Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Was the only one on this board for a while. Good to see you blue and good luck. SDX looks like its about ready for a big move. IMO
The company has 170 million barrels proven oil reserve
http://www.seadragonenergy.com/uploads/Presentations/CorporatePresentation.pdf
Actually maybe a bit higher!
http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=31500138&l=0&r=0&s=SDX&t=LIST
Just my opinion.
AASE-12X ST 1 Well
Development well AASE-12X was spudded on 25 April 2012 and is located in the south- central part of the AASE field, updip of the Al Ola-1X producer. The well's objective was to appraise both the Shagar and Rahmi sands production in that location. The well reached a TD of 10,200 ft MD before being sidetracked to the north-east, for geological reasons, as AASE-12X ST1 and was then successfully drilled to a total depth of 10,300 ft MD into the base Kareem.The well encountered 15.5 ft of net pay in the Kareem Shagar sand, with oil bearing sands present to the base of the reservoir. The well has been completed as a Shagar sand producer and has been perforated in the interval 9,669 to 9,684.5 ft MD and flowed oil and gas on test at an average rate of 2,595 bopd and 4.7 MMscf/d respectively, on a 48/64" choke. The well has now been placed on production at an initial flow rate of1,038 bopd using a 28/64" choke.
Al Ola-3 Well
Following the successful completion of the AASE-12X ST1 well, the rig has been mobilised to drill the appraisal/injection well Al Ola-3, in the southern part of the AASE field. The well is expected to be an injector well targeting the Kareem sands, located to the south of Al Ola-1 and Al Ola-2 wells.
Production
Currently production from the AASE, Geyad and Al Ola fields is approximately 9,300 bopd (gross). Cumulative production from the NW Gemsa Concession has now exceeded 8.6 million barrels of 42 degree API Crude oil.
Thank you to who every purchased my shares today! I have been waiting for a long time to get rid of them. This stock pumped in volume like this some time ago and like today did nothing. I am glad to be out.
Good luck to you all.
No one wants this to rise more than me!
Keep up the cheers. I need to sell my shares! Going on vacation soon.
GLTA
WOW Songs, really? Here is your song! Good luck. Oh and please buy my 4710000 shares, I will sell you them at a basement price of 0.0001 just hit the ask, I will let you know when you get to mine.
This is a frozen turd and the only reason we are moving is cause someone has sh!t on their shoes!
IMO
Ive had sell orders in 4,700,000 @ o.ooo1 to be exact and they will not sell!
Al Baraka-16 Discovery Well Tests at 530 bopd
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, June 6, 2012 /CNW/ - Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") (TSX VENTURE: SDX) is pleased to announce that the Al Baraka-16 well has discovered oil in a separate fault block from the main Al Baraka field and tested oil from the deeper Kom Ombo "C" sand pay. This discovery has the potential of more than doubling the current field production.
This development well was successfully drilled to a total depth of 7,590 feet in the basement. The well is located on Al Baraka development lease on a separate fault block, immediately southwest from the main Al Baraka field. The well encountered oil shows in the Six Hills F1, Kom Omb "C" and Kom Ombo "A" sands. Cores were cut in the Six Hills F1 and Kom Ombo "A" sands. Core and petrophysical analyses show 60 feet of oil pay in the Kom Ombo "C", 18 feet in the Six Hills F1 and 4 feet in the Kom Ombo "A".
The Kom Ombo "C" was selectively perforated in the interval 6,610-6,767 feet and tested with Nitrogen lift at a rate of up to 530 bopd. This is the first commercial oil discovery in the Kom Ombo "C" sands where oil shows were observed in other wells previously drilled on the concession. The forward plan is to place the well on an extended production test to establish a stabilized production rate, map the extent of the pay and develop a plan for future step out wells.
West Al Baraka-2 Well:
The West Al Baraka-2 (WAB-2), the second oil discovery on the Kom Ombo concession is currently awaiting hydraulic fracture stimulation (frac). The frac program will be carried out by mid-June to determine the commercial viability of this discovery.
Faris-1:
This exploratory well, the second commitment well, is located 4.5 km south of Al Baraka oilfield, 4.3 km south of AB-16 discovery and 5.5 km northeast of the WAB-2 discovery. The well is proposed to be drilled to a total depth of 6,700 feet into the basement to test a large separate fault structure. The primary objective of this well is to appraise the deeper Kom Ombo "C" sands updip from AB-16 with the secondary objectives being the shallower Six Hills and Abu Ballas Formations.
Success at Faris-1 will open the Kom Ombo "C" sands play, as several follow up prospects and development locations have been identified.
Current production from the Al Baraka field is averaging approximately 500 bopd gross.
The Kom Ombo concession is located onshore in the southern part of Egypt some 1,000 km south of Cairo. It contains the Al Baraka oilfield, producing light oil from multiple reservoirs and an exploration area of 11,400 km².
Sea Dragon has a 50% working interest and is a joint operator of the Kom Ombo Concession with Dana Gas owning the remaining 50%.
Al Amir SE-12 Well:
This development well, located in the south eastern area of the field was spud on April 25, 2012. The well was targeting the Shagar and Rahmi reservoirs at a depth of approximately 9,320 and 9,400 feet respectively. The well was drilled to a total depth of 10,200 feet in the Upper Rudeis and logged. Interpretation of the drilling and logging information indicate the well crossed a fault resulting in the absence of the Shagar and Rahmi reservoirs. The decision was then made to plug back to 3,700 feet and sidetrack the well updip to the northeast. Sidetrack operations are currently ongoing and the well is expected to reach total depth in approximately 20 days.
Current production from the Al Amir SE and Geyad fields is approximately 9,700 bopd (970 bopd net to Sea Dragon). Cumulative production from the NW Gemsa Concession has now exceeded 8.2 million barrels of 42 degree API Crude oil.
The NW Gemsa concession is located onshore on the west side of the Gulf of Suez, some 300 km southeast of Cairo. Two main oil fields are producing light oil, the Al Amir SE field along with the Al Ola extension to the south and the Geyad field to the north.
Sea Dragon has a 10% working interest in the NW Gemsa Concession with Vegas at 50%, as operator and Circle Oil PLC with 40%.
Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In particular, statements concerning the development of the Al Baraka field and events or projections referenced or implied herein should be viewed as forward-looking statements.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, costs and timing of exploration and production development, availability of capital to fund exploration and production development; political, social and other risks inherent in carrying on business in a foreign jurisdiction, the effects of a recessionary economy and such other business risks as discussed herein and other publicly filed disclosure documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
This news release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. When used herein, words such as "intended" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions by and information available to the Company. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Actual results may differ materially from those currently anticipated. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
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 THE RELEASE.
For further information:
Said Arrata
Chairman, CEO and Director
(403) 457-5035
Tony Anton
President, COO and Director
(403) 457-5035
Olivier Serra
Chief Financial Officer and Director
+331 5343-9442
Brisco Capital Partners Corp.
Investor Relations
(403) 262-9888
North West Gemsa Production Peaks Over 10,000 BOPD
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, May 4, 2012 /CNW/ - Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") (TSXV: SDX) is pleased to announce that with the placement of the Al Amir SE-11 ST-1 on stream, production from the North West Gemsa Concession has now reached a new high of 10,100 bopd (1,010 bopd net to Sea Dragon). The company also announces that drilling has commenced and is now progressing on Al Amir SE-12 and Al Baraka #16 wells.
NW GEMSA CONCESSION
This concession is located onshore on the west side of the Gulf of Suez, some 300 km southeast of Cairo. Two main oil fields are producing light oil, the Al Amir SE field along with the Al Ola extension to the south and the Geyad field to the north.
AASE-11 ST-1 Well: This development well was successfully completed in the Shagar Reservoir and placed on a five point multi-rate production test on April 24, 2012. The well flowed at a maximum rate of 3,500 bopd on a one inch choke. The well was shut-in for 72 hours build up and is now on stream, producing 1,635 bopd on a 32/64 inch choke.
AASE-12 Well: This development well, located in the south eastern area of the field was spud on April 25, 2012. The 13 3/8" casing was run and set at 1,985 feet and the well is now drilling below 3,560 feet. The primary objectives are the Shagar and Rahmi oil-bearing sands in the Kareem Formation and the secondary objectives are the shallower South Gharib and Belayim reservoirs. The well is targeted to reach a total depth of 9,800 feet in the Upper Rudeis Formation.
Current production from the Al Amir SE and Geyad fields is approximately 10,100 bopd (1010 bopd net to Sea Dragon). Cumulative production from the NW Gemsa Concession has now exceeded 7.9 million barrels of 42 degree API Crude oil.
Sea Dragon has a 10% working interest in the NW Gemsa Concession with Vegas at 50%, as operator and Circle Oil PLC with 40%.
KOM OMBO CONCESSION
This concession is located onshore in the southern part of Egypt some 1,000 km south of Cairo. It contains the Al Baraka oilfield, producing light oil from multiple reservoirs and an exploration area of 11,400 km².
Al Baraka-16 Well (AB-16): This well was spud on April 30, 2012 and is currently drilling below 2,270 feet. AB-16 well is to be drilled to a total depth of 7,700 feet into the basement to appraise the deeper Kom Ombo "A" sands in an up dip position to the ABSE-1 producer, 6 km to southeast. Oil was also recovered from the Kom Ombo-1 well, situated 2 km to the east. The secondary objective is in the Kom Ombo "C" sands that were found oil stained in wells previously drilled on the concession.
Success at AB-16 will open the Kom Ombo "A" and "C" sands play, as several follow up prospects and development locations adjacent to AB-16, have been identified.
West Al Baraka-2 Well: The West Al Baraka-2 (WAB-2), the second oil discovery on the Kom Ombo block is currently suspended awaiting hydraulic fracture stimulation, expected to be conducted by month end.
Current production from the Al Baraka field is averaging approximately 520 bopd (260 bopd net to Sea Dragon).
Sea Dragon has a 50% working interest and is a joint operator of the Kom Ombo Concession with Dana Gas owning the remaining 50%.
Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In particular, statements concerning the development of the Al Baraka field and events or projections referenced or implied herein should be viewed as forward-looking statements.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, costs and timing of exploration and production development, availability of capital to fund exploration and production development; political, social and other risks inherent in carrying on business in a foreign jurisdiction, the effects of a recessionary economy and such other business risks as discussed herein and other publicly filed disclosure documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
This news release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. When used herein, words such as "intended" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions by and information available to the Company. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Actual results may differ materially from those currently anticipated. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
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 THE RELEASE.
Said Arrata
Chairman, CEO and Director
(403) 457-5035
Tony Anton
President, COO and Director
(403) 457-5035
Olivier Serra
Chief Financial Officer and Director
+331 5343-9442
Brisco Capital Partners Corp.
Investor Relations
(403) 262-9888
Got my package in the mail on friday and still reading about it. GLTY
Sea Dragon lands another oil producer in NW Gemsa concession
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
CALGARY, March 22, 2012 /CNW/ - Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") (TSX VENTURE: SDX) is pleased to provide the following operational update for its NW Gemsa and Kom Ombo concessions in Egypt.
NW GEMSA CONCESSION
This concession is located onshore on the west side of the Gulf of Suez, some 300 km southeast of Cairo. Two main oil fields are producing light oil, the Al Amir SE field along with the Al Ola extension to the south and the Geyad field to the north.
AASE-11 ST-1 Well:
This development well was spud on February 5th, 2012 to appraise the northwest extent of the field. The well was drilled to a total depth of 9,600 feet and then sidetracked to the southwest. The sidetrack was successfully drilled to a total depth 11,160 feet in the Upper Rudeis Formation. Petrophysical analysis indicates the well encountered 42 feet of oil pay in the Shagar reservoir and 22 feet in the Rahmi reservoir.
The well is being completed in the Shagar Reservoir in the interval 10,730 feet to 10,780 feet and should get support from the AASE-7 water injection well located 1.3 km to the south. It will be placed on stream soon and should contribute to ramping up concession production towards the 10,000 bopd target.
Following the well completion the rig will move to drill the AASE-12 infill development well, located in the southern part of the field approximately 820 m northeast of the producing Al Ola-1 well, and 850 m southwest of AASE-5 producing well.
Production:
The Al Ola development lease was approved by the government on February 19, 2012 allowing the two Al Ola wells to resume production at a combined rate of 1,800 bopd. Current production from the Al Amir SE and Geyad fields is approximately 8,340 bopd (834 bopd net to Sea Dragon). Cumulative production from the NW Gemsa Concession has now exceeded 7.5 million barrels of 42 degree API Crude oil.
Water Injection:
The Al Amir SE-10 well has been completed in the Rahmi reservoir as the fourth water injection well in the NW Gemsa Concession. Water is currently being injected at a rate 1,230 barrels per day.
With the Al Amir SE-10 on line, water is being injected at a current rate of 21,000 bwpd. Cumulative injection to date has exceeded 2.0 million barrels.
Sea Dragon has a 10% working interest in the NW Gemsa Concession with Vegas at 50%, as operator and Circle Oil PLC with 40%.
KOM OMBO CONCESSION
This concession is located onshore in the southern part of Egypt some 1,000 km south of Cairo. It contains the Al Baraka oilfield, producing light oil from multiple reservoirs and an exploration area of 11,400 km².
The ECDC Rig-1 has now been contracted and is currently being mobilized to the Kom Ombo Concession to kick off the five well drilling program (three development and two exploratory wells). The first well to be drilled is the West Al Baraka-2 (WAB-2) exploratory well, located approximately 9 km southwest of Al Baraka field.
West Al Baraka structure is a large structure with an estimated oil in place of 75 mmbo in the shallow Abu Ballas target, which was found to be oil stained in previously drilled wells on the structure and is producing at Al Baraka Oilfield. Secondary target is in the Six Hills, also productive at Al Baraka. The next well, AB-16, will be drilled on the Al Baraka development lease to appraise the Kom Ombo sands 6 km NW of the ABSE-1 well Kom Ombo A sand producer, on a rotated fault upthrown from the Al Baraka field.
Current production from the Al Baraka field is averaging approximately 550 Bbl/d (275 Bbl/d net to Sea Dragon).
Sea Dragon has a 50% working interest and is a joint operator of the Kom Ombo Concession with Dana Gas owning the remaining 50%.
Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In particular, statements concerning the development of the Al Baraka field and events or projections referenced or implied herein should be viewed as forward-looking statements.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, costs and timing of exploration and production development, availability of capital to fund exploration and production development; political, social and other risks inherent in carrying on business in a foreign jurisdiction, the effects of a recessionary economy and such other business risks as discussed herein and other publicly filed disclosure documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
This news release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. When used herein, words such as "intended" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions by and information available to the Company. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Actual results may differ materially from those currently anticipated. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
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 THE RELEASE.
Said Arrata
Chairman, CEO and Director
(403) 457-5035
Tony Anton
President, COO and Director
(403) 457-5035
Olivier Serra
Chief Financial Officer and Director
+331 5343 9442
Brisco Capital Partners Corp.
Investor Relations
(403) 262-9888
Sea Dragon lands another oil producer in NW Gemsa concession
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
CALGARY, March 22, 2012 /CNW/ - Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") (TSX VENTURE: SDX) is pleased to provide the following operational update for its NW Gemsa and Kom Ombo concessions in Egypt.
NW GEMSA CONCESSION
This concession is located onshore on the west side of the Gulf of Suez, some 300 km southeast of Cairo. Two main oil fields are producing light oil, the Al Amir SE field along with the Al Ola extension to the south and the Geyad field to the north.
AASE-11 ST-1 Well:
This development well was spud on February 5th, 2012 to appraise the northwest extent of the field. The well was drilled to a total depth of 9,600 feet and then sidetracked to the southwest. The sidetrack was successfully drilled to a total depth 11,160 feet in the Upper Rudeis Formation. Petrophysical analysis indicates the well encountered 42 feet of oil pay in the Shagar reservoir and 22 feet in the Rahmi reservoir.
The well is being completed in the Shagar Reservoir in the interval 10,730 feet to 10,780 feet and should get support from the AASE-7 water injection well located 1.3 km to the south. It will be placed on stream soon and should contribute to ramping up concession production towards the 10,000 bopd target.
Following the well completion the rig will move to drill the AASE-12 infill development well, located in the southern part of the field approximately 820 m northeast of the producing Al Ola-1 well, and 850 m southwest of AASE-5 producing well.
Production:
The Al Ola development lease was approved by the government on February 19, 2012 allowing the two Al Ola wells to resume production at a combined rate of 1,800 bopd. Current production from the Al Amir SE and Geyad fields is approximately 8,340 bopd (834 bopd net to Sea Dragon). Cumulative production from the NW Gemsa Concession has now exceeded 7.5 million barrels of 42 degree API Crude oil.
Water Injection:
The Al Amir SE-10 well has been completed in the Rahmi reservoir as the fourth water injection well in the NW Gemsa Concession. Water is currently being injected at a rate 1,230 barrels per day.
With the Al Amir SE-10 on line, water is being injected at a current rate of 21,000 bwpd. Cumulative injection to date has exceeded 2.0 million barrels.
Sea Dragon has a 10% working interest in the NW Gemsa Concession with Vegas at 50%, as operator and Circle Oil PLC with 40%.
KOM OMBO CONCESSION
This concession is located onshore in the southern part of Egypt some 1,000 km south of Cairo. It contains the Al Baraka oilfield, producing light oil from multiple reservoirs and an exploration area of 11,400 km².
The ECDC Rig-1 has now been contracted and is currently being mobilized to the Kom Ombo Concession to kick off the five well drilling program (three development and two exploratory wells). The first well to be drilled is the West Al Baraka-2 (WAB-2) exploratory well, located approximately 9 km southwest of Al Baraka field.
West Al Baraka structure is a large structure with an estimated oil in place of 75 mmbo in the shallow Abu Ballas target, which was found to be oil stained in previously drilled wells on the structure and is producing at Al Baraka Oilfield. Secondary target is in the Six Hills, also productive at Al Baraka. The next well, AB-16, will be drilled on the Al Baraka development lease to appraise the Kom Ombo sands 6 km NW of the ABSE-1 well Kom Ombo A sand producer, on a rotated fault upthrown from the Al Baraka field.
Current production from the Al Baraka field is averaging approximately 550 Bbl/d (275 Bbl/d net to Sea Dragon).
Sea Dragon has a 50% working interest and is a joint operator of the Kom Ombo Concession with Dana Gas owning the remaining 50%.
Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In particular, statements concerning the development of the Al Baraka field and events or projections referenced or implied herein should be viewed as forward-looking statements.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, costs and timing of exploration and production development, availability of capital to fund exploration and production development; political, social and other risks inherent in carrying on business in a foreign jurisdiction, the effects of a recessionary economy and such other business risks as discussed herein and other publicly filed disclosure documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
This news release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. When used herein, words such as "intended" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions by and information available to the Company. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Actual results may differ materially from those currently anticipated. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
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 THE RELEASE.
Said Arrata
Chairman, CEO and Director
(403) 457-5035
Tony Anton
President, COO and Director
(403) 457-5035
Olivier Serra
Chief Financial Officer and Director
+331 5343 9442
Brisco Capital Partners Corp.
Investor Relations
(403) 262-9888
The region is a bit scary however on the upside of things there seems to be more action every day in the oil sector, more companies drilling with success! IMO
I agree! Welcome to the board!
SEA DRAGON FINDS ADDITIONAL OIL IN NW GEMSA AND
SIGNS NEW DRILLING CONTRACT FOR KOM OMBO
http://www.seadragonenergy.com/uploads/news/2012-02-08_Egypt_Operational_Update.pdf
INTERNATIONAL FINANCE CORPORATION CONSIDERS
US$40 MILLION FINANCING FOR SEA DRAGON
http://www.seadragonenergy.com/uploads/news/2012-01-31_Sea_Dragon_Announces_IFC_Financing.pdf
SEA DRAGON ENTERS INTO AGREEMENT TO ACQUIRE OIL & GAS ASSETS IN EGYPT AND ANNOUNCES AN EQUITY FINANCING
http://www.seadragonenergy.com/uploads/news/2012-01-09_Sea_Dragon_Announces_SPA_and_Equity_Financing.pdf
SEA DRAGON ENTERS INTO AGREEMENT TO ACQUIRE OIL & GAS ASSETS IN EGYPT
http://www.seadragonenergy.com/uploads/news/2012-01-08_Sea_Dragon_Enters_Into_Agreement.pdf
Define alot of volume! The two million that we had the other day! someone broke the bank with that $200 dollar purchase! lol
These are my opinions
Keep up the cheerleading.
buy about 5 million at 0.0001 so I can get out!
SEA DRAGON ENERGY UPDATES OPERATIONS AND FINANCIALS FOR THIRD QUARTER 2011
http://www.seadragonenergy.com/uploads/news/2011-11-18_Q3_2011_Financials_and_Operations.pdf
adcs is nothing more than a frozen turd!
These are my opinions
It was BS that got our volume last time!
Sea Dragon Energy closes a US$50 million loan facility and completes internal group reorganization
CALGARY, Sept. 26, 2011 /CNW/ - Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") (TSXV: SDX) is pleased to report the closing of a 5-year senior secured US$ 50 million loan facility (the "Facility") with BNP Paribas and HSBC Bank PLC.
The Facility provides the Company with access to additional capital, if and when required, as well as for future acquisitions. Capital spend program has been carried out with internal cash to date as the Company has no debt. This facility will provide increased financial flexibility.
The Company also announces that it has completed an internal reorganization resulting in the establishment of intermediate holding companies that will circulate proceeds of the financing and crude oil sales throughout the Sea Dragon group of companies to support operational needs.
The Facility includes customary provisions, borrowing base ratios and other covenants. The borrowing base is subject to routine semi-annual redetermination based on updated forecast reserves, production and receivables.
Bank Comments
BNP Paribas commented: "This loan facility endorses the management of Sea Dragon with whom we have a long established relationship dating back to Centurion Energy. Its team of talented and experienced managers is well respected and highly regarded in the oil and gas industry, and in Egypt in particular. They are very well positioned to seize opportunities in their area of focus."
HSBC commented: "We are pleased to finance a transaction in Egypt with a management team that has a strong local operational setup. This is the first such transaction in the country this year and more importantly, the first one since the Arab Spring".
Management Comments
Said Arrata, Chairman and CEO of Sea Dragon commented : "We are extremely pleased to have closed on this facility with our relationship banks. This is a strong sign that both Sea Dragon and leading oil & gas financiers are taking a positive long term view on doing business in Egypt. We are pleased to be leading the way back into the market with this financing. Both BNP Paribas and HSBC have a significant presence in Egypt. We look forward to executing on our growth strategy with their support."
FORWARD LOOKING STATEMENTS
Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In particular, statements concerning the availability of the full amount of the facility, the use of funds derived therefrom and the ability of the Company to meet all future debt covenants and coverage rations should be viewed as forward looking statements.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, costs and timing of exploration and production development, availability of capital to fund exploration and production development; political, social and other risks inherent in carrying on business in a foreign jurisdiction, the effects of a recessionary economy and such other business risks as discussed herein and other publicly filed disclosure documents. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
This news release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. When used herein, words such as "intended" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions by and information available to the Corporation. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Actual results may differ materially from those currently anticipated. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
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 THE RELEASE.
For further information:
Said Arrata
Chairman, CEO and Director
+1(403) 457-5035
Tony Anton
President, COO and Director
+1(403) 457-5035
Olivier Serra
Chief Financial Officer and Director
+331 5343 9442
Nice to see an ungagged t/a that is really rare in a pink! Looking forward to making money on this one!
Hello all What is up in EXPU land?
continue to hesitate!
WOW! Proof please!
RLMFAO Good luck with that!
These are my opinions.
" MIKP does what it does and ADCS does what it does. I do run both companies, yes, but I answer to investors"
lol ya they both scam investor!!!! lol Mark is nothing but a crook and I cannot wait to see his name in the papers!
These are my opinions!
Check the other pocket Mark you a$$! mikp is part of adcs!!!!
thoughts?
These are my opinions
nice ask 0.0002 next is 0.0003
All buys today! Nice
Someone wanted in at these low prices!!! Nice!