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Sawn Lake (Operated by Andora Energy Corporation, in which Pan Orient has a 71.8% ownership)
In March 2022, Andora entered into an agreement with a joint venture partner at Sawn Lake whereby Andora acquired certain assets and assumed certain liabilities at Sawn Lake. Through the transaction, Andora increased its working interest in the Sawn Lake joint venture to 75%.
The March 31, 2022 Contingent Bitumen Resources Report ("Resources Report"), a National Instrument 51-101 compliant resources evaluation for Andora's oil sands interests at Sawn Lake Alberta based on exploitation using Steam Assisted Gravity Drainage ("SAGD") as evaluated by Sproule Associates Limited, assigned unrisked "Best Estimate" contingent resources for Andora of 292.0 million barrels of bitumen recoverable (209.6 million barrels net to Pan Orient's 71.8% interest in Andora) and unrisked "Best Estimate" net present value, discounted at 15%, for Andora's interests of $192 million on an after-tax basis ($138 million net to Pan Orient's 71.8% interest in Andora). The Sawn Lake operations are currently suspended and awaiting restart and commercial expansion. Contingent resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by the application of development projects, but which are not currently considered to be commercially recoverable due to one or more contingencies. The contingent resources volumes estimated in the Resources Report are considered contingent until such time as there are additional delineation wells confirming reservoir quality and continuity, refinement of the commercial development plan, regulatory approval for full field development, corporate commitment to move forward and financing for commercial development. There is uncertainty that it will be commercially viable to produce any portion of the reported contingent resources volumes. Please refer to Pan Orient's press release of June 13, 2022 for additional information.
Western Canada Select reference prices for heavy oil remained strong in the second quarter of 2022. At August 8, 2022, the price for Western Canada Select was Cdn$91.34 per barrel and the forward market for Western Canada Select in 2024 was Cdn$79.13 per barrel. Andora is considering alternatives to restart the existing steam SAGD facility and wellpair at Sawn Lake and move the Sawn Lake project forward with minimum development costs to Andora, including partnership, farmout, sourcing additional funds, partial sale or outright sale, and achieve value for shareholders.
For the first half of 2022, Pan Orient reports total operating expenses of $171 thousand associated with the Sawn Lake suspended SAGD facility and wellpair.
If you look at DWOG, latest 10-K filed last year and go to Legal Proceeding section, you will find that Andora Energy filed complains against Northern Alberta Oil and DWOG. From what I see in the filing, the dispute had not yet been resolved.
I wonder how the restructure will affect these legal proceedings?
I am not understanding your statement (or question)? What "legal proceeding", are you speaking of?
Legal Proceedings -Thoughts about how the legal proceedings against DWOG will pan out after the restructure?
Legal Proceedings -Thoughts about how the legal proceedings against DWOG will pan out after the restructure?
The following IMHO is Pan Orient restructuring in preparation for expansion of the Swan lake test project for commercial production. https://www.panorient.ca/press-release/pan-orient-energy-corp-sale-to-dialog-group-berhad-and-transfer-of-non-thailand-business-to-new-company/
Here is a recent release from Pan Orient about the swan lake project that discusses plans for the JV property. https://ih.advfn.com/stock-market/TSXV/POE/stock-news/88349704/pan-orient-announces-march-31-2022-contingent-bit
I have, but no info. What ever they have cooking would be insider information, but I suspect there is somethong cooking.
have you ever tried to communicate with management again ?
thank you
No, DWOG is pretty much invisible right now. It has been that way before. The valuable assets are still there and it is free for them to remain in business, so they will not go away ( Their operating cost are paid by one of the partners)
DWOG
Deep Well Oil and Gas (CE)
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DWOG Detailed Quote
They don't talk about dwog..
Maybe also a takeover for us?
Take a look at my last post. JMHO, but I believe there will be something happening here very soon
Take a look at my last post. JMHO, but I believe there will be something happening here very soon
I find the following very interesting. Dont forget DWOG interest and operating costs are carried. Now company buying the project? This project is a proven low cost producer. It just needs the money behind it to expand already permitted expansion of production. Things could happen very quickly here.https://wwreleases/pan-oriw.newswire.ca/news-ent-energy-corp-sale-to-dialog-group-berhad-and-transfer-of-non-thailand-business-to-new-company-81280html6936.
Left for the Graveyard....
POE.V, Pan Orient Energy got some nice price action and volume this week while DWOG is looking more and more like it is left for dead!
Given various sanctions, I can imagine having, 49% owner of the equity (Youyou) located in Russia, can't help.
In my opinion, this is going to 0!
Oops, it's already at 0! Lol
Deep Well Oil and Ga (DWOG)
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I totally agree. T think in the next 60-90 days this is finally going to move again.
More info on Deep Well stake sale,
In March 2022, M&P finalised the sale of its 25% interest in the Sawn Lake project in Alberta to Andora Energy Corporation (“Andora”), which already owned 50% of the asset and is the operator. In consideration for a payment to Andora of $0.5 million, M&P has transferred all of its financial commitments pertaining to Sawn Lake, and particularly those related to site abandonment costs. M&P has also agreed to grant an exclusivity period to discuss the potential direct or indirect acquisition by Andora of M&P’s 19.57% stake in Deep Well oil & Gas, Inc., whose subsidiaries collectively hold a 25% participating interest in the Sawn Lake project.
Although the production pilot conducted between 2014 and 2016 provided encouraging technical results, development of the Sawn Lake project is not part of M&P’s strategy. Firstly, the economics of the project are adversely affected by local crude oil price dynamics, with substantial discounts relative to global crude benchmarks. Secondly, the project’s carbon intensity, particularly greenhouse gas emissions generated by the production of steam required for the oil recovery technique known as “SAGD” (steam-assisted gravity drainage), is incompatible with the Group’s investment criteria.
Maurel & Prom
I am a Pan Orient shareholder and see a deal coming together in the next month or so to get Sawn Lake back up and running. DWOG owns part of this project.
This is from M&P latest earnings release. GLTA
“” In Canada, M&P sold its 25% stake in the Sawn Lake project in March 2022 to its partner Andora, which already owned 50% of the asset and is the operator. M&P decided to exit Canada after concluding that development of the asset would not meet its economic and environmental criteria.””
Deep Well Oil and Ga (DWOG)
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Lol, if it is worthless give it to me. If they decide to sell it they will get a good price. They matched the best SOR in the country and have a lot of oil. I suspect they are in the process of raising money for the expansion and re-start. JMHO
Mr. Schmid is 88 years old. I am not sure how often he is checking email.
At moment, the market is pricing the shares as worthless - 0.0001 with Oil well over $100 barrel.
All of their costs of operation are being paid by their partner, so no reason to hurry. I suspect in due time the property will either be put back into production or sold at a good price. I did not call Horst, I did e-mail him but did not get a reply. I will try again.
Hi Mr, Shaw...any luck in getting Horst to return your call...one
would think the value of their assets has tremendously increased
with crude over or at $100....one would also think that management
has a fiduciary responsibility to shareholders to take some steps to
maximize the value of shareholder assets... thank you for your response.....
Deep Well Oil and Ga (DWOG)
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This is not the first time this has been left for dead. Last time I made a 9 bagger on it. As far as extraction costs, this would be viable at 50.00 a barrel. In the test plant they had an exceptional sor rate. Only one other project in Canada matched it. It will take some time to pay off, but they will either produce or somebody else will pick it up. JMHO
Good news - Bad news.
Good news... the price of oil should make the oil economically viable to extract.
Bad news... the company is affiliated with Russian ownership which is complicated right now.
Good news... the number to investor relations still works.
Bad news.. investor relations doesn't seem to return calls.
Bad news... the stock is trading for par value and there hasn't been a news release in years.
Good news.... despite all the bad news, I think the stock can surge by multiples with just 1 press release stating that they are restarting operations.
I left a message for Horst to see what I can find out.
Deep Well Oil and Ga (DWOG)
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I think we will hear something before too long. I suspect there is something going on behind the scenes. If not, we cant win them all.
Can someone call the ceo of this company and ask what the hell is going on
We have so much valuable land...
I am so disappointed
yes s.e.c. rulings 'Deep Well Oil & Gas (DWOG)'
happened 1999 & 2007-2008
Deep Well Oil and Ga (DWOG)
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Volume: 98,547 @12/29/21 9:33:39 AM EST
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DWOG Detailed Quote
s.e.c.-blame otcbb pinks , pinks wanted more doe re me. can't even claim worthless fer taxes by s.e.c. rulings.
Sell this company asap
Share price at 0.0001 $ what the hell!
Shame on you board members!!!
Deep Well Oil and Ga (DWOG)
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DID $DWOG FILE FER URRENT STATUS ?????
It should definitely be economic. It has one of the lowest an ISOR (steam to oil ratio) of 2.1 One of the lowest in the industry. This should be indicative of low cost of production. This is where they were at before the suspension of production.
$DWOG SEC Filings
FORM TYPE RECEIVED PERIOD END DATE REPORT
10-K 09/27/2021 09/30/2020 PDFRTFHTMLXLS
10-Q 09/27/2021 06/30/2020 PDFRTFHTMLXLS
10-Q 09/27/2021 03/31/2020 PDFRTFHTMLXLS
no i didn't thank you $dwog
re;
You guys must be aware that Pan Orient is selling their interest in thenSawn Lake Sagd operations. They will probably do some sale where DWOG gets involved in the restructure. i own POE and was just lookingnhere for info. At $75 oil this thing must be economic.
You guys must be aware that Pan Orient is selling their interest in thenSawn Lake Sagd operations. They will probably do some sale where DWOG gets involved in the restructure. i own POE and was just lookingnhere for info. At $75 oil this thing must be economic.
Deep Well Oil and Ga (DWOG)
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Unloading 30000 @ .03, any takers?
totally agree... i am happy that at least one other very smart investor is involved... will stay in touch as developments warrant
thank you again , stay safe and be well
As you are aware from looking at EDGAR, they are working at getting current on their filings. This would indicate to me that they have a reason to get current. For this reason I believe something positive in the works. JMHO
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For current share price access Yahoo! Finance
Common Shares
Trading Symbol: DWOG
(Deep Well trades on the OTC Marketplace)
Registrar and Transfer Agent
Manhattan Transfer Registrar Co.
3B Sheep Pasture Road
Port Jefferson, New York 11777
U.S.A.
Issued and Outstanding:
230.1 million as of December 31, 2020
Trading - US$ per share
December 31, 2020
52-week High/Low: $0.03 - $0.01
Suite 700
10150 - 100 Street NW
Edmonton, ALB T5J 0P6
Canada
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