Monday, June 30, 2008
Maybe investors are starting to figure this out evidenced by Altai's share price out-performance compared to the other three horsemen over the past few weeks. Forest Oil certainly thinks the land north of the Yamaska fault is prospective and they certainly qualify as a "Major Oil Company" as mentioned by Altai in their new presentation on their website.
Tuesday, June 24, 2008
Saw the short interest on Canadian Quantum is near 100,000 shares which accounts for the nearly 50% hair cut. At the present trading volume, these shorts may have a hard time covering in a few months before the Forest announcement.
Triangle's just announced partner is a private company headed by an individual with plenty of experience in the shale plays. I would have thought a major would want to play with them but I guess they want to see the play develop a bit more.
Got to go.
Wednesday, June 18, 2008
http://www.petroworth.com/drilling_demo/index.html (note - right click to open in a new window)
PetroWorth: Interim Report on Frac Results at E-08 Well in New Brunswick
The first of the two completed fracs at E-08 flowed back 42 cubic metres out of a total of 103 cubic metres of frac fluid prior to initiating burnable gas flow. The interval flowed gas at a rate building to 260 mcf/day at a wellhead pressure of 87 pounds per square inch over a flow period of 76 hours. A sand plug was then placed over the interval in preparation for the next frac interval.
The frac in the next interval flowed back 68 cubic metres out of a total of 216 cubic metres of frac fluid prior to initiating burnable gas flow. The interval flowed gas at a rate building to 976 mcf/day at a wellhead pressure of 474 pounds per square inch over a flow period of 62 hours.
The fracs of the remaining two intervals at E-08 will be conducted within the next few weeks. Once these fracs are completed, PetroWorth plans to provide final flow results on the basis of each individual interval and as a commingled total of the four intervals.
PetroWorth is currently investigating various alternatives to both short and long term marketing of the potential natural gas production from the E-08 well.
PetroWorth Resources Inc. is a junior oil and gas exploration company with extensive onshore properties in Eastern Canada. The Company has acquired 100% working interests in almost one million acres in nine separate exploration permits on Prince Edward Island, Nova Scotia and New Brunswick. The strategy of the company is to conduct aggressive exploration programs on these permits, both internally generated and through advantageous farm-in arrangements.
Monday, June 16, 2008
Thursday, June 12, 2008
http://miningmarketwatch.net/rbv.htm (note: right click the link to open in a new window)
Monday, June 9, 2008
1) Start with a low outstanding share company
2) Stake claims in an area close to a significant gas discovery
3) However, since all of the prospective land was spoken for, bend the truth a bit and announce:
"The land staked is in close proximity to Junex Resources and Intragaz Exploration near Shawinigan city, and Squatex Resources in the Rimouski area in the heart of the Quebec Utica-Barnett-like shale natural gas play."
4) Don't put a map on your website so that no one really knows where your claims are located.
5) Get all the Stockhouse day traders in a frenzy so they bid up your share price well over $2
6) Convince a company to take part in your private placement
7) Announce the completion of the private placement and tone down your claim of where your land really is:
"X-Terra Resources Corp. has received approval from the Quebec Ministry of Natural Resources for permits on approximately 150,000 hectares (1,500 square kilometres) of land prospective for shale gas in the Quebec Lowlands, Utica-Barnett-like shale natural gas play. The staked land is in close proximity to Junex Inc. and Intragaz Exploration near Shawinigan, Que., and Squatex Resources and Gastem in the Rimouski, Que., area. See the location map on the company's website."
8) Leave the map off of your website even though your morning press release announcing the PP states it is there.
I wonder who told them to remove the language "in the heart of the Quebec Utica-Barnett-like shale natural gas play" which they proudly proclaimed in order to raise their share price and then suspiciously leave out once the PP is announced. Company lawyers? The Venture Exchange? or maybe the typist accidentally left it off of the press release?
So there you have it. The path to riches have been laid out for the next Utica Shale wannabe. Are you listening Stelmine?
Thursday, June 5, 2008
At the present time, Canadian Quantum would have to rise 100% from current levels to equal the same value the market is currently giving Junex for their 50% of the Nicollette property. I would argue that CQM will base in the $25 range assuming Junex stays at these levels and is certainly still a buy today.
Of course, I am giving no value to the 3.75% WI in the Gentilly play with Questerre and Talisman or their other WI in other permits with Questerre. The market is not giving them any value either even though this is being touted by Questerre as prime real estate in the fairway.
Sometimes the hardest thing about achieving great wealth is being right and sitting tight. Those holding shares now are being right. The hard part will be sitting tight.
The E-08 discovery well (Feenan #2) was drilled in November 2007 to a total depth of 1605 metres and tested only the Hirambrook sands. While drilling on air, gas was flared at surface at a rate of approximately 650,000 cubic feet per day. An independent petrophysical analysis of the well calculated a combined potential gas pay thickness of 40 metres within five sand zones with an average porosity of 10.1%. Recent perforation and testing of two of the sands zones yielded encouraging results, confirming that the well is an excellent candidate for the frac stimulation.
PetroWorth has acquired an additional 7,000 acres of land in the Rosevale region of New Brunswick, and 88,737 acres in Westmorland County, bringing its total land holding in this region to 129,583 acres. These properties are extremely attractive for two reasons:
1. To the immediate northeast of our lands is the Stony Creek field, which has produced 800,000 barrels of oil and 28 billion cubic feet of natural gas to date;
2. To the immediate southwest of our lands is the McCully field, which is estimated to have one trillion cubic feet of gas in place. It is worth noting that Corridor Resources Inc. recently received approval to construct pipelines and related facilities to connect the McCully field to the Maritimes & Northeast pipeline.
In November 2006, PetroWorth completed an extensive 2-D seismic program on its New Brunswick properties. This will be followed by a sophisticated 3-D seismic program and an aggressive exploration drilling program.
Wednesday, June 4, 2008
Tuesday, June 3, 2008
As expected, the Utica shale plays pulled back today after several days of running up. Look for one more down day tomorrow before a rebound to new highs.
Monday, June 2, 2008
The first closeology land pump happened this afternoon with x-terra resources (XT.V). They claim they applied for claims in the heart of the utica shale play but they couldn't be further from the truth. None of the claims can even smell Utica shale gas. Didn't matter to the herd who buys before they think. This will surely deflate rather quickly but I wouldn't rule out another big run tomorrow.
Good news on the Maritime shale front. Corridor announced today they will accelerate their shale gas play in Elgin New Brunswick, which if successful, will light a fire under the all ready hot Contact Exploration (CEX.V).
Finally on Mundiregina, a fellow research hound has found out that the Mundiregina land was farmed out to Suncor last year by Anne and Jerry McCullough. Too bad as they blew the chance for a million dollar lottery prize.
That's all folks.
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- Working on a report on a Montney shale junior
- A blurb I posted on stockhouse
- Riding the waves at Myrtle Beach.....................
- New to drilling....watch the video
- Petroworth commercial frac next to Contact
- FINALLY !!!!!!!!!!!!!!!!!!!!!!!!
- Anyone game for a potash play?
- How to paint a pig and take in almost $10 million
- A case for a further 100% gain in CQM.H
- X-Terra Resources and the Zero Utica Line
- An update on Altai......some Sulphur tidbit
- Petroworth (adjacent to Contact) announces drillin...
- Contact goes for a $10 million PP
- Another PP for a neighbor of Contact Exploration (...
- Finally........a pull back
- ▼ June (15)