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No civelli lovers on here anymore/ No post in a long time. everyone over on stbr?
My guess is they will try to revive this when the warrants are due...if not then this company flat lined pretty quick...
Why is HEN$ up today? If they choose to drill, They shud still be in partnership with claren rt?
http://www.senexenergy.com.au/wp-content/uploads/2017/03/Monthly-Drilling-Report-February-2017.pdf
If the hoplite well turns out to be successful, there could be some hope in the future.
The Sparta well had no commercially viable oil. But, the hoplite well sounds successful. Let's wait for the DST Results.
Btw, is the hoplite well the closest to PEL 444?
Have you heard anything about senex's successful well in pel 182 nearby using shared seismic that henc has? I w just got a call about it? E mail me. Jack
Wonder when these guys will move on the blue ray prospect. Not that I'm expecting much. But I still want to see what they have planned next
I'm afraid I have to agree with you Gamood given my personal experience with the fellow.
``Dryhole Henry strikes out again. `` So true, but does it really matter and does he really care. Dry well, profitable gas well, it is all the same to him. He still collects the big buck salary!! This company is such a scam!
I'm trying to be positive here...as I said before we are here to make some good on our investments. I don't want to sound like I'm pumping. I'm trying to see the good here. .but I will accept an alternative arguments.
My guess is this will be back at 15 with a little buying pressure. Just need a positive update.
Overall..if it's good or bad i don't know. But it will move around....
Do you think it's a knee jerk reaction or is this just a bad investment?
So far the track record speaks for itself.
Appears the knee jerk dumping reaction is done...for now
Warrants come and go. I should know I had them. Dryhole Henry strikes out again.
My guess with the financing shares coming off in April they should try to move it at least once....unless they will never want to convert those warrants
Sorry, I didn't want to be correct! Just that present management doesn't seem to do anything that promotes shareholder value!! I say kick these bums out! Finally! They grab a huge payroll and shuffle around the world in hopeless pursuits! What's next? Botswana? Liberia?
Yes sir...you were....crappy news.
Sell of should be done in a couple of days. I expect a pr soon to do damage control.
Guess I as correct! "none of the perforated zones flowed commercial quantities of gas" Yeah!
Claren Energy Provides Corporate Update
TORONTO, ONTARIO--(Marketwired - Feb. 21, 2017) - Claren Energy Corp. ("Claren" or the "Company") (TSX VENTURE:CEN) is pleased to provide a corporate update to shareholders. Claren has completed its wellsite operations on the Bobocu 310 side-track well, onshore Romania.
The Company completed cased-hole well tests on the Lobe G and Corcova sandstone reservoirs and also tested Lobe H above Lobe G. The cased-hole wireline logging program provided further insight into selecting prospective reservoir units to be tested, and showed gas saturations between 30% to 40%. Unfortunately, upon testing, none of the perforated zones flowed commercial quantities of gas, instead producing gas saturated water and sand. The tests did however confirm the validity of the exploration model which is primarily based on the detection of gas on seismic data as a DHI ("Direct Hydrocarbon Indicator"). As predicted by the seismic data, gas sands were found at the anticipated depth, but gas saturations were below the Company's expectations.
This is the completion of Phase I of the proposed work program, in which Phase II includes the drilling of a second well, the Blueray prospect. Although the well tests did not indicate commercial gas quantities at the drilled location this will not change our positive assessment of the Bobocu gas field. Within the Bobocu gas field, "Well 70" historically produced 2 Bcf of gas, and "Well 73" tested 2.5 MMcf per day of gas from the Blueray prospect.
"We will study the results of this well and update our reservoir model with respect to the sand and water mobility characteristics specific to this field. Our seismic data will be re-calibrated for reservoirs with variable gas saturation. In addition, Claren plans to re-enter 2 existing wells that produced from the Blueray prospect and run cased-hole logs to confirm the presence of gas "behind-pipe". This will largely de-risk the drilling of the much larger Blueray prospect which will allow us to earn an additional 40% of the concession," stated Henry Aldorf, Claren's Chairman and CEO.
Claren is continuing to build a diverse portfolio of low-cost, high-margin international oil and gas assets, and is aggressively pursuing the acquisition of near-term producing assets. The Company is also engaging potential partners to share the financial and technical risk on PEL 112 and PEL 444 in the Cooper Eromanga Basin, in South Australia.
About Claren Energy Corp.
Claren Energy Corp. is an oil and gas company that has the right to acquire up to an eighty percent (80%) participating interest in the Bobocu License, onshore Romania. Claren also has a 51.49% working interest in two onshore petroleum exploration licenses ("PELs"), being PEL 112 and PEL 444, including a 1.47% gross overriding royalty interest on the PELs, located on the western flank of the Cooper Eromanga Basin in the State of South Australia, Australia. Its common shares trade on the TSX Venture Exchange under the symbol "CEN".
This news release contains forward-looking information relating to Claren's intentions to conduct the drilling programs and other statements that are not historical facts. Such forward-looking information is subject to important risks and uncertainties that could cause actual results to differ materially from what is currently expected, for example: risks related to oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, competition from other producers, inability to retain drilling rigs and other services, reliance on key personnel, and insurance risks. Although the present drill program has encountered the presence of gas, it does not necessary indicate that Claren will be successful in its drilling programs. Findings by other oil and gas issuers does not necessarily indicate that Claren will be successful in making such findings in Australia and Romania. In making such forward- looking statements, Claren has relied upon certain assumptions relating to geological settings, commodity prices, the stability of markets and currencies and the availability of capital to Claren in order to continue with the seismic and drilling programs. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Claren may elect to, Claren is under no obligation and does not undertake to update this information at any particular time, except as required by applicable securities law. 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 release.
Claren Energy Corp.
Mark Lawson
+1 647 775 8552
mark@clarenenergy.com
Claren Energy Corp.
Investor Relations
I'm still here...but yes a crappy day here
Down 37.5% on the Canadian exchange. I guess another win for the company :(
Non-commercial supply of gas and those in the know are selling out!
9
Out of 5 lobes, won't u think even if the test was positive for one, the buying would have been tremendous?
On the other hand , there was less selling. Can this mean that r waiting for atleast one to show commercial gas?
What ever, the wait should be over by end of this month.
Maybe it's borderline and they know what will happen if they don't proceed. Regardless the data should be valuable for the next hole.
My guess is 5 lobes takes a lot longer to test than 2 lobes. But then what do I know. I'm just waiting on an update like everyone else.
Does anyone think no news is good news?
its .2 there at cen....
Yeah there is nice volume on both exchanges today. I'm guessing on anticipation of news.
Holding nicely here...
looks good this time...remember last time ones were selling before results known? but this time seems there is buying
Come on guys, give us an update: it's 3 weeks since the last one so surely that's time enough for all relevant tests...
They will be closed on the 20th...hopefully some news before then.
Sorry again that's the TMX
My mistake however according to this chart it's close on the 20th for Family Day
http://www.tmxmoney.com/en/investor_tools/market_hours.html
Looks like nothing today. No trades No News.
Try again tomorrow.
There is no stat holiday in Canada today! Next Monday, Feb 20 is Family Day in Ontario.
The Canadian exchange is close for a Stat holiday.
No news yet, no trades on either exchange.
They sure know how to keep us in suspense...
Thanks for the link...Still hardly any volume on them. I think one or two of them bought up 6 million units in the financing in December. Volume they have disposed in the market is virtually nothing...
But yes, its good to note. To get a full pic of whats going on....appreciate the link.
Glad to have you on board AC. Here's a link you might be interested in if you aren't already familiar with it.
https://www.canadianinsider.com/company?menu_tickersearch=CEN%20%7C%20Claren%20Energy
Nice end of day buying on the TSX....125k closing at 21 cents.
Fingers crossed and next week we get some news....
This is my first time investing in this stock. Story seems good. I have made other investments in Romania before. Your right it will sink like an anchor on a dry well.
Maybe I am dreaming or being to optimistic. I get the feeling it will be OK. If we get a delay past next week then I will be not thinking so positive.
As to why I was happy to see trades...it's cause this thing never trades. So I was happy to see movement in volume. I worry though with this volume as you mentioned, how are we gonna get new money in.
They need to release these result and if positive should go on a road show and promote the company. They have money for blue ray prospect and conversions of the warrants will get them another well. So 3 wells seem paid for if the price moves. So far everything looks positive.
I am aware the real deal is saying if they hit the reservoir and it's Comercial capability.
Time will tell.
Does it really matter what happens before the announcement. It's simply this stock will sink like an anchor if there's a dry hole as will the credibility of management once again. Speculation about what will happen if it's economically viable is also merely that. An obscure stock like this is usually supported by it's original investors who will do most of the buying and bolster in upturn. That's people like you and I. The question is do we have enough confidence in current management to buy more. Where do you expect new money to come from?
ok,right direction!
About 35k of shares at 18cents
Not trying to promote or disagree with your thoughts,
but this well and field has produced, I believe on two separate occasions. It is possible that Zeta didnt hit the reservoir or didnt use the same technology that claren is using to find the reservoir. Zeta's news is over 4 or 5 yrs old.
Only time will tell....I can only assume better DD and better digging technology is being used now. If not, then we will find out soon enough. If Calren hits, then only knows how many wells they can work on. This is the guinea pig of wells, if they hit...we maybe on to something big.
Lets wait and see...exciting times ahead...hopefully.
ZETA DISAPPOINTED AT BOBOCU-310 WELL
Zeta Petroleum has today announced that it has suspended drilling on its Bobocu-310 well in Romania after failing to yield any commercial gas.
Zeta, which had begun drilling on the Bobocu field after testing showed the field still had large potential reserves, said that initial testing of the well did not indicate any commercial gas, despite the well having encountered multiple gas shows during drilling. Wireline logs had also indicated the presence of gas bearing reservoirs.
WHY IS CLAREN DRILLING THE SAME? IT SHOWED GAS, BUT IT IS NOT COMMERCIAL.
how much volume? and what did it close at
Next week it is. Atleast we got some volume on the Tsx
Not today. I'm guessing this will be next week. Friday is pointless to p.r anything...so nothing by tomorrow am we move to next week...
Probably....I'm getting that feeling. If we don't get anything today...then maybe next week...
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Claren Energy:
Internationally focused oil and gas company with assets in
Romania and Australia.
Share Structure:
Management mostly comes from PacLNG, a group build around the current CEO and senior advisor Carlo Civelli. Their last company was sold for 900 million dollars. Carlo Civelli has a history of developing junior resource companies into billion dollar companies or selling them to the highest bidder. A recent interview with him - in which he also discusses Terrra Nova Energy (before it was renamed to Claren Energy)- can be found here:
Company website:
Company Investor Presentation (always contains the latest information so a very good resource):
http://clarenenergy.com/investors/
Gas Resources:
On September 1st 2016, Claren Energy Corp. entered into an agreement to earn up to an 80% interest in the Bobocu Gas Field, onshore Romania
• Transaction represents strategy to focus on lower-risk / lower-cost exploration & development and conversion of resources to reserves
• Bobocu is ~ 6,200 net acres in size and a proven gas resource with 33 Bcf already produced: license in good standing until Jan 2028
• Claren has identified 127 Bcf of OGIP and believes there remains significant recoverable resource with application of “modern” drilling techniques
Gas was found when the Bobocu 310 well was drilled in january 2017 !
Oil Resources:
The company currently owns 51.50% of 2 onshore blocks on the western flank of the Cooper/Eromanga Basins: PEL 112 and PEL 444.
2,252 SQ KM or 556,473 acres
PEL 112 1,086 sq km (268k acres)
PEL 444 1,166 sq km (288k acres)
UNDER EXPLORED
only 6% of PEL 112 and PEL 44 have been shot with 3D
seismic as of yet leaving a substantial exploration upside.
(Cost per barrel is around 20$ - 28$ as confirmed by the CEO)
The oil found in the Cooper basin is light sweet crude which receives Premium pricing (10% to 15% higher then the market price for international Brent oil).
Other owners of the properties are:
Holloman Energy (ticker HENC) 48.50%
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