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Nothing so far.
http://www.lse.co.uk/ShareChat.asp?page=1&ShareTicker=IAE
Maybe better luck on the LSE which was closed today.
Pumpers on SH think its going to $4-5 a share. lol
Rockin' with IAE tommorrow. Maybe it does a buck. Sure hope so.
You like Colossus? When do you think they'll release drill results?
I'm ready for it.
Sweet.
No major resistance I think until about $1.50 once its past .75.
If production was 8800 bpd from that well this stock would be ridiculously cheap. If its 11000-12000 then its even more so.
When this stock hits $1.50 I don't want to be the guy saying, "jeez I wish I had bought more when it was cheap". I won't be that guy..
Resistance at .70 to .75 then blue sky
Still cheap and I hope I'm right on this one.
Whats 201000 x .10 ?
Exactly why you are retired and I'm still working.
You must have me mistaken for somebody else. I'm a value investor now. I don't flip stocks for minor gains.
Just remember I have a reckless nature and a very high tolerance for financial risk.
I have a few collecting dust from last year.
Well since John told you about this one I guess you will have to fly out here and pay for the golf.
Hey, I just realized, didn't I tell you about this stock? Therefore you should be buying the golf? lol
A little early for celebrating there John. I think my average on this one is around .55. Talk to me when its at 1.55
Looks like the selling is drying up on IAE.
Jeez, good thing I built up my position before all you guys started buying!
I added more today too.
Value investing?
Lots of opportunities out there for sure.
I think oil will creep up this year but probably going to trade around $60 for a while first.
IAE making good money at $60 a barrel and that should be obvious from their 2nd quarter results. Expect those results mid August and the stock to move up in the mean time.
Rumour is on Stockhouse that Jacky is producing 30% more than expected..
Its going to be a good summer with 152k of IAE in my trading accounts.
Fact sheet says their current production is just 1800 barrels per day.
We'll compare back in 3 months and see who had the better pick.
From Stockhouse:
Opex is $17 bbl, plus $2 bbl G&A plus $2 bbl interest expense - those are numbers direct from Iain McKendrick.
So use Brent less $21 bbl to get cash flow.
You've forgotten Beatrice and Bravo production of about 2700 bpd gross. Total net production is over 7000 bpd.
At current production rates and oil prices, IAE is generating well over C$100MM in cash flow a year. IAE is trading roughly ~1x dacf!
But IAE isn't just cheap on debt adjusted cash flow metrics. It is also dirt cheap on reserve and flowing boe basis, trading about C$4.60 per 2P bbl and EV per flowing boed of $22K - anyone familiar with average metrics in the sector should quickly realize how ridiculously undervalued IAE is...
BUY IAE ! I AM POUNDING THE TABLE.
I thought you liked skiing
No dept is no debt as per the May corporate presentation. IAE is well financed from the financing they did last summer at $1.50 (50,000,000 shares). They had dept but that was transferred to Dyas. The 60 million you are referring to is available to IAE if needed. A line of credit, not dept. Read the Market Depth and Analysis.
IAE is a huge bargain at current levels and its only a matter of time before the stock moves up. Get the cheap shares while you can because there must be a fund dumping or something. This is an easy 3 bagger from here.
Thats not dept but a dept facility. Big difference. Line of credit only. Available if required.
Are they making money? IAE is. I can see IAE trading at $1.50 - $2.00 a share sometime in the next 6 months.
http://www.ithacaenergy.com/presentations/090505%20Ithaca%20Analyst%20Presentation%20May%202009%20v%201%205.pdf
Have a look at IAE. Cheapest oil stock around. Wont stay that way.
So you think thats going to reflect on vst eventually. Seems like a lot of paper changing hands on vst.
Heritage Oil makes oil discovery with Miran West-1
2009-05-06 06:22 ET - News Release
Mr. Tony Buckingham reports
HERITAGE OIL ANNOUNCES A MAJOR OIL DISCOVERY WITH THE MIRAN WEST-1 WELL TEST IN THE KURDISTAN REGION OF IRAQ
Heritage Oil Ltd. has made a major oil discovery in the Kurdistan region of Iraq and the completion of an initial test program on the Miran West-1 well. The results are summarized below:
* Miran West structure estimated oil in place of between 2.3 billion to 4.2 billion barrels;
* Recovery factor expected to be between 50 per cent to 70 per cent due to the highly fractured nature of the reservoirs;
* From the pressure data recorded during testing management estimates flow rates of between 10,000 to 15,000 barrels of oil per day per well;
* Miran West-1 well has an estimated gross oil-bearing interval of 710 metres;
* Oil produced during testing was medium gravity (approximately 27 degree API), with low sulphur, a low gas-oil ratio and with no water;
* Miran West field development will be low cost and straightforward to fast-track;
* Potential for trucking production for sale by year-end 2009;
* Success of Miran West-1 has significantly lowered the exploration risk of the adjacent, similarly sized, Miran East structure.
It was announced in Stockwatch on March 25, 2009, that the Miran West-1 well had reached target depth. Several drill stem tests (DSTs) were run over a gross interval of 500 metres, covering the three major producing reservoirs in the region: the Shiranish, Kometan and Qamchuqua formations.
As this was the first exploration well ever drilled on the licence, drilling procedures took account of the high-reservoir pressures that characterize the region, but which were not encountered in the well. Testing was severely constrained by the limitations of the downhole and surface-testing equipment and the loss of over 100,000 barrels of drilling fluid and lost circulation material due to the highly fractured nature of the reservoirs.
Additional testing equipment is being sourced to undertake a second phase of longer-term testing. This equipment is expected to arrive within six to eight weeks and the drilling rig will remain on site during this period. Following the upcoming testing program the well is scheduled to be suspended as a future producer with the potential to truck crude oil production by year-end 2009.
The information gained from the drilling of this well will be invaluable for the drilling of subsequent appraisal wells, which can now be planned in such a way as to optimize future wells for testing and completion. Further drilling on the licence is scheduled for later this year.
Commenting on the results, Dr. Ashti Hawrami, the Minister of Natural Resources of the Kurdistan regional government, said:
"This is excellent news and we look forward to the Miran field exporting oil later this year. This will mean that the Miran field in the Kurdistan region of Iraq will make a further contribution to Iraq's oil revenue to be shared by all peoples of Iraq."
Tony Buckingham, chief executive officer, commented:
"This is another significant development milestone for Heritage. The presence of oil in such a large structure with a multibillion-barrel reserves potential illustrates the significance of this discovery. There is also further upside potential with the neighbouring Miran East structure, which together with Miran West has an area of approximately 330 square kilometres. The Miran field has the potential to deliver significant value as it will be a major source of reserve and production growth for Heritage."
Thailand Operations Update
* On Tuesday April 28, 2009, 8:32 am EDT
*
Buzz up!
* Print
CALGARY, ALBERTA--(Marketwire - April 28, 2009) - Pan Orient Energy Corp. (TSX VENTURE:POE - News) -
THAILAND
NSE-E2ST1 appraisal well (60-per-cent working interest and operator)
The NSE-E2ST1 appraisal well is currently producing 32 degree API oil at a stabilized rate of 1,350 barrels per day through casing and tubing choke settings of 26/48" and 14/48" respectively, with no water. The well is on free flow with flowing casing and tubing head pressures of 210 and 170 psig respectively.
This well is a sidetrack of the earlier drilled NSE-E2 where the main reservoir target was faulted-out but 15 barrels of oil was recovered from a different volcanic zone located in a separate fault compartment from the NSE-E1 structure that is yet to be appraised.
At least one additional well is planned for the NSE-E1 structure in 2009.
L44-W exploration well (60-per-cent working interest and operator)
The L44-W exploration well is currently shut-in while a cement plug is being run to isolate an upper 36 meter thick volcanic from a deeper 16 meter thick volcanic, the two being separated by 63 meters of intervening shale and thin volcanic stringers. Drilling fluid losses indicating good permeability had been encountered in both volcanic zones while drilling.
During test period #1 the well initially flowed at a maximum of 1,200 barrels of fluid per day (bfpd) with a 30% water cut that climbed to approximately 80% after approximately three hours. At the termination of the test, flowing casing head and tubing head pressures had decreased to 20-30 psig. A subsequent shut-in period saw well head pressures increase to 322 psig.
During test period #2 the flow rate was restricted to 540 bfpd initially and then further restricted to 250 bfpd with no water (all oil, approximately 32 degree API), the tubing was shut-in and a flowing casing head pressure of 120 psig was observed. After eight hours, the water cut increased immediately to 90% and the test was terminated 9 hours later.
Initial interpretation of the test data combined with observations from well tests on prior wells suggests that the water is being sourced from the deeper 16 meter thick volcanic zone. This deeper zone is being isolated with a cement plug and testing of the 36 meter thick upper zone is expected to start within the next five days.
Production testing is being conducted under a 90 day production test allowance from the Thailand Department of Mineral Fuels ("DMF"), as the well is outside any existing production license.
NSE-H2 appraisal well (60-per-cent working interest and operator)
The NSE-H2 appraisal well, drilled into the northern down structure portion of the NSE central fault compartment, is currently on production at approximately 420 barrels of oil per day with a 26% water cut as the well continues to clean up, much the same as the nearby NSE-H1 well (currently less than 1% water cut).
NSE-I1 appraisal/exploration well (60-per-cent working interest and operator)
The NSE-I1 appraisal/exploration well, located in the NSE north fault compartment is currently drilling ahead at a depth of 64 meters. This is the first well to be drilled in the NSE north fault compartment since the modest L44G-D1 discovery made in 2007 (0.075MM barrels of proved and probable reserves net to Pan Orient assigned in the reserve report as at December 31, 2008 evaluated by Gaffney Cline & Associates Ltd.). The well is located 1.1 kilometers northwest of L44G-D1 and in a separate down thrown fault compartment related to, up dip and larger than that of the NSE-E1 discovery made in 2008.
The targets include three different volcanic zones between 731 and 1,100 meters (TVD) within a 1.64 square kilometer structural closure entirely outside of the L44G-D1 3P reserve envelope. Success in any one of the 3 targeted volcanic zones has the potential to substantially increase the reserves currently assigned to the NSE north fault compartment.
Drilling is anticipated to be completed in the next 14 days at which time testing of multiple zones, if justified by drilling results, will be initiated.
NSE-H3 appraisal well (60-per-cent working interest and operator)
The NSE-H3 appraisal well is currently drilling ahead at a depth of 570 meters true vertical depth (TVD) towards the top of the main volcanic objective at approximately 850 meters TVD. Drilling is anticipated to be completed in the next 8 days with testing to commence shortly thereafter.
Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations currently located onshore Thailand, Indonesia and in Western Canada.
This news release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "anticipate" and "potential" or other similar wording. Forward-looking information in this news release includes, but is not limited to, references to: well drilling programs and drilling plans, estimates of reserves and potentially recoverable resources, and information on future production and project start-ups. By their very nature, the forward-looking statements contained in this news release require Pan Orient and its management to make assumptions that may not materialize or that may not be accurate. The forward-looking information contained in this news release is subject to known and unknown risks and uncertainties and other factors, which could cause actual results, expectations, achievements or performance to differ materially, including without limitation: imprecision of reserve estimates and estimates of recoverable quantities of oil, changes in project schedules, operating and reservoir performance, the effects of weather and climate change, the results of exploration and development drilling and related activities, demand for oil and gas, commercial negotiations, other technical and economic factors or revisions and other factors, many of which are beyond the control of Pan Orient. Although Pan Orient believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct.
Neither 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.
Contact:
Jeff Chisholm
Pan Orient Energy Corp.
President and CEO
(403) 294-1770
Bill Ostlund
Pan Orient Energy Corp.
Vice President Finance and CFO
(403) 294-1770
POe.V Pan Orient
Extracted from today's Late Edition
April 27, 2009
PAN ORIENT ENERGY (V-POE) $3.80 -0.06
We go back to Andy Gustajtis of Dominick and
Dominick to see what his top three list looks like right
now. We should warn you though that he’s thinking that
things are getting a little bit closer to being back to normal
and he has some pretty aggressive targets still for the
price of oil. More so than most and certainly a lot higher
than what strip prices are for crude oil.
He is betting we will see $60.00 on oil by July 1st and
$80.00 by Christmas. If we see oil at $80.00 by Christmas,
that means Santa Claus is definitely visiting the oil patch.
.
.
His number two pick is Pan Orient Energy and just going
over the financials as we happen to be speaking to him
today, he thinks Pan Orient can come up with some asset
value numbers that are a big bunch higher than what it is
trading for right now and he will give it a $7.00 target by
Christmas. Having said that, he suggests that drilling
results out later this week, could add a couple of dollars
to the stock right away.
We are scheduled to interview POE President, Jeff
Chisholm later this week when the exploration program
should/could have significant news—but our first question
for Jeff is, “Did Pan orient just receive a $6.00 a share
cash offer?