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In (our Pres.) Colin Bowkett's spare time...
http://www.netcosilver.com/index.php?option=com_content&view=article&id=46&Itemid=53
Archer on TSX forum...ongoing thread...
http://www.stockhouse.com/Bullboards/SymbolList.aspx?s=ARK&t=LIST
From the TSX v.ARK (aka: APEUF on OTC) forum...
http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=30471211&l=0&r=0&s=ark&t=LIST
A whole lot of 'Insider' buys & another round of big-buys (378K) so far today on TSX...I'm liken' it ;)
Up 33% on 1M shrs bought on TSX...been a steady slow stream of buying 100K per/day for the last week or so & I think the big buyer has finally got his fill. Not much left on the 'bid' side there...with a little luck & some good news (hopefully) we might be setting-up for a reversal...sure would be a welcome change.
Got an E-mail response from APEUF President [Colin]...
I sent him an e-mail earlier today , inquiring as to the status of Archer & future plans...
here's the reply he was kind enough to provide...we may not have much (@ the moment)
but I'm most greatful for the 'transparency' & mngmts prudent approach to the future...
and in relation to my biggest concern; we're still in-the-game & viable:
----------------------------------------------------------------------------------------------------------
"Hi David –
Not bugging at all!
Several opportunities have been looked at (and several scrapped) – we are very close now but it comes down to the deal that I can negotiate the best terms on in direct relation to how “fundable” it is in this market. We don’t want to bite off more than we can chew but I want to ensure that we have a lot of potential in our next project for shareholders.
Appreciate your patience – as you can imagine I am very keen to get something done but don’t want to rush and make mistakes I later regret…!
Regards/Colin"
Hmmm...'somebody' wants in big...Bid Size 999000 / Ask Size 283000
per TSX at Stockhouse
Hmmm...that's odd...some insider 'bought' 142K yesterday...
w/ zero insider sales since bad news broke...may be something here afterall.
Some serious rebounding now on TSX...
& some interesting post-sellout observations from ChrisAccord on the TSX ARK board...
**All of the 2.5 cent asks have been bought and the 3 cent asks will be bought very soon. After 3 cents the asks thin out considerably. Archer Petroleum has a small float of only 37 million shares outstanding. 3 cents is a bargain and they'll be taken out.
**With today's (Wednesday) massive 60 per cent sell-off of Archer Petroleum shares there were no insiders selling any shares according to today's "Insider Trade Summaries- TSX Venture Exchange" report.
**Recent insider buying open market ...
From Canadian Insider:
Archer Petroleum Corp. (ARK) As of October 11th, 2011
Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction # or value acquired or disposed of Unit Price
Oct 04/11 Oct 04/11 McMorran, Robert George Direct Ownership Common Shares 10 - Acquisition in the public market 52,000
.035
Oct 04/11 Oct 03/11 McMorran, Robert George Direct Ownership Common Shares 10 - Acquisition in the public market 48,000
.035
Oct 04/11 Oct 03/11 McMorran, Robert George Direct Ownership Common Shares 10 - Acquisition in the public market 100,000
.040
Sep 27/11 Sep 27/11 McMorran, Robert George Direct Ownership Common Shares 10 - Acquisition in the public market 60,000
.030
Sep 27/11 Sep 23/11 McMorran, Robert George Direct Ownership Common Shares 10 - Acquisition in the public market 40,000
.030
Jun 06/11 Jun 03/11 McMorran, Robert George Indirect Ownership Options 50 - Grant of options 50,000
Jun 02/11 Oct 25/10 Perrier, Claude Direct Ownership Options 50 - Grant of options 236,000
.200
Jun 02/11 May 30/11 Perrier, Claude Direct Ownership Options 50 - Grant of options 100,000
.120
Jun 02/11 May 25/11 Perrier, Claude Direct Ownership Warrants 16 - Acquisition under a prospectus exemption 375,000
.120
Jun 02/11 Sep 01/10 Perrier, Claude Direct Ownership Warrants 00 - Opening Balance-Initial SEDI Report
*source; http://www.stockhouse.com/tools/?page=%2Ffinancialtools%2Fsn%5Foverview%2Easp%3Fsymbol%3Dv%2EARK%26table%3DLIST
Yeah... that is the way the pennies play!
I am sure I will see you around. I would think about trying to move from here to FECOF if I were you. Next bounce sell and move on...
Eom7...sure wish it would have worked-out different...looking for better times...the best of luck in your future plays.
*sidenote; I'm seeing a small rebound on my trading screen...up to .0246 last count.
Out at .017 UGH! - Good luck.
Damn....
What a 'Bummer'...had great hopes here.
FYI still holding...& only 1.4M bailed on APEUF.
Still some hope maybe[?]...have no idea myself.
2big a hit 2 cash-out on my end...will wait 2 see next chapter.
GL2U Pitbul...& thx 4 playing a constructive role here.
.
Same here.
These guys simply have a bad track record.
At this point they are out of business.
Unfortunately, we can't win them all.
I was extremely pissed when i sold my shares this morning, taking a huge haircut, but a few minutes later, i found myself to be happy... not having a losing stock in my portfolio anymore.
See you around,
Pitbul :)
As I said, if any of you are on Stockhouse, hit me up: Pitbul13
Sold my shares.
rcher Petroleum Fails to Find Producible Hydrocarbons in Its Matagorda Bay 127-1 Well
10:07 EST Wednesday, Oct 12, 2011
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 12, 2011) - Archer Petroleum Corp (TSX VENTURE:ARK)(OTCQX:APEUF)(DBFrankfurt:A6VA) ("Archer" or "the Company") reports that it has been advised by South Bay Resources (the Operator) that they will likely be plugging and abandoning the Matagorda Bay 127-1 well in Calhoun Country, Texas, USA.
Archer participated as to a 22% interest in the recompletion of the 127-1 well, targeting the Bol Mex sand in the Lower Frio, which showed multiple apparent pay zones in logs and core at a depth of approximately 8,700feet. Following perforation of the well bore and the installation of a gravel pack at the targeted zone depth, the formation began producing fluids under high pressure at a rate of approximately 500-600 bpd, though hydrocarbons were not present in the produced fluids. The lack of hydrocarbons will likely lead to the abandonment of the well.
Claude Perrier, CEO, states: "The completion of the Matagorda Bay 127-1 prospect was highly anticipated by Archer shareholders and its failure is disappointing. Management will spend the coming days performing a post mortem to determine the cause of this outcome as well as discussing strategic alternatives for Blocks 150 and 151 in the Matagorda Bay play."
About the Matagorda Bay Prospect
The Matagorda Bay recompletion project comprises approximately 1,600 acres and consists of Texas State Blocks 127, 150 and the North half of Block 151, and includes 3 existing well bores, an existing 7 mile pipeline to shore and an onshore oil/gas handling facility.
About Archer Petroleum:
Archer Petroleum Corp. is an independent oil and gas company focused on exploration and development in North America. Archer's assets include properties in the Western Canadian Sedimentary Basin of Alberta, the Permian Basin of West Texas, and the Bakken Shale of North Dakota. The Company's shares are listed on the TSX Venture Exchange under the symbol "ARK" and the OTCQX under the symbol "APEUF " and the DB Frankfurt exchange under "A6VA". Further information on Archer can be found on the company's website at www.archerpetroleum.com.
ON BEHALF OF ARCHER PETROLEUM CORP.
Colin Bowkett, President
Although Archer believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Archer can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), and commodity price, interest rate and exchange rate fluctuations. The forward-looking statements contained in this document are made as of the date hereof and Archer undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
--------------------------------------------------------------------------------
FOR FURTHER INFORMATION PLEASE CONTACT:
Colin Bowkett
Archer Petroleum Corp.
President
(604) 683-7588
(604) 683-7589 (FAX)
info@archerpetroleum.com
www.archerpetroleum.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Like your post, but we should all consider that ARK execs can buy FYI shares and vice versa. We have no real idea of how much these guys are invested into Matagorda.
So the guys posting and reading on stockhouse and here might be the only actual retailers for all we know (joking).
I think FYI and ARK are joined at the hip.
Colin Bowkett (president) at ARK works for Canadian Nexus (http://www.canadiannexus.com/index.php)
Mike Leahy, the guy who does IR for FYI is also from Canadian Nexus.
Hard to connect the dots here, but something interesting is going on behind the scenes for sure..
A good question asked on the FYI stockhouse board is
"Where did the FYI 8% go--to private investors (Pinetree type?)or insiders in a private sale"? Somebody good sized, who knew what they were looking at, took it off the TSX screen & swallowed it pretty quickly.
With over 55%+(?) of this project private this is really behaving more like a private than public company which means we'll be the last to know. Since ARK insiders had over 30% of ARK a month ago then we have maybe 50%(?)of the public shares.If ARK has 22% total of the project then us retailers have less than 10% of the project and FYI has another say 8% for a total of well under 18% public, an unusual situation on the TSX.
I called Parker Drilling last week and confirmed that the Parker 76B barge was in Matagorda Bay and leased to "completion specialists". Saw Texas figures indicating a 30% recovery rate for traditional drilling and as much as 60% with fracing.
Lots of odd things. Insiders, partners, Texas Investors and FYI selling off 8% in a quick private sale. The 25% gain in 1 day will certainly be getting ARK some attention. Not institutions but Pinetree type speculators. If they want in on the public portion then they're going to have to buy us out.
With any positive recompletion news the volume, trading range and share price could change dramatically.
Lots of Cheshire cats smiling and disappearing. Interesting week ahead of us.
Anyone have other logic?
Fingers, Toes & Eyes crossed :)) GL2us
147K buy just went through... gotta think they hit!
.0486---Moving-up on my Schwab trading screen :))
Consider that:
1.Arbol Oil only offered up 25% of their lease for sale.
Current ownership:
South Bay Resources owns 49%
FYI has 15%
Archer has 22%
Royalty Investors have 1.5%
Texas Investors have 5%
Total is 92.50%
Privately held 55.50%
TSX held 37%
This is a quite unusual situation: the only ones who can readily sell their interests are us TSX holders.
The private holders, all professional oil people, who have real "skin in the game", must have considerable confidence in success as they are "insiders" without a ready market except the oil market. These guys, in effect, cannot easily cut and run. News is light and not widely distributed, continued buying by the ARK CFO, who knows considerably more than any of us could, says we too should be buying. I recall that the ARK insiders had 30% a while back.
Yes DD, I'm holding, even considering buying more despite your rant and appreciate it being having been removed.
Any thoughts or corrections on the figures welcome.
Will-do Pitbul...
he deleted the (defunct) JoeMill project from the website & posted the 9/30 PR...
he said he's planning on having his web-designer update the rest...
but I suspect he'll have him do it all at one time...to include pics & reports on #127 drilling.
Soas not to abuse his hospitality , I'll wait another week before bothering him w/ Bol-Mex/FrakPack questions.
Hoping for the best here :))
Website still not updated with the latest news release.
It's been roughly 10 days since the rig has been on site.
Should hear something this week if everything went well.
Dave, you've been one of the luckt few here to get a response from Archer's President. Hopefully, if time permits, you can do a follow-up with him and get some of their pictures?
Happy Thanksgiving to all Canadians on the board here.
This week and the next are Make it or Break it for Archer.
GL to all of us :)
Pitbul...
looking at your post , I noticed the interesting comparative impact of the pre-drilling upcharges between Archer's reaction & Galena's. Archer was able to effect their contribution by selling-off only 1% out of their 23% share , while Galena sold-off 8% out of their 23%. It appears the difference (considerably in 'our' favor) is due to Archer being supported by the private Texas consortium...a much more preferable option IMO.
End-result; we still end-up holding 22% & are in a much better position to optimize profits than Galena.
Frankfurt buying as well :))...let's Rock-&-Roll !
http://finance.yahoo.com/q?s=A6VA.F
Some nice buys at .04 on the TSX
Finally picked-up some .035's myself...RunPuppyRun !
From our partner Galena Capital:
alena provides update on Matagorda Bay prospect
2011-10-06 12:02 ET - News Release
Mr. Michael Leahy reports
Galena Capital Corp. has provided the following operational update regarding its Matagorda Bay prospect. South Bay Resources LLC, has advised that the Parker 76B rig arrived under tow on location at the 127-1 well site at 10:30 p.m., Wednesday Sept. 28, 2011. recompletion activities have commenced; the perforation of the Bol Mex sand scheduled to occur in the next several days, immediately followed by a Frac Pack. Testing of the well will follow the completion of the Frac Pack procedure. As a result of operational changes including the addition of a Frac Pack procedure to the completion, the AFE for this operation has escalated to approximately $2.6-million (U.S.). The company is funding its share of this increase (approximately $258,000 (U.S.)) by way of a sale of an 8 per cent interest in the project; thereby reducing its working interest from 23 per cent to 15 per cent.
About the Matagorda Bay Prospect The Matagorda Bay recompletion project comprises approximately 1,600 acres and consists of Texas state blocks 127, 150 and the north half of block 151, and includes three existing well bores, an existing seven mile pipeline to shore and an onshore oil/gas handling facility. A key component of this acquisition is the existence of a fully drilled, cored, logged, cased and shut-in well bore (the 127-1 well) in Block 127. The 127-1 well has multiple pay zones indicated on logs and cores and is expected to be initially completed in the Bol Mex (8560 - 8710' depth) section of the Lower Frio. Internal analysis of the logs and cores of the Bol Mex zone indicate approximately 115 feet of expected oil pay. The reservoir is estimated to cover a minimum of 350 acres with potential up to 750 acres.
Welcome eom7...I'm right behind you...
no guarantess & despite the perils of AVD , seems like the thing to do given this data.
Looked to trade-off some of my better bets but they were all way down today.
2bad cause I missed-out on some of those .028's---hope you got some of those.
Will be back in the hunt 4cheapies tomorrow...the best of luck to us & APEUF.
The more I think about it , I'm really Glad most folks don't know about us...
makes for a rare window of opportunity for those in-the-know !
Looking for a 'gusher' of $$$ out of well#127...GoBabyGo !
Adding more here... Thanks
You can uncross your fingers to a degree. There's been another
insider purchase today:
TSX insider trades: 52K out of 121K total @ $0.035 ($1820) probably Robert McMorran again.
If anyone still has the annual report, please post his total.
Claude Perrier, who will be onsite, is a "real" oilman with hands on experience. If he buys in substantially next week that may the signal to follow.
My sentiments exactly Pitbul...
fingers , toes & eyeballs crossed here. !
Sure is nice to see them 'going-for-it'.
Don't know if you saw post#201 (thru all the 'static')
but it helps fill-in a whole lot of the blanks.
GL2us...don't know about you but I sure could use some :))
Thanks David. Fingers crossed!
Follow-up e-mail from APEUF President...current status...
quote;
"Thanks David.
Fyi Claude is heading to the well-site tomorrow morning so he can be there for the entering of the Bol Mex and the production test this weekend -- I have asked him to take a lot of pictures so will be good to have the completion work documented for the website.
We have a long road ahead of us but with a little luck we will have a very solid story to tell in just a few more days -- operational momentum is something that very few juniors have in this market and will then be my job to ensure that Archer stands out from the crowd. But I don't want to jinx anything -- chat soon.
Regards/Colin"
Wow...our "President" got right back to us on this...
here's what he had to say about a whole lot of things...filling-in the blanks:
-----------------------------------------------------------------
*copy/paste quote;
David -- further to my brief email earlier -- please find some additional comments:
First off -- I want to comment that I fully understand how frustrating the last several months has been to Archer shareholders due to the lack of news. Unfortunately -- a large part of that was the incredible run of bad luck we were having with the rigs (the first had a blow out, the second we contracted was blown over by the hurricane) that I was reluctant to provide any information on our progress with the third rig until the rig was actually on our well site (I felt like I was turning into the boy who cried wolf....).
Secondly -- I appreciate your support and attention to detail with our website and disclosure -- I had frankly let some important marketing information slide or get stale due to being so focused on the rig, but agree I'm behind the 8-bale on this now and need to get it rectified.
I will try to answer your points as you wrote them:
A...I would suggest that the 'news' section of your website keep pace with current developments.
Our website designer will update the news section this week.
B...the stock ticker listings on your homepage 'do not' include the APEUF symbol.
Due to the ongoing costs of maintaining an otcqx listing we elected to be temporarily downgraded to the "pink current information" tier -- we will look at the prospect of moving back to the otcqx in the future if it looks like we will have the ability (both time bandwidth and funds) to actively market our company more effectively in the US.
C...the 'projects' section of your website needs updating...no more Radway or Joe Mill etc.
Is it possible that you are viewing a cached version of the website? The Radway and Joe Mill was taken down some time ago (months, I believe).
**Issues related to exchange 'Filings':
D...your 4/21/11 'Annual Report' [note 1 pg 6] 'incorrectly' states your OTCQX ticker symbol as being TASFF (this symbol does not even exist)...see; www.otcmarkets.com/financialReportViewer?symbol=APEUF&id=48236
I'm surprised by this and will look into it. Thx.
E...more formal 'filings' needed to become 'compliant' & for you to optimize equity market cap.
**Issues related to Stock Promotion;
F...your PR announcements are going completely unseen by the vaste majority of potential Stateside investors...the only reason 'I' know about your latest announcement regarding the arrival of the drilling rig at Matagorda is because a fellow investor uncovered it & posted it on the APEUF board (& I still don't know where he found it); investorshub.advfn.com/boards/read_msg.aspx?message_id=67562152 *note that despite this PR being released by an accredited news-source , Marketwire , it apparently wasn't broadcast 'Stateside'...presumably[?] because it only shows 'foreign' exchange ticker symbols & (again) 'not' the APEUF OTC symbol...it appears to have been directed solely at TSX customers. If so , there are a whole lot of OTC investors being 'overlooked' as potential customers in your exciting venture...which leads me to wonder 'why' you bothered listing Stateside , if not to capitalize on this (broad) market ?
My fault for this -- we have been on a shoe string lately and have been doing smaller distribution to save on the cost -- on a successful recompletion I will ensure that we have very broad Canadian and US distribution.
**Other issues;
G...I was able to find the well potential details for #127-1 investorshub.advfn.com/boards/read_msg.aspx?message_id=64046001 but I have nothing for #150 or #151. I highly suspect this data would be of primary interest to potential investors & by supplying this , you'd be doing yourself a 'big' favor...as related to market cap anyway. The same is true for divulging your Matagorda venture partners (if not priviledged information). I was able to find the 'Galena' connection but we still don't know who owns the other 1/2 of the venture. This could conceivably lend added credibility to this shared venture in my opinion.
I agree we have been somewhat vague about the details associated with 150 & 151 -- the key to the prospect has always been the 127-1, and once we know that we have a success there the 150 & 151 come more into play (and we will also have new and valuable data on the overall reservoir) and we will work to provide better information to the market.
Our other partners in this play are South Bay Resources (49%), Galena (23%) and a private group in Texas (5%) -- certainly not privileged info -- the private group in Texas are people already involved in Archer from a technical perspective, they liked the play so much that when it was determined that Archer was unable to fund more than 23pct they put their hand up to take some points privately, which I can tell you is vote of confidence that I appreciate.
That's about it & I sincerely hope you take these suggestions in the spirit they were given...'supportive, well-meaning & constructive'.
May good fortune come your way (& ours as well),
David xxxxxxxxxx
I appreciate your support David -- please don't hesitate to contact me with any additional comments or questions you may have.
Good luck to us all...!
Best regards
--
Colin Bowkett
Tel 604.683.7588
------------------------------------------------------------------
*Wow...what a string of bad luck but , to their credit , they 'survived' & things are looking-up.
***Note to Pitbul...you may wish to post some-or-all this very informative response on the TSX forum for the benefit of your like-minded friends north of the border...
I don't think Colin would mind. I'll see what I can do about passing the word around iHub...Thx & GL2all
Just sent-off an investor inquiry to Mngmt...
hopefully someone monitors their IR 'contacts' inquiries...here's what I sent;
------------------------------------------------------------------
Greetings;
I am a (supportive) APEUF investor & the Moderator for the Investors Hub APEUF forum...see; http://investorshub.advfn.com/boards/board.aspx?board_id=18940
As such , I make it my business to keep up on all business matters pertaining to your company. I also go out of my way to see to it that I pass-along 'accurate' & timely information to my fellow investors & for those investors considering buying-in. Although you may or may not have heard of iHub , the iHub APEUF forum appears to be the most prolific & credible forum dedicated to your stock (far more posts than the TSX & 'much' higher standards than that on Yahoo) & although there are only 6 investors (incl some from Canada) active on the iHub board so-far (almost assuradly for the reasons listed below) , they are serious-minded investors that are just as interested as you (& I) are , in seeing your company succeed. I can promise you'll see many more 'if' you'll take the time to review (& 'act' upon) the suggestions outlined below.
With this in-mind; I'd like to call your attention to a few information discrepancies that stand in the way of my accomplishing my (voluntary) tasks as an iHub Moderator.
**Issues relating to the Archer Website:
A...I would suggest that the 'news' section of your website keep pace with current developments.
B...the stock ticker listings on your homepage 'do not' include the APEUF symbol.
C...the 'projects' section of your website needs updating...no more Radway or Joe Mill etc.
**Issues related to exchange 'Filings':
D...your 4/21/11 'Annual Report' [note 1 pg 6] 'incorrectly' states your OTCQX ticker symbol as being TASFF (this symbol does not even exist)...see; http://www.otcmarkets.com/financialReportViewer?symbol=APEUF&id=48236
E...more formal 'filings' needed to become 'compliant' & for you to optimize equity market cap.
**Issues related to Stock Promotion;
F...your PR announcements are going completely unseen by the vaste majority of potential Stateside investors...the only reason 'I' know about your latest announcement regarding the arrival of the drilling rig at Matagorda is because a fellow investor uncovered it & posted it on the APEUF board (& I still don't know where he found it); http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67562152 *note that despite this PR being released by an accredited news-source , Marketwire , it apparently wasn't broadcast 'Stateside'...presumably[?] because it only shows 'foreign' exchange ticker symbols & (again) 'not' the APEUF OTC symbol...it appears to have been directed solely at TSX customers. If so , there are a whole lot of OTC investors being 'overlooked' as potential customers in your exciting venture...which leads me to wonder 'why' you bothered listing Stateside , if not to capitalize on this (broad) market ?
**Other issues;
G...I was able to find the reserve potential details for #127-1 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64046001 but I have nothing for #150 or #151. I highly suspect this data would be of primary interest to potential investors & by supplying this , you'd be doing yourself a 'big' favor...as related to market cap anyway. The same is true for divulging your Matagorda venture partners (if not priviledged information). I was able to find the 'Galena' connection but we still don't know who owns the other 1/2 of the venture. This could conceivably lend added credibility to this shared venture in my opinion.
That's about it & I sincerely hope you take these suggestions in the spirit they were given...'supportive, well-meaning & constructive'.
May good fortune come your way (& ours as well),
David xxxxxxxx
.
Thankyou kindly Pitbul...I agree; investor forums (if not abused) can be highly beneficial in putting together a collective database of pertinant ideas & DD specifically targeting a given stock. Compared to yesteryear , this has to be worlds-ahead of what our fathers had to contend with in their day...the Penny-markets are bad enough as it is...let alone 'not' having access to a forum community of like-minded investors to compare notes with.
Thx for being a very meaningful part of this one.
Good evening DDhawk, as per your request I posted it on the TSX Venture board.
I think forums are a great place to share investment ideas. We're all here to make money, and the APEUF board is a great place. Everyone is helpful! I don't ofen come to this website. I am more often on Stockhouse, so if any of you are member there, send me a frienship request!
Good job guys and girls! hopefully our patience with Archer Petroleum will pay off in spades.
Looking forward to reading what those of you with OIL Investment expertise have to say.
Have a nice weekend gang.
Pitbul
Would appreciate if Speedy could take a 2nd look at valuations...
his 1st attempt (although highly appreciated) seemed to assume fairly low values for wells in the area...$20 to $30bbl...it also didn't include nat-gas into the equation. In addition , I think[?] Speedy was only evaluating well#127 & not #150 & #151 , that were added into the project scope later (as I recall). This might not be so easy because unlike the known reserve numbers for well#127 , I haven't seen any numbers for #150/151. I've read that both are thought to be of value but no exact numbers were given...from what I've seen anyway. OT...**Note to Pitbul: might be helpful if you could post this new PR on the TSX forum...thx very much for your contributions btw :))
Important Disclosures / Announcements:
*credit given for Pitbul's contribution today & another in March (thankyou kindly Sir):
-------------------------------------------------------------------------------------------------------
*Pitbul's post today;
FINALLY!
Archer Petroleum Corp.
TSX VENTURE : ARK
FRANKFURT : A6VA
September 30, 2011 08:00 ET
Archer Petroleum Provides Update on Matagorda Bay Recompletion Prospect
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 30, 2011) - Archer Petroleum Corp (TSX VENTURE:ARK)(DBFrankfurt:A6VA), (the "Company"), is pleased to provide the following update on its Matagorda Bay recompletion prospect.
South Bay Resources LLC, ("the Operator") has advised that the Parker 76B rig arrived under tow on location at the 127-1 well site at 22:30 PM hours, Wednesday September 28th, 2011.
Recompletion activities are expected to commence immediately with the perforation of the Bol Mex sand scheduled to occur in approximately five days, immediately followed by a Frac Pack. Testing of the well will follow the completion of the Frac Pack procedure.
As a result of operational changes including the addition of a Frac Pack procedure to the completion, the AFE for this operation has escalated to approximately $2.6m USD. These procedural changes were approved by the Company's board of directors in an effort to maximize production rates following a successful completion.
The Company is funding its share of this increase (~US$258,000) through a combination of cash from its treasury; a sale of a 1% interest in the project (thereby reducing its working interest from 23% to 22%); and the issuance of a 1.3125% gross overriding royalty in the project.
About the Matagorda Bay Prospect
The Matagorda Bay recompletion project comprises approximately 1,600 acres and consists of Texas State Blocks 127, 150 and the North half of Block 151, and includes 3 existing well bores, an existing 7 mile pipeline to shore and an onshore oil/gas handling facility.
A key component of this acquisition is the existence of a fully drilled, cored, logged, cased and shut-in well bore (the 127-1 well) in Block 127. The 127-1 well has multiple pay zones indicated on logs and cores and is expected to be initially completed in the Bol Mex (8560 - 8710' depth) section of the Lower Frio. Internal analysis of the logs and cores of the Bol Mex zone indicate approximately 115 feet of expected oil pay. The reservoir is estimated to cover a minimum of 350 acres with potential up to 750 acres.
About Archer Petroleum:
Archer Petroleum Corp. is an independent oil and gas company focused on exploration and development in North America. Archer's assets include properties in Matagorda Bay including Blocks 127, 150 and 151. The Company's shares are listed on the TSX Venture Exchange under the symbol "ARK" and the DB Frankfurt exchange under "A6VA". Further information on Archer can be found on the company's website at www.archerpetroleum.com.
ON BEHALF OF ARCHER PETROLEUM CORP.
Colin Bowkett, President
Although Archer believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Archer can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), and commodity price, interest rate and exchange rate fluctuations. The forward-looking statements contained in this document are made as of the date hereof and Archer undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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*and from a prior (but very important) PR posted by Pitbul in March 2011:
Archer Petroleum Corp
Symbol C : ARK
Shares Issued 34,218,047
Close 2011-03-04 C$ 0.095
Recent Sedar Documents
Archer signs definitive deal for 23% in Matagorda Bay
2011-03-07 10:53 ET - News Release
Mr. Colin Bowkett reports
ARCHER PETROLEUM CLOSES PURCHASE AND SALE AGREEMENT ON MATAGORDA BAY PROJECT IN THE GULF OF MEXICO
Archer Petroleum Corp. has entered into a definitive participation agreement with Arbol Energy, a private Houston-based oil and gas company, governing Arbol's Matagorda Bay, Texas, prospect.
Further to news in Stockwatch on Dec. 7, 2010, the participation agreement provides Archer with a 23-per-cent working interest (23-per-cent working interest before payout, 17.25-per-cent working interest after payout) in the 1,280 acres covering Texas State blocks 127, the south half of block 150 and the north half of block 151, and includes three existing wellbores, an existing seven-mile pipeline to shore and an onshore oil/gas handling facility.
Under the terms of the participation agreement, Archer will pay 23 per cent of lease acquisition, geological and geophysical costs ($650,000 gross, or $150,000 net) and 23 per cent of any costs associated with recompletion of the existing wellbores.
A key component of this acquisition is the existence of a fully drilled, cored, logged, cased and shut-in wellbore (the 127-1 well) in block 127. The 127-1 well has multiple pay zones indicated on logs and cores and is expected to be initially completed in the Bol Mex (8,560 to 8,710 inches depth) section of the Lower Frio. Internal analysis of the logs and cores of the Bol Mex zone indicate approximately 115 feet of expected oil pay. The reservoir is estimated to cover a minimum of 350 acres with potential up to 750 acres.
Completion planning has already begun with operating partner South Bay Resources, and on-site operations are expected to commence within the next two months.
Costs associated with the re-entry, perforation and testing of the 127-1 well are expected to be approximately $1.2-million (approximately $276,000 net to Archer).
Internal analysis indicates an additional 200 plus feet of apparent net pay are evident in the logs and cores, and upon successful completion of the Bol Mex interval the company will target these additional zones for future completions.
Claude Perrier, chief executive officer, states: "This new asset package fits well in Archer's strategic plan of low-cost, low-risk, quick revenue generation assets. Archer expects to be able to move from deal origination to on-line operations in less than four months."
The Parker 76B rig is very impressive.
Go to the PKD site (listed on NYSE) using Yahoo Finance
and take a look at the 76B rig: $29K per day.
Since Parker Drilling is a world class driller and also rents downhole tools: Our first hint earlier was news that the screens and downhole tools had been secured.
Even with a lesser interest we could see a $0.50-1.00 range
in October. There may be some big dogs in the shadows ready to take our cheap seats. Thanks Speedy for your early calculations: hopefully they were actually conservative and we get a 10-20 bagger!
I wonder whether PDK will stay and do the other 2 wells?
Guess it depends on intial success?????
GLTA
I probably would have gone for some .025's
if I had any powder available...my other trade-worthy stocks were
down today , making it 'not' worth the trade-off. Beyond that; I
can't really argue with Pitbul's point either. Just like picking
a 'winner' in Pennyland , it's been my experience that avg-down
stands about a 5% chance of being a winning proposition...the rest
are akin to catching a falling knife...going to get hurt even if
I caught it. Just have to be happy with what I've got I guess.
.
:)
The brokers have shares around $.45 here, I think they'll want to make some money off this play sooner or later.
I was told by people close to the company, that they wanted to see it trading between .50 and 1$ after the recompletion. Will it happen? I have no idea, but it would sure be nice..
That person was right in telling me they were going to do a Private Placement and that insiders would take most of it... Will this thing pan out too? Hope so :)
Goodluck
We can agree on that!
True...
but if a stock is tanking, it's tanking for a reason...(unless its VERY illiquid..)
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Archer Petroleum is an independent oil exploration and development company in North America.
*Engaged in Tar Sands reclaimation tech & surface tar sands mining in Kentucky, USA , as of March 2013.
Archer Petroleum Corp.
Suite 880-609 Granville Street
Vancouver, BC V7Y 1G5
Canada
http://www.archerpetroleum.com
Phone: 604-683-7588
Fax: 604-683-7589
E-mail: info@archerpetroleum.com
O/S
+/- 3,781,825 as of Sept. 25, 2012 post-R/S ...*update note; (unconfirmed as yet) the TSX exchange now shows "shares out" as being 30,405,310 w/a $12,162,124. Market Cap as of April 5th, 2013
Transfer Agents
Computershare Trust Company of Canada Inc.
510 Burrard St.
Vancouver, BC V6C 3B9
Canada
*Above Info per: OTCMarkets.com as of 9/25/12
**Toronto Exchange (via Stockhouse) ARK:v Archer Petroleum forum http://www.stockhouse.com/tools/?page=%2Ffinancialtools%2Fsn%5Foverview%2Easp%3Fsymbol%3Dv%2EARK%26table%3DLIST
**Frankfurt Exchange A6VA.F Archer Petroleum http://finance.yahoo.com/q?s=A6VA.F
Related data;
2011 US Shale Plays... Map: http://www.eia.gov/oil_gas/rpd/shale_gas.pdf w/ related 2011 article: http://news.nationalgeographic.com/news/energy/2011/09/110928-shale-oil-boom-colorado-great-plains/
Energy Conversions
One barrel of crude oil equals:
42 gallons
5,800,000 BTU of energy
5,614 cubic feet of natural gas
0.22 ton of bituminous coal
One cubic foot of natural gas equals:
7.48 gallons
1,030 BTU of energy
0.000178 barrel of crude oil
0.00004 ton of bituminous coal
This is not an offer to buy or sell securities or any kind of investment advice. Oil investment carries very high risks so do your own due diligence. Seeking investment advise from a reputable professional (of your own choosing) is usually a wise decision.
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