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From recent BG report (that was posted on IV) mentions the Bounty well on pages 2, 18, and 19. Words used to describe are "discovery" and "material". Based on previous pr's from SNG/CHQ flow tests should be completed by mid August (at the latest). Recent drop below $4 IMO gives one last good buying opportunity.
http://www.bg-group.com/InvestorRelations/Results/Documents/2008/BG-Q208results_transcript.pdf
News...Bounty as deep as its going to get. Casing and flow testing over the next 30 days. Good time to pick up shares if needed on this dip. GLTA
I picked up some "lucky" shares today! Them there shares are based on Geology.
With the utmost respect Mr. Bounty Hunter, luck had 'nothing' to do with it. It is all about LOGIC & SCIENCE.
failure is 'not' an option
Yes, and by now it may be well over 1000 feet of net pay. We're getting so lucky.
Even better...thanks! My internet connection doesn't let me listen to their audio/video presentations and I miss things, but 800' is awesome! Might see a pr next week to verify current logging and new TD? Been in this since 2005 and glad I held on for the success they're having in T&T.
They have decided to drill deeper based on abundant gas formations in multiple reservoirs. They will now be going an extra 217 feet to 18,217 and have already logged well over 800 feet of pay.
Wireline logging second potential pay zone. This might be the primary target, but still another 700' to TD. Looking for a pr first part of next week.
http://www.cansup.com/pdf_files/ddu-03-06.pdf
Less than 750' to TD. Barring any problems or stops to log potential pay...won't be too many more days. Ya think TD on July 4th would be sweet??? Tested before mid-August?
Excellent news today. Logging potential 200' payzone before proceeding.
I 'turn off the market'. I only check the pps of my stocks maybe once a month. I have appropriate conviction, and I know where the price will be on SNG years from now. I know how successful Intrepid is. I know and understand Science
FACT
END OF STORY
...failure is 'not' an option
Wow! That's some kind of Canadian Kharma going on there, lol.
With all that going for you, I think you will do just fine on your SNG investment. Sometimes buying stock on a whim pays back more than all the DD in the world.
Some coincidences are hard to ignore. Yes I now live in Trinidad, CA and my father worked for a company named Superior Oil Company, which at one time was the largest independent before being bought out by Mobile Oil. Mike Coolen worked for Mobile and knew many of the Superior Oil folks. My first investment at age 15 was in Canadian Superior Oil, a subsidiary of Superior. I stumbled onto Canadian Superior Energy one night when I was doing a Google search for anything about the old Superior Oil Company, and ended up buying shares for mostly sentimental reasons. Now really glad I did!
Thanks... I will check that site out tonight...
I have a boatload of $'s riding on both SNG and CHQ so the more info I can get, the better...
Funny - I noticed that your profile shows that you live in Trinidad, CA... That to me would be a "sign" that you gotta be in SNG as they try to hit the "homerun" to use Greg Noval's often used line. GLTY!
This board was dead for a long time before The Great Dane got it going again. They might have given up due to the lack of posters. If you want to follow SNG/CHQ, a good place to look is Investor Village. That seems to be where most posters are.
GL
hillzman - I wonder where the moderator and assistant has been the last 2 weeks. Nary a peep out of them since I first posted on this message board. Maybe they flew down to T&T for a little field trip DD... lol
Kind of boring only having two people chime in to discuss this company as they near proving up 4 TCF of NG reserves.... I guess that balances out the circus over at that TX o/g company board we both follow....
Got to agree 'cause delays aren't cheap! I've got no idea why there wasn't an update to follow up on previous statements.
Finally, the CanSup website daily drilling update report file has new information on it today. And it's not good news. At least they show to be drilling again at 15,271' even though the well should be at TD by now from the early May PR. My bet is that they had hole prob's again (lost circulation / stuck pipe / BOP repair / who knows?).
It is disappointing to me that CanSup hasn't PR'd this, they are acting more like a Pink sheet stock instead of an AMEX listed company on this lack of info.
The downhole prob's on Victory didn't affect the substantial gas discovery but the added drill time definately costs money.
There are footnotes in the CanSup financials that there is an ~$6M dispute ongoing with the driller over cost over runs on the first well.
Let's hope for a PR detailing an updated status report and a new target date for getting to TD.
That has been disappointing since they didn't pr the news "blackout". I thought they might show progress all the way down since the diagram doesn't show geology/targets.
I really think that they should be showing on the website if they are indeed not updating the daily drilling reports anymore. The link keeps updating to the current date but the document has been static since May 8th and 14,415 feet.
I have been with SNG long enough to know that the Victory well went into "tight hole" status during the last section of the well bore drilling. It was clearly seen on the website that the daily updates would no longer be given until a PR was released with the results.
I have even emailed SNG several times about this and have not gotten a reply to any of my correspondence.
I would say that some type of PR will be forthcoming in the next 7 days or so since previous PR's stated that TD should be reached in early June (which is pretty darn close to NOW)
Assuming all is well on the "Bounty" (problems would likely be pr'ed) we should be getting really close to TD. Just waiting for an announcement that they will be flow testing. Good luck to SNG and GLTA.
oops! Of course I meant to say Victory instead of Intrepid when referring to the first well.
I found this SNG board tonight whilst reading up on a pinkie stock I also own.
I've been an investor in SNG (and more recently CHQ too) since the Mariner I-85 well. I am extremely excited about the results to date on block 5C and the Intrepid results. The Bounty daily drilling update blackout on the SNG website is driving me crazy though. Are they really still at 14,415 ft. since 5/8? Are they just withholding the well status since they are entering the potential payzone areas and are in "tight hole" status?
Anyone care to speculate about what is going on out there on the Kan Tan IV? I sure hope it's just a news blackout and not major equipment or well trouble like happened several times during Intrepid's drilling.
GLTA, I think SNG's SP will hit double digits easily with a successful Bounty result.
Folks, The Bounty Hunter has arrived at calculations, but first, here's the latest news...
http://www.ft.com/cms/s/0/0f85143c-2a85-11dd-b40b-000077b07658.html
Alright then, I've been working on a timetable for investors and one thing we notice from the Challenger Energy presentation is that the Endeavour will not be spud until late in the third quarter of 2008. I know we are all excited about getting each well done and knowing the total for the first three wells on this block.
So, here is our timetable.
We get news soon on a drilling update. We haven't seen one in a couple of days now. This is located on the company website.
Next, we see that this section of the well will be logged and the results will show that flow testing is warranted. On the Victory Well, this PR took about 10 days after TD. For Bounty, that would be around the 16th of June. However, we may be in for a very quick upswing in price as there, is probably a lot more data right now on this prolific well and the company seems to be so busy they are sometimes forgetting to post timely updates on the website.
Now, what is really great is that they are intending to spud Endeavour late in the third quarter. Now, if you add up the months and days in your head that would be at least August 16th or later for Endeavour. That would be two months from the June 16th PR date for flow testing. On Victory, it only took a month and a half.
I think that what all this means is that they will be testing multiple zones and this is going to take more time on this prolific well. If you look at the timetable, it may be that we flow test zones at Bounty for three months. That is awesome!
My friends,
Here's an article from our friends at The Calgary Herald. Needless to say, I didn't like the tone of Cindy Zipf; however, if you get through her negative comments on our fine proposal and company, you will see how a lucrative supply of gas from our Boutny well in Trinidad fits in with the project. We would be supplying the Northeast United States with Trinidadian gas which is high quality, and cleaner burning than other fossil fuels. The free movement of our good(gas) and service(providing gas) is good for the economy.
http://www.canada.com/calgaryherald/news/calgarybusiness/story.html?id=7a5d27be-deb8-441f-9592-911b4dafe940
http://www.theglobeandmail.com/servlet/story/LAC.20080521.RSUPERIOR21/TPStory/Business
Unlike rival proposals, the Liberty project seeks to reduce regulatory and local opposition as it doesn't involve the construction of large regasification or storage facilities either onshore or offshore. Instead, it will consist of an offshore turret system, whereby the LNG is converted from a liquid into gas onboard tankers, and then transported ashore by pipeline.
The unusual design reduces the amount of infrastructure, limiting the project's environmental footprint and putting Liberty in a strong position to compete against rival developments, said Excalibur chief executive officer Roger Whelan.
"We've gone about [Liberty] very differently," he said in an interview. "This will be a popular project in New Jersey."
Excalibur expects to seek regulatory approval for Liberty next year, with the aim being to deliver up to 2.4 billion cubic feet a day of gas by late 2011.
Here's the same new article from Bloomberg now from the Caribbean Net News also.
http://www.caribbeannetnews.com/news-7975--17-17--.html
Well, it looks like here's another first for Investor's Hub, from Bloomberg.
http://www.bloomberg.com/apps/news?pid=20601082&sid=aQsl0W3kXs28&refer=canada
And to keep all recent articles here is the third of the day now listed at Yahoo! headlines for SNG, from eariier this evening, on this event.
http://biz.yahoo.com/ap/080520/nj_natural_gas_pipeline.html?.v=1
Here's informatin on the political spectrum of this project.
http://www.cpanj.com/index-3b.html
Here is the latest press release this morning.
http://biz.yahoo.com/iw/080520/0398975.html
Folks, The Bounty Hunter has new information in. Here's the latest news on our joint venture. Note that the news says we may have the best team in the nation. As I notified this board of the news on Friday, here is the latest news release we expected. http://biz.yahoo.com/prnews/080520/nytu020.html?.v=101
Roger Whelan worked for British Gas in Trinidad and Tohttp://64.233.167.104/search?q=cache:kJMDUeZHHfcJ:www.whoswhotnt.com/companies/company.aspx%3Fcid%3D757+global+lng+roger+whelan&hl=en&ct=clnk&cd=7&gl=usbago.
Well, it's great to have the number one board on the web for Canadian Superior. We covered the BIG...EVENT FRIDAY of NEWS to come on LNG. And as a result you see the higher price of both Challenger and Canadian Superior today. This board is a haven for investors in Canadian Superior! Folks, we're heading for the highs of the day right now and we may hit some more all time highs very soon.
News and understanding is at this board. Here's an article that is important to our investments! It illustrates the true value of LNG terminals and the reason it is so important to pursue them.
http://www.galvestonlng.com/page136.htm
Uniquely positioned on the west coast of Canada Kitimat LNG’s regasification terminal provides LNG suppliers with access to the vast natural gas markets of North America.
Located on a natural deep water port, the terminal can receive the QMAX ships 365 days per year and will have a send-out capacity of 1 bcf/day.
Providing access to existing pipelines, the Kitimat location is a superior entry point on the west coast of North America. LNG supply entering the Kitimat terminal will supplement Western Canada’s sharply declining natural gas supply, along with accessing the largest growth market in North America – the Canadian oil sands. Kitimat LNG provides an excellent option for diversion of cargoes into the strong peaking markets of Asia.
The Kitimat LNG Terminal is the only fully permitted regasification terminal on the west coast of Canada and the US. This provides a terminal use holder with a significant first mover advantage and reduced regulatory risk.
http://www.energycurrent.com/index.php?id=2&storyid=10572
Great post dhedges. Look at the above link for the latest Challenger news. It's very similar to what has been posted already but there's the buzz on May 14. I am only posting it here as the folks at investorvillage need to visit our site for the most comprehensive coverage of these stocks!
CHECK BOTTOM OF IBOX!!!!!!!
IF 1 TCF IS REPORTED FROM BOUNTY - THAT EQUALS 3 TCF (READ IBOX!!!!)
Nice! Thanks for posting. Got to think some of that will be with SNG. Right place at the right time...big $$$ partner to operate 5c after the three wells. I'm sure much more to come!
Please see the below link on the Dolphin field.
http://www.newsday.co.tt/business/0,76175.html
Check out ibox for adjusted fair market value for sng based on higher sustainable nat. gas prices, where minimum Intrinsic Value is displayed...hint-> $44.1 pps minimum
*update On Encore Action right now!
The Bounty - A retelling of the mutiny against the brutal Capt. Bligh! 1984, Mel Gibson (F. Christian), Anthony Hopkins (William Bligh), Enjoy!
Captain Bligh is making them dance! LOL!
I am lQQking for the link about the Dolphin/Dolphin Deep reserves being increased each year, to add to the Ibox - does anyone have it? Thanks!
Great to have you as well Bounty Hunter!
Great to have you dhedges! Your insight/wisdom will be greatly appreciated! I am adding you as a moderator as well!
TGD
This company is poised to make a breakthrough. Here is the latest earnings report hot off the wire.
http://biz.yahoo.com/iw/080514/0397432.html
Please note the following just spoken by our CEO, Craig McKenzie, former President of British Gas in Trinidad; and who has worked with Lord Browne of BP:
Speaking today, Craig McKenzie, Canadian Superior's Chief Executive Officer, said "Our corporate objective is to remain focused on adding shareholder value with high impact offshore exploration in Trinidad, combined with growing cash flow from Western Canada. We are pleased to report that in the First Quarter of 2008 our average daily production, oil and gas revenues and cash flow from operations have all increased over the same period in 2007. We expect for the remainder of this year will be very exciting and rewarding for Canadian Superior shareholders."
Sure looks like Greg/SNG are getting this done at just about the perfect time after all...seems the delays weren't all that bad given the increased prices they are likely to receive for all that gas!
So, this is I-Hub. Interesting. And, my buddy the "Dane" is moderator. Great!!
Here's an LNG article I came across over at the "other" board that SNG investors will like.
http://www.latinpetroleum.com/new/newsdetail.php?cid=26&art_id=3487&content=F&aid=3487
Thanks! Most of the people at the Investorvillage board are bitter and don't know how to have fun, and they even threaten people - they must be stressed out - they report abuse on the innocent people. And, then the owners of IV, are backwards people, they ban people who own shares and are excited about the company, and then they allow people (like sayheyno) who lost all of his money on Mariner to literally bash the company for years - what a bunch of losers over there!
p.s. CHECK OUT THE IBOX - YOU WON'T BELIEVE WHAT YOU R ABOUT TO READ ON THE MG BLOCK!!!!!!!!!!!
GODSPEED!
THE GREAT DANE
Very nice job with this! Been into SNG for quite awhile but dropped off this board due to the lack of interest. Board mark added and hope to see some more folks come on board for the ride. Many years ago got to fly out to a drilling ship with my dad and that memory just makes this all the more exciting. The 5 well program has a great chance of hitting 100%, and if they do...wow! BG will operate 5c after the third well so tie-in and production should be sooner rather than later. $$$
Also, I must point out:
If you like more risk, but much more reward - check out CHQ, which is drilling with SNG & BG:
CHQ pays 33.3% of costs for 25% interest, but CHQ has much less shares outstanding.
Greetings and Salutations!
After the end of the 2nd quarter 2007 the Corporation received an exploration
and development license from the Governement of Trinidad and Tobago on the
Mayaro-Guayaguayare block (MG Block) and as a result is committed to drill two
exploration wells on the block in a joint venture with the Petroleum Company of
Trinidad and Tobago Limited ("Petrotrin"). The first well has to be drilled to a
depth of 3,000 meters by January 2010 and the second to a depth of 1,800 meters
by July 2010. The corporation estimates that its share of the cost of these
wells to be in the range of $15.0 million per well,
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Canadian Superior Energy Inc.
Investor Relations
(403) 294-1411
(403) 216-2374 (FAX)
Website: http://www.cansup.com
Canadian Superior Energy Inc.
Suite 2700, 605 - 5th Avenue S.W.
Calgary, Alberta
Canada T2P 3H5
Reknown oilpatch veteran Clay Riddell is making a big investment in Canadian Superior Energy Inc. (TSX:SNG), a Calgary-based natural gas producer that has seen a great deal of upheaval in the past year.
"I´m excited about their project in Trinidad," said Riddell in an interview, referring to an offshore block believed to contain between three and five trillion cubic feet of natural gas.
When asked what about the offshore Trinidad natural gas field piqued his interest, Riddell said bluntly: "It´s big."
A long-time investor in Canadian Superior, Riddell had been following the evolution of exploration Block 5 (c), in which Canadian Superior used to have a controlling stake.
After a series of developments over the past year _ including a dispute with one joint venture partner and the takeover of another _Canadian Superior now has a 25 per cent interest in the field, which is believed to contain between three and five trillion cubic feet of natural gas.
Canadian Superior said Friday it plans to raise up to $50 million through a non-brokered private placement issue of up to 96.2 million common shares. The company said it will issue the stock at 52 cents each.
Shares in the company soared 15.7 per cent to 59 cents on the Toronto Stock Exchange on Friday.
The financing is slated to close Jan. 14, and the money raised will be used for exploration and development and for general corporate purposes.
Treherne Resources Ltd., a private company controlled by Riddell, has subscribed for $20 million of that private placement.
Riddell, or someone else from Treherne, was offered a spot on Canadian Superior´s board, which was overhauled at the behest of a major shareholder in September.
"I´ll have such a large interest in the company and I´d like to participate in how it goes forward," Riddell said.
The Riddell name is well known in Alberta´s oil and gas industry.
A geologist by trade, Riddell founded Paramount Resources Ltd. in 1974, which has since been spun off into different firms.
His daughter Sue Riddell Rose runs Paramount Energy Trust (TSX:PET.UN) and his son Jim Riddell is chief utive of Trilogy Energy Trust (TSX:TET.UN).
He is also the chairman and chief utive of another company he founded, Arctic natural gas explorer MGM Energy Corp. (TSX:MGX).
In February, a partner in the Trinidad block, U.K.-based BG Group, persuaded an Alberta judge to put Canadian Superior´s stake under the control of a receiver.
BG had feared final testing and completion of a well would not be completed, given the financial problems of Canadian Superior and a third partner in the project, Challenger Energy Corp.
A month later, Canadian Superior and Challenger both filed for protection from creditors under the Companies´ Creditors Arrangement Act.
In May, Canadian Superior sold its 45 per cent stake in the Trinidad field for US$142.5 million to BG Group.
And then in June, Canadian Superior agreed to merge with Challenger in a friendly deal worth $77.8 million.
Canadian Superior explores for and produces oil and natural gas and is developing a liquefied natural gas project.
In addition to its venture in Trinidad and Tobago, Canadian Superior is also active in Western Canada, North Africa, off Eastern Canada and the United States.
Read more: http://www.oilweek.com/news.asp?ID=25666#ixzz0aCZmzsQU
Link - http://www.docstoc.com/docs/document-preview.aspx?doc_id=19896609
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