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This new stock tip came from Junglrulz on XXrayeyes' board. Thanks jungle!
SMXT DD
INVESTOR DD--
13M OS
6M float
50% inside
tiny float tightly held
minimal volume will make this fly
$14M assets
$11.5M back orders
MAJOR PR due next week(look for a bonus PR tomorrow) announcing CONSIDERABLE new contracts(verified)
30% margins
approx. $1 a share in revs WITHOUT new order
calculated with a VERY conservative P/E of 10
thats over $3 a share
business divided, 60% onshore, 40% offshore
250 employess
4 locations
New state of the art 100,000 sq. ft. plant
20 year lease
HIGH TECH OIL GAS SERVICES
...major player in North Sea
$2B government investment plan for infrastructure
...aggressive new marketing campaign began last qtr.
...services equally divided between off shore gas and oil projects, and onshore industrial and government projects
four divisions....
construction services
maintenance and service
production
post-tensioning***patent held for off shore rigging
website
http://www.simextech.com/about.htm
FINANCIALS---
DO NOT include any of April's new contracts totaling
$11.5M
...and obviously DOES not include multi $M's from PR due next week
http://www.sec.gov/Archives/edgar/data/1089499/000095014401502362/0000950144-01-502362.txt
STATE OF THE ART OIL AND GAS SERVICES COMPANY
unaffected by US energy policies
based in Norway
North Sea one of the biggest producers in the world
current backlog will keep them humming for the foreseeable
future
new 100,000 sq. ft. plant has capacity to handle new business
Mr. Jagelid holds a key patent used in tension wiring on off shore rigs
M. Jagelid, the founder and President has been approached by multi-national companies looking to acquire Simex, but he
has refused as he knows the company is severely undervalued, and he continues to grow the company and for
shareholders through expansion of business and continuing new contracts...several of which are multi-year service
contracts, ensuring continued and future revenues
North Sea OG expansion projects that contribute to sales..
In his award-winning standard book on the world history of oil, "The Prize", author Daniel Yergin describes the discovery of
oil and gas in the North Sea as the "biggest play" so far in the history of petroleum - in other words bigger, and from an
energy-strategy viewpoint more significant than the finds in the Middle East, South America and Alaska
all these major players need service, support and construction both onshore and off shore...SMXT provides ALL of these
services...infrastructure, they all need it
http://www.scandoil.no/index2.shtml
Norweigen state oil company
http://www.statoil.com/
Today Norway sits on approximately half of the remaining reserves of oil and gas in Europe. It covers 10 per cent of
Europe's gas consumption and within a few years will increase gas exports dramatically and account for 30 per cent of
European gas imports
http://houston.bcentral.com/houston/stories/2001/03/05/daily37.html
Norway is now preparing the development of the Ormen Lange field, a major gas field situated at a depth of 1,200 metres
in the North Sea.This extends the gas perspective northwards on the Norwegian continental shelf. An even more extended
perspective includes the Barents Sea, the arctic part of the Norwegian shelf.
http://ebooks.whsmithonline.co.uk/encyclopedia/84/P0003184.htm
Norway has a clearly defined goal: to continually simplify technology so that Norwegian oil and gas are competitive even
when oil prices are low. Norway is a member of the International Energy Agency (IEA) but not of the Organization of
Petroleum Exporting Countries, Opec. The Norwegian economy and its petroleum exports face westwards towards the
OECD area. Nevertheless, Norway, as the world's second biggest exporter of oil, has a pragmatic relationship with Opec
http://www.freeoildata.com/nsea_left.htm
Thank you Reid, I'd like that. Will try downloading it in the morning. Will you be online tomorrow if I have any questions? TIA.
2desire
TSRG buy at 4:16 p.m. 195,000 shares! Yippeeeee!!!!! I smell a gapper on Monday!
2desire
Joshua, Are you watching the run on TSRG? Hope you are still invested there. Take care!
2desire
TSRG is running!!!! Get in while you can! Good luck to those that had the foresight to get in lower.
2desire
Attention! IOAG up .07 on 3,000 volume. TSRG in accumulation. Getting ready to run! IMHO.
2desire
IOAG mentions TSRG in their pr this morning.....
International Oil & Gas Retains OTC Financial Network to Direct Investor Relations Campaign
Updated: Friday, June 8, 2001 09:56 AM ET Email this article to a friend!
Printer-friendly version
DALLAS, June 8 /PRNewswire/ -- International Oil & Gas, Inc. (OTC: IOAG, news, msgs), an oil and gas production and exploration company, announced today that it has selected OTC Financial Network, a division of National Financial Communications Corp., to direct its financial communications and shareholder relations campaign.
OTC Financial Network President Geoffrey Eiten stated, "The nationwide surge in energy prices is contributing to significant financial gains for many independent oil and gas companies. International Oil & Gas is prepared to capitalize on the record growth of the industry through its diversified leasehold properties in high-producing areas of the United States.
Through operator agreements with Cactus Energy of Fort Worth, Texas and Pallaum Minerals, Ltd. (CDNX: PLM), International Oil & Gas has commenced multi-well drilling programs at its Hood 5000 Project in Hood County, Texas. Three wildcat wells at the project are in final completion mode and recent studies indicate the wells will yield successful production. In addition, the Company has a joint venture partnership with Trans Energy, Inc. (OTC Bulletin Board: TSRG) and Jayhawk Resources LLC to lease over 5,000 acres in West Virginia in an area that is deemed prolific.
Eiten added, "By investing in new field discoveries, strategic acquisitions and joint ventures, International Oil & Gas discovers undervalued properties in North America that offer the potential for substantial upside."
International Oil & Gas President and CEO James Michael Stewart stated, "We anticipate the purchase of additional productive properties, increased gas drilling activity and joint venture efforts to accelerate our growth during 2001. Through our partnership with OTC Financial, International Oil & Gas looks forward to launching a comprehensive campaign to increase awareness and interest among the greater investment community."
About International Oil & Gas, Inc.
Based in Dallas, Texas, International Oil & Gas, Inc. focuses on the exploration and development of oil and gas properties in the United States, including the states of Texas, Nevada and West Virginia. The Company is currently negotiating with several public and private companies in an effort to secure undeveloped properties with major reserve potential and is seeking opportunities to participate in producing oil and gas fields. For more information, see www.inoil.com
About OTC Financial Network
OTC Financial Network, a division of National Financial Communications Corp. based in Needham, Massachusetts, is a full-service financial communications and investor relations firm that specializes in micro-cap companies. The Company's proactive campaigns are custom designed to strengthen each client's presence in the investment community by disseminating breaking news and fundamental positions to spheres of influence in the investment community; building upon the client's existing shareholder base; and soliciting institutional coverage. For more information, visit www.otcfn.com and www.otcfn.com/ioag.
For more information on International Oil & Gas, Inc. contact OTC Financial Network, Mario "Ike" Iacoviello, Investor Relations, 800-878-9460 or 760-931-9211, or email: ike@otcfn.com.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X64080642
SOURCE International Oil & Gas, Inc.
CONTACT: Mario "Ike" Iacoviello, Investor Relations of OTC Financial Network, 800-878-9460, or 760-931-9211, or ike@otcfn.com
IOAG mentions TSRG in their pr this morning.....
International Oil & Gas Retains OTC Financial Network to Direct Investor Relations Campaign
Updated: Friday, June 8, 2001 09:56 AM ET Email this article to a friend!
Printer-friendly version
DALLAS, June 8 /PRNewswire/ -- International Oil & Gas, Inc. (OTC: IOAG, news, msgs), an oil and gas production and exploration company, announced today that it has selected OTC Financial Network, a division of National Financial Communications Corp., to direct its financial communications and shareholder relations campaign.
OTC Financial Network President Geoffrey Eiten stated, "The nationwide surge in energy prices is contributing to significant financial gains for many independent oil and gas companies. International Oil & Gas is prepared to capitalize on the record growth of the industry through its diversified leasehold properties in high-producing areas of the United States.
Through operator agreements with Cactus Energy of Fort Worth, Texas and Pallaum Minerals, Ltd. (CDNX: PLM), International Oil & Gas has commenced multi-well drilling programs at its Hood 5000 Project in Hood County, Texas. Three wildcat wells at the project are in final completion mode and recent studies indicate the wells will yield successful production. In addition, the Company has a joint venture partnership with Trans Energy, Inc. (OTC Bulletin Board: TSRG) and Jayhawk Resources LLC to lease over 5,000 acres in West Virginia in an area that is deemed prolific.
Eiten added, "By investing in new field discoveries, strategic acquisitions and joint ventures, International Oil & Gas discovers undervalued properties in North America that offer the potential for substantial upside."
International Oil & Gas President and CEO James Michael Stewart stated, "We anticipate the purchase of additional productive properties, increased gas drilling activity and joint venture efforts to accelerate our growth during 2001. Through our partnership with OTC Financial, International Oil & Gas looks forward to launching a comprehensive campaign to increase awareness and interest among the greater investment community."
About International Oil & Gas, Inc.
Based in Dallas, Texas, International Oil & Gas, Inc. focuses on the exploration and development of oil and gas properties in the United States, including the states of Texas, Nevada and West Virginia. The Company is currently negotiating with several public and private companies in an effort to secure undeveloped properties with major reserve potential and is seeking opportunities to participate in producing oil and gas fields. For more information, see www.inoil.com
About OTC Financial Network
OTC Financial Network, a division of National Financial Communications Corp. based in Needham, Massachusetts, is a full-service financial communications and investor relations firm that specializes in micro-cap companies. The Company's proactive campaigns are custom designed to strengthen each client's presence in the investment community by disseminating breaking news and fundamental positions to spheres of influence in the investment community; building upon the client's existing shareholder base; and soliciting institutional coverage. For more information, visit www.otcfn.com and www.otcfn.com/ioag.
For more information on International Oil & Gas, Inc. contact OTC Financial Network, Mario "Ike" Iacoviello, Investor Relations, 800-878-9460 or 760-931-9211, or email: ike@otcfn.com.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X64080642
SOURCE International Oil & Gas, Inc.
CONTACT: Mario "Ike" Iacoviello, Investor Relations of OTC Financial Network, 800-878-9460, or 760-931-9211, or ike@otcfn.com
Vendit
Where can you get this software "Quote Tracker"? TIA. By the way, great board!
2desire
Good article....
Geron Grants License for Nuclear Transfer Technology to ProLinia, Inc. for Development of Cattle and Hogs for Agricultural Applications
MENLO PARK, Calif.--(BUSINESS WIRE)--June 6, 2001--Geron Corporation (Nasdaq:GERN) announced today that it has entered into an agreement to license its nuclear transfer technology to ProLinia, Inc. ProLinia has been granted a non-exclusive license to Geron's nuclear transfer technology for the production of cattle and hog embryos, as well as live cattle and hogs, for agricultural purposes.
Under the license, ProLinia will receive worldwide license rights for applications of nuclear transfer technology in hogs, and worldwide license rights, excluding Australia and New Zealand, for applications in cattle.
ProLinia plans to use nuclear transfer technology to copy the valuable genetics of elite cattle and hogs and upgrade production of animal multiplier herds. ProLinia previously has announced a strategic collaboration with Smithfield Foods, Inc., the world's largest hog producer, and anticipates entering further alliances with leaders in the hog and cattle production and processing fields.
In consideration for the license, Geron will receive equity in ProLinia and royalties on future product sales.
ProLinia, based in Athens, Ga., was established in 1998. Clifton Baile, ProLinia's Chief Executive Officer and Chairman of the Board, is an Eminent Scholar in Agricultural Biotechnology and a Distinguished Professor at the University of Georgia. ProLinia's scientific effort is headed by Dr. Steven Stice, ProLinia's Chief Scientific Officer, who also serves as a Professor and Georgia Research Alliance Eminent Scholar in Animal Reproductive Biology. Dr. Stice is also a co-inventor of nuclear transfer technology developed at the University of Massachusetts.
Geron is a biopharmaceutical company focused on developing and commercializing therapeutic and diagnostic products for applications in oncology and regenerative medicine, and research tools for drug discovery. Geron's product development programs are based upon three patented core technologies: telomerase, human embryonic stem cells and nuclear transfer.
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements in this press release regarding product development and future applications of Geron's technology constitute forward-looking statements that involve risks and uncertainties, including, without limitation, risks inherent in the development and commercialization of potential products, dependence on collaborative partners and the maintenance of our intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in Geron's periodic reports, including the quarterly report on Form 10-Q for the quarter ended March 31, 2001.
To receive an index and copies of recent press releases, call Geron's News on Demand toll-free fax service, 800/782-3279. Additional information about Geron Corporation can be obtained at http://www.geron.com.
CONTACT:
Geron Corporation, Menlo Park
David Greenwood, 650/473-7765 (Investor, Media Relations)
or
Burns McClellan
Nancy Robinson, 415/352-6262
Hi muelhead! See you finally made it in here today. lol. Did you find out the problem this a.m.? I also hope it goes north soon. Check your e-mail.
2desire
XLA moving North again! ABRG picking up steam at close today. Anyone buy on the dip? Volume up on TSRG too!
Good Luck!
2desire
http://www.quicken.com/investments/quotes/?defview=5DAY&symbol=XLA+abrg+tsrg
Permit info by Rod RB board.
Permit info>
Permit no.95-00892 farm name- Melvin Willey. County-Tyler.Target formation-Benson,estimated depth- 5200ft.
Dated May 18, 2001. Signed- Loren Bagley
TSRG new well permit-number-47-095-0892-filed may-18-2001.eom.
b/r 2desire
TSRG new well permit-number-47-095-0892-filed may-18-2001.eom
b/r 2desire
ELTI dd links. Courtesy of xxrayeyes.
http://www.investorshub.com/boards/read_msg.asp?message_id=119528
b/r 2desire
Muelhead, notice that the 5 most viewed octbb issues are all energy stocks? Good news for us!
2desire
Shaolin, That's a good possibility, although I'm not sure if it was ever stated where the property in guatemala is. There can't be that many companies over there, can there? That's sharp on your part for thinking of this. We haven't heard one word about the south America project since the pr was released re: it. If they are leasing land here to other companies, why not there too? Did you e-mail dragon52 about this? Maybe he can recall the information on the land we have there. Take care. Keep us informed of your thoughts, lol. My brain has been numb lately. Ha! Take care.
2desire
E-mail from Mike Stewart to doghawk. Thanks doghawk!
E-mail from Mike Stewart.
The only change appears to be they appear to have
hurried up the time frame and they have 6000 acres.
Subj: Re: Lease agreements?
Date: 5/23/01 8:56:04 AM Pacific Daylight Time
From: mstew300zx@earthlink.net (Mike Stewart)
To: xxxxxxxxxxxx.com
Sorry for not getting back with you sooner....We are preparing to shoot
siesmic as we speak...This is a Trenton Black play..We have roughly 6000
acres...You can go to stock point . com....Look up IOAG..Go to news and you
will see what has been happening.......Thanks
----- Original Message -----
From:
To:
Sent: Saturday, April 14, 2001 2:22 PM
Subject: Lease agreements?
Missed you over there MP! I still read the posts to salvage anything good from them is another story lately. lol. Let's hope we here something this weekend on the philly pigs. An international coverage of the event would be nice. T/C
2desire/aka KyGal63
I agree Joshua. Slow and steady she goes..... I think she will pop soon. Remember how fast it went up last October?
2desire
SANTA MARIA, CA (OTCBB NEWSWIRE) May 22, 2001-- Either this is the biggest Momo (momentum mover) of the year or something else is going on behind the scenes. That is the bottom line for Southern States Power Company (SSPC: .24). This stock has run up to .24 from .03 just days ago. While the nation focuses on a pending energy crisis with a Bush Administration that has set a policy aimed toward further development of alternative fuels, those companies that step up to the plate and offer solutions are certainly in the right place at the right time.
The current run of the Southern States Power Company stock price began when the company announced last Wednesday that they received a purchase order to provide the University of California, Riverside with 6-megawatts of standby power using biodiesel-fueled generators. The backup generation will help to ensure a reliable source of energy during the coming summer months, minimizing the threat of power loss to the University during California's anticipated blackouts. This event apparently is the first time that 100% biodiesel-fueled power has been generated on a commercial scale in California. Southern States Power Company says it is prepared to provide up to 7,200 gallons of biofuel per day to run the generators necessary for this project.
In an unusual Saturday press release SSPC announced that the company's Coachella Valley Biodiesel Production Facility is near completion and scheduled to begin producing fuel on June 11, 2001. The final stages of construction are ongoing, and photographs of the facility have been posted on the company's website, www.sspowerco.com. The Company says the addition of biodiesel from the Coachella facility will allow the company to fulfill the growing number of orders it is receiving for its OXyG Biodiesel Fuel.
So SSPC is now up 725%. Is this kind of a run sustainable? How high can it go? Well the answer depends upon what is happening behind the scenes. Have any newsletters been compensated for promoting SSPC? Are there any investment bankers involved? Are there any convertible debenture holders or others with “cheap or free shares?” Are there any insiders with substantial positions who are dumping into the current run? These are the kinds of questions that need to be answered when a stock runs this far this fast. Dilution of stock (increasing the total shares outstanding and public float) is the number one killer of stock prices on the OTCBB. According to our information, SSPC has only 8.8 million shares outstanding and 4.2 million shares in the public float. In our interview with the Company last week (OTCBB News Network Interviews Southern States Power Company) we were told that these numbers are essentially correct. If these numbers are correct, yesterday alone the public float changed hands approximately 5 times.
OTCBB history is full of examples of stocks that ran from pennies to dollars. Only time will tell if SSPC will be one of them.
Stru mentioned by StockREX.com. Copied from RB board. Stru was up 14% today. Note the volume. Over 2 million. A definite increase as of late. Good luck all. Also note the other energy stocks mentioned here. New to my eyes. Might want to keep tabs on them.
STRU was mentioned as a runner into the close, by StockREX.com here is the article:
INTO THE CLOSE:
Today's runners and an update on EVOP.
StockREX.com disclaimer at http://stockrex.com/disclaimer.htm
EVOPlooking great today, profiled this weekend under $1, is now after two days up over 20%.
Environmental Oil Processing Technologies (EVOP) website at http://www.environmentaloil.com has grabbed the attention of investors, with it's energy plants. EVOP also works in the market of re-refining oils. Pacific Sierra last Friday announced it will purchase energy from EVOP's new plant in Reno. With president Bush's Energy Plan, and rolling blackouts in California and now threats in the Northeast, energy may be the new precious jewel. Gold-Rush, .Com-Rush, and now Energy-Rush?....
Other companies making moves today
ITEC - good revenues reported last week, and news after close yesterday. ITC will license their software to WayTech.
STRU - may be considered an undervalued stock here, chart possibly has bottomed. Struthers Inc. has always been a major name in the OTCBB, this move states it will stay that way.
GARB- following in the footsteps of EVOP and other energy stocks. up over 200% today!!!.
TRGC - another energy stocks up over 250%....energy seems to be the place to be right now.
JNOT - Jagnotes.com a stock i have been following for a while now, it's up another 18% today to .32, just seems like yesterday when this traded below a dime. It's holding good, and keeps on moving on up.
Today's Earning Reports:
FCAI, IFTI, GLOB, SBLI, DSCI, FTCN
Other events:
ITWR - completed 1-50 reverse split.
StockREX.com
disclaimer at http://stockrex.com/disclaimer
congratulations Muelhead and Arch! Looks like things are finally coming together for abrg. Wonder what the bashers are doing on RB board? lol. Talk later.
Jerri
news!!American Communications Enterprises, Inc. Finalizes Letter of Intent to Acquire
AeroGroup, Inc.
(Business Wire 05/18/01 10:53:44)
Business Editors
SARASOTA, Fla.--(BUSINESS WIRE)--May 18, 2001--American
Communications Enterprises, Inc. (OTCBB:ACEN) announced today that it
has finalized a Letter of Intent to acquire 100% of privately held
AeroGroup, Inc., a Nevada corporation.
AeroGroup, Inc. has assembled in the past two years the world's
largest private air force. The company supplies aircraft, pilots,
maintenance and other support for the U.S. government and various
other foreign governments tactical aviation service contracts.
AeroGroup presently has available 56 aircraft including A4
Skyhawks, Harrier Jump Jets, Hawker Hunters, MIG-21's, F-35 Drakens, a
B-57 Canberra, and MK5 StrikeMasters. The present
government-to-government replacement values of these aircraft exceed
$150,000,000.00.
Military readiness and training is now a high visibility issue and
the Joint Chiefs of Staff themselves have promised to address and meet
training goals. Presently there is not enough manpower or assets
allocated within the Military to fulfill the need for combat support
training. AeroGroup is poised to fill the void with the required
assets and manpower.
Mark Daniels, Executive Director of AeroGroup, Inc. stated, "The
United States military's training requirements have not changed, only
their level of readiness. AeroGroup will provide needed capabilities
thereby enabling the United States to provide all pilots with the
required combat training. It is important to note how important pilot
training is; the potential loss of life is priority one, and that
coupled with the potential loss of multi-million dollar equipment
mandates the best training available. The military is now committed to
furnish that training. AeroGroup will privatize these missions that
include combat training support as well as full-blown adversarial unit
training. AeroGroup can do this more efficiently and cost effectively
than the military. The governmental funding is in place to accomplish
this."
American Communications officials stated that, "AeroGroup, Inc.
will provide our Company and its shareholders with a one-of-a-kind
opportunity with the necessary capital, equipment, inventory,
management, military expertise, secured agreements and strategic
alliances that will allow the Company to become the leader in tactical
training worldwide."
Certain statements included in this press release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results could differ
materially from such statements expressed or implied herein. Factors
that might cause such a difference include, among others, competitive
pressures, the company's ability to successfully implement traffic,
constantly changing technology, associated with recently formed
entities. As a result, this press release should be read in
conjunction with the Company's periodic filings with the SEC.
For additional information please visit the website at
www.aerogroupinc.com and/or e-mail Mark Daniels at rosso308@aol.com.
--30--gaa/mi
CONTACT: American Communications Enterprises Inc., Sarasota
Mark Daniels, 941/341-0136
KEYWORD: FLORIDA
news!!American Communications Enterprises, Inc. Finalizes Letter of Intent to Acquire
AeroGroup, Inc.
(Business Wire 05/18/01 10:53:44)
Business Editors
SARASOTA, Fla.--(BUSINESS WIRE)--May 18, 2001--American
Communications Enterprises, Inc. (OTCBB:ACEN) announced today that it
has finalized a Letter of Intent to acquire 100% of privately held
AeroGroup, Inc., a Nevada corporation.
AeroGroup, Inc. has assembled in the past two years the world's
largest private air force. The company supplies aircraft, pilots,
maintenance and other support for the U.S. government and various
other foreign governments tactical aviation service contracts.
AeroGroup presently has available 56 aircraft including A4
Skyhawks, Harrier Jump Jets, Hawker Hunters, MIG-21's, F-35 Drakens, a
B-57 Canberra, and MK5 StrikeMasters. The present
government-to-government replacement values of these aircraft exceed
$150,000,000.00.
Military readiness and training is now a high visibility issue and
the Joint Chiefs of Staff themselves have promised to address and meet
training goals. Presently there is not enough manpower or assets
allocated within the Military to fulfill the need for combat support
training. AeroGroup is poised to fill the void with the required
assets and manpower.
Mark Daniels, Executive Director of AeroGroup, Inc. stated, "The
United States military's training requirements have not changed, only
their level of readiness. AeroGroup will provide needed capabilities
thereby enabling the United States to provide all pilots with the
required combat training. It is important to note how important pilot
training is; the potential loss of life is priority one, and that
coupled with the potential loss of multi-million dollar equipment
mandates the best training available. The military is now committed to
furnish that training. AeroGroup will privatize these missions that
include combat training support as well as full-blown adversarial unit
training. AeroGroup can do this more efficiently and cost effectively
than the military. The governmental funding is in place to accomplish
this."
American Communications officials stated that, "AeroGroup, Inc.
will provide our Company and its shareholders with a one-of-a-kind
opportunity with the necessary capital, equipment, inventory,
management, military expertise, secured agreements and strategic
alliances that will allow the Company to become the leader in tactical
training worldwide."
Certain statements included in this press release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results could differ
materially from such statements expressed or implied herein. Factors
that might cause such a difference include, among others, competitive
pressures, the company's ability to successfully implement traffic,
constantly changing technology, associated with recently formed
entities. As a result, this press release should be read in
conjunction with the Company's periodic filings with the SEC.
For additional information please visit the website at
www.aerogroupinc.com and/or e-mail Mark Daniels at rosso308@aol.com.
--30--gaa/mi
CONTACT: American Communications Enterprises Inc., Sarasota
Mark Daniels, 941/341-0136
KEYWORD: FLORIDA
news!!American Communications Enterprises, Inc. Finalizes Letter of Intent to Acquire
AeroGroup, Inc.
(Business Wire 05/18/01 10:53:44)
Business Editors
SARASOTA, Fla.--(BUSINESS WIRE)--May 18, 2001--American
Communications Enterprises, Inc. (OTCBB:ACEN) announced today that it
has finalized a Letter of Intent to acquire 100% of privately held
AeroGroup, Inc., a Nevada corporation.
AeroGroup, Inc. has assembled in the past two years the world's
largest private air force. The company supplies aircraft, pilots,
maintenance and other support for the U.S. government and various
other foreign governments tactical aviation service contracts.
AeroGroup presently has available 56 aircraft including A4
Skyhawks, Harrier Jump Jets, Hawker Hunters, MIG-21's, F-35 Drakens, a
B-57 Canberra, and MK5 StrikeMasters. The present
government-to-government replacement values of these aircraft exceed
$150,000,000.00.
Military readiness and training is now a high visibility issue and
the Joint Chiefs of Staff themselves have promised to address and meet
training goals. Presently there is not enough manpower or assets
allocated within the Military to fulfill the need for combat support
training. AeroGroup is poised to fill the void with the required
assets and manpower.
Mark Daniels, Executive Director of AeroGroup, Inc. stated, "The
United States military's training requirements have not changed, only
their level of readiness. AeroGroup will provide needed capabilities
thereby enabling the United States to provide all pilots with the
required combat training. It is important to note how important pilot
training is; the potential loss of life is priority one, and that
coupled with the potential loss of multi-million dollar equipment
mandates the best training available. The military is now committed to
furnish that training. AeroGroup will privatize these missions that
include combat training support as well as full-blown adversarial unit
training. AeroGroup can do this more efficiently and cost effectively
than the military. The governmental funding is in place to accomplish
this."
American Communications officials stated that, "AeroGroup, Inc.
will provide our Company and its shareholders with a one-of-a-kind
opportunity with the necessary capital, equipment, inventory,
management, military expertise, secured agreements and strategic
alliances that will allow the Company to become the leader in tactical
training worldwide."
Certain statements included in this press release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results could differ
materially from such statements expressed or implied herein. Factors
that might cause such a difference include, among others, competitive
pressures, the company's ability to successfully implement traffic,
constantly changing technology, associated with recently formed
entities. As a result, this press release should be read in
conjunction with the Company's periodic filings with the SEC.
For additional information please visit the website at
www.aerogroupinc.com and/or e-mail Mark Daniels at rosso308@aol.com.
--30--gaa/mi
CONTACT: American Communications Enterprises Inc., Sarasota
Mark Daniels, 941/341-0136
KEYWORD: FLORIDA
Thank you xxrayeyes. eom.
Arch,
Try this link for IOAG.
http://ragingbull.lycos.com/mboard/boards.cgi?board=TSRG&read=61414
b/r 2desire
Arch, It's .40. lol. Just type in IOAG. ha!
2desire
Great site for learning chart patterns, etc...
http://www.chartpattern.com/cup_handle.html
b/r 2desire
International Oil & Gas Announces Update on the Wood Reef #1, #2 & #3 Wells
DALLAS, May 9 /PRNewswire/ -- International Oil & Gas Inc. (OTC: IOAG - news) and Pallaum Minerals, Ltd. (CDNX: PLM - news) reported today on the progress of the successful drilling of three wildcat wells on the company's Hood County, Texas prospect. All three wells, the Wood Reef No. 1, Wood Reef No. 2 and Wood Reef No. 3; are in final completion mode with a service rig having arrived on-site as of 6 p.m. yesterday.
Wood Reef No. 1
The well was completed in the Atoka Sands and has been fraced. Fracing sand formed a bridge and after repeated attempts using traditional techniques, a pump jack was installed and the sand bridge collapsed as predicted. A service rig is required to lower the pump to remove the formation water from the lower perforations. The well is connected to the meter.
Wood Reef No. 2
The well was completed in the Barnett Shale. The slick frac job by Baker Hughes was a textbook classic completion. A pressure bomb test was carried out last Thursday showed the frac fluid was at an elevation of 2,500 feet above the perforations. The well has been producing gas since last Friday through a 12/64-inch choke. The well continues to unload the frac fluid through the 5.5-inch-diameter casing with sustained high pressures. The production tubing is on-site and the operator will install it this week. The current production flow and casing pressures have led the company's technical people to be confident that once the production tubing is installed and the frac fluid removed, Well No. 2 will be very successful.
Wood Reef No. 3
The well was completed in the Barnett Shale and similar to Well No. 2, the frac job was a textbook classic completion. The well is loading. The procedure has been to shut the well in for 48 hours to allow the casing pressure to build up, and then to open the valve and allow gas to lift the frac fluid. The well is also producing oil and condensates. The petroleum products will be sold at a premium should commercial quantities be produced. The production tubing is on site and the operator will use the service rig to install it. Subsequent swabbing should kick the well off and begin production. The current information about the well indicates that it will be a successful well.
In summary, Wells No. 3, No. 2, and then the No. 1 will be serviced immediately. Procedures to all three wells into full commercial production will take approximately 72 hours. After all wells have produced and the flow rates have settled down, a four point flow test will be carried out on each well.
The company continues to develop the exploration program for the West Virginia Gas Project in joint venture with Trans Energy, Inc. and Jayhawk Resources Inc.
Safe Harbor Act Notice: Certain matters discussed in this news release are forward-looking statements, as it is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to a number of known and unknown risks and uncertainties including, but not limited to, business-to-business opportunities as well as availability of human and financial resources; which may cause actual results to differ materially from those expressed in any forward-looking statements made by or on behalf of International Oil & Gas Inc.
For more information concerning International Oil & Gas Inc., please contact:
Mr. Ian Scott-Moncrieff - Director, Corporate Finance
PH. (250) 216-7721
FX. (972) 588-3386
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X48171646
SOURCE: International Oil & Gas Inc.
International Oil & Gas Announces Update on the Wood Reef #1, #2 & #3 Wells
DALLAS, May 9 /PRNewswire/ -- International Oil & Gas Inc. (OTC: IOAG - news) and Pallaum Minerals, Ltd. (CDNX: PLM - news) reported today on the progress of the successful drilling of three wildcat wells on the company's Hood County, Texas prospect. All three wells, the Wood Reef No. 1, Wood Reef No. 2 and Wood Reef No. 3; are in final completion mode with a service rig having arrived on-site as of 6 p.m. yesterday.
Wood Reef No. 1
The well was completed in the Atoka Sands and has been fraced. Fracing sand formed a bridge and after repeated attempts using traditional techniques, a pump jack was installed and the sand bridge collapsed as predicted. A service rig is required to lower the pump to remove the formation water from the lower perforations. The well is connected to the meter.
Wood Reef No. 2
The well was completed in the Barnett Shale. The slick frac job by Baker Hughes was a textbook classic completion. A pressure bomb test was carried out last Thursday showed the frac fluid was at an elevation of 2,500 feet above the perforations. The well has been producing gas since last Friday through a 12/64-inch choke. The well continues to unload the frac fluid through the 5.5-inch-diameter casing with sustained high pressures. The production tubing is on-site and the operator will install it this week. The current production flow and casing pressures have led the company's technical people to be confident that once the production tubing is installed and the frac fluid removed, Well No. 2 will be very successful.
Wood Reef No. 3
The well was completed in the Barnett Shale and similar to Well No. 2, the frac job was a textbook classic completion. The well is loading. The procedure has been to shut the well in for 48 hours to allow the casing pressure to build up, and then to open the valve and allow gas to lift the frac fluid. The well is also producing oil and condensates. The petroleum products will be sold at a premium should commercial quantities be produced. The production tubing is on site and the operator will use the service rig to install it. Subsequent swabbing should kick the well off and begin production. The current information about the well indicates that it will be a successful well.
In summary, Wells No. 3, No. 2, and then the No. 1 will be serviced immediately. Procedures to all three wells into full commercial production will take approximately 72 hours. After all wells have produced and the flow rates have settled down, a four point flow test will be carried out on each well.
The company continues to develop the exploration program for the West Virginia Gas Project in joint venture with Trans Energy, Inc. and Jayhawk Resources Inc.
Safe Harbor Act Notice: Certain matters discussed in this news release are forward-looking statements, as it is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to a number of known and unknown risks and uncertainties including, but not limited to, business-to-business opportunities as well as availability of human and financial resources; which may cause actual results to differ materially from those expressed in any forward-looking statements made by or on behalf of International Oil & Gas Inc.
For more information concerning International Oil & Gas Inc., please contact:
Mr. Ian Scott-Moncrieff - Director, Corporate Finance
PH. (250) 216-7721
FX. (972) 588-3386
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X48171646
SOURCE: International Oil & Gas Inc.
International Oil & Gas Announces Update on the Wood Reef #1, #2 & #3 Wells
DALLAS, May 9 /PRNewswire/ -- International Oil & Gas Inc. (OTC: IOAG - news) and Pallaum Minerals, Ltd. (CDNX: PLM - news) reported today on the progress of the successful drilling of three wildcat wells on the company's Hood County, Texas prospect. All three wells, the Wood Reef No. 1, Wood Reef No. 2 and Wood Reef No. 3; are in final completion mode with a service rig having arrived on-site as of 6 p.m. yesterday.
Wood Reef No. 1
The well was completed in the Atoka Sands and has been fraced. Fracing sand formed a bridge and after repeated attempts using traditional techniques, a pump jack was installed and the sand bridge collapsed as predicted. A service rig is required to lower the pump to remove the formation water from the lower perforations. The well is connected to the meter.
Wood Reef No. 2
The well was completed in the Barnett Shale. The slick frac job by Baker Hughes was a textbook classic completion. A pressure bomb test was carried out last Thursday showed the frac fluid was at an elevation of 2,500 feet above the perforations. The well has been producing gas since last Friday through a 12/64-inch choke. The well continues to unload the frac fluid through the 5.5-inch-diameter casing with sustained high pressures. The production tubing is on-site and the operator will install it this week. The current production flow and casing pressures have led the company's technical people to be confident that once the production tubing is installed and the frac fluid removed, Well No. 2 will be very successful.
Wood Reef No. 3
The well was completed in the Barnett Shale and similar to Well No. 2, the frac job was a textbook classic completion. The well is loading. The procedure has been to shut the well in for 48 hours to allow the casing pressure to build up, and then to open the valve and allow gas to lift the frac fluid. The well is also producing oil and condensates. The petroleum products will be sold at a premium should commercial quantities be produced. The production tubing is on site and the operator will use the service rig to install it. Subsequent swabbing should kick the well off and begin production. The current information about the well indicates that it will be a successful well.
In summary, Wells No. 3, No. 2, and then the No. 1 will be serviced immediately. Procedures to all three wells into full commercial production will take approximately 72 hours. After all wells have produced and the flow rates have settled down, a four point flow test will be carried out on each well.
The company continues to develop the exploration program for the West Virginia Gas Project in joint venture with Trans Energy, Inc. and Jayhawk Resources Inc.
Safe Harbor Act Notice: Certain matters discussed in this news release are forward-looking statements, as it is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to a number of known and unknown risks and uncertainties including, but not limited to, business-to-business opportunities as well as availability of human and financial resources; which may cause actual results to differ materially from those expressed in any forward-looking statements made by or on behalf of International Oil & Gas Inc.
For more information concerning International Oil & Gas Inc., please contact:
Mr. Ian Scott-Moncrieff - Director, Corporate Finance
PH. (250) 216-7721
FX. (972) 588-3386
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X48171646
SOURCE: International Oil & Gas Inc.
Building up for a move
by Third Millennium Technologies, Inc.
More sideways motion today and narrow ranges on the three major indices: DJIA - 130 points, NDX - 52 points, and SPX - 14 points. The market is definitely building up for some kind of move. The action on the lows at support is probably indicative of people "buying the dip". Volume is still kind of mediocre at 1.9 billion shares on the Nasdaq and 991 million shares on the NYSE.
This action has made index stock swing trading challenging. The swing trading bulletin index stock shorts locked in some profits over the last couple of days (1-3 points per) and are still short (with breakeven or better stops) but are close to being stopping out of remaining positions. The big question is whether the market will be irrational and rally through resistance heading into the Fed meeting. As we all know, rational behavior has not been the strong suit for many market participants. Go with the flow if we breakout higher, until then we continue to nurse the shorts and if stopped out will initially look for weakness near resistance until we see a definitive breakout.
The ability of the major indices to maintain bouyancy and defy even a reasonable pullback is testimony to current market exuberance (as unfounded and premature as that may be). The afternoon rally seen in numerous issues going into the close today may be suggesting that the market mood is turning from lackluster to positive again. But there should still be a lot of overhead resistance/supply that will have to be cleared out of the way for us to make a decisive move higher and today's action was still on only mediocre volume. With index puts trading 2 to 1 against index calls today, clearly there are many who are preparing/hedging for a pullback.
Market participants have so far been determined to try to wait out further news that might support their expectation for another 50 basis point interest rate cut next week. Economic reports due out later this week will be dissected and pontificated on to make the case on both sides of the argument. Weak numbers will be snatched as rallying banners declaring that the Fed must cut further. Opponents will find examples of inflation for the Fed to worry about.
Aside from radical increases in energy costs (which are destined to go even higher over the next 3-4 months), there are some signs of inflationary tendencies in the pipeline. Whether the signs this time will manifest into something significant isn't yet obvious. But it's reasonable to believe at this point that Greenspan and company are currently more concerned with stabilizing and bolstering the economy and the market than they are about risking fueling inflationary forces.
Do we get a 50 basis point cut next week? The Fed Funds Futures suggest we will. The current market action suggests we do. The problem with this scenario is that market participants are already back to trying to price the market for perfection. If we don't get 50 basis points, we're likely to see at least a selloff back to major support levels. If we get it, we risk that the market will pop through current resistance and set itself up for a substantial slide. Also, if the Fed does come through with a 50 basis point cut, it's probably the last they're going to risk for a while.
News that CSCO eeked out a penny over it's multiply lowered, meager expectations had the stock trading down fractionally afterhours. No word as of this writting what their future outlook was like though. There were mixed analyst comments about CSCO, but during the regular session most people seemed to glom onto only the positive comments that believe that CSCO has stabilized and in the process of turning around. This helped other networking stocks and also helped to pull other related stocks back higher. National Semi warned again that it would miss targets. So who's right? Unclear because so many companies can't offer decent outlooks. But the market is nevertheless trying to price in the idea that economic factors have bottomed and earnings are going no where but up from here. It's not uncommon for the market to try to anticipate such actions by 3-6 months, but if this keeps up and the real earnings picture hasn't started to catch up with expectations by the fourth quarter, Santa could be crying instead of Ho-Ho-Ho-ing.
As always, hedge your longer term positions and stay on your toes and manage your stops (long or short).
Good trading.
Now, let's take a look at the technical picture:
Nothing new with the VIX - still huddled in the same horizontal support area and suggesting a coming possible further pullback.
IFTP 10q
http://www.edgar-online.com/lycos/quotecom/search/?cik=0001066759
Infotopia, Inc. Announces Strong First Quarter Financial Results; Reports Revenues of $23.9 Million and Net Income of $1.6 Million
http://www.quote.com/quotecom/news/story.asp?symbols=IFTP&story=21965450
NRES Technical update by Wizard321 (RB)
NRES Technical Update.
Another good day today, pretty solid action all around.
Today we're going to look at 3 charts, and we have some stuff to chew on this time around. Based on what I'm seeing, Tuesday is the day, this one is for all the marbles folks, read on.
The first chart is NRES and where we ended up today, we have some curious developments. First notice we are almost at our double top area, we need to get past that no doubt. Next, notice how steep our blue upward trending line is becoming, it seems now that with every day we close up 5/100, we are still right in the middle of the channel, just like we were on Friday, this implies serious upward mobility is possible in the near future.
Next, notice how tightly packed together the candles are getting from today backwards for about a week, this is suggesting to me there is serious strength behind our current upward move. Then notice the white candle we got today, the body is actually sitting on top of Fridays candle, this is normally very bullish.
http://members.aol.com/computecchie/nres/nres_572001.gif
The next chart is something I just stumbled on today, it is in reference to the Bollinger Bands. I don't normally look at these bands too often but I'm glad I did today. The Bollinger Bands are seriously contracting together, which implies an explosive move is about to take place, I would say within 2-3 days. I'm just praying that the move is not down although, I don't believe it will be. There has been some discussion on whether or not the dotted Bollinger Band is actually a middle band or the bottom band, I maintain my belief that it is the bottom band, and I'll just leave it at that.
http://members.aol.com/computecchie/nres/nres_572001_2.gif
The last chart is the Nasdaq, we are still in a double top formation, and it looks like the Nasdaq has been seriously struggling over the last 5 days to overcome the double top. If you draw an imaginary resistance area around the top, you'll see it's been going up to and bouncing back off of it, not a good sign. This is one of the things I'm worried about with NRES, I sure hope we can blast through that resistance line and leave the double top in the dust.
Something else that's a little troubling, I've noticed over the last couple of weeks, it seems like NRES price movement is somewhat imitating what the Nasdaq does, I know the OTC and the Nasdaq do have some correlation between them. This is going to be the true test behind what kind of momentum is behind NRES, I still believe the Nasdaq is going to tank by 200 points short term, and by about 500 points medium term (5 weeks). If that happens, that would put the Nasdaq at a perfect double bottom, and that would signal "everybody into the pool".
http://members.aol.com/computecchie/nres/nasdaq_572001.gif
In summary, Tuesday puts us in the money position, do we blast up through resistance into our new target area? or do we tank the other way? My honest belief is NRES is setting up for a serious move to the upside, with the steady stream of PR's, construction starting, and good volume trading each day, we are looking stronger than we have in quite a while. I'm getting the impression that the closing of the Connecticut deal was some sort of a catalyst that has sparked some serious investor interest in our little micro company.
I also saw a few posts today that mentioned, more MM's are getting in on the action, this is a very good sign that NRES may be ready to start jumping. I would like to know the website for seeing the MM lineup for NRES if anyone knows where it is.
To end, we are at a crucial fulcrum point right now, we must move up and away from the double top area, and we must break through the next resistance line with conviction. If we can do that, I'd say we're set for a big rally, if not, we'll have to reassess where we are each day.
Keep your fingers crossed, hope for the best, and good trading to all!
Wiz....
The Rocks Are Everywhere’
Trenton-Black River Play Expands
By KATHY SHIRLEY
EXPLORER Correspondent
For the first time in a long time, an exploration play in the Appalachian Basin is sparking the interest and imagination of oil companies around the country, thanks largely to advances in seismic operations, drilling technology and geologists’ understanding of a complex play.
The productive zone lies in the formations of the Ordovician-age Trenton-Black River, which started the John D. Rockefeller empire over 100 years ago and is once again padding the bottom lines of Appalachian Basin operators.
Charleston (W.Va.)-based Columbia Natural Resources touched off the recent frenzy of activity there when the firm brought in some impressive wells on its acreage in New York’s Finger Lakes region.
This was unexpected. The Trenton-Black River has not been a major target in the Appalachian Basin because the zone is deeper than traditional producing reservoirs in the basin.
But the firm’s geoscientists had been studying the Trenton-Black River for years - and all that work finally has come to fruition.
Äolumbia’s success with its basin-wide deep drilling program is proving that the Appalachian Basin still holds tremendous potential - and the lower 10,000 feet of sediment are virtually untested.
“This is the most exciting thing to happen to the Appalachian Basin since the early 1950s,” said Alan Fairman, business manager with Fairman Drilling in DuBois, Pa. “We are even starting to get inquiries from large independents based in the Southwest.”
Workers at Well #1 in the the New York State Reforestation Area 2, Schuyler County, N.Y.
Kathleen Sanford, with the New York State Department of Environmental Conservation’s Division of Mineral Resources, agreed.
“We hear reports of dozens of landmen in New York, and a recent state lease sale seems to bear out those reports,” she said. “In a 1999 state lease sale we had record bids as high as $312 per acre for some acreage in Schuyler County - our previous high bids were in the $60 to $70 range. That lease sale was held just a couple of weeks after a successful discovery well happened in Steuben County, and landmen who were in Wyoming and Louisiana at that time tell us they heard about the well.”
Currently the state is preparing another lease sale, and 23,000 acres have been nominated.
“That’s a tremendous amount of acreage to be nominated in New York, and we are expecting the same level of interest that we saw at the 1999 sale,” Sanford said. “All 23,000 acres nominated are in the Trenton-Black River play area.”
To be put on a mailing list to receive information about the upcoming sale, email your name and address to dmnog@gw.dec.state.ny.us.
Good Indications
Today four fields are producing deep gas from the Trenton-Black River in Steuben and Chemung counties of southwestern New York, and the wells in these new fields, according to those involved, have been phenomenal.
Columbia in 1999 had expanded its Trenton-Black River program and made a discovery in Roane County, W.Va., that was geologically similar to its wells in New York.
Richard Beardsley, vice president of geology and geophysics with Columbia, said the company’s last two wells in West Virginia were the largest wells in the northeast United States in terms of open flow rates.
In fact, the West Virginia discovery well - drilled to 10,300 feet on Columbia’s Vineyard Ridge area - demonstrated an open-flow rate estimated at approximately 50 million cubic feet of gas a day.
Bottom hole pressures initially gauged at 6,600 pounds per square inch - highly unusual for typical Appalachian Basin production - were sustained through the first month of production.
The second well in the Cottontree Field posted a natural flow from about 9,600 feet and was operationally similar to the discovery well.
Columbia has completed a five-mile, eight-inch gathering line connecting the new field to Columbia Gas Transmission’s nearby high-pressure interstate pipeline. Since the gathering line was completed the firm is averaging about 7.4 million cubic feet of gas a day from the field.
Today Columbia is drilling its fifth well in the Cottontree Field. Beardsley said the West Virginia prospect is more than 20 years old.
“Advances in drilling technology that now allow us to drill to 10,000 feet and deeper at a reasonable cost, combined with the successes in the Trenton-Black River in New York, brought this West Virginia prospect to the forefront,” he said.
These recent wells aren’t the first Trenton-Black River wells in the state.
“The first Trenton-Black River well was drilled in 1936 and burned the rig to the ground,” he said, chuckling, “a good indication hydrocarbons were present.”
Patience Pays Off
The New York activity that touched off the interest in the Trenton-Black River has been a long time coming as well.
Columbia first began studying the Ordovician formations in the early 1970s, when the firm was looking for Devonian reefs in New York and acquired about 900 miles of seismic data. Scientists didn’t confine themselves to Devonian targets, however, and looked at additional horizons on the seismic.
“At that time we also looked at old wells that had penetrated what we believed were hydrothermal reservoirs,” Beardsley said. “We modeled this area after what we saw in western Ontario, where some old fields dating back to 1917 produce from hydrothermal reservoirs in the Trenton-Black River.
“That production in Ontario, coupled with the Lima-Indiana Field, which started the seven sisters for John Rockefeller, certainly indicated the Trenton-Black River formations were worth examining in the Appalachian Basin,” he added. “Our work and samples we saw indicated that a deep-seated heat source generated a hydrothermal cell that provided mobilization of magnesium rich waters deep in the reservoir, which created hydrothermal cave systems.”
The one-and-a-half-billion-year-old Greenvillian Orogeny likely became the fundamental route for all the deep-seated basin features found in this play area.
“Basically, we are now looking at areas where major separation and rotation of the basin created networks of faults and fractures that provided conduits for the hot water,” he said.
Columbia’s first test of the Trenton-Black River in 1980 was a dry hole.
“(But) we took the information gleaned from that well and developed geologic models for the play,” Beardsley said.
The first Trenton-Black River discovery in New York came in 1986 at Columbia’s Gloades Corners Field, but a combination of industry and corporate problems added 10 years before that first discovery came on line.
“It was difficult to generate management interest for a new play concept in a region isolated from pipelines, but by the mid-1990s we revisited the area and drilled a successful offset well one mile from the Glodes Corner discovery,” Beardsley said.
The company then built a pipeline to service the region, and that, according to Beardsley, “was the key to expanding the drilling program.”
Today Columbia has made 10 new Trenton-Black River field discoveries in New York - seven solo and three through joint ventures.
Seismic Clarity
Columbia’s success and new seismic studies sparked several additional operators to join the play.
Fairman Drilling and partner East Resources of Pittsburgh currently have about 30,000 acres under lease in West Virginia and are continuing to expand their holdings. The firms were drilling their sixth Trenton-Black River well at year-end and this year plan to drill about 18 wells in south central New York.
By mid-year the partners plan to begin testing acreage in West Virginia, according to Alan Fairman.
East Resources first approached Fairman Drilling in early 1998 about establishing a joint venture to purchase regional seismic and develop some prospects in the play. Reports from the firms’ geologic consultants, Orion Resources Consulting in London, Ontario, indicated some very promising potential.
Next, the two companies shot about 40 miles of additional seismic to identify drill sites. At the same time the firms began acquiring acreage, and by the summer of 1999 had about 180,000 acres under lease.
Today the joint venture has acquired over 150 miles of new seismic and has 250,000 acres, Fairman said.
Fairman and East Resources drilled their first well in March 1999 and made a discovery at the No.1 Broz in Chemung County. The well was drilled to 9,303 feet and initial open flow estimates were in excess of 15 million cubic feet of gas a day. That well will be going on line later this year.
A dry hole just north of the discovery well followed, but last summer the firms’ third test, the No. 1 Whiteman, was a success. That well, sited seven miles west of the Broz, was drilled to the Black River at 9,511 feet, encountering natural gas shows of over 12 million cubic feet of gas a day.
The joint venture’s fourth well was drilled seven miles north of the Whiteman well in Schuyler County on state lands. The SRA 2 No. 1 well went to 8,770 feet and found a natural gas flow of over 30 million cubic feet of gas a day.
Last fall the two companies completed a one-mile offset to the Broz that flowed an estimated 15 million cubic feet of gas daily. Currently the joint venture is sidetracking its sixth well after drilling into an unproductive section of the Black River at 10,400 feet.
By mid-year three of East Resources and Fairman Drilling’s wells are expected to be on production.
“Following Columbia’s success, this play was appealing to our company because we had the capabilities to drill to these depths, and due to availability of acreage in New York,” Fairman said.
“Also, Orion Resources had experience with the Trenton-Black River in Ontario, and the firm’s geologists said the features on our seismic were far more pronounced than what they see in Ontario.”
The economics of the play is an obvious plus.
“Our wells have cost from $850,000 to $1 million to drill to about 10,000 feet, but once they go on line we could have situations where we will pay out the wells in just a couple of months,” Fairman said. “When was the last time you saw that in the Appalachian Basin?
“These wells are not typical Appalachian Basin discoveries. The potential for large production volumes is significant - the formation we are drilling into is 350 to 400 feet thick, but we have only drilled into the top 30 to 40 feet because of the large amounts of gas we have coming out the flow line.
“That’s a nice problem to have.”
Pennsylvania General Energy is the third major player in the New York Trenton-Black River play. Late last year the firm was drilling its fifth Trenton-Black River well after netting four-for-four successful wells.
Analogous Possibilities
Generally the Black River is a shallow-water carbonate overlain by the deeper water Trenton formation, which is an argillaceous limestone.
The productive zones in these Ordovician carbonates are centered on fault or fracture systems. The carbonates have been dolomitized by hot, magnesium-rich water tracking up the faults and fractures, said Robert Trevail, with Orion Resources.
Seismic has been important to recent successes, and in general operators are looking for:
Structural depressions over the dolomitized zone.
Vertical displacement of the underlying Precambrian basement surface.
A change in character on seismic records within the dolomitized zone.
Non-porous limestones typically bound the reservoirs.
“Unlike traditional plays where you look for highs on the seismic, we are looking for lows - slumps that indicate a dolomitized zone,” Trevail said.
Now that geologists have a better understanding of the properties of productive Trenton-Black River plays the Appalachian Basin - as well as the entire eastern United States - could see a boom in activity searching for analogous settings.
“The Trenton-Black River formations are pervasive over an enormous area of the north and eastern regions of the country,” said Brian Keith of the Indiana Geological Survey. “The rocks are everywhere - the key is finding the fracture systems that allow these dolomitized reservoirs,”
Fairman agreed.
“When you look at a map you can see that the Trenton-Black River runs all the way from the St. Lawrence Seaway to Kentucky,” Fairman said. “With a better geologic understanding and improvements in seismic technology, there’s no reason to think that analogous plays won’t be found in other regions.”
And that’s good news for operators in the northeast where big, exciting exploration plays don’t come along every day - or every decade, for that matter.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Keep an eye on TSRG.....
b/r 2desire
The Rocks Are Everywhere’
Trenton-Black River Play Expands
By KATHY SHIRLEY
EXPLORER Correspondent
For the first time in a long time, an exploration play in the Appalachian Basin is sparking the interest and imagination of oil companies around the country, thanks largely to advances in seismic operations, drilling technology and geologists’ understanding of a complex play.
The productive zone lies in the formations of the Ordovician-age Trenton-Black River, which started the John D. Rockefeller empire over 100 years ago and is once again padding the bottom lines of Appalachian Basin operators.
Charleston (W.Va.)-based Columbia Natural Resources touched off the recent frenzy of activity there when the firm brought in some impressive wells on its acreage in New York’s Finger Lakes region.
This was unexpected. The Trenton-Black River has not been a major target in the Appalachian Basin because the zone is deeper than traditional producing reservoirs in the basin.
But the firm’s geoscientists had been studying the Trenton-Black River for years - and all that work finally has come to fruition.
Äolumbia’s success with its basin-wide deep drilling program is proving that the Appalachian Basin still holds tremendous potential - and the lower 10,000 feet of sediment are virtually untested.
“This is the most exciting thing to happen to the Appalachian Basin since the early 1950s,” said Alan Fairman, business manager with Fairman Drilling in DuBois, Pa. “We are even starting to get inquiries from large independents based in the Southwest.”
Workers at Well #1 in the the New York State Reforestation Area 2, Schuyler County, N.Y.
Kathleen Sanford, with the New York State Department of Environmental Conservation’s Division of Mineral Resources, agreed.
“We hear reports of dozens of landmen in New York, and a recent state lease sale seems to bear out those reports,” she said. “In a 1999 state lease sale we had record bids as high as $312 per acre for some acreage in Schuyler County - our previous high bids were in the $60 to $70 range. That lease sale was held just a couple of weeks after a successful discovery well happened in Steuben County, and landmen who were in Wyoming and Louisiana at that time tell us they heard about the well.”
Currently the state is preparing another lease sale, and 23,000 acres have been nominated.
“That’s a tremendous amount of acreage to be nominated in New York, and we are expecting the same level of interest that we saw at the 1999 sale,” Sanford said. “All 23,000 acres nominated are in the Trenton-Black River play area.”
To be put on a mailing list to receive information about the upcoming sale, email your name and address to dmnog@gw.dec.state.ny.us.
Good Indications
Today four fields are producing deep gas from the Trenton-Black River in Steuben and Chemung counties of southwestern New York, and the wells in these new fields, according to those involved, have been phenomenal.
Columbia in 1999 had expanded its Trenton-Black River program and made a discovery in Roane County, W.Va., that was geologically similar to its wells in New York.
Richard Beardsley, vice president of geology and geophysics with Columbia, said the company’s last two wells in West Virginia were the largest wells in the northeast United States in terms of open flow rates.
In fact, the West Virginia discovery well - drilled to 10,300 feet on Columbia’s Vineyard Ridge area - demonstrated an open-flow rate estimated at approximately 50 million cubic feet of gas a day.
Bottom hole pressures initially gauged at 6,600 pounds per square inch - highly unusual for typical Appalachian Basin production - were sustained through the first month of production.
The second well in the Cottontree Field posted a natural flow from about 9,600 feet and was operationally similar to the discovery well.
Columbia has completed a five-mile, eight-inch gathering line connecting the new field to Columbia Gas Transmission’s nearby high-pressure interstate pipeline. Since the gathering line was completed the firm is averaging about 7.4 million cubic feet of gas a day from the field.
Today Columbia is drilling its fifth well in the Cottontree Field. Beardsley said the West Virginia prospect is more than 20 years old.
“Advances in drilling technology that now allow us to drill to 10,000 feet and deeper at a reasonable cost, combined with the successes in the Trenton-Black River in New York, brought this West Virginia prospect to the forefront,” he said.
These recent wells aren’t the first Trenton-Black River wells in the state.
“The first Trenton-Black River well was drilled in 1936 and burned the rig to the ground,” he said, chuckling, “a good indication hydrocarbons were present.”
Patience Pays Off
The New York activity that touched off the interest in the Trenton-Black River has been a long time coming as well.
Columbia first began studying the Ordovician formations in the early 1970s, when the firm was looking for Devonian reefs in New York and acquired about 900 miles of seismic data. Scientists didn’t confine themselves to Devonian targets, however, and looked at additional horizons on the seismic.
“At that time we also looked at old wells that had penetrated what we believed were hydrothermal reservoirs,” Beardsley said. “We modeled this area after what we saw in western Ontario, where some old fields dating back to 1917 produce from hydrothermal reservoirs in the Trenton-Black River.
“That production in Ontario, coupled with the Lima-Indiana Field, which started the seven sisters for John Rockefeller, certainly indicated the Trenton-Black River formations were worth examining in the Appalachian Basin,” he added. “Our work and samples we saw indicated that a deep-seated heat source generated a hydrothermal cell that provided mobilization of magnesium rich waters deep in the reservoir, which created hydrothermal cave systems.”
The one-and-a-half-billion-year-old Greenvillian Orogeny likely became the fundamental route for all the deep-seated basin features found in this play area.
“Basically, we are now looking at areas where major separation and rotation of the basin created networks of faults and fractures that provided conduits for the hot water,” he said.
Columbia’s first test of the Trenton-Black River in 1980 was a dry hole.
“(But) we took the information gleaned from that well and developed geologic models for the play,” Beardsley said.
The first Trenton-Black River discovery in New York came in 1986 at Columbia’s Gloades Corners Field, but a combination of industry and corporate problems added 10 years before that first discovery came on line.
“It was difficult to generate management interest for a new play concept in a region isolated from pipelines, but by the mid-1990s we revisited the area and drilled a successful offset well one mile from the Glodes Corner discovery,” Beardsley said.
The company then built a pipeline to service the region, and that, according to Beardsley, “was the key to expanding the drilling program.”
Today Columbia has made 10 new Trenton-Black River field discoveries in New York - seven solo and three through joint ventures.
Seismic Clarity
Columbia’s success and new seismic studies sparked several additional operators to join the play.
Fairman Drilling and partner East Resources of Pittsburgh currently have about 30,000 acres under lease in West Virginia and are continuing to expand their holdings. The firms were drilling their sixth Trenton-Black River well at year-end and this year plan to drill about 18 wells in south central New York.
By mid-year the partners plan to begin testing acreage in West Virginia, according to Alan Fairman.
East Resources first approached Fairman Drilling in early 1998 about establishing a joint venture to purchase regional seismic and develop some prospects in the play. Reports from the firms’ geologic consultants, Orion Resources Consulting in London, Ontario, indicated some very promising potential.
Next, the two companies shot about 40 miles of additional seismic to identify drill sites. At the same time the firms began acquiring acreage, and by the summer of 1999 had about 180,000 acres under lease.
Today the joint venture has acquired over 150 miles of new seismic and has 250,000 acres, Fairman said.
Fairman and East Resources drilled their first well in March 1999 and made a discovery at the No.1 Broz in Chemung County. The well was drilled to 9,303 feet and initial open flow estimates were in excess of 15 million cubic feet of gas a day. That well will be going on line later this year.
A dry hole just north of the discovery well followed, but last summer the firms’ third test, the No. 1 Whiteman, was a success. That well, sited seven miles west of the Broz, was drilled to the Black River at 9,511 feet, encountering natural gas shows of over 12 million cubic feet of gas a day.
The joint venture’s fourth well was drilled seven miles north of the Whiteman well in Schuyler County on state lands. The SRA 2 No. 1 well went to 8,770 feet and found a natural gas flow of over 30 million cubic feet of gas a day.
Last fall the two companies completed a one-mile offset to the Broz that flowed an estimated 15 million cubic feet of gas daily. Currently the joint venture is sidetracking its sixth well after drilling into an unproductive section of the Black River at 10,400 feet.
By mid-year three of East Resources and Fairman Drilling’s wells are expected to be on production.
“Following Columbia’s success, this play was appealing to our company because we had the capabilities to drill to these depths, and due to availability of acreage in New York,” Fairman said.
“Also, Orion Resources had experience with the Trenton-Black River in Ontario, and the firm’s geologists said the features on our seismic were far more pronounced than what they see in Ontario.”
The economics of the play is an obvious plus.
“Our wells have cost from $850,000 to $1 million to drill to about 10,000 feet, but once they go on line we could have situations where we will pay out the wells in just a couple of months,” Fairman said. “When was the last time you saw that in the Appalachian Basin?
“These wells are not typical Appalachian Basin discoveries. The potential for large production volumes is significant - the formation we are drilling into is 350 to 400 feet thick, but we have only drilled into the top 30 to 40 feet because of the large amounts of gas we have coming out the flow line.
“That’s a nice problem to have.”
Pennsylvania General Energy is the third major player in the New York Trenton-Black River play. Late last year the firm was drilling its fifth Trenton-Black River well after netting four-for-four successful wells.
Analogous Possibilities
Generally the Black River is a shallow-water carbonate overlain by the deeper water Trenton formation, which is an argillaceous limestone.
The productive zones in these Ordovician carbonates are centered on fault or fracture systems. The carbonates have been dolomitized by hot, magnesium-rich water tracking up the faults and fractures, said Robert Trevail, with Orion Resources.
Seismic has been important to recent successes, and in general operators are looking for:
Structural depressions over the dolomitized zone.
Vertical displacement of the underlying Precambrian basement surface.
A change in character on seismic records within the dolomitized zone.
Non-porous limestones typically bound the reservoirs.
“Unlike traditional plays where you look for highs on the seismic, we are looking for lows - slumps that indicate a dolomitized zone,” Trevail said.
Now that geologists have a better understanding of the properties of productive Trenton-Black River plays the Appalachian Basin - as well as the entire eastern United States - could see a boom in activity searching for analogous settings.
“The Trenton-Black River formations are pervasive over an enormous area of the north and eastern regions of the country,” said Brian Keith of the Indiana Geological Survey. “The rocks are everywhere - the key is finding the fracture systems that allow these dolomitized reservoirs,”
Fairman agreed.
“When you look at a map you can see that the Trenton-Black River runs all the way from the St. Lawrence Seaway to Kentucky,” Fairman said. “With a better geologic understanding and improvements in seismic technology, there’s no reason to think that analogous plays won’t be found in other regions.”
And that’s good news for operators in the northeast where big, exciting exploration plays don’t come along every day - or every decade, for that matter.
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Arch,
IDNW looks like its going up nice and slow. I like that. Not as much volatility as in spikes. Thanks for the 5 day quotes.
2desire