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ACN - Acer Energy

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Been holding this stock for quite sometime .. been going backwards for the last couple of months..

Name change and not much news..

where to from here?
Perhaps here

Announcement
10 October 2011
Acer Energy to Acquire Interest in
Cooper Basin Permit PEL 100
Acer Energy Limited (ASX: ACN) is pleased to advise that it has executed a conditional Sale and Purchase Agreement with Sundance Energy Australia Limited (Sundance) (ASX: SEA) to acquire all of Sundance’s 23.33% working interest in Petroleum Exploration Licence 100 (“PEL 100”).
Under the terms of the agreement Acer Energy will acquire Sundance’s entire 23.33% interest in PEL 100 for:
● A$500,000 due on completion of the agreement; plus
● a potential contingent payment of A$500,000 payable in Acer Energy shares upon achievement of certain future production milestones from PEL 100.
PEL 100
PEL 100 is strategically located in the northern margin of the Patchawarra Trough, Cooper Basin South Australia with an area of 297 square kilometres. The permit is immediately east of the Company’s PEL 182 block and directly west of the Telopea and Keleary oil fields which have produced in excess of 2 million barrels.
Acer Energy CEO, Clint Adams, commented “This acquisition strengthens our position in a proven prospective region of the Basin and is strategically well located to our existing interests. PEL 100 is a welcome addition to our portfolio and we look forward to working with our fellow joint venture partners to realise the potential of the permit.”
For further information contact
Clint Adams Simon Cunningham
Chief Executive Officer Chief Financial Officer
Acer Energy Limited Acer Energy Limited
T: (07) 3007 7900 T: (07) 3007 7
 
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Just a bump. Anyone holding or following?

After a 50% rise in the last few months, have taken a nice piece out of it, and since then has come off the boil a little. I am trying to find some news on whats going on with ACN at the moment.
 
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from pro active investors

cer Energy eyes increased resource and cash flow from new target zone in existing oil field
Thursday, June 07, 2012 by Bevis Yeo Acer Energy (ASX: ACN) has identified multiple additional potential pay zones at its Flax oil field in the Cooper Basin following a successful re-entry of the Flax-1 well.

This resulted in additional production from an unstimulated 4.5 metre mid-Patchawarra pay interval – the accessible portion of a broader 9 metre interval that had not being previously produced.

Acer noted that this interval represented a new productive reservoir that has not been

included in the current independent resource estimate of 15 million barrels of in place oil for the Flax field.

It added the post test oil and gas composition remained largely unchanged, confirming the new reservoir contains hydrocarbons of a consistent ratio to that of the lower productive reservoirs.

Of most interest to the company is the fact the interval appears to be present in other wells and could increase the size of the Flax field resource if confirmed.

Acer noted that more recoverable resource from an already developed and producing oil field represents the lowest cost, lowest risk and highest margin opportunity for shareholders.

Foward plans

To fully test and validate this new resource, Acer plans to fracture simulate and test the entire 9 metre interval in both Flax-1 and the correlating reservoir within other Flax wells.

It will also complete all engineering and design work to test additional Patchawarra zones identified within the Flax wells and use recently acquired 3D seismic data to identify lateral extent and potential new well locations.

Patchawarra

The coal and carbonaceous shale of the Patchawarra Formation represent the principal source rocks of the Cooper Basin.

It has also emerged as a potential unconventional play with the South Australian Department of Primary Industries and Resources and companies such as Beach Energy (ASX: BPT) believing that it hosts a basin centred gas accumulation that could change the East Coast gas market.
 
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Acer Energy makes gains on strong Cooper Basin position
Monday, July 16, 2012 by Bevis Yeo
Acer Energy makes gains on strong Cooper Basin position

Acer Energy’s (ASX: ACN) strong acreage position in the Cooper Basin with large oil discoveries has proven to be a winning strategy.

The company holds 8 exploration permits covering 2853 square kilometres in the Basin, 6 of which it operates, and is planning to drill up to 6 wells from September 2012.

Five of the permits are located on the GMI ridge, which hold the Flax and Juniper oil discoveries, which could hold more than 100 million barrels of in-place oil, the company also has large gas prospects with 180 billion cubic feet of in-place potential.

These permits also have secondary Birkhead targets that may be tested in new Flax development well locations

The company is also exposed to the basin centred gas accumulation in the Basin espoused by Beach Energy (ASX: BPT) through its PEL 100 and PEL 10 permits that contain the Northern Patchawarra Trough.

Flax and Juniper

While historical Flax wells were chosen based on an enhanced oil recovery development plan, 3D seismic has allowed Acer to identify multiple top of Flax structure well locations for potential future development drilling.

This has also resulted in the mapping of the Flax South structure between the Flax and Juniper structures that besides appearing to be about 65% the size of Flax, appears to have thicker Patchawarra Formation sands.

Juniper also appears to have Patchawarra channel sands that show up on 3D seismic as being potential secondary targets.

To top it off, a further 130 million barrel of in-place potential exists should further work confirm that the Flax and Juniper structures be connected.

Basin centred gas accumulation

Acer’s interest in PEL 101 and operating position in PEL 100 gives it a direct exposure to a potentially Basin changing resources.

Beach Energy’s unconventional exploration in the Cooper Basin has reinforced the potential for the Patchawarra Trough to host a basin centred gas accumulation, which has traditionally proved to both more productive and less expensive to develop than shale gas plays.

To that extent, Acer is participating in a 250 square kilometre 3D seismic program that will cover most of PEL 100 later this year.

Future plans

Besides the 3-6 well program that Acer plans to start in mid-September, the company will also carry out fracture stimulation across the Tirrawarra / Basal Patchawarra sands in Flax-2 and recomplete Flax-1 across the full 9 metres of the newly proven mid-Patchawarra pay and frac the interval.

Acer will also install artificial lift on Flax-5 before testing the improved well production capability.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.
 
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ACER ENERGY (ACN)

The company recently posted reports from two different analysts on its Home Page

http://www.acerenergy.com.au/

The reports were from Breakaway Research and Casimir Capital
I have taken the following information from the two reports

Flax field oil originally in place 15mmbbls plus OGIP 34Bcf
a further possible 130mmbls of prospective resource has been estimated from the appraisal of the juniper field and surrounding area
The company is convinced that the present wells are under producing due to the poor method of drilling used and that they can significantly increasee production with modern methods

TIME LINE SHORT TERM

September 1. trial of a new designed fracture stimulation method in an existing well
2. Test the oil and gas composition of shallower reservoirs frac these zones and test flow rates (this could result in resource estimate upgradeas they are not included in current resources )
3. Recomplete and frac a new 9m productive interval in the flax1 well (again this is not included in the current resources estimate)
4. Install a pump in the flax 5 well to test improved well production capability

The September programme is estimated to cost $4-6 mm

1. October Drill 3-6 new exploration and appraisal wells This follows the company acquiring a 3D seismic data report and reprocessing a older 3D report hopefully this will prove the intercnectedness of the flax and juniper field If so the amount of oip increase will be large indeed
The October programme has an estimated capex of $9-18m



MID TERM
Utilising the experience of senior executives in building LNG plant (Arrow) they intend to build a small scale LNG plant as an oppurtunity to commercialise gas and mgls This has an estimated capex of $40-50m funding details are not given
 
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two month drilling program commenced today
Acer Energy targets production upside with Flax oil field workover
Wednesday, September 19, 2012 by Bevis Yeo
Acer Energy targets production upside with Flax oil field workover

Acer Energy (ASX: ACN) is hoping to breathe new life into its Flax oil field in the Cooper Basin by carrying out workovers that seek to further appraise the field and increase production.

The company is using Savanna Energy Services Rig 66 to recomplete a well and carry out hydraulic fracture stimulation and production testing of the previously untested Patchawarra formation pay intervals and a previously fracture stimulated pay interval.

This will determine the effectiveness of the larger modern designed hydraulic fracture stimulations in both the Patchawrra and the previously stimulated pay intervals and test the hydrocarbon composition and productivity of the Patchawarra.

Acer will also install artificial lift in a selected well to test its impact on well productivity.

The results of this workover will be a key factor in the well completion design for the new appraisal and exploration drilling campaign of between three to six wells that is scheduled to start in October 2012.

This is targeted at appraising the potential large southern extension of the Flax field which has been mapped following interpretation of the new 3D seismic.

The Flax oil field had produced 5,013 barrels of oil during the quarter ended 30 June 2012.

It has being independently estimated to hold 15 million barrels of in-place oil and 34 billion cubic feet of in-place gas though this not include the mid-Patchawarra interval.

Acer has a 10% interest in the PRL 14, which hosts the Flax oil field.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.
 
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Acer Energy targets production upside with Flax oil field workover
Wednesday, September 19, 2012 by Bevis Yeo
Acer Energy targets production upside with Flax oil field workover

Acer Energy (ASX: ACN) is hoping to breathe new life into its Flax oil field in the Cooper Basin by carrying out workovers that seek to further appraise the field and increase production.

The company is using Savanna Energy Services Rig 66 to recomplete a well and carry out hydraulic fracture stimulation and production testing of the previously untested Patchawarra formation pay intervals and a previously fracture stimulated pay interval.

This will determine the effectiveness of the larger modern designed hydraulic fracture stimulations in both the Patchawrra and the previously stimulated pay intervals and test the hydrocarbon composition and productivity of the Patchawarra.

Acer will also install artificial lift in a selected well to test its impact on well productivity.

The results of this workover will be a key factor in the well completion design for the new appraisal and exploration drilling campaign of between three to six wells that is scheduled to start in October 2012.

This is targeted at appraising the potential large southern extension of the Flax field which has been mapped following interpretation of the new 3D seismic.

The Flax oil field had produced 5,013 barrels of oil during the quarter ended 30 June 2012.

It has being independently estimated to hold 15 million barrels of in-place oil and 34 billion cubic feet of in-place gas though this not include the mid-Patchawarra interval.

Acer has a 10% interest in the PRL 14, which hosts the Flax oil field.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

They did well from the old well, will this be another outstanding find, well we'll wait and see :eek:
 
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SP continues to rise on this the first of a multi well workover and drilling programme
 
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takeover offer from DLS 0.255cents cash only They are getting it for a song but largest holder already out
 
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The only trade done at the offer price was republics the market is saying up the ante
 
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DLS have issued a statement that they will only recognise holders as at 7pm today .They cant like the idea of the share trading at above their offer price
 
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Senex have been buying at above the DLS offer and now have over 6% of ACN Together with the directors 3% they can just about block DLS probably have 10% between the two of them after todays trading anyway
Next move DLS who are dead in the water meanwhile the well uplift continues and must be getting close to a result

All in all could be a auction under way
 
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Senex have been buying at above the DLS offer and now have over 6% of ACN Together with the directors 3% they can just about block DLS probably have 10% between the two of them after todays trading anyway
Next move DLS who are dead in the water meanwhile the well uplift continues and must be getting close to a result

All in all could be a auction under way
SO what is the end result out of whoever takes over. Is this where it gets absorbed into the parent company, or runs as its own, how will this improve the SP into the future?
 
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SO what is the end result out of whoever takes over. Is this where it gets absorbed into the parent company, or runs as its own, how will this improve the SP into the future?
Only time will tell but we have two companies have grabbed part of ACN at a time when a well drilling program is under way As that makes a little less liquidity positive results from the drilling should push the SP higher. Will DLS make a new offer I dont know Will SXY buy more they seem to be buying themselves a seat at the bargaining table rather than doing that
 

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