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Being that they were "waiting on completion rig" this must mean they have given up on the oil.To me this is NOT bad news,it means that we have a very significant gas well,and will probably continue by either sidetracking or starting fresh to continue to the p sand imo.
What im concenred about is that without a pr until next week explaining exactly what this means, people will think plug and abandon is something bad and there will be a selloff.I hope im wrong.The company should issue some kind of statement TOMMORROW!
plug and abandon
1. vb. [Drilling] ID: 1527
To prepare a well to be closed permanently, usually after either logs determine there is insufficient hydrocarbon potential to complete the well, or after production operations have drained the reservoir. Different regulatory bodies have their own requirements for plugging operations. Most require that cement plugs be placed and tested across any open hydrocarbon-bearing formations, across all casing shoes, across freshwater aquifers, and perhaps several other areas near the surface, including the top 20 to 50 ft [6 to 15 m] of the wellbore. The well designer may choose to set bridge plugs in conjunction with cement slurries to ensure that higher density cement does not fall in the wellbore. In that case, the bridge plug would be set and cement pumped on top of the plug through drillpipe, and then the drillpipe withdrawn before the slurry thickened.
08/28/2006 29 14287 P & A WELL This is now what it says on the sonris website.Now we can debate something beside WOCR.
It is clear from your screen names,gmoneydawg1.mikeyb.michael jordan that you come on these boards to vent. You are obviously disapointed that you are not a rap star or playing in the nba.Your not even good at bashing.
"We continue to remain VERY OPTIMISTIC with our findings SO FAR at Clovely" Take that however you may,sounds like good news is imminenet to me.
Mikes response:
Howard,
We are all aware of the condition of the hole as far as being stuck and the pressure causing problems with the hole. Our Company representatives went to Clovelly on Friday of last week. There is only one business day between then and this morning. We were informed of the conditions, what we have, what we might have, and what we hope to have with regards to the No. 2 well. We were also given numerous options on how to go forward from here as they all have different costs and risks associated with each. They also have different timelines, and different payout possibilities. There are 15 shareholders on this property, and all the partners need to be advised of the options. This may take a few days. Once a decision is made as to which method is best, we will announce that information. But until such time, we cant disclose any further. We continue to remain very optimistic with our findings so far at Clovelly.
I do apologize for not getting back to you yesterday. I was working on the website and making changes. I am new to that game so it took me all day. Photos from Clovelly are there at www.mrhi.net if you want to view them.
Mike
I emailed Mike this morning and recieved a response.I posted this on rb,but im having a problem with the site.Lo,what else is new.I will post my message to him and than his response.
My message to him:
Mike,
While i am thrilled about the new aquistion and am pleased with the direction of the company i must say i am very dissapointed that its been over 2 weeks and there is still no update on Clovely. There are a lot of unanswered questions. You alluded to significant gas pressure.How much gas? Are you still going to sidetrack for oil? Do you have to drill a new hole? These are only some of the questions that myself and other mxxr shareholders have been asking. People are getting antsy,this needs to be adressed asap.I have almost 1 million shares and am anxious to know what we can expect from Clovely.
Howard
Taking a different approach i see.I guess"THIS IS GOING TO TANK" AND "I HOPE THE EYE OF THE HURRICANE HITS CLOVELY" wasnt getting it done. The people who pay you to bash must have told you to try a different apparoach.
Go kill yourself,
Howard
Hi dawg,you really should be in therapy.
I already called it,lol. He is a fraud,he can go play with levelplayingfield.Cardinal Relentless was very qick to give him credit,figures.
I call bullshit on you.No one in their right minds buys 50,000 shares of a stock and in the very next post says what you did.I sense we have a more creative basher among us.
Exactly.I truly believe they are going to tap into the gas and then continue to td for oi.
I couldnt disagree more.
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By: howardfl_4
28 Aug 2006, 12:35 PM EDT
Msg. 3432 of 3440
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Here is the reponse i recieved (message 3426).
Howard,
Unfortunately, until we have an outside public relations company assist us with such duties, we are stuck with our operator(s) and our attorneys writing these correspondences. Our counsel really dislikes sales type press releases. She takes those items out every time. However, we have engaged with a Pr firm and they should be online in the next month or so to fully take on the function of handling consumer, investor, media, and shareholder awareness. They are not an IR firm but a Pr firm. Therefore, in the near future, they will improve. As far as being able to explain some of these questions and concerns that our shareholders have, we will most likely draft and disseminate a letter to the shareholders that will explain in detail what we have acquired, plan to do with them, and what we expect out of them. Before we can do this, we have one maybe two more announcements to release so they maybe included in such letter. I would expect this to be ready by some time next week, and will most likely be mailed to our shareholders and uploaded on our website.
Thank you for taking the time to write to me, and thank you for the time to listen. Also, enclosed on the next email are a few photos of the rig at Clovelly we took and we will upload them on our website, hopefully today.
Mike
Just got a message back from ir. I copy and pasted part of one of bmiles messages and a couple of questions of my own.First i will post the message i sent,than the reply.The heading of my message was "what should have been included in todays pr".
It should have stated -
1. The value of the reservoir
2. The annual revenue rate anticipated from this one well
3. What annual revenue rate they anticipate by year end if the additional offset wells are successful.
We were told last week that you were going to update the website.When do you plan on doing so? When can we expect some knid of update in regards to Clovely?
Howard
So go buy it and get lost.
Cellstik=mikeyb=howardfl_5=gmoneydawg1=one sorry pos.
Howardfl_5=mikeyb=gmoneydawg1
For those who havent figured it out yet.
How flattering the pathetic little pos is obsessed with me.For those who may not post on raging bull,i am howardfl_4 over there.This maggot is so scared of the impending northward movement of this stock that he is literally FREAKING OUT. His entire social life is at stake.I mean really,ive seen plenty of bashers, but who the hell makes post after post as if he was on drugs or something.This may sound a little harsh,but i hope he dies.His immediate family probably wouldnt even miss him.
Lol,the unemployed wannabe rap star is getting desperate,he knows whats coming.
Figures,leave it to Aol to jump the gun.That means without any disruptions next week could very well be the week weve all been waiting for.After back to back meetings 2 days in arow they should hae a lot to tell us.
I meant that i fully expect a pr tommorrow not a temporary shutdown,we still dont know if the storms definitely hitting the us.
I would think they would make any temporary shutdown part of the pr tommorrow which i fully expect.A pr with an update on Buck Snag and where they are at with Clovely i expect by 8:00 eastern time tommorrow.
Hollywood is there anyway you could copy and paste the gw info on storm protocol. I think its a good idea since bashers will just use it as another negativism.I dont waNt to have to read posts like"THE RIG IS GOING TO BLOW AWAY JUST LIKE DOROTHYS HOUSE IN THE WIZARD OF OZ".
Thanks Bmiles and Hollywood.
I should say "if" the storm hits.
Or better yet,if they hit td by the time the storm hits what happens then?.I hope these arent stupid questions,i really have no idea. Anyway,i would expect updates on both properties Mon Morning.
Brad are you at all concerned about Ernesto? I assume the worst that would happen even if the storm becomes a cat3 is that they would secure the rig and drilling would be shut down for a few days?
I suggest we get as many people as possible to join the new board and congregate there starting Mon. If its moderated like they say it is it will make for a much more pleasant atmosphere than here or rb.jmo.
Looking forward to next week.
You really are a sad little man. How it must suck to be you.
Scary stuff,between this story and the tropical storm which could be a hurricane by Mon,oil should go through the roof next week.Cmon mxxr give us the black gold.
Iran launches new nuclear project By Parisa Hafezi
1 hour, 41 minutes ago
ARAK, Iran (Reuters) - Iran's president launched a new phase in the Arak heavy-water reactor project on Saturday, saying Tehran would not give up its right to nuclear technology despite Western fears it aims to make atomic bombs.
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President Mahmoud Ahmadinejad was speaking just days before an August 31 deadline set by the U.N. Security Council for Iran to halt uranium enrichment -- the West's biggest worry in Iran's atomic program -- or face possible sanctions.
"No one can deprive a nation of its rights based on its capabilities," Ahmadinejad said in his speech to inaugurate the heavy water project.
The Arak project, once complete, will produce plutonium as a by-product that could be used to make atomic warheads. But the reactor that will produce this is still being built.
Western nations accuse Iran of seeking to master technology to produce nuclear weapons. Iran, the world's fourth largest oil exporter, insists it only wants to produce electricity.
"Iran is not a threat to anybody, not even to the Zionist regime," Ahmadinejad said, using Iran's term for its arch-enemy Israel, which the Islamic Republic does not recognize.
Although Iran faces possible sanctions if it does not heed the U.N. deadline, divisions among world powers over how to handle the Islamic republic could delay any action.
The Los Angeles Times reported Washington had indicated it was ready to form an independent coalition to freeze Iranian assets and restrict trade if necessary. Analysts say sanctions imposed by just a few states would have limited impact.
A White House spokeswoman said on Saturday the United States, Russia, China, Britain, France and Germany were consulting about Iran's response to the the package of incentives the six offered Tehran to halt uranium enrichment.
"We all share the goal of preventing Iran from acquiring a nuclear weapons capability," spokeswoman Dana Perino said.
Iran is likely to raise further fears in Western capitals by pressing ahead with the heavy-water project near Arak, 120 miles southwest of the capital Tehran.
An Iranian official said the project is not a proliferation risk because heavy water has no military use. Diplomats say it is not a constructive step.
"It's not a proliferation risk in itself, but the associated operations -- still to be constructed -- would be. And the timing seems particularly poor," said a Vienna-based diplomat familiar with operations of the U.N. nuclear watchdog in Iran.
NUCLEAR INSPECTORS
The U.N. Security Council resolution setting the August 31 deadline to halt enrichment also cited a call by the U.N. watchdog, the International Atomic Energy Agency (IAEA), for Iran to reconsider building its heavy water reactor project.
The Arak complex was protected by dozens of anti-aircraft guns and surrounded by a four-metre high barbed wire fence. Photographers and TV journalists were asked not to take any images except in areas where they were specifically permitted.
The head of Iran's Atomic Energy Organization, Gholamreza Aghazadeh, told the students' ISNA news agency that IAEA inspectors would visit Arak next week.
Inspectors routinely visit Iranian facilities but diplomats say a group was recently denied access to an Iranian underground site. Iran denies hindering routine access but earlier this year stopped allowing snap checks of its facilities by inspectors.
The West's main concern is Iran's program for enriching uranium, a process that can be used to make fuel for nuclear power stations or material for bombs.
But Iran has so far refused to stop the work and shrugged off the threat of sanctions, saying it would push already soaring oil prices higher still, hurting industrial nations.
Iran's deputy parliament speaker, Mohammad Reza Bahonar, warned the West in comments published by Iran's Sharq newspaper on Saturday that putting pressure on the country could prompt public calls for Iran to pursue a weapons program.
"Be afraid of the day that the Iranian nation comes into the streets and stages demonstrations to ask the government to produce nuclear weapons to combat the threats," he said.
Iran, responding to the incentives offered by the six world powers, has only hinted it might be ready to consider halting uranium enrichment as a result of talks, not as a precondition. The reply seemed designed to divide opinion among the six powers.
The United States has warned of swift action on sanctions. Britain, Germany and France have been less conclusive in public. But Russia and China, both trade partners of Iran, have been unwilling and could veto sanctions in the Security Council.
(Additional reporting by Alireza Ronaghi in Tehran, Eric Beech in Washington, Mark Heinrich in Vienna and Tabassum Zakaria in Kennebunkport, Maine)
Charlie,dont bother giving a rational response to this pos basher.Its incredibly obvious he is gmoneydawg1 from rb. He never owned nor will own any shares of mxxr.Of course once the pps explodes he will say he is now long and has 500,000 shares or so.
Mikeyb wannabe rap star=gmoneydawg1 wannabe rap star.
PR either after the close or first thing Mon morning i would expect.Probably makes more sense to wait until Mon.
The pos is back up,lol.
Looks like people are buying @ .06,lol.
This just posted on rb,someone who was in the oil business.
By: kel104852
24 Aug 2006, 12:50 PM EDT
Msg. 2908 of 2908
Jump to msg. #
I see a lot of speculation on the stuck pipe issue here and time lines for hitting TD. First the double cement plug issue (mind you I have no first hand knowledge of this particular situation, only past experience)the first plug was to contain the gas pressure but the additional plug would be set at the point of the sidetrack if you had to leave part of the drill string in the hole. Secondly since you know of the gas pressure and the mud weight to hold it back you could continue to drill to TD without casing the hole, although this could be dangerous if you hit a loss circulation zone but would be far cheaper and faster. Third the penetration rate at that depth could be a lot slower than what is speculated here but since I haven't drilled in this particular area I can't say for sure. Forth on a fishing job you can't put a time line on it. I have been on them from 1 day and others for 9 months. This one seems pretty straightforward and we should have some positive news soon. Fifth, as for future holes in this area, typically you invest in the lease not the well (although a single well in a field can be invested in but it is unusual)more likely is an option to continue as a partner in future wells. Sixth, is the number of wells you can drill on a parcel depends on the state laws. Usually it is every 40 acres, but this number isn't fixed and you can petition the state for reduced spacing also different zones play a role in spacing. Sorry for the length of the post but I hope it helps with understanding the sector you are putting your money in.
I have to agree with Bmiles on this one. It doesnt make sense for mxxr,grey wolf and oxr all to meet at the site to simply announce that the drill bit has been removed! I would be very surprised if that was the case.
I understand thisdoesnotworks point,but its hard not to get excited
Your post smacks of desperation.
AMERITRADE IS WORKING FINE,SORRY BASHERS.PLEASE FIND SOMETHING ELSE TO OBSESS ABOUT.
Excellent news,one less thing to worry about.Bashers can no longer make it an issue.