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People on ihub more than not buy and follow stocks that are trading like at .0012
This is a big mistake!
This is where the $MONEY$ is at.
Supposedly that was good news on Wed, right? Just wondering about the long red candle, seems like more downside, waiting to get in here.
I only could buy 10,000 shares, but I see that someone bought 150,000 shares at 2:53, something must be up.
I wish I could've bought about 25,000 shares.
The next time news comes out, it is going to be really good news.
IMHO
The volume was huge today, this one is looking good.
Don't feel bad, this stock will be up to $1.50 here soon.
It has to be, its a cold winter and this company is in the business of oil and natural gas.
Hi jsc...takin' a look see here
CanArgo Energy Corporation: Operations Update
Monday January 14, 7:08 am ET
GUERNSEY, CHANNEL ISLANDS--(MARKET WIRE)--Jan 14, 2008 -- CanArgo Energy Corporation ("CanArgo" or the "Company") (AMEX:CNR - News)(Oslo:CNR.OL - News) today provided an update on its Georgia operations including the planned acid fracturing stimulation of the Manavi 12 well.
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The mobilisation of equipment by Schlumberger to Georgia for the planned acid fracturing stimulation of the Manavi 12 well is progressing well. Despite the severe weather conditions with heavy snow falls across the country and sub -20 degrees C temperatures since the beginning of the year, approximately 70% of the equipment has been delivered to the well site. The remaining equipment is expected to be on site within the next few days. Schlumberger personnel have arrived in the country and have already started to prepare and test the equipment for the acid fracturing operation which will commence once the equipment has been rigged up, this operation itself being subject to an improvement in the weather conditions. Once the acid has been successfully pumped, the spent chemicals will be flowed back and the well will be prepared for production testing.
Production at the Ninotsminda Field averaged approximately 450 barrels of oil per day gross and approximately 2.13 million cubic feet (61,360 cubic metres) of gas per day during 2007 and the daily average for January 2008 to date is approximately 420 barrels of oil and 2.4 million cubic feet (68,000 cubic metres) of gas. Further to an ongoing technical re-evaluation of the field, the company believes that there are significant potential reserves remaining both within and surrounding the main field area and the company is working on a production enhancement strategy to increase the level of production subject to financing being available.
Such production enhancement strategy might include:
1. Drilling a new well into the undeveloped eastern part of the field. This would be a highly deviated well from the vicinity of the N98H surface location with up to two horizontal sections being completed in the Middle Eocene reservoir interval. The eastern part of the Ninotsminda Field has not been exploited because most of the area falls within an environmental protection zone where drilling is prohibited. The N98 horizontal well is the most easterly producing well on the field and although not oriented in an optimal direction so as to best encounter the sub vertical fractures which are important for production, the well has produced approximately 510,000 barrels of oil to date and continues to produce at a steady rate of approximately 200 barrels of oil per day (bopd) with less than 1% water cut. More optimally oriented horizontal wells such as N4H and N100H1 initially tested at rates of approximately 2,000 bopd.
2. The use of new technology such as radial drilling to produce trapped oil from shallower reservoirs overlying the main Middle Eocene reservoir. Previous attempts to produce these zones using perforations were largely unsuccessful due to near well bore reservoir damage caused by unsuitable drilling fluids used in Soviet times. It is believed that radial drilling could have the ability to reach beyond this damage and the Company is currently in discussion with a service provider both on the suitability and availability of this technology.
3. General workover activity such as the application of perforations to unproduced reservoir intervals and the use of water isolation techniques to suppress water flow and increase oil production.
4. Following the completion of testing operations at M12, consideration may be given to mobilising CanArgo rig #2 to the N52 well to complete the fishing operation to extract the remaining portion of drill pipe, tubing and a milling assembly which was left in the well when it was originally drilled in Soviet times. In 2007, approximately 7,155 feet (2,181 metres) of tubing was recovered from the well before the pulling capacity of Rig #1, which is a much lighter rig than Rig #2, was reached. On accessing the borehole, it would be planned to perforate the Middle Eocene reservoir interval and put the well on production. Well N52 is located in the eastern part of the Ninotsminda Field and was never put into production due to the presence of the fish.
5. On the northern flank of the Ninotsminda Field is a potentially large accumulation of oil in the Oligocene interval which has been established by the N78 well. This well, drilled several years ago, initially tested oil at rate of 1,074 bopd, but never produced at this high rate due to the incursion of water due to what is believed to be a poor cement bond behind the casing. A new vertical well to the west of N78 is being considered in order to better exploit this accumulation.
It was previously announced that Georgian Oil & Gas Corporation (GOGC), who owns and maintains the gas pipeline system in Georgia and is responsible for the security of gas supply and diversification of such supply routes, had proposed to connect the region of Georgia within which the Ninotsminda Field is located to the Georgian domestic gas grid. This work was expected to be completed before the end of 2007, but due to bad weather and for other reasons, GOGC has now indicated a planned completion date of February 5, 2008. The completion of this project will allow the Company access to a wider gas market area for its production with the potential for higher prices and sales on an all year round basis. The Company and GOGC, who is also the State representative in the Production Sharing Contract, plan to market their respective shares of gas produced from the Ninotsminda Field jointly and are currently working on a number of alternatives to maximise gas sales.
Vincent McDonnell, President and Chief Executive Officer commented, "Given the adverse weather conditions experienced in Georgia since the beginning of the year, the shipping agent, Schlumberger and our people are making excellent progress in getting the fracturing equipment to M12 with the minimum of delays. At this time, we are still on target to commence production testing the well before the end of the month." Mr. McDonnell also said, "With the continuing high oil prices, we have been working hard to devise a production enhancement strategy for the Ninotsminda Field. There are a number of operations with low to medium risk which can be undertaken in the short to medium term which afford excellent potential to increase production subject, of course, to financing being available. We are also working with our partner, GOGC, on gas sales and hope to be able to increase revenues and gas production from the field following the completion of the pipeline by GOGC."
CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in Georgia.
The matters discussed in this press release include forward-looking statements, which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements. Such risks, uncertainties and other factors include the uncertainties inherent in oil and gas development and production activities, the effect of actions by third parties including government officials, fluctuations in world oil prices and other risks detailed in the Company's reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission. The forward-looking statements are intended to help shareholders and others assess the Company's business prospects and should be considered together with all information available. They are made in reliance upon the safe harbour provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company cannot give assurance that the results will be attained.
Contact:
Contacts:
CanArgo Energy Corporation - USA
Sabin Rossi
VP External Affairs and Investor Relations
(617) 669-1841
(617) 973-6406 (FAX)
Email: sabin@canargo.com
Gambit H&K AS - NORWAY
Eric Cameron
+47 (22) 048200
CanArgo Energy Corporation: Manavi Operations Update
Tuesday December 11, 4:28 pm ET
GUERNSEY, CHANNEL ISLANDS--(MARKET WIRE)--Dec 11, 2007 -- CanArgo Energy Corporation ("CanArgo" or the "Company") (AMEX:CNR - News) (Oslo:CNR.OL - News) today announced that the preparatory works being carried out at the Manavi 12 well in Georgia for the planned acid fracturing stimulation program have now been successfully completed.
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The operator, CanArgo Georgia, has completed running and pressure testing the completion string for the acid frac in the M12 well and the well is now ready for the fracturing treatment. Schlumberger are providing the equipment and will perform the stimulation services. As previously announced, mobilisation of the equipment is expected to commence on December 19 and currently everything is on track to complete the acid fracturing and to commence flow testing the well during January 2008.
The objective of the acid fracturing treatment in M12 is to remove near wellbore damage and connect the well with a potential network of natural fractures in the Cretaceous reservoir similar to that observed in outcrop in the area. The effectiveness of acid to stimulate the carbonate reservoir encountered at Manavi has been demonstrated in the laboratory and by the simple low pressure acid matrix treatment undertaken in April of this year. Following that treatment, an increase in flow was obtained from the well with light 40.5o API oil, gas, drilling mud and chemicals flowed to surface. The equipment being mobilised will enable acid and chemicals to be pumped at a sufficient rate to fracture the reservoir beyond any potential damaged zone and hopefully establish proper communication between the well and the reservoir.
CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in Georgia.
The matters discussed in this press release include forward-looking statements, which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements. Such risks, uncertainties and other factors include the uncertainties inherent in oil and gas development and production activities, the effect of actions by third parties including government officials, fluctuations in world oil prices and other risks detailed in the Company's reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission. The forward-looking statements are intended to help shareholders and others assess the Company's business prospects and should be considered together with all information available. They are made in reliance upon the safe harbour provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company cannot give assurance that the results will be attained.
CanArgo Energy Corporation: Operational Update on Kumisi #1 and Manavi 12
Thursday October 18, 5:30 pm ET
TBILISI, GEORGIA--(MARKET WIRE)--Oct 18, 2007 -- CanArgo Energy Corporation ("CanArgo" or the "Company") (OSE: CNR) (AMEX:CNR - News) today issued an update on testing operations on the Kumisi #1 well and the planned acid fracturing stimulation of the Manavi 12 well in Georgia.
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Testing operations have now been completed at the Kumisi #1 well. Following testing of the Cretaceous interval, further tests were carried out of potential reservoir units in the overlying Middle and Lower Eocene sequences. Three separate tests were conducted with a total of 79 feet (24 metres) of sandstones being perforated and flow tested. These tests produced water with gas flow to surface in flareable quantities, but non commercial volumes. Each interval was flow tested for a number of days over which there was no increase in the amount of gas produced and the testing was subsequently terminated.
At the M12 well located on the Manavi oil discovery, operations continue in order to prepare the well for the planned acid fracture stimulation treatment and to continue production testing the well. Schlumberger have been contracted to provide pumping equipment, chemicals and services to the Company. An initial mobilisation date was planned for late September, but Schlumberger has now informed the Company that, due to unforeseen circumstances, they will not be ready to commence mobilisation of the equipment before the end of October or early November. It is therefore anticipated that the fracture stimulation will now be done in November after which the well will be flow tested.
CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in Georgia.
The matters discussed in this press release include forward-looking statements, which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements. Such risks, uncertainties and other factors include the uncertainties inherent in oil and gas development and production activities, the effect of actions by third parties including government officials, fluctuations in world oil prices and other risks detailed in the Company's reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission. The forward-looking statements are intended to help shareholders and others assess the Company's business prospects and should be considered together with all information available. They are made in reliance upon the safe harbour provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company cannot give assurance that the results will be attained.
Contact:
Contacts:
CanArgo Energy Corporation - USA
Sabin Rossi
VP External Affairs and Investor Relations
(617) 973-6441
(617) 973-6406 (FAX)
Email: sabin@canargo.com
CanArgo Announces the Sale of Its Interest in Tethys Petroleum
Wednesday August 1, 2:49 pm ET
GUERNSEY, CHANNEL ISLANDS--(MARKET WIRE)--Aug 1, 2007 -- CanArgo Energy Corporation (Oslo:CNR.OL - News)(AMEX:CNR - News) ("CanArgo" or the "Corporation") today announced that it sold its entire shareholding of 8,000,000 shares in Tethys Petroleum Limited (Toronto:TPL.TO - News). The gross proceeds of the sale, before commission and expenses, amounts to C$23.6 million. The settlement date will be August 3, 2007 and the net proceeds received from the sale of these shares will be used by CanArgo to repay a portion of its existing debt.
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CanArgo is an independent oil and gas exploration and production company with its principal oil and gas operations currently located in Georgia.
The matters discussed in this press release include forward-looking statements, which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements. Such risks, uncertainties and other factors include the uncertainties inherent in oil and gas development and production activities, the effect of actions by third parties including government officials, fluctuations in world oil prices and other risks detailed in the Company's reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission. The forward-looking statements are intended to help shareholders and others assess the Company's business prospects and should be considered together with all information available. They are made in reliance upon the safe harbour provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company cannot give assurance that the results will be attained.
Contact:
Contacts:
CanArgo Energy Corporation - USA
Sabin Rossi
VP External Affairs and Investor Relations
(617) 669-1841
(617) 973-6406 (FAX)
Email: sabin@canargo.com
Gambit H&K AS - NORWAY
Eric Cameron
+47 (22) 048206
Not much action on these boards. When this was GUSH it was wild.
Nice find I added Friday and looks good this morning.
CanArgo Energy Corporation: Kumisi #1 Appraisal Well Reaches Total Depth
Wednesday July 4, 4:25 pm ET
TBILISI, GEORGIA--(MARKET WIRE)--Jul 4, 2007 -- CanArgo Energy Corporation ("CanArgo") (Oslo:CNR.OL - News) (AMEX:CNR - News) today announced that the Kumisi #1 appraisal well in Georgia has been successfully drilled to a total depth ("TD") of 11,841 feet (3,609 metres) in the Cretaceous having encountered gas shows over a significant interval.
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The Kumisi #1 well was drilled to appraise the West Rustavi #16 Cretaceous gas condensate discovery made in Soviet times but never previously appraised. The well is located 7.4 miles (11.9 kilometres) to the west of the original discovery well which encountered the top Cretaceous some 2,820 feet (860 metres) deeper.
A total Cretaceous interval of approximately 2,392 feet (729 metres) was penetrated in the Kumisi well. This section is comprised of an upper carbonate sequence, interbedded limestones and tuffs underlain by more massive volcanics. Wireline logs run in the well and high background gas readings recorded while drilling indicate a potentially significant hydrocarbon column in the well with no indication of a hydrocarbon-water contact. A 5" (130 millimetres) solid liner has been run and cemented in the well to a depth of 11,539 feet (3,517 metres) below which an uncemented slotted liner has been run.
The Company is now preparing the well for an extensive well testing program. Testing is expected to commence within the next two weeks and will initially focus on the slotted liner section which is run over a potentially fractured volcanic interval where elevated gas readings were recorded during drilling. This will be followed by the testing of separate additional zones in the cased hole section. Up to three separate intervals will be tested with the current planned well completion which is to be run at approximately 10,650 feet (3,246 metres) before moving further up the hole to conduct further testing.
CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in Georgia.
The matters discussed in this press release include forward-looking statements, which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements. Such risks, uncertainties and other factors include the uncertainties inherent in oil and gas development and production activities, the effect of actions by third parties including government officials, fluctuations in world oil prices and other risks detailed in the Company's reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission. The forward-looking statements are intended to help shareholders and others assess the Company's business prospects and should be considered together with all information available. They are made in reliance upon the safe harbour provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company cannot give assurance that the results will be attained.
Contact:
Contacts:
CanArgo Energy Corporation - USA
Sabin Rossi
VP External Affairs and Investor Relations
(617) 669-1841
(617) 973-6406 (FAX)
Email: sabin@canargo.com
Gambit H&K AS - NORWAY
Eric Cameron
+47 (22) 048206
I agree and moxt oils IMO PRVB SNG HEC and APXR.
James. This one should be getting ready for a pop..IMO.
In CNR at 1.09
In CNR here 1.05
I know "should have" doesn't count but we should have bought at $1
This is the current chart for CNR!
I have never seen a chart like this for any other company in a very long time now.
It has a BUY rating in every single category all the way down across the board!
Check this out:
http://quotes.barchart.com/texpert.asp?sym=cnr
,,,,,CNR,,,,,is kicking butt!!
CanArgo Energy Corp. (AMEX: CNR ) has been rising sharply on a steady and daily basis!
They are expected to announce news on whether they've struck OIL!
http://finance.yahoo.com/q?s=cnr
No Problem, I was just scanning the new board list and noticed it as I have looked into CNR in the past a few times. best of luck to you here and elsewhere...RU
...oops! Let's see if I can fix that. Thank you for pointing it out.
the symbol for CanArgo on this board is wrong, it should be CNR. CYTO is the symbol for cytogen.
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Canargo Energy Corp.
PO Box 291
St Peter Port, GY1 3RR
Channel Islands - Map
Phone: 44 14 8172 9980
Fax: 44 20 7808 4747
Web Site: http://www.canargo.com
Link to Investor Firms:
http://www.mffais.com/cnr.html
Top 20 CNR Shareholders in the Norwegian VPS System
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CanArgo Energy Corporation engages in the acquisition, exploration, development, production, and marketing of crude oil and natural gas primarily in the Republic of Georgia and the Republic of Kazakhstan. It has exploration and development activities in Ninotsminda Field and Samgori Field in Georgia; and in Kyzyloi Field and Akkulka block in Kazakhstan. As of December 31, 2004, it had proved developed and undeveloped reserves of 5.499 million barrels of oil and 2.502 billion cubic feet of natural gas. The company was founded in 1971 and is headquartered in St. Peter Port, British Isles.
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