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copy of the email I received today from IR.
Investor Relations
1:00 PM (10 hours ago)
Thank you for your e mail.
Thanks for your support, the company is heading into new and exciting areas.
Regarding the anticipated press release of August 26, 2013.
The company had anticipated that it would be issuing a press release regarding the Kreyenhagen Trend Prospect however at the request of the joint venture partner, and in compliance with contractual obligations, the company is delaying the particulars of that release until further notice.
The company will be updating the shareholders as soon as possible regarding developments in the Kreyenhagen Trend acreage and other field developments.
Regards;
IR.
I just received an almost exact email from IR about an hour ago. It added a thank you for the continued support and they stated that "the company is heading into new and exciting areas."
Good stuff so it seems.
That was done last year or so. I called the new agent last year but they weren't able to release the information at that time.
An alternative to fracking the Monterey/Kreyenhagen shale:
Acidizing could rival fracking in Monterey Shale - SFGate http://www.sfgate.com/green/article/Acidizing-could-rival-frack...
Acidizing could rival fracking in Monterey Shale
David R. Baker Updated 10:56 pm, Sunday, August 25, 2013
Fracking hasn't unleashed an oil production boom in California, at least not yet. Could acid?
Companies trying to pry oil from a vast shale formation beneath Central California have been pumping powerful acids underground to dissolve the rock and free the petroleum within.
And there are hints that the process, known as "acidizing" a well, may work better than hydraulic fracturing in California's Monterey Shale, estimated to hold 15.4 billion barrels of oil.
"There's a lot of discussion around the Monterey Shale that it doesn't require fracking, that acidizing will be enough to open up the rock," said Chris Faulkner, chief executive officer of Breitling Oil and Gas. "I think it could be a way to unlock the Monterey. And people need to understand that this is a huge resource that could mean a lot of jobs."
For all its potential, acidizing in California remains a bit of a mystery. State regulators don't keep tabs on how often oil companies use the process. Nor have they studied its potential risks in depth.
Most oil companies will say little in public about acidizing. They don't want to reveal too much information to their competitors, each of which has its own methods and chemical formula. They also don't want to draw the attention of the state's powerful environmental lobby.
But environmentalists have noticed anyway. So have California lawmakers.
State regulations
State Sen. Fran Pavley has included acidizing in a bill that initially focused on regulating fracking. Her bill, SB4, would require companies to obtain a specific permit from the state before acidizing or fracking a well. It also would commission a study of the threats each oil-production technique could pose to the environment.
"It's one of those things where the more you read, the more questions you have," said Pavley, D-Agoura Hills (Los Angeles County). "I'm concerned that the narrow focus on fracking isn't sufficient to protect health and safety."
Oil industry representatives insist acidizing can be done safely. "We use acid because it's effective," Paul Deiro, a lobbyist for the Western States Petroleum Association, told legislators at a hearing convened by Pavley in June. "And we handle it safely. I'm unaware of any disasters related to that."
State officials still don't have a clear idea how many wells in California have been stimulated with acid. The state agency that regulates oil drilling - the Division of Oil, Gas and Geothermal Resources, within the California Department of Conservation - doesn't keep track, although it might in the future. And while many of the companies fracking in California post information about fracked wells online, using a nationwide website called FracFocus, they don't do the same for acidized wells.
And yet the companies exploring the Monterey Shale have dropped occasional hints.
Occidental Petroleum Corp., which controls more Monterey Shale property than any other company, has told Wall Street analysts that it relies more on acidizing than fracking to tap California's shale formations.
"It's mainly acid-jobs driven, and we're just simply treating these wells in larger intervals with more acid," said William Albrecht, president of the Los Angeles company's oil and gas operations in the Americas, during a 2011 conference call with analysts.
Occidental declined to comment for this story, referring questions to the petroleum association.
Drillers have been pouring acid down oil wells for more than a century, using it to dissolve the underground drilling debris that surrounds new wells. Acid can also clean out hydrocarbon deposits that gum up older wells.
In the Monterey Shale, however, oil companies are using larger amounts of hydrofluoric and hydrochloric acids to open tiny channels in the rock around each well. Those channels allow oil trapped within the rock to flow into the well.
Powerful corrosive
Fracking also creates channels within shale, but does so by blasting the rock with a high-pressure mixture of water, sand and chemicals. Acidizing doesn't require high pressure or sand. It can, however, be combined with fracking in a process called fracture acidizing, or acid frack.
Hydrofluoric acid in particular is a powerful corrosive, capable of eating through steel as well as rock. So companies blend it with water and other chemicals to protect their wells. Mark Nechodom, director of the Department of Conservation, said drillers in California have used acid concentrations as high as 15 percent, although it's typically in the single digits.
1 of 2 8/28/13 6:19 PM
Acidizing could rival fracking in Monterey Shale - SFGate http://www.sfgate.com/green/article/Acidizing-could-rival-frack...
Companies go out of their way to keep the exact composition of their acidizing fluids secret. At an industry conference in Bakersfield this spring, energy policy consultant Robert Collier watched oil company representatives try to discuss acidizing without divulging their own processes or plans.
"They were trying to get information from each other without giving any up," said Collier, a former Chronicle journalist who has written several reports about acidizing for the Next Generation think tank. "People weren't talking about exact percentages, their formulas. You don't give up your special sauce."
Hydrofluoric acid can damage lungs and cause severe skin burns. Above 67 degrees, it can form a vapor cloud that stays near the ground, according to Collier. A hydrofluoric acid accident last September at a South Korean chemical plant killed five people.
No serious accidents
State officials say they are unaware of any serious accidents involving acidizing in California oil wells. Nor have they seen cases of acid from a well seeping into groundwater.
"At least in our reading of current well histories or reporting, there's no evidence that we currently have a problem to solve," Nechodom told Pavley and other state legislators at the acidizing hearing in June. "But I think there's good purpose in taking a hard look at this to see if perhaps we have missed something or if we should add something to our regulatory oversight."
David R. Baker is a San Francisco Chronicle staff writer. E-mail: dbaker@sfchronicle.com Twitter: @DavidBakerSF
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© 2013 Hearst Communications Inc.
rayinbrooklyn65..I got your pm..thanks and GLTY. I still have all my shares and still buying as I am able. I think the chance of success is now greater than it was in the past. GRID seems to be getting on track and has a definite plan of attack.
No worries here..Grid's day is coming soon, the drills are soon to be turning and it won't need "awareness campaigns" when the oil flows.
Good reading about the eagles ford shale.
http://www.dallasfed.org/assets/documents/research/swe/2012/swe1202b.pdf
I find this a bit hard to believe, since the
SEC would've looked into all this before they lifted the DTC chill in the first place. right?
Nice job. That'll translate to many pennies in the future. Imo
$Grpr
Power hour is upon us. I'd rather have shares of at least 82,000,000 barrels of oil than beer money on a Friday. $GRPR
Works for me..go $GRPR
Sounds like more joint venture news and drilling updates a possibility on Monday. $GRPR
Thanks for your research into zodiac. What's good for them is also good for others in this same playground. (:
You're right...gotta slap that ask..sat all day at 7 and no fill. I'm topped off now at 9..bring on that monday news.
Very interesting Peter. Thank you.
Go GRPR..
I am hoping for news of Solimar's progress this week or next, as we all know they're drilling as we speak. Here is IR's response to my question on that a few days ago.
More news will be forth coming regarding corporate progress this week and next.
IR.
Have you guys seen this bit 'o news off the Sierra World Equity Review, which I'm not familiar with:
Following letter of intent for a 16.5% net revenue interest in the Jacalitos Prospect, Grid Petroleum (GRPR) To Announce New Joint Venture With Yates Petroleum Predicts Sierra World Equity Review. Look for a PR coming in the next 21 days and then hang on shareholders as GRPR races to pennyland forecasts accurate Sierra! Sierra’s Latest Stock Headlines Because You Need To Know!
Repost of yesterday's IR answer to me:
Thanks for your faith in the company!
To answer the NW Premont issue, the company will not be involved in any dealings with Progas or Dan Polk or his affiliates.
As for WTO prospects the company has a few potential leases that are under review however nothing is contracted.
As far the Operators license, that will be re instated at that time.
Texas will be revisited after California is developed further.
Please look for news Monday and the following weeks.
Thanks for your support.
There are no notes coming due until September.
Please look for the 8 k and its reasoning on Monday.
The company was contractually required to increase the reserve capability due to existing note obligations.
No plans for dilution.
More news will be forth coming regarding corporate progress this week and next.
IR.
Heck, reading up on the potential that our leases hold, natural gas sales alone will probably be a great cash generator for additional lease acquistions.
I'm very curious now, I don't know many companies that have IR work over the weekends or past general business hours.
Good question. Solimar's website calls it the suspended Jack Hamar 1-24 well. These areas are abit confusing, and I don't know if this is the same well or not.
Roger that. I had some lingering questions I couldn't find the answers to, but IR gave me the straight scoop as it should be. I'm sure they'll tell us more in the near future.
It doesn't sound like a pennystock for much longer.
Thanks for your faith in the company!
To answer the NW Premont issue, the company will not be involved in any dealings with Progas or Dan Polk or his affiliates.
As for WTO prospects the company has a few potential leases that are under review however nothing is contracted.
As far the Operators license, that will be re instated at that time.
Texas will be revisited after California is developed further.
Please look for news Monday and the following weeks.
Thanks for your support.
There are no notes coming due until September.
Please look for the 8 k and its reasoning on Monday.
The company was contractually required to increase the reserve capability due to existing note obligations.
No plans for dilution.
More news will be forth coming regarding corporate progress this week and next.
IR.
I know, not like the old Grid from the past. Somethin's changed.
Here the repost of yesterday's announcement from Solimar. It sounds good to me with that 600ft of payzone or so.
Solimar cuts thick, oily Temblor at San Joaquin well
HOUSTON, July 22
07/22/2013
By OGJ editors
Solimar Energy Ltd., Melbourne, said its Kreyenhagen Ranch 2-33 well in the northwestern San Joaquin basin in California has encountered more than 600 ft of Temblor formation heavy oil sands with oil present throughout.
The well, drilled at a 48° angle, went to 1,472 ft measured total depth. Schlumberger is analyzing logs to determine rock and fluid properties including oil and water saturation. Results are expected within a week.
The well is in a gazetted field area that has 13-18° gravity oil in a trap of the same type as giant Coalinga oil field to the north, Solimar said. Four suspended wells are available for reentry. The Temblor sandstone lies below the fractured McClure (Monterey) shale and above the fractured Kreyenhagen shale.
Solimar will complete the well and place it on production using a completion rig in due course to obtain reservoir fluid samples and to evaluate the production performance of a deviated well on primary production.
Solimar plans to include the well in an upcoming steam pilot test scheduled for early 2014 and has received the key permit for the steam EOR pilot.
The company has signed a farmout with a Canadian public company for an appraisal and development joint venture on 1,720 acres. The farmee is providing the funding, while Solimar remains operator.
I agree. Man, I'm glad I haven't sold any shares yet.
Same as ysung's. Look for possible news Monday, this week and next.
What a difference in communicating with IR now. It's as a company should operate. I wrote to them and had my questions answered in minutes...
looking forward to Monday!!
Good to see you here Tesla777. Been here for 11/2 years now and great things are beginning to happen. Still holding out hope for BRZ# too.
Solimar Energy Limited: Corporate Update
SGY, V.SXS | 18 hours ago
Solimar Energy Limited: Corporate Update
MELBOURNE, AUSTRALIA--(Marketwired - Aug. 2, 2013) - Solimar Energy Limited ("Solimar" or "the Company") (ASX:SGY)(TSX VENTURE:SXS) is pleased to announce further information regarding the Kreyenhagen Ranch 2-33 well (K 2-33).
The first well (K 2-33) of the Phase I program reached TD at 1,472 feet measured depth on July 20 and was subsequently logged and cased. The well was directionally drilled up to a 48 degree angle and encountered close to 600 feet (measured depth) gross interval of the Temblor heavy oil formation.
Rock and fluid properties, including the relative amounts of sand and shale in the formation and the percentage of oil and water will be investigated in conjunction with the drilling of the second well (K 7-33) of the Phase I program. K 7-33, anticipated to spud in mid-August, will be a vertical well and have whole core cut across much of the Temblor formation to calibrate logs.
K 2-33 will be completed and placed on production, using a completion rig in due course, to obtain reservoir fluid samples and to evaluate the production performance of a deviated well on primary production. The Company plans to include the well in the upcoming Phase II thermal (steam) pilot test currently scheduled for early 2014.
Read more at http://www.stockhouse.com/news/press-releases/2013/08/02/solimar-energy-limited-corporate-update#cPL4bS8WYv2G5drF.99
Good morning Bubbaray, welcome. I'm an amateur too, but I'd advise you to hold your shares 'till the real value of Grid is established with oil production. An old oil engineer used to post here and said that most people will sell their shares too cheaply and not wait till oil is actually produced. You have a great position.
good evening pasqualee and welcome to a great board. I think you'll find many highly experienced traders here now,that seem to go out of their way to be helpful. Good luck with this great stock.
That's a thing of beauty for sure.
Hey guys, if you're new to the neighborhood, get a load of our new "playground".
California's vast oilfields seen from the air
http://www.bbc.co.uk/news/science-environment-23284506
Thanks man, I'm in high and I'm in real low and had some time to build a decent postion. Plan on adding more in the morning. Glty
Nice..I'll take that for starters. I wonder what our free float is right now? It's gotta be getting tighter.
thanks for sharing smitter. I'm glad to hear the answer back to your email and I think the time of radio silence is about to be over.