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I´d better get me a Chateau in South of France when MMT hits a buck ! I can see it now: "Chateau Le Mart" LOL
LOL. there it goes again, up 11% as we speak. I sure hope 10bagger soon misses his sold shares
the new reserves figures must be a hotty...
not enough cash. had to choose between MERC and TMB
MERC: amazing its down on a super day for all pulps. Glad I didnt load up on MERC, just on CFX.UN and TMB
AAA up 17% on "Cormark Securities Initiates Analyst Coverage on Allana Potash " - Anyone can see their price target??
Cormark Securities Initiates Analyst Coverage on Allana Potash
Anyone can see their price target??
CFX.UN slowly crawling to new high too. It´s ready to break out once it confirms distribution hike probably next week
DigiTech,
I have to disagree with qualifying MMT as "medium risk" as opposed to ATPG.
MMT is high netbacks, low risk development with very soon to be very clean balance sheet, how can you call that riskier than an insanely endebted company in the Gulf of Mexico waiting for hurricane season to kick in?
risk/reward is nicer in holding MMT here IMHO
IAE.V: looks like we hit the jackpot!!!
Ithaca Energy Inc. - Ithaca Energy Inc.: Stella Appraisal Exceeds Expectations
RNS
FOR: ITHACA ENERGY INC.
AIM, TSX VENTURE SYMBOL: IAE
April 15, 2010
Ithaca Energy Inc.: Stella Appraisal Exceeds Expectations
LONDON, UNITED KINGDOM and CALGARY, ALBERTA--(Marketwire - April 15, 2010) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Ithaca Energy Inc. (TSX VENTURE:IAE)(AIM:IAE) and its wholly owned subsidiary Ithaca Energy (UK) Limited ("Ithaca" or "the Company"), an independent oil & gas company with exploration, development and production assets in the UK sector of the North Sea, is pleased to announce that the Stella field appraisal well (30/6a-8) has proved the presence of significant additional volumes of hydrocarbon and excellent quality reservoir. A successful Drill Stem Test ("DST") has been performed providing critical information for development planning to now commence.
Well 30/6a-8 was drilled to appraise a large down flank extension of the Stella field, located in the Central North Sea, and well operations to date have satisfied all key objectives. The total measured hydrocarbon column height is now in excess of 820 feet, significantly increasing reserves beyond those previously independently assessed. The well confirmed hydrocarbons more than 500 feet lower than in any previous wells and this has demonstrated that connected hydrocarbons are present in the field down to the geological spill.
Wireline logs indicated the proximity of a hydrocarbon water contact, identification of which satisfies one of the objectives of the well. As part of the DST operation both the oil and the water bearing sections of the reservoir were deliberately perforated to extract essential samples required for development planning purposes.
On test the well flowed in excess of 5,000 barrels of liquid per day (oil plus water) consisting of 2,850 barrels of light oil (39 degrees API) per day and 2,150 barrels of water per day. A prolonged and stabilized flow period was achieved and flow rates were significantly limited due to restrictions of the equipment on board the drilling rig.
The well intersected a 22.5 foot section of Paleocene Andrew sandstone reservoir close to the mapped closure of the field, which is estimated to cover more than 22 square kilometers (approximately 5,400 acres). The excellent reservoir properties and thickness observed in this well are equivalent to wells at the crest of the Stella structure.
Appraisal wells drilled on the crest of the Stella structure produced up to 17 million standard cubic feet of gas per day and 3,000 barrels of condensate per day with no water. The light oil encountered at this new location, 500 feet deeper in the structure, is entirely consistent with predictions of gas, condensate and oil coexisting within the same reservoir.
The well will now be geologically sidetracked, as intended, to test the reservoir up-flank between this vertical bore and existing crestal wells to further investigate the quality of the reservoir and provide essential compositional information of the hydrocarbons at intermediate depths. The sidetrack will take approximately 15 days to penetrate the reservoir.
Following evaluation of the sidetrack information, the appraisal phase of the field will be complete and Ithaca will be ready to move to a full scale development of Stella and satellite discoveries using one of several development options for the Greater Stella Area. Stella first oil and gas production is anticipated in 2012.
Prior to testing, the well was drilled into the Ekofisk Chalk formation which underlies the main Stella accumulation. The penetration of the chalk reservoir was below the known oil water contact, but pressures taken confirm the lateral extent of reservoir formation. The Ekofisk Chalk formation will be penetrated again during the drilling of the sidetrack.
Nick Muir (Chief Exploration Officer) commented:
"This is a great moment for Ithaca. The results of this appraisal well have proved very sizeable additions to the hydrocarbons originally encountered in the Stella discovery. The field is clearly even more significant than we thought and the results of this well and the test have exceeded all our expectations. Stella can now go forward as a standalone but expandable development that will allow for the future tieback of other Ithaca operated discoveries in the Greater Stella Area, such as Harrier and Hurricane."
"The development of Stella is a key part of building Ithaca's production and revenues over the next few years. Other near term projects include Athena, with production expected in 2011, and increases in production as a result of additional workovers on the Beatrice field this year".
Further information is available on the Company website: http://www.ithacaenergy.com/StellaWell.asp
Current Joint Venture Partners in block 30/6a (Stella and Harrier) are Ithaca (68.33%), Dyas UK Ltd (31.67%). Post completion of the farm out to Challenger Minerals (North Sea) Limited ("CMI") interests will be Ithaca (50.33%), Dyas UK Ltd (31.67%), CMI (18.00%).
The well was drilled using the GSF Galaxy II harsh environment deep water jack-up rig, owned by Transocean Inc. and managed by the services of Applied Drilling Technology International ("ADTI").
In accordance with AIM Guidelines, Lawrie Payne, MA Marine Geology (Alberta & Columbia) and Chairman of Ithaca Energy is the qualified person that has reviewed the technical information contained in this press release.
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
Forward-looking statements
Some of the statements in this announcement are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of Ithaca Energy Inc. or its officers with respect to various matters. When used in this announcement, the words "expects," "believes," "anticipate," "plans," "may," "will," "should", "scheduled", "targeted", "estimated" and similar expressions, and the negatives thereof, whether used in connection with the estimated production levels, anticipated time of first oil or otherwise, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcome to differ materially from those suggested by any such statements. These forward-looking statements speak only as of the date of this announcement. Ithaca Energy Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based except as required by applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ithaca Energy: Iain McKendrick, CEO imckendrick@ithacaenergy.com +44 (0) 1224 650 261
OR
Ithaca Energy: Nick Muir, CXO nmuir@ithacaenergy.com +44 (0) 1224 650 267
OR
Ithaca Energy: John Woods, CDO jwoods@ithacaenergy.com +44 (0) 1224 650 273
OR
Pelham Bell Pottinger: Philip Dennis pdennis@pelhambellpottinger.co.uk +44 (0) 207 337 1516
OR
Pelham Bell Pottinger: Elena Dobson edobson@pelhambellpottinger.co.uk +44 (0) 207 337 1517
OR
Cenkos Securities plc: Jon Fitzpatrick jfitzpatrick@cenkos.com +44 (0) 207 397 8900
OR
Cenkos Securities plc: Ken Fleming kfleming@cenkos.com +44 (0) 131 220 6939
Neither TSX Venture 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.
Ithaca Energy Inc.
that its not just that they are not moving... that they are red and bruised and that makes todays move in AAA the more epic. nice talking to you too here ( greetings from aerofag )
not moving??? all the goddamn Junior potash companies on my watch list are RED !!!
CEO named like a member of the Sopranos + Northern part of Mexico
I mainly used Le Monde newspaper since I could exchange the Euros for great food and wine !
MMT +17% !!!! a good return from my French holidays !
and drilling supposed to finally start next week...let the fun begin!!!
ah..stockhouse, usually better for getting virus than reading good informative posts. the rule of thumb with stockhouse is to run away from the stock if the board is too crowded with crap posters. MMT´s board is rather calm and good quality, a good omen...
where´s that MMT message board? couldnt find it neither on SI or IV
Thats why I said if you come to think, that article might be even positive for Mart. Take away some fields from majors and give them to Nigerian companies like MMT´s partners and we might end up with some new field to earn in. Wade goes by the nickname of Prince Wade in Nigeria by the way.... corruption is a plus when you are in bed with government :)
yeah, morons can be found almost everywhere...
Investors village has a very good board on MMT. It has all the value posters that were all over IAE when it was 50 cents...
http://investorvillage.com/smbd.asp?mb=12706&pt=m
10 bagger, thats right. If ones get to think about it and looks at MMT business approach that article is even a positive for MMT !!!
Digitech, you dont have to convince me, I have tons of MMT bought around 15 cents. Was just pointing out what others "see" here: Nigeria, too many shares, lousy management is another complaint.
but the longer the value is not seen here, the better to those who want to accumulate on the cheap!
I use US dollar bills and Euros
MMT.V/MAUXF.pk Right about the share count. Hope not to get the warrants to convert to more shares. A lot of people is put off by the huge float (+300M) and being a Nigeria play
Neither are they to start using recycled paper to print documents or wipe their asses!
8.21
trading like a turd so far
Yes, I thought exactly the same. If they try a little harder I´m sure they will succeed selling the shares at 7 bucks like they did to Sentient while the stock was at 15.
from RBC today, I did not heard about problems in Finland before
Canfor Pulp Income Fund (CFX.UN) - $11.01 - Units and Distributions Set to Move Higher on Pulp Supply Issues
Outperform, Above Average Risk, Price Target: $13.00 (prev. $11.00)
RBC CM increased its 2010 pulp price forecast to US$900/mt as already tight market conditions look to get even tighter with supply disruptions in both Chile and Finland. This raises RBC CM’s 2010 distributable cash estimate to $2.14 per unit, suggesting the Board will raise monthly distributions in Q2. As the company must convert to a corp by the end of the year, we believe that the unit price will reflect a high yield, say 15%-16%, suggesting that units move above the $13 mark.
Nuts, have you run any numbers on what type of eranings/distributions we might be looking at once we effectively hit a $200 increase per tonne going forward?
Avion Exploration Update
DJAMBAYE II MINERALIZED STRUCTURE EXTENDED TO 2,500 METRES - STILL OPEN ALONG STRIKE AND TO DEPTH
NEW GOLD ZONE PARALLEL TO DIOULAFOUNDOU DISCOVERED
Press Release Source: Avion Gold Corporation On Tuesday March 2, 2010, 9:02 am
TORONTO, ONTARIO--(Marketwire - March 2, 2010) - Avion Gold Corporation ("Avion" or "the Company") (TSX VENTURE:AVR - News), today announced that the 2010 exploration program at Tabakoto is proceeding as planned with 82 holes totaling 7,086 metres drilled as of February 24th. Recent highlights are as follows:
- Djambaye II Zone - 68 holes totaling 5,242 metres drilled. Preliminary
results expected for about 600 samples in March. Mineralized structure
traced for 2,500 metres and still open.
- New never tested 1 km+ long trend of artisanal workings discovered 200
metres west of the Djambaye II trend
- Newly excavated, NW-trending zone of artisanal workings, with abundant
visible gold, discovered 160 metres away from the NW trending
Dioulafoundou zone
Avion's 2010 Tabakoto area exploration program has been designed to comprise approximately 60,000 metres of core and RC drilling. Exploration work to date has focused on the recently discovered Fougala 1 zone (Avion News Release Jan. 18, 2010) and along a 700 metre long section of the Djambaye II trend where the Dajmbaye II zone is represented by two, closely spaced, higher grade gold zones. This area has the potential to provide open-pittable gold mineralization.
Avion's drilling has also traced the Djambaye II mineralized structure for another 700 metres to the north for a total drilled length of 2,500 metres. This mineralized trend, which is open to the north, south and at depth, will be further tested with widely spaced holes along strike and to 200 metres depth.
Field reconnaissance 250 metres west of the Djambaye II zone area has identified a parallel, northerly-trending zone of artisanal workings that can be traced for just over 1,000 metres. Both current and historic artisanal pits to 8 metres depth were observed, containing significant amounts of quartz vein debris and well mineralized rock. Rerverse circulation drilling is planned to test this target.
A new, northwest-trending zone of artisanal pits and shafts was discovered in the Dioulafoundou area. Artisanal miners are recovering fractured and mineralized felsic intrusion with abundant visible gold. This target area is located 160 metres from the known northwest-trending Dioulafoundou zone (see figure). Additional review will be carried out with a goal to drill test this new target area.
The 2010 drill program is designed to test a series of conceptual targets on the property, extend known zones and test in detail known zones that could be developed into open pittable deposits.
Hounde Property Exploration
Upon signing a definitive agreement Avion plans to carry out an airborne geophysical magnetic and radiometric survey of the property. Data from this survey will be used in conjunction with historic drill, geochemical and geological data to develop new drill targets, the best of which Avion plans to test in 2010. Drilling is also planned to further test the known zones, especially the Vindaloo zone; this zone, which has only been tested to a depth of less than 100 metres along a 400 metre strike, has a best intersection of 8.91 g/t Au over 29.0 metres and an average grade of 4.71 g/t Au over 21.0 metres core length. Mineralization remains open along strike and at depth. True width is estimated at 70% of core length. More than 7,000 metres of drilling is planned for this property in 2010.
Don Dudek, Senior Vice President, Exploration commented: "The expanded 2010 exploration program will allow Avion to delineate known zones and test numerous new exploration targets that have been developed as a result of Avion's increasing knowledge of the mineralized zones and systems in the property area. As well, in conjunction with the recently acquired Hounde property, Avion will have further opportunities to increase the overall resource base"
Don Dudek, P.Geo., Senior Vice President, Exploration of Avion has reviewed and approved the technical data presented in this press release.
About Avion Gold Corporation
Avion is a Canadian-based gold company focused in West Africa. The Company holds 80% of the Tabakoto and Segala gold projects in Mali. Gold production at these projects has commenced, with approximately 100,000 ounces of production forecast for 2010. Avion has a highly skilled management team, with a focus on growth and consolidation within West Africa.
Cautionary Notes
The quantity and grade of reported inferred resources are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the impact of the results on the Company; statements with respect to the development potential and timetable of the Mali projects; the future price of gold; the estimation of mineral resources; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company,: which is available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/avr301fig1.pdf
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Contact:
Rene Bharti
Avion Gold Corporation
Vice President Business Development
(416) 861-5913
rene@aviongoldcorp.com
no idea. time to call Mr. Koven
Philip Koven
Investor Relations
Northstar Healthcare Inc.
(416) 447-4740 Ext. 235
info@northstar-healthcare.com
Ithaca Energy: 'We Are on the Acquisition Trail'
by Jason Douglas
Dow Jones Newswires 2/26/2010
URL: http://www.rigzone.com/news/article.asp?a_id=88482
LONDON (Dow Jones), Feb. 26, 2010
North Sea-focused oil and gas company Ithaca Energy Inc. Thursday said it is seeking acquisitions to increase its production and reserves.
"We are definitely on the acquisition trail," Chief Executive Officer Iain McKendrick told Dow Jones Newswires.
McKendrick said Ithaca is seeking to acquire production assets or near-term development projects to add to its portfolio of five core assets in the North Sea. It is seeking assets where it would be the operator, he said.
Ithaca has cash and debt available to fund any deals and it is a buyer's market, McKendrick said.
"There's a lot of stuff for sale out there", he said. ENI S.p.A. (ENI.MI) is reportedly seeking to sell assets in the North Sea, and McKendrick said others are also privately casting round for buyers.
Ithaca is eyeing both assets and companies, he said, and is prepared to join a consortium to enable it to make bigger deals if desired.
"We are not scared of acquiring something which is the same size as our market capitalization," McKendrick said. The company currently has a market value of 252 million Canadian dollars ($237 million), according to FactSet.
Ithaca is currently carrying out appraisal drilling at the Stella gas condensate project in the North Sea, and results should be known in late March or early April. Current estimates put proven and probable reserves there at 8.94 million barrels of oil equivalent.
It also has interests in the Athena and Carna discoveries, and produces oil from the Beatrice field in the Moray Firth.
Its not larger, its actually smaller thatn anticipated. read the last filling
Thats what happens when you go to bed with the "partner from hell" as Rob McEwan named Hoschild, should have known better and sold out the moment they got in GDMN´s shareholder base
The lower end would be 9.45 ( -10% 10.50) according to yesterday´s filling. I wonder why anyone would be selling at 9.05
Maybe fuc*in g Hoschild trying to get a better deal?
sure stinks
and the clowns at management are sure silent!
GDMN on fire sale at 9.44 !!!
kozuh, re: "GDMN it" ... ???
My broker put it back as GDMN
No more AMEX so far
Good to see you want to move to Spain!
YES!!!,Spain is now bankrupt...but consider this:
1 out of every 4 cocaine lines done in Europe are done in Spain
1 out of every 3 laugh joints done in Europe are done in Spain
I just sent a report to our great authorities pointing to the simple solution for the deficits: legalize drugs and tax them as booze or tobacco
(and so quit f around with decent innocent and clean investors who would never do drugs or engage in conversations with Texan crack adicts)
I also included a Texas Constitution and your twin sister picture on the report to our Presidente!
Since you always seem to be so "high"...
I know you can easily become our "Salvador"...
new products and revenue sources from kozuh is what we need !!!
Wellcome Mr. Marshall!!!
GDMN: doesnt seem a good time to raise money even for big guys...
http://dealbook.blogs.nytimes.com/2010/02/10/no-gold-rush-for-paulsons-fund/
GDMN: Anything new on your TDAmeritrade Command Center ? almost 2 weeks gone now