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Good morning Anatolia Energy Corp.(fka BEEHF) ()
BEEHF: Plan of Arrangement; Each Anatolia shareholder will receive Cub shares in exchange for the Anatolia shares held on the basis of 0.106 Cub share for each Anatolia share held
http://www.otcbb.com/asp/dailylist_detail.asp?d=06/28/2013&mkt_ctg=NON-OTCBB
SE, if approve the Turkey guys are going to playing in the same sandbox as the Ukraine guys.
I hope they retain the directors from Beehf when merges, becomes TPNEF.
Looks like we are now going to be Cub Energy. The company that trades on V and drills in the Ukraine.
The board of directors look like champs, that's my signal to participate in high risk foreign penny, and take a whirl. These guys have 20-30 yrs exp each w large companies.
Hope for the best.
I remain bullish on this company..
Buy, Buy, Buy !!!! LOL!
Ok, but "right" to what, buy or sell?
LOL!!!!
Greetings my friend!!!
Thanks! That is some great info!
This may be worth the risk. If they hit oil which they have a high probabilty of since their are very good active wells only 47 kilometers away. This company controls a very large amount of acreage. I may start accumulating some shares in this play. Goodfind!
Anatolia Energy Upgraded to Strong Buy as the Search for Oil in Turkey Heightens
AEE.V CURRENT PRICE: $0.055
AEE.V TARGET PRICE: $0.90
UPSIDE POTENTIAL: 1,536%
SHARES OUTSTANDING: 131,058,930
January 31, 2013 - Calgary, Alberta - Anatolia Energy Corp. (TSXV:AEE) has been upgraded to a strong buy thanks to its prospective oil and gas assets in Turkey, large oil discoveries in very close proximity to some of those assets, key strategic relationships within the country and strong cash position. The company has net cash of over $5M and $1.5M in inventory as of September 30, 2012 which compares very favourably to their market cap of $7.2M, providing investors with the security that the company has very little downside from its current stock price.
To understand the importance of AEE's assets, one must understand the sudden rise in interest in developing oil and gas in Turkey along with AEE's role within that initiative. Referring to the article Financial Press: Right Time, Right Place comes the following excerpt:
"With one of the fastest-growing economies in the world, Turkey is determined to become self-sufficient in oil and gas by 2023 and is drafting new laws to spur exploration.
Turkey currently imports a staggering 92 percent of its domestic oil needs and 98 percent of its natural gas. Average daily oil production of 44,000 barrels meets only eight percent of overall consumption needs and the cost of its energy imports is putting severe restraints on its economic ambitions.
"Our aim is to make Turkey one of the 10 largest economies in the world by 2023," Energy Minister Taner Yildiz recently told Bloomberg News. "Finding energy," he said, would "enable Turkey to achieve its goal."
The incentives of a stable political regime, rich resource prospects and generous terms are now luring some of the biggest international oil companies, including Shell, which has recently committed to a multi-million drilling program, and Exxon, which is reportedly close to signing a joint venture with TPAO (Turkish Petroleum Corporation) .
The Shell prospects are just a stone's throw away from those of Anatolia Energy, which has a joint venture agreement with Calik Enerji, a highly experienced Turkish company with a proven exploration team.
It's long been suspected that Turkey's Anatolia Basin, composed largely of Silurian Dadas shale, is a potentially huge source of hydrocarbons. But it's only within the past decade that new technology has made possible the efficient extraction of such resources."
Not only is there a desire to drill in Turkey, there has recently been a discovery of reserves of high quality oil in the Magrip field in the Turkish province of Siirt Kurtalan, which is located in the Anatolia region. The picture below shows the location of Anatolia's assets and their close proximity to this discovery. The Sinan Project is located right on the doorstep of the discovery, with the Bismil Project also located very close by in the same province. When referring to the map below note the location of "Batman" right beside Sinan to gain a point of reference.
Now refer to the image below of the map of the Magrip region where the discovery was made. Note the central point and the how the roadway leading into Batman is just south of it.
This confirms that AEE's Sinan Project is located extremely close to the Magrip discovery. As most Canadian investors are unfamiliar with granular Turkish geography it is not surprising that this extremely important development has not had a large effect on AEE's stock price just yet. The Magrip discovery is well-timed because the company recently announced Spudding of their Giremir-1 Well on the Sinan Licence in Turkey. Their 50% joint venture partner Calik will be drilling the initial exploration well on the Sinan Licence to a depth of 1,250 meters and results should be known within a few weeks. From the news release:
"Giremir-1 is expected to be drilled to a depth of approximately 1,250 meters for a total cost of US$1.4 million. The deepest horizon to be drilled will be the Upper Sinan Formation. Although its hydrocarbon potential is unknown in this area, the Paleocene age reservoir produces oil in 5 fields in southeastern Turkey; most notably at the Selmo Field which is located approximately 47 kilometres northeast of the Giremir well."
The bonus to Calik funding the initial well is that AEE ends up with a potentially hugely positive news event in a short time frame without an outlay of its own cash. Should they find hydrocarbons in the region, expect the stock price to rise even faster than it did in early May 2012 when it raced from as low as 12 cents on April 23 to a high of 33 cents on May 7 after the company announced their Dadas Shale core results.
With the current robust state of Turkey's oil and gas exploration, it is no surprise that larger oil and gas firms like Shell have renewed interest in the area. They just started their Shale Gas exploration program in Southeast Turkey in September, close to several of AEE's assets. This heightened interest in Turkish shale gas assets certainly makes AEE a strong target for a takeover given their early success with Dadas and the findings in the Magrip region. Reviewing Anatolia's corporate presentation shows how close Exxon and Shell's projects are to AEE's property.
Another key driver for Anatolia's future success is the extremely favourable economic conditions for oil and gas exploration in Turkey. They will get Brent Crude prices for their oil and are subject to only a 12.5% government royalty and 20% corporate tax rate meaning margins inclusive of operating and transportation costs should be in the 55-60% range as estimated in their presentation.
Based on the news of the discovery in Magrip, large oil and gas player interest right on AEE's doorstep, their results from Dadas and the favourable economic environment in which they operate, AEE makes a very attractive investment both in the short term and long term for investors interested in oil and gas exploration plays. TSX News initiates a strong buy on AEE with a target of 90 cents.
Click here for further reading on Turkey’s Oil Potential: Onshore and Offshore
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http://tsxnews.blogspot.ca/2013/01/anatolia-energy-upgraded-to-strong-buy.html
Jan 30, 2013 (ACCESSWIRE-TNW via COMTEX) -- That's Tim Marchant's take on his company's encouraging shale oil play in southeastern Turkey.
Marchant, executive chairman of junior explorer Anatolia Energy , is a veteran oil executive with 30 years' experience in global exploration, development and production.
In his last job, as Vice-President of BP International, he oversaw projects in nine Middle Eastern countries. Few Canadians have his extensive knowledge of the region's potential for hydrocarbons.
And, in Marchant's considered opinion, Turkey is hot.
With one of the fastest-growing economies in the world, Turkey is determined to become self-sufficient in oil and gas by 2023 and is drafting new laws to spur exploration.
Turkey currently imports a staggering 92 percent of its domestic oil needs and 98 percent of its natural gas. Average daily oil production of 44,000 barrels meets only eight percent of overall consumption needs and the cost of its energy imports is putting severe restraints on its economic ambitions.
"Our aim is to make Turkey one of the 10 largest economies in the world by 2023," Energy Minister Taner Yildiz recently told Bloomberg News. "Finding energy," he said, would "enable Turkey to achieve its goal."
The incentives of a stable political regime, rich resource prospects and generous terms are now luring some of the biggest international oil companies, including Shell, which has recently committed to a multi-million drilling program, and Exxon, which is reportedly close to signing a joint venture with TPAO (Turkish Petroleum Corporation) .
The Shell prospects are just a stone's throw away from those of Anatolia Energy, which has a joint venture agreement with Calik Enerji, a highly experienced Turkish company with a proven exploration team.
It's long been suspected that Turkey's Anatolia Basin, composed largely of Silurian Dadas shale, is a potentially huge source of hydrocarbons. But it's only within the past decade that new technology has made possible the efficient extraction of such resources.
Newly developed techniques of fracture stimulation, now in everyday use in North America, have "fundamentally changed" the nature of the game, says Marchant.
Anatolia, which has scoured the world for conventional and unconventional oil and gas assets, was among the first international explorer to renew an interest in Turkey. It has identified four major exploration trends, including the Silurian Dadas shale oil trend, over its licences and has identified 21 prospects.
The company's focus at present is on its Bismil and Sinan Licences. Drilling at the Giremir-1 well, its initial exploration on the Sinan Licence, began in mid January.
Meanwhile, the company is gearing up for fracture stimulation tests of the Silurian Dadas Shale on the Bismil Licence. The tests are due to be carried out this year with the aim of flowing hydrocarbons from the shale.
Marchant anticipates strong results. Core samples of the shale taken last summer and analyzed by an independent third party back in Calgary "determined that this is a potentially very rich shale oil deposit," he says.
The assessment, by resource evaluator Ryder Scott, assigned a P50 gross best estimate of 94 million barrels (47 MMBbl net) of recoverable oil in the company's Dadas Shale prospective acreage in the Bismil and Sinan Licences — a substantial increase over a previous resource report.
Marchant says the estimates are "pretty conservative," based on a potential recovery rate of only three-and-a-half percent, compared to a norm of between six and 10 percent in North America,
Bob Spring, Chief Executive Officer of Anatolia, says the Ryder Scott report "provides further validation of the significant Dadas Shale potential on our Turkish licences. We continue to be excited with the prospectivity of the Dadas Shale and we will remain focused on further advancing the development of this resource."
As Anatolia prepares for its fracture stimulation tests, it has been hugely encouraged by the success of another company active in the Basin, TransAtlantic Petroleum Ltd.
Marchant says TransAtlantic has proven that the fracture stimulation technique works effectively in the Basin, stimulating the output of good quality light crude oil from both the overlying and underlying sandstone.
"What TransAtlantic has shown is that by drilling horizontally into the sandstone, and doing the same fracture stimulation test, they got better results than just doing a normal vertical well. The technique works on both formations.
"What this means is that the geologic concept that we were testing has been proved up," says Marchant. "That's very encouraging for Anatolia. It really feels like this whole play is coming together."
Assuming that Anatolia's own initial fracture stimulation tests are successful, Marchant says the next step is "full field development, which would involve drilling a number of horizontal wells — long horizontal sections — and then fracture stimulating those sections, the way things are now developed in western Canada, for example."
He says Anatolia has sufficient funds to keep going through 2013, but that the long-term development of the shale prospects would require "a strategic decision a few years down the line. It obviously will require significant capital expenditures.
"We would look at a number of possibilities," he says. "For the moment, we are very much focused on proving up what we believe to be a very large and significant resource for Turkey."
Legal Disclaimer/Disclosure: A fee has been paid for the production and distribution of this Report. This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this article should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. Financial Press makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of the author's only and are subject to change without notice. Financial Press assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this article and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this article.
Copyright 2013 ACCESSWIRE-TNW
http://www.marketwatch.com/story/financial-press-right-time-right-place-2013-01-30
This offers exposure to a highly leveraged oil play. I like what I see.
The Dadas Shale has similar qualities to several of the shale plays in the US.
1.16 million acres in the Dadas Shale. So the land package is large.
This is a company that has some potential.
Anatolia Energy Announces Spudding of the Giremir-1 Well on the Sinan Licence in Turkey
CALGARY, Jan. 15, 2013 /CNW/ - Anatolia Energy Corp. (the "Company") (TSX-V: AEE) is pleased to announce that its partner, Çalik Enerji San. ve Tic. AS. ("Calik"), has commenced drilling at Giremir-1, the initial exploration well on the Sinan Licence in Turkey, where Anatolia can earn a 50% interest.
The Giremir-1 commitment well will satisfy the drilling requirements on the Sinan Licence pursuant to its Joint Venture agreement with Calik and as required by the General Directorate of Petroleum Affairs ("GDPA"), Turkey's energy regulatory body. Drilling of Giremir-1 satisfies the work commitment of the Sinan Licence during its initial four year exploration period and satisfies the district drilling obligation which includes the Bismil Licences.
Giremir-1 is expected to be drilled to a depth of approximately 1,250 meters for a total cost of US$1.4 million. The deepest horizon to be drilled will be the Upper Sinan Formation. Although its hydrocarbon potential is unknown in this area, the Paleocene age reservoir produces oil in 5 fields in southeastern Turkey; most notably at the Selmo Field which is located approximately 47 kilometres northeast of the Giremir well.
The Sinan and Bismil Licences encompass 17,833 (8,917 net) and 245,699 gross (122,850 net) acres, respectively, and are well-located within the Dadas Shale Oil trend as well as the Cretaceous and Ordovician conventional oil plays. Activity focused on the Dadas Shale continues to gain momentum with numerous drilling and testing operations currently on-going in the area, including the drilling of the first well of the Shell and Turkish Petroleum ("TPAO") joint venture approximately 20 km from the Company's Sinan Licence border. Under the terms of the TPAO-Shell agreement announced in November 2011, Shell is expected to drill five wells into the Dadas Shale formation.
Upcoming Dadas Shale Activity
Anatolia continues to work towards the optimal design of a fracture stimulation test of the Silurian Dadas Shale on the Bismil Licence. The tests are due to be carried out in 2013 with the aim of flowing hydrocarbons from the shale. A large volume of physical and geochemical data extracted from the shale cores has led management to anticipate a positive fracture response from the shale. The Bismil and Sinan Licences in Turkey provide the Company with exposure to 263,532 gross acres (131,766 net) of Dadas Shale and/or conventional oil prospective acreage. The Company's independent third party resource evaluator, Ryder Scott, has allocated 94 MMBbls (47 MMBbls net) of unrisked prospective resources related to the Dadas Shale on the Bismil and Sinan Licences (June 11, 2012 news release).
Amending JV Terms
The Company and Calik recently amended the Joint Venture agreement for Sinan, Antep and Besni such that the final payment to trust of $6.5 million due March 31, 2013 has been extended to August 1, 2013 to better reflect the timing of the respective work programs. In addition, the parties agreed to amend the JV Supplemental agreement with an option to earn an additional 25% at Bismil (Dadas Shale) such that the payments to trust have been amended to $1.5 million on August 1, 2013 and $10 million on March 31, 2014 to better reflect the timing of the respective work programs.
About Anatolia Energy Corp.
Anatolia is an international oil and gas company engaged in the exploration and development of oil and gas assets in Turkey. Anatolia has the right, pursuant to its joint venture agreements with Çalik Enerji San. ve Tic. AS., the wholly-owned oil and gas subsidiary of the large Turkish conglomerate Çalik Holding A.S., to earn working interests between 25% and 50% in two development licences and working interests of 50% in nine exploration licences covering 1,162,856 gross acres of land in Turkey's proven Southeastern oil basin. Anatolia is focused on four play types in Turkey namely the Silurian Dadas shale oil trend, Paleozoic Bedinan sand trend, Cretaceous Mardin strike slip trend and Garzan reef trend. The Dadas formation in southeast Turkey is an extension of the prolific Silurian source rocks of the Middle East.
Cautionary Statements
Prospective resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. There is no certainty that it will be commercially viable to produce any portion of the prospective resources.
Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to, information with respect to: ultimate economic viability of the Dadas Shale, operational decisions and the timing thereof, and timing for drilling and exploration plans on the properties of Anatolia. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect. Although Anatolia believes that the expectations reflected in such forward-looking information is reasonable, undue reliance should not be placed on forward-looking information because Anatolia can give no assurance that such expectations will prove to be correct. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. Anatolia undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. For further information on the Company and the risks associated with its business, please see the Company's AIF dated June 4, 2012, which is available on SEDAR. The reader is cautioned not to place undue reliance on this forward-looking information.
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.
SOURCE: Anatolia Energy Corp.
Peter Argiris, VP Business Development
Anatolia Energy Corp.
403.802.0770 ext. 225
Canada Newswire
January 15, 2013 - 1:38 PM EST
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