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ITS ALIVE!!!!!!
Hi guys been away for a while, lots of insider purchases! Nice!
We should get news of the EGPC bid round results today!!
http://www.marketwatch.com/story/transglobe-energy-corporation-successful-bidder-on-four-concessions-in-the-201112-egpc-bid-round-2012-11-06
PRODUCTION INCREASES
This Shagar oil producer was initially tested at 1600 bopd on a 24/64" choke. The well is now tied-in and producing at a stable rate of 906 bopd on 18/64" choke.
NEWS UPDATE OUT!!!!
9:25 am release from CNW Group
Egypt Operational Update
Monday, November 05, 2012
CALGARY, Nov. 5, 2012/CNW/ - Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") (TSX VENTURE: SDX) is pleased to announce the following operational update for its recent work program in Egypt.
NW GEMSA CONCESSION
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 AmirSE field along with the Al Ola extension to the south and the Geyad field to the north.
Current production from the Al AmirSE and Geyad fields is approximately 9,000 bopd gross (900 bopd net to Sea Dragon). Currently producing wells include seven Al AmirSE wells, two Al Ola wells and three Geyad wells. Cumulative production from the NW Gemsa Concession has now exceeded 9.58 million barrels of 42 degree API Crude oil.
Water injection is ongoing with three injectors currently operating at Al AmirSE Field and two injectors at Geyad Field. Current total injection rates are approximately 14,700 barrels per day. Cumulative injection to date is 5.54 million barrels at Al AmirSE and 1.14 million barrels at Geyad.
Sea Dragon has a 10% working interest in the NW Gemsa Concession with Vegas at 50%, as operator and Circle Oil PLC with 40%.
Geyad-6ST Well:
This Shagar oil producer was initially tested at 1600 bopd on a 24/64" choke. The well is now tied-in and producing at a stable rate of 906 bopd on 18/64" choke.
Al AmirSE-13 Well:
This development well was spud on October 14, 2012with the objective of appraising the northern area of the field between AASE#4 and AASE#11 wells. The well has now reached a depth of 9,888 feet and began coring the Kareem Formation. Plans are to drill the well to its projected total depth of 10,100 feet and produce the Kareem Shagar and Rahmi sands.
Al AmirSE-7 Injector Work Over:
Operations were recently conducted to reperforate and recomplete this well as a single zone Rahmi water injector. The well was previously a commingled Shagar / Rahmi injector, however differences in reservoir quality resulted in most of the water being directed to the Shagar. The workover will result in increased water injection into the Rahmi zone, where additional volumes are needed to maintain reservoir pressure, optimize production and maximize oil recovery.
Al Ola-3 Well:
Operations are underway to dually complete this injection well in the Rahmi and Shagar sands. The well has been successfully perforated in the intervals: 10,232-10,252 feet and 10,164-10,182 feet. Plans are to run a final completion string and commence water injection.
Geyad-2ST Well:
Plans are to recomplete this well in the Rahmi zone. This former Shagar producer experienced water problems due to an underlying aquifer and was shut-in late 2011. The Rahmi is to be perforated and tested in the interval 6,565-6,595 feet.
KOM OMBO CONCESSION
The Kom Ombo Concession is located onshore in the southern part of Egyptsome 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.
Current production from the Al Baraka field is averaging approximately 530 bopd gross (265 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%.
Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31738639&l=0&r=0&s=SDX&t=LIST#quaSyTqHMeXlOXc3.99
KOMOMBO HAS HIGH POTENTIAL
Besides the Mediterranean, where do you see the biggest potential for new discoveries in Egypt? You’ve been working in the Nile Delta and Ganoub el Wadi, do you believe there is significant potential for valuable discoveries there?
As an exploration specialist, I look at the South and Southwest of Egypt as places with very high potential. In the past, no one has been interested in these areas because of their remoteness. In order for a company to have an economic discovery in these areas, the discovery needs to be of a certain magnitude in order to justify establishing infrastructure in the area. Now that the Western Desert and Nile Delta have been heavily explored, the trend is starting to shift towards moving to these remote areas. I believe that Dana Gas’s Komombo discovery in Upper Egypt was very important because for many years people believed there were no hydrocarbons in this area. The same thing was being said about Southwest Egypt, and I am now very optimistic that there are substantial potential reserves in this area that have to be looked at in unconventional ways. Those parts of Egypt still need to be explored in a serious way, and I see a lot of potential for unconventional resources in the future.
http://www.egyptoil-gas.com/read_article_issues.php?AID=594¤t=true
EGPC BID ROUND HAS SOMETHING FOR EVERYONE
When you speak of the promising bid rounds in the near future, are you referring to the new Mediterranean bid round?
The bid rounds are coming from EGAS, GANOPE, and the EGPC, and that’s the beauty of it, there’s something for everyone. The major companies will be competing for the Mediterranean deepwater blocks, while the rest of the companies will be competing for onshore and shallow water blocks.
http://www.egyptoil-gas.com/read_article_issues.php?AID=594¤t=true
EGPC TO ANNOUNCE BID ROUND IN A FEW DAYS
Kamal said he expected the government to announce long-delayed results of an oil and gas exploration licensing round within "a few days" after receiving 25 bids from companies including Chinese and other Asian firms.
http://touch.chicagotribune.com/#section/-1/article/p2p-72688713/
SDX.V undervalued oil company DD with links
1) O/S shares 376 million
Insiders hold 8% of shares
Recently insiders purchased millions of shares
http://www.canadianinsider.com/node/7?menu_tickersearch=SDX+|+Sea+Dragon+Energy+
Institutional investors hold 20% of shares
2) Current production 1,225 barrels a day, CEO confirmed production increased 17% from previous year.
3) No net debt
4) 17 million barrels oil reserve
5) Partner with Danagas (billions of dollars oil and gas company)
Danagas website http://www.danagas.com/en
6) CEO Said Arrata is one of the board members of Danagas
7) Cash on hand 7.5 million dollars, 50 million dollars line of credit.
9) Book value 24 cents share price 6 cents
10) The company is planing merger or acquisition
Research report out: strong buy recommendation
http://moneytalks.net/pdfs/MM26SepFinal.pdf
New presentation from the company Sept, 2012
http://www.seadragonenergy.com/uploads/Presentations/CorporatePresentation.pdf
The company website
http://www.seadragonenergy.com/
ihub board link
http://investorshub.advfn.com/Sea-Dragon-Energy-Inc-TSX-SDX-20234/
Further expansion to other regions
This is SDX's plan
> North Africa, (Libya, Tunisia) > Central African Rift play (Sudan, Kenya, Uganda, Tanzania, Mozambique) > West Africa Turbidite play (Ivory Coast, Cameroon, Gabon)
http://www.seadragonenergy.com/uploads/Presentations/CorporatePresentation.pdf
Did anyone listen to the AGM online?
updates?
Anyone attending the AGM?
AGM set for Sept 26, 2012, 3:00 pm
Annual General and Special Meeting of Shareholders
Wednesday, September 26, 2012
3:00 pm Calgary Time
Viking Room
Calgary Petroleum Club
319 – 5 Avenue SW
Calgary, Alberta
http://www.seadragonenergy.com/default.asp?mode=eventdetails&id=4
7's printing!
SDX worth a look, huge insider purchasing.
Egypt nears oil round results
https://research.tdwaterhouse.ca/research/public/Markets/NewsArticle/1314-L5E8KP6TM-1
keep up the good work! Getting ready to explode!
Nice!
Either would be nice!
Insiders are purchasing millions of shares, something is about to happen!IMO
INSIDERS PURCHASED ANOTHER 153000 SHARES.
http://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=sdx&x=48&y=12
Another 18000 shares purchased by insiders!
http://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=sdx&x=0&y=0
I wonder how many shares insiders purchased today?
CEO PURCHASES WELL OVER 1 MILLION SHARES
http://www.canadianinsider.com/node/7?menu_tickersearch=SDX+|+Sea+Dragon+Energy+
Things will get busy real soon but I agree we went from two followers to 13 in just a few short days.
SDX Insiders purchasing millions of shares since Aug 2012
http://www.canadianinsider.com/node/7?menu_tickersearch=SDX+|+Sea+Dragon+Energy+
Nice find blue, I am beginning to think that you are right. Something big going on here! IMO.
Channel don't wait too long! Good to see you!
Nice.
NICE! OVER 1/2 OF FRIDAYS PURCHASES WERE INSIDERS!
Something is going on!
Purchases by insiders have been small enough to fly under the radar. Keeping the price at a slow and steady climb. Im liking! Millions purchased is right!
Good article explaining the EGPC bid round delay.
http://www.dailystar.com.lb/Business/International/2012/Apr-14/170235-majors-vie-with-egypts-generals-over-oil.ashx#axzz26Md4OJof
Awesome.
Insider purchases are still being made.
http://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=sdx&x=42&y=15
Anyone know when we see EGPC bid round results?
Good day! Sdx getting some action...
BIG UPDATE FROM THE COMPANY
http://www.seadragonenergy.com/uploads/Presentations/CorporatePresentation.pdf