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EMR - Emerald Resources

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Re: EMR - Emerald Oil and Gas

very encouraging drill update out of palito blanco this morning

1000feet to go so thats only a few days away

24 feet of hydrocarbons recorded in the logs so far
 
Re: EMR - Emerald Oil and Gas

copy of my post on HC for those that are not that way inclined.I am inquiring re the disparity in the AFR report today of 80 BCF potential vs 250 BCF in email.

Doc...any thoughts?


Steve:You are correct for Palito Blanco,probably 4-6 cents/share after royalties etc,using a “value in the ground” of $US 2.50/mcf gas & A$ 50/bbl condensate.We would need 4 wells probably to get the 10 bcf gas.It is looking quite positive at the moment.

If we discovered 250 BCF Gas at Stokes Bay it would be worth approx. 40 cents/share to Emerald using a “value in the ground” of A$ 1.00/mcf gas.There will also be condensate at Stokes Bay but it is hard to gauge how much until tested.It certainly would make “Eve Rose” look very good and “Yes” we would definitely farm out to ARC or someone else given we got good farmout terms.A free carry through a couple of wells (or more),would be nice!

Cheers,

Bob Berven
 
Re: EMR - Emerald Oil and Gas

debono said:
copy of my post on HC for those that are not that way inclined.I am inquiring re the disparity in the AFR report today of 80 BCF potential vs 250 BCF in email.

Doc...any thoughts?
Click to expand...
I'm guessing it relates to different confidence levels, though I read then that p10 for stokes was 158bcf (see the Arc thread - pulled that number straight out of an announcement)

80bcf might be p50...
 
Re: EMR - Emerald Oil and Gas

This might provide some illustration of the potential sizes of the trap at stokes. Not sure about the specific numbers you provided though.
 

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Re: EMR - Emerald Oil and Gas




Hi folks,

EMR ..... trading halt comes in, right on TIME ...

have a great day

paul



=====
 
Re: EMR - Emerald Oil and Gas

Goodonya Paul,

Ann.

PALITO BLANCO GAS DISCOVERY

Emerald Oil & Gas NL (“Emerald”) is pleased to provide an update on drilling at
the Jaime Garcia gas unit #2 well at the Palito Blanco prospect located in Duval
and Jim Wells Counties, Texas USA. A gas discovery has been confirmed within
multiple sands of the Yegua formation between 7,300 and 8,100 feet.
 
Re: EMR - Emerald Oil and Gas

From ARQ announcement this morning.

Valentine 1 was a dual objective well which was sited to test the maximum
possible extent of the shallow Point Torment gas accumulation and to also test a
deep basin floor fan stratigraphic play in the Virgin Hills Formation.
The shallow objectives were encountered just about where we thought they should
be and had excellent gas shows. The Valentine shows indicate that we could be
right at the edge of the accumulation. The Stokes Bay sidetrack well will target
these sands about 90 metres up-dip from where we saw the shows in the Valentine
well. We also saw some strong indications of oil in Valentine at the same level
and oil was recovered from Point Torment during testing, so getting that far up-dip
in Stokes Bay should tell us exactly what we have.
We have also recommended to the joint venture that we deepen the Stokes Bay
well to the Nullara level, which is the carbonate reef level that produces oil at
Blina. This level had strong shows in Point Torment that were never tested
properly so we believe it is worth deepening the well a couple of hundred meters
to test them in this location.
 
Re: EMR - Emerald Oil and Gas

Morning all,

Well this is certainly going to go one or the other shortly
ARQ seems to be getting some love lately.
 

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Re: EMR - Emerald Oil and Gas

Appears to be sold off after the announcement. Not sure what to make of it.
Some gas shows of 25 and 15 meters (including some oil?) and then they hit a bottomless pit?
 
Re: EMR - Emerald Oil and Gas

hi, this is my first post

anyone know why ego and emr got hit while arq went up?
i'm no mining whiz but the announcement didn't seem THAT bad did it?

what did you guys make of the announcement?

cheers
 
Re: EMR - Emerald Oil and Gas

Can't quite figure that out either why sp was dumped, my interpretation is they found gas shows where they were expecting them, and some fluids down low, won't know what type of fluid until logs are done, but could potentialy be oil. Guess we will have to wait till monday to find out. Guess some people got spooked out today because the anouncement didn't sound positive enough with words like 'Gushing oil'.
 
Re: EMR - Emerald Oil and Gas

ARQ is probably up due to Morgan's price target of $1.90 and Adelphi's rise... Minor shows not worth announcing when intersected 3 days ago. They're sure if they're going to test them.. need more resolution.. Waited until they had already moved beyond TD and into additional play before announcing... etc. Not especially good signs.
 
Re: EMR - Emerald Oil and Gas

Then what has driven FAR? There's nothing new on Senegal and SB is the only thing active for them at the moment.

The language was much more reserved than what was attributed to these levels in the Valentine drill, but then hydrocarbons were expected at these levels in this hole, they weren't in Valentine. They've noticed hydrocarbons, they've announced it. They don't yet know the extent until they do logging/DST.

I read the announcement as positive, but reserved/conservative. Why do a DST if you don't have reasonable grounds for believing you may have a commercial find?
 
Re: EMR - Emerald Oil and Gas



The announcement said possible DST in the nullara formation they hadn't even started to intersect. Not that there was a DST happening in Anderson. At least in my reading of the ARQ ann.
 
Re: EMR - Emerald Oil and Gas

gases found at palito blanco

Completion activities have commenced at the
Jamie Garcia Gas Unit #2 well by the operator
OSO Exploration. The Yegua 19, 20 and 21
sands have been perforated and flow tested
separately. The Y-19 (7,827-7,830 feet) has
flowed gas at an estimated rate of 500 mcfd
with some accompanying condensate. The Y-20
(7,948-7,952 feet) flowed gas at an estimated
rate of 300 mcfd

does anyone know what this means to the sp?
 
Re: EMR - Emerald Oil and Gas

Well I got well and trully sucked into the Canning BASIN story and the "huge elephant" just waiting to be discovered!!!!


Now April is the earliest till the final nail is put in the coffin (wet session)

I wanted to ask if anyone think their other assets in the US are any chop and has the downside from Valenitine finally over....

Benwex
 
Re: EMR - Emerald Oil and Gas


with the current SP, EMR has a market cap of less than $10m. I think it was mentioned somewhere that it's US assets are worth around 10c. I guess the valentine prospect is only 2c at the moment...
 
Re: EMR - Emerald Oil and Gas




..... trading to the script, so far ... so looking for a bounce off
the lows on 07122007, as the next positive news is expected.

happy days

paul



=====
 
Re: EMR - Emerald Oil and Gas

I think we have hit the old resistance, which is around the 11.5-12c mark. We'll see the SP bounce around this range till some good news come out. IMO, I'll be very surprised to see this one go below 11c.
 
Re: EMR - Emerald Oil and Gas


Hey Ben,

Its early days yet mate and the US gas probably underpins EMR at these levels.
Looking at a chart you can see the return to 19c didn't bode well.
Info' from Stokes/Valentine is all beneficial but obviously those of us that held through the swings could have done a lot better.
Eve Rose is still there and the Canning is an awful lot bigger than Valentine.

Cheers

J
 
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