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Didnt you say in a prior posts that the company is currently drilling one well? You should ask where that well is located the next time you speak with management. It could be either the Barnett where I think there is constant drilling or possibly the property in Chambers County, TX where the Acom A-6 is located.
It would be an extreme positive if the company were drilling in Chambers County, TX - it would indicate that the company is moving forward.
He's on the board of directors now I believe - I'm almost positive I read that somewhere.
From the Fagan Report:
Right nowIgnis Petroleum is placing the final touches on a pending agreement with industry behemoth Kerr-McGee (KMG - NYSE) whereby Ignis will participate in the drilling of the super high-potential ACOM A-6 prospect.
Ignis Petroleum (IGPG - OTCBB) repre-sents YOUR opportunity to be on the winning side of the current and expansive energy sector uptrend. Begin accumulating your strategic position in IGPG at current levels below $3 per share.
— Michael Fagan, Editor
Reserve estimates on this prospect are reported to be an incredible 9 BILLION cubic feet of natural gas. And, like the Barnett and North Wright properties, ACOM A-6 is surrounded by highly successful drilling campaigns.
One nearby blockbuster well, the Tex Miss, has produced over 3.4 BILLION cubic feet of gas in just 18 months of initial production. Kerr McGee/Ignis Petroleum are focusing on what is believed to be a continuance of this petroleum-bearing structure.
A positive strike on the ACOM A-6 would be an immediate “Company Maker” for Ignis Petroleum – one that would likely send the IGPG share-price exponentially higher.
Ignis Petroleum Group, Inc. Begins Oil & Gas Production at its Acom A-6 Well in Chambers County, Texas
Business Wire, Nov 17, 2005 E-mail Print Link DALLAS -- Ignis Petroleum Group, Inc. (OTCBB:IGPG) (the "Company") announced today that the "Acom A-6" well has begun its first oil and gas production. Product is now flowing to market, thus commencing first revenue for the Company. The Company has a 25% working interest in the well.
The Acom A-6 is a directional well, which encountered producible hydrocarbons in the Nodosaria sand formation at various levels between 9,818' to 9,910' measured depths (9,476' to 9,540' true vertical depth) in three zones. The first zone, which is currently producing, was perforated over a four-foot interval between 9,894' to 9,898' measured depth. Initial test results showed the well to be producing at flowing tube pressure of approximately 3,900 psi. The zone is currently producing at a daily average rate of 215 barrels of 36 degree API crude oil and 860 thousand cubic feet of natural gas through a 6/64" choke. Future re-completions are planned in the two additional zones with total perforations planned over 22 feet of measured depth.
More
Articles of Interest
Ignis Petroleum Group, Inc. Begins Oil & Gas Production at its Acom A-6...
Ignis Petroleum Group, Inc. Receives First Revenue.
Ignis Petroleum Group, Inc. Receives First Revenue
Where Theres Oil Theres More Oil.
Ignis Petroleum Group, Inc. Announces Gas Discovery at Prospect in Chambers... Related Results
Ignis Petroleum Group, Inc. Begins Oil & Gas Production at its Acom A-6...
Ignis Petroleum Group, Inc. Receives First Revenue.
Ignis Petroleum Group, Inc. Receives First Revenue
Where Theres Oil Theres More Oil.
Ignis Petroleum Group, Inc. Announces Gas Discovery at Prospect in Chambers...
Prior to drilling the well, the Company anticipated that it would encounter primarily natural gas in an up-dip position from the previous Acom A-5 well. The Company's engineering and geological team will continue to evaluate the well performance and area geology during the coming weeks. The proved and probable reserves will be determined after this evaluation has been completed.
In announcing the initial production, Michael Piazza, President and CEO, said "The results from this well are exciting and could exceed the Company's expectations of reserves from the Upper Nodosaria because of the unexpected level of high-quality crude oil production."
About Ignis Petroleum
Ignis Petroleum Group, Inc. is a Dallas-based oil and gas company executing its business plan for the exploration, acquisition and development of crude oil and natural gas properties in the United States. Company management is building an energy portfolio that combines low-risk, high-potential projects with higher-yield, moderate-risk projects. The Company focuses on prospects that result from new lease opportunities, new technology and new information. For further information, visit www.ignispetro.com.
Safe Harbor for Forward-Looking Statements: This release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in oil and gas exploration, the need to obtain additional financing, the availability of needed personnel and equipment for the future exploration and development, fluctuations in gas prices, and general economic conditions.
COPYRIGHT 2005 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning
That one well is the Acom A-6 I believe.
"One Hand Washes the Other"
Yup - you can read!!
Spain? I thought he was in Switzerland! - do you know if he vacationing or on business?
Holding up pretty well considering the indicators - accumulation ongoing IMO Only a matter of time before we head higher again
Have you come across RRC: Range Resources in your readings of the filings?? They were supposed to deliver a rig at one time to drill for IGPG. Anyway, I used to only have a full service broker back in the late 90's and he put me in RRC at .50 its now a 60.00 stock 3-2 split in 05
Times were really bad back then for the entire oil patch but my broker had the hindsight and also the belief that somehow our government was artificially holding down the price per BBL and he put me in a couple handfuls of stocks and natural resources mutual funds back then.
So, I have the same feeling that IGPG will reincarnate just the same as my other holdings did in the past. Since petroleum is on fire, I cant see how my fortune wont be rewarded for believing in IGPG. It's only a matter of time.
BTW - I've been a buyer of DBRM lately. Check it out - big potential.
"One Hand Washes the Other"
I can't imagine that an attorney is going to "give up" any information other than what we do know from filings but try nonetheless. Maybe he will prove helpful. I'm interested in what you hear from him.
If he doesnt call you back keep calling!!
There is always a chance that we will get funding from some outside source that will not only pay-off Cornell but give IGPG working capital going forward. Furthur funding could prove beneficial to the companies capitalization in the form of drilling and proving reserves.
You stated that the CEO was in Switzerland? Did your source say what he was there for? I can only guess he was there restructuring the companies debt since it would seem there is no other reason to go overseas other than the obvious. Maybe we will see IGPG come out of this nuclear winter bigger, better and stronger? Personally, Im more hopefull that the agreement with Silver Point is what saves us but it could be that the money from Silver Point is what is being used in negotiations for debt restructuring.
Like I wrote in a earlier summation of IGPG, there are several factors at work here. First, they have to get rid of Cornell which wont be an easy task but for the slight chance that IGPG's working relationship with Silver Point is about to bare fruit. If this is the case, it might be proper to speculate that the agreement is almost fulfilled and IGPG will then have the finances to pay off Cornell. I believe this is what will keep IGPG in play as we await the 10K this Summer. Otherwise, there really is no event that we shareholders can look forward to IMO. Survival will be harder as we go forward as Cornell keeps heaping on more debt in fee's for IGPG being in default. My own opinion of the situation (which is why I'm long) is that the deal with Silver Point is close and the company will survive but only by the skin of their teeth.
Im not facing a disaster but then again if I were I wouldnt post pathetic attacks on a board where I have no purpose.
He bought at .02 - He isnt bragging, he lost money! Maybe he can now move on - roflmfao
Everyone should take the time to listen to this interview - its a rather sobering discussion about our markets
http://www.netcastdaily.com/broadcast/fsn2008-0712-2.asx
"One Hand Washes the Other"
IGPG is undergoing a restructuring and could come out the other side with little to no debt and a possible drilling campaign funded by Petrofinanz or some other entity that helps them through these troubled times. Currently the CEO is in Switzerland - no he's not on vacation he's there on IGPG business.
IMO the shares are undervalued but I dont know what metric to compare them to other than possible book value and IMO it trades well below book.
They do have prospects but I currently cant put a number on what they might be worth since very little drilling has gone on to establish reserves.
http://www.ignispetroleum.com/project.html
Here is an old promotional page fully of BS but gives you an idea where the company was at before it fell flat on its face and is trading for pennies
http://www.faganreport.com/html_email/tfr_200510-3week_IGPG/content.htm
Boardmarks finally on the rise again eom
Looks like NG prices may have peaked in the interim over the last few days but it shouldnt have caused such a large sell off of CHQ shares - nothing but good news going forward IMO Does it really matter whether CHQ sells gas at 10 or 12 or 13? They're still about to start major production and these shares are way undervalued compared to what is about to come to market.
No worries here - I'm just sitting tight
Im content to wait it out. I have a small position. I keep this one up on level 2 and watch it daily out of the corner of my eye hoping to get in bigger if we get some news
Dont mind him, he's a waste of bandwidth. Attacks then widthdraws then tries to make ammends - actually rather passive aggresive type.
amex: CHQ
"One Hand Washes the Other"
Freto, Masontrend is long gone so I cant see why you would continue to post here except to cause trouble. Why don't you go back to Yahoo! and make you case there so we dont have to read through all the crap you post?
I believe we are going higher than 7 mid-term. There's going to be a lot of good news around here for the foreseable future and that will drive these institutions to continue buying us up. We could go to 20 over the next month or so IMO
Im very bullish on CHQ
Still under considerable accumulation - we'll be headed higher again shortly!
Worth a look but definately not going to chase one of Panetta's weekend picks on Monday
Pink sheets are just too risky IMO Many of these small oil and gas plays on the OTCBB are already risky enough. There has to be some form of corporate governence aka: SEC filings - just to know what is going on within the companies I play.
I own a few shares of UVSE along with DBRM, CHQ, SNG, TGC, FPP, MPET, MCKE, HENC and even IGPG which could turn around just because it has the prevailing winds of LNG prices roaring at 13.00
"One Hand Washes the Other"
Challenger Energy Corp. Announces Logging of Zone of Interest in "Bounty" Well Offshore Trinidad
Thursday June 26, 9:10 am ET
CALGARY, ALBERTA--(MARKET WIRE)--Jun 26, 2008 -- Challenger Energy Corp. ("Challenger") (CDNX:CHQ.V - News)(AMEX:CHQ - News), along with its partners Canadian Superior Energy Inc. ("Canadian Superior") (Toronto:SNG.TO - News)(AMEX:SNG - News), and BG International Limited ("BG"), a wholly owned subsidiary of the BG Group plc (LSE:BGL.L - News), announced today that they are in the process of wireline logging the "Bounty" well on Block 5(c) offshore Trinidad at an interim total depth based on a zone of interest indicated by logging-while-drilling data and mud logs. Wireline logging operations are underway, and initial wireline logging results have shown approximately 200 feet of pay in a well developed sand interval that the logs indicate is hydrocarbon bearing. Following the completion of current wireline logging activities, drilling is expected to resume targeting further objectives in the well, with flow testing of the zone logged to date planned once the well reaches total depth. Logs received to date indicate very encouraging hydrocarbons in the drilled section of the well, prior to Challenger's projected TD of approximately 18,000 feet subsea.
The "Bounty" well was spudded on February 20, 2008 on a separate prospect from the "Victory" natural gas and condensate discovery announced on January 14, 2008, and is located approximately 2.2 miles from the "Victory" well. The "Bounty" well is being drilled by the KanTan IV semi-submersible rig as the second well in a three-well program. The "Endeavour" well is expected to be spudded in August as the third well in the program.
Challenger Energy Corp. is a Calgary, Alberta, Canada based oil and gas exploration company which is currently focusing on "high impact" oil and gas plays offshore the Republic of Trinidad and Tobago. See www.challenger-energy.com for information on Challenger.
ADVERTISEMENT
Canadian Superior is a Calgary, Alberta, Canada based oil and gas exploration and production company with operations primarily offshore Trinidad and Tobago, offshore Nova Scotia, Canada and in Western Canada. (See Canadian Superior's website at www.cansup.com for information on Canadian Superior).
BG Group plc (LSE:BGL.L - News) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with an excellent track record in finding and commercialising reserves. See www.bg-group.com for information on BG Group plc.
This news release contains forward-looking information, including estimates, projections, interpretations, prognoses and other information that may relate to current, past or future production, development(s), testing, well test results, project start-ups and future capital spending. Current, past and/or future actual results and/or reported results, estimates, projections, interpretations, prognoses, well results, test results, reserves, production, resource and/or resource potential, development(s), project start-ups, and capital spending, plans and/or estimated results could differ materially due to changes in project schedules, operating performance, demand for oil and gas, commercial negotiations or other technical and economic factors or revisions. This news release may contain the reference to the terms discovery, reserves and/or resources or resource potential which are those quantities estimated to be contained in accumulations. There is no certainty that any portion of these accumulations or estimated accumulations in this news release may not change materially; and that, if discovered, in any discovery, the accumulations or estimated accumulations may not be economically viable or technically feasible to produce.
Statements contained in this news release relating to estimates, results, events and expectations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks, uncertainties, scheduling, re-scheduling and other factors which may cause the actual results, performance, estimates, projections, interpretations, prognoses, schedules or achievements of the Corporation, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Corporations' annual reports on Form 20-F on file with the U.S. Securities and Exchange Commission.
Thank you, Weasel. g'nite
CHQ
"One Hand Washes the Other"
I've been looking around for another "Mexco" and I think I've found two that may play out the same.
AMEX: CHQ and SNG
Challenger Energy Corp. Announces Logging of Zone of Interest in "Bounty" Well Offshore Trinidad
Thursday June 26, 9:10 am ET
CALGARY, ALBERTA--(MARKET WIRE)--Jun 26, 2008 -- Challenger Energy Corp. ("Challenger") (CDNX:CHQ.V - News)(AMEX:CHQ - News), along with its partners Canadian Superior Energy Inc. ("Canadian Superior") (Toronto:SNG.TO - News)(AMEX:SNG - News), and BG International Limited ("BG"), a wholly owned subsidiary of the BG Group plc (LSE:BGL.L - News), announced today that they are in the process of wireline logging the "Bounty" well on Block 5(c) offshore Trinidad at an interim total depth based on a zone of interest indicated by logging-while-drilling data and mud logs. Wireline logging operations are underway, and initial wireline logging results have shown approximately 200 feet of pay in a well developed sand interval that the logs indicate is hydrocarbon bearing. Following the completion of current wireline logging activities, drilling is expected to resume targeting further objectives in the well, with flow testing of the zone logged to date planned once the well reaches total depth. Logs received to date indicate very encouraging hydrocarbons in the drilled section of the well, prior to Challenger's projected TD of approximately 18,000 feet subsea.
The "Bounty" well was spudded on February 20, 2008 on a separate prospect from the "Victory" natural gas and condensate discovery announced on January 14, 2008, and is located approximately 2.2 miles from the "Victory" well. The "Bounty" well is being drilled by the KanTan IV semi-submersible rig as the second well in a three-well program. The "Endeavour" well is expected to be spudded in August as the third well in the program.
Challenger Energy Corp. is a Calgary, Alberta, Canada based oil and gas exploration company which is currently focusing on "high impact" oil and gas plays offshore the Republic of Trinidad and Tobago. See www.challenger-energy.com for information on Challenger.
ADVERTISEMENT
Canadian Superior is a Calgary, Alberta, Canada based oil and gas exploration and production company with operations primarily offshore Trinidad and Tobago, offshore Nova Scotia, Canada and in Western Canada. (See Canadian Superior's website at www.cansup.com for information on Canadian Superior).
BG Group plc (LSE:BGL.L - News) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with an excellent track record in finding and commercialising reserves. See www.bg-group.com for information on BG Group plc.
This news release contains forward-looking information, including estimates, projections, interpretations, prognoses and other information that may relate to current, past or future production, development(s), testing, well test results, project start-ups and future capital spending. Current, past and/or future actual results and/or reported results, estimates, projections, interpretations, prognoses, well results, test results, reserves, production, resource and/or resource potential, development(s), project start-ups, and capital spending, plans and/or estimated results could differ materially due to changes in project schedules, operating performance, demand for oil and gas, commercial negotiations or other technical and economic factors or revisions. This news release may contain the reference to the terms discovery, reserves and/or resources or resource potential which are those quantities estimated to be contained in accumulations. There is no certainty that any portion of these accumulations or estimated accumulations in this news release may not change materially; and that, if discovered, in any discovery, the accumulations or estimated accumulations may not be economically viable or technically feasible to produce.
Statements contained in this news release relating to estimates, results, events and expectations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks, uncertainties, scheduling, re-scheduling and other factors which may cause the actual results, performance, estimates, projections, interpretations, prognoses, schedules or achievements of the Corporation, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Corporations' annual reports on Form 20-F on file with the U.S. Securities and Exchange Commission.
"One Hand Washes the Other"
Matty, put some in CHQ you wont be disappointed with that one
Fiscal year end is June so share owners should be getting a 10K middle Summer. I would be surprised if they show any improvement concerning the restructuring or elimination of Cornell as fees are piling up from being in default furthur driving their debt obligations into an unmanageable situation.
The only saving grace may be the fact that Silver Point continues their drilling of the Barnett Prospects which is basicly the only asset that may perform for IGPG and create income that may be used to retire debt. Undoubtably, the Barnett is edging closer to pay day for IGPG as LNG is trading near 13.00 and the deal that IGPG has with Silver Point is likely closer to the point where IGPG earns their share of revenues.
At this point, these shares are the riskiest of any LNG play out there. If you are considering buying them you should only invest high risk capital that you can afford to lose entirely. The bet here is that IGNIS makes ends meet with Silver Point before the whole situation with Cornell becomes completely unmanageable. Currently, the market is saying it wont happen.
I've been slowly accumulating shares of DBRM at these discounted prices. It seems the market doesnt appreciate the balance sheet nor the future drilling prospects with regard to their partnership with Chevron. It is my understanding that we will see a positive drilling campaign since the prospects in CA are almost guaranteed to hold hydrocarbons.
I submit that 6-8 months out DBRM will be much higher than todays PPS as they definately will have commenced drilling by then and will undoubtably be revealing their spoils to the public.
I suppose that the wait may be too long for many penny players since they are always chasing the play of the day instead of laying sound bets. The smart money in these little known OTCBB plays lay like a trap and await the boom knowing full well that pay day is only a matter of time.
Challenger Energy Corp. Announces Logging of Zone of Interest in "Bounty" Well Offshore Trinidad
Thursday June 26, 9:10 am ET
CALGARY, ALBERTA--(MARKET WIRE)--Jun 26, 2008 -- Challenger Energy Corp. ("Challenger") (CDNX:CHQ.V - News)(AMEX:CHQ - News), along with its partners Canadian Superior Energy Inc. ("Canadian Superior") (Toronto:SNG.TO - News)(AMEX:SNG - News), and BG International Limited ("BG"), a wholly owned subsidiary of the BG Group plc (LSE:BGL.L - News), announced today that they are in the process of wireline logging the "Bounty" well on Block 5(c) offshore Trinidad at an interim total depth based on a zone of interest indicated by logging-while-drilling data and mud logs. Wireline logging operations are underway, and initial wireline logging results have shown approximately 200 feet of pay in a well developed sand interval that the logs indicate is hydrocarbon bearing. Following the completion of current wireline logging activities, drilling is expected to resume targeting further objectives in the well, with flow testing of the zone logged to date planned once the well reaches total depth. Logs received to date indicate very encouraging hydrocarbons in the drilled section of the well, prior to Challenger's projected TD of approximately 18,000 feet subsea.
The "Bounty" well was spudded on February 20, 2008 on a separate prospect from the "Victory" natural gas and condensate discovery announced on January 14, 2008, and is located approximately 2.2 miles from the "Victory" well. The "Bounty" well is being drilled by the KanTan IV semi-submersible rig as the second well in a three-well program. The "Endeavour" well is expected to be spudded in August as the third well in the program.
Challenger Energy Corp. is a Calgary, Alberta, Canada based oil and gas exploration company which is currently focusing on "high impact" oil and gas plays offshore the Republic of Trinidad and Tobago. See www.challenger-energy.com for information on Challenger.
ADVERTISEMENT
Canadian Superior is a Calgary, Alberta, Canada based oil and gas exploration and production company with operations primarily offshore Trinidad and Tobago, offshore Nova Scotia, Canada and in Western Canada. (See Canadian Superior's website at www.cansup.com for information on Canadian Superior).
BG Group plc (LSE:BGL.L - News) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with an excellent track record in finding and commercialising reserves. See www.bg-group.com for information on BG Group plc.
This news release contains forward-looking information, including estimates, projections, interpretations, prognoses and other information that may relate to current, past or future production, development(s), testing, well test results, project start-ups and future capital spending. Current, past and/or future actual results and/or reported results, estimates, projections, interpretations, prognoses, well results, test results, reserves, production, resource and/or resource potential, development(s), project start-ups, and capital spending, plans and/or estimated results could differ materially due to changes in project schedules, operating performance, demand for oil and gas, commercial negotiations or other technical and economic factors or revisions. This news release may contain the reference to the terms discovery, reserves and/or resources or resource potential which are those quantities estimated to be contained in accumulations. There is no certainty that any portion of these accumulations or estimated accumulations in this news release may not change materially; and that, if discovered, in any discovery, the accumulations or estimated accumulations may not be economically viable or technically feasible to produce.
Statements contained in this news release relating to estimates, results, events and expectations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks, uncertainties, scheduling, re-scheduling and other factors which may cause the actual results, performance, estimates, projections, interpretations, prognoses, schedules or achievements of the Corporation, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Corporations' annual reports on Form 20-F on file with the U.S. Securities and Exchange Commission.
Contact:
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Woohoo!! eom
Broke out on high volume and retreating under low volume. The chart looks like we are still under considerable accumulation. Shares should continue to climb shortly IMO
Im still up 9% and looking to buy a few more if we retreat below that.
Forget it - I read the thread and the filings