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Barcharts saying 3.36 next resistance but I think it'll go back to 4,20 range where it was before drop.
Have any idea where this stock is going to go? (short term- can't afford a loss- small time savings account)
Smallfry- in UK -USEY has a good business fueling full cap turbine with NG from its wells- PR 12/6
If a zone's formation is not very permeable and fracturing it doesn't shake things loose it can turn out noncommercial. Don't know what the %'age is , probably low. Logging speaks what's there plus what they find out about formation when drilling thru it.
Don't think it will take that long. Worked on a lot of completions when I was a kid (in 20's). Oil completions take longer than gas. 7000' levels may take a few days with oil. 2700' show won't take as long. They have to get tubing on site, run a packer below formation, frac the zone, and then swab it out to frac tank until oil flowing or pumpable rates are determined.. gas will determine itself with a wellhead test (PSIG thru a choke). They can set up pump to rentalable frac tanks for trucking out until tank battery is set up. - Fracing the zones deteremines commercial or not after testing. Not commercial no completion.
I'm glad Tom put out a pr. The whole Hobbs,NM Odessa Midland Tx area contractors are pretty busy. 1st qtr 2007 (Jan, hopefully) is probably as soon as can get rig in because of the holidays. I especially like the idea of a turbine generating electricity, there's a lot of Solars made by catepillar in NM, work really well and generate income even when
ng price is down. Could generate income for pipeline when other wells are brought online. Maybe we'll make it to becoming EDEX ENERGY on the NAZ or something. GLTA
Is this notice from today? At least it sounds like they've got something to engineer.TIA
Folks with sell orders this low ought to watch if news comes out anytime. The well was already logged according to pr and a workover rig means frac jobs to test -multiple- zones. SE NM is full of workover rigs and tubing. Could be news anytime on preliminary results.
Check VYEY.OB pr dated yesterday. They have 2.5%.
Check the homepage agreements section. Well interest is 37.5%. Edex owns 33% of the mineral rights to the 11k acres the well was drilled on.
Oil from 40 acre spacing may change your equation especially if from different zones.
Nervousnellie- Any idea what this will drift to lower range if there's nothing posted as to well status? Hope Tom stays on top promoting EDEX if well is a good one. Am going to be watching to see if info is slow in forthcoming.
Plugger - I look for the next well to be in pretty close to this discovery- to outline reservoir, maybe mile or so. They'll have to look at data, maybe shoot a seismograph, get permitted, put down another well pad. Shouldn't take long if well is a good one.
Looks to me like since they originally pr'd going to 7200' TD that they encountered oil/gas before reaching 7062' @ the 7025' level mentioned. If there was no show they would have kept on to the 7200' level I believe. The other JV partners would have been the one's with most interest to have called the shots. There's supposed to be an oil show at the 2700' level as well. It's just gonna take some time. There may be two or three producing zones in this field with multiple wells making oil and gas.Maybe some horizontal drilling in future for big producer.
What's the so.colorado leases's location? Anywhere close to the San Juan? Just curious.
Looks like a new field discovery with multiple zones. Several wells making commercial oil/gas production will start EDEX out nicely. Tom may be a little gunshy and playing discovery lowkey until things get moving. Hpefully this will be a steady pps climber with less volatility. Ordering a workover rig for completion after running wireline for logging zones is a very good sign. They ain't cheap and it wouldn't be done if there weren't anything there. JV partners would have to be in agreement.
Hard rock like they've been drilling thru is a good cap for oil/gas pockets.
Hope it's a steady climber to the .30's for a start till next well is drilled.
Whoever's buying those blocks I'm sure are not buying blindly after the fiasco of last week.IMO
100k trade just went thru. A buy? Bid moving up.
Scottrader chart shows flat line @.075 with about 250k shares bought that time frame at the ask-no sales-from 10:35 to 12;40. Maybe whoever got out last week getting back in. Better than nothing at this point.So is yahoo chart. Pretty strange.
Metallurgist- Lose weight because of gas pushing it up back against the mudpumps?
Bid slowly moving up.
Bid slowly moving up.
24/7 then wireline comes in for logging; workover rig for completion.
It provides clarity to situation instead of bashers driving the sp down. Results after well is logged is standard.
They are not at the Montoya
dolomite yet-what if it is a hit?
Done.eom
There was a pretty good snowstorm in the area last week -may have slowed things down some.
Thanks for the reply.
This drop is terrible anyone know why?
No idea.- maybe like someone said- when first targeted zone is reached. I'm holding to the fact that they ran intermediate casing. Don't think they would have done that without something being there to pay for the casing and expense of running it etc.
Anybody know why strata is down while crude is pricing upwards?
Seen some sizeable blocks bought not sold today.eom
Earl-I sure wouldn't mind having 15-20 wells making 15-50 bbls per day at the 2800 ft level on mesa acreage plus a gas well or two from the deeper zones. I hope to pick up some shares tomorrow.
Earl-their evaluating an oil sign at mesa and then deciding to run intermediate casing - is already a good sign. Drillers who have seen oil come up thru circulation and signs in the formation chat know whether its worth the expense of running casing or not. There's been a lot of oil found at those shallow depths in Oklahoma and Kansas etc. Hopefully this well will have more than one producing zone available. 2800 ft wells are a lot cheaper than deeper ones.
D- Usually after reaching TD logging is run to indicate where gas/hydrocarbons are, type of rock they're in. Decision to case entire hole is then made and casing is perforated at oil/gas zone. Then usually a frac job ensues to losen up formation to make a producer. Can take a while.
Pretty good fluctuation -hard to trust.
down--upand down
PPS will be according to what they prove as resource +/-any speculation plus following commodity prices. Looks like they would try for producing income streams and growth rather than buyouts. Company's value can go right on up thru the years, if they they make commercial hits. San Juan basin, utah,and wyoming seeing lots of action would be nice to see them hit a really big well there someday. IMO