Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
We are now officially finished. See ya...
Canasia further announced today that Andora has been selected as the successful bidder to acquire certain assets of Northern Alberta Oil Ltd. (NAOL) and Deep Well Oil & Gas (Alberta) Ltd., including the debtor's 25-per-cent working interest in 11 sections of the Sawn Lake Central block, from Ernst & Young Inc., as receiver and manager of certain of the debtors' present and after-acquired properties, assets and undertakings, for a purchase price equal to $2.0-million (net approximately $1.3-million following receipt of amounts owing from the debtors to Andora).
"The Sawn Lake heavy oil project, despite a successful pilot in 2015, has been impacted by a number of issues with the project's 25-per-cent joint venture interest holders, who currently owe Canasia approximately $600,000. The company has been successful in a series of recent court rulings related to enforcement actions against the joint venture interest holders. It is anticipated these issues will be resolved by mid-May, 2024, at which time the company will follow a path focused on near-term shareholder value.
Any comments now?
Obviously what we say here makes no difference. Makes one wonder if you really did talk to the old Horse all those times over the years. Guy is probably in a nursing home at this point. And true why not just sell. Maybe because at this price it wouldn't cover the $9.95 commission.
OUTLOOK
Enforcement actions against Andora’s 25% working interest Sawn Lake partners will continue in the third quarter.
CanAsia will either seek to farmout a portion of Andora’s interest, or outright sale of the asset. The Company plans
to participate in an onshore Thailand bid round that will likely be announced in 2023, possibly in late third quarter.
We are worthless regardless of what couple goofs on this board say.
Point of your post? I mean it has been worthless for years now.
Can guarantee these guys aren't doing jack. Other then collecting pay for doing squat. Probably subsidizing the nursing home. Hasn't done anything in 10+ years.
Horst is 90 years old.
Latest 0.000001
Only 1000 shares so that is 0.001
Not even a penny worth of money. 1/10th of a penny. How does that even happen? Bizarre.
And yet we sit here basically untradeable at 0.001. Other then a few shares which trade.
Sawn Lake (Operated by Andora Energy Corporation, in which Pan Orient has a 71.8% ownership)
In March 2022, Andora entered into an agreement with a joint venture partner at Sawn Lake whereby Andora acquired certain assets and assumed certain liabilities at Sawn Lake. Through the transaction, Andora increased its working interest in the Sawn Lake joint venture to 75%.
The March 31, 2022 Contingent Bitumen Resources Report ("Resources Report"), a National Instrument 51-101 compliant resources evaluation for Andora's oil sands interests at Sawn Lake Alberta based on exploitation using Steam Assisted Gravity Drainage ("SAGD") as evaluated by Sproule Associates Limited, assigned unrisked "Best Estimate" contingent resources for Andora of 292.0 million barrels of bitumen recoverable (209.6 million barrels net to Pan Orient's 71.8% interest in Andora) and unrisked "Best Estimate" net present value, discounted at 15%, for Andora's interests of $192 million on an after-tax basis ($138 million net to Pan Orient's 71.8% interest in Andora). The Sawn Lake operations are currently suspended and awaiting restart and commercial expansion. Contingent resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by the application of development projects, but which are not currently considered to be commercially recoverable due to one or more contingencies. The contingent resources volumes estimated in the Resources Report are considered contingent until such time as there are additional delineation wells confirming reservoir quality and continuity, refinement of the commercial development plan, regulatory approval for full field development, corporate commitment to move forward and financing for commercial development. There is uncertainty that it will be commercially viable to produce any portion of the reported contingent resources volumes. Please refer to Pan Orient's press release of June 13, 2022 for additional information.
Western Canada Select reference prices for heavy oil remained strong in the second quarter of 2022. At August 8, 2022, the price for Western Canada Select was Cdn$91.34 per barrel and the forward market for Western Canada Select in 2024 was Cdn$79.13 per barrel. Andora is considering alternatives to restart the existing steam SAGD facility and wellpair at Sawn Lake and move the Sawn Lake project forward with minimum development costs to Andora, including partnership, farmout, sourcing additional funds, partial sale or outright sale, and achieve value for shareholders.
For the first half of 2022, Pan Orient reports total operating expenses of $171 thousand associated with the Sawn Lake suspended SAGD facility and wellpair.
Options Expiring...
On September 19, 2014, the Issuer's Board granted the Reporting Person, options to purchase 600,000 shares each of common stock at an exercise price of $0.38 per common share, with one-third vesting immediately, one-third vesting on September 19, 2015, and one-third vesting on September 19, 2016, each with a five-year life from the original grant date. The Reporting Person has not exercised any of these outstanding options. These
options have now expired unexercised.
Shares owned by Malik Youyou...
104,783,897[color=red][/color]
I don't know if he has enough. I remember him buying at much higher levels years back too. I am sure his average cost must be higher then current share prices levels. Though he would have got a substantial dividend 5 years ago when they did that financing with M&P.
SUBSEQUENT EVENTS
In August of 2017, the Company participated in a well on the Company’s Sawn Lake properties. The well was drilled to a total depth of 681 meters. The results of this core well were used for an application for continuation of the mineral rights on one of the Company’s oil sands leases.
On November 21, 2017, the Company’s joint venture partner and operator of two jointly held oil sands leases, where the Company has working interests, submitted two continuation applications to the Alberta Oil Sands Tenure division to apply to continue two oil sands leases that were set to expire on July 10, 2018. On January 29, 2018, the Company’s joint venture partner received approval from Alberta Energy, under the Alberta Oil Sands Tenure Regulation, to continue 2,816 gross hectares (704 hectares net to the Company) of lands, with a non-producing status, effective July 10, 2018. These two continued leases have no future expiry dates but are subject to yearly escalating rental payments until they are deemed to be producing leases. On December 15, 2017, the Alberta Energy Regulator (“AER”) approved the previously submitted expansion application of the Company’s joint SAGD Project. The amended application sought approval to expand the existing SAGD Project facility site to 3,200 bopd (100% basis). It is anticipated that only five SAGD well pairs need to be operating to achieve this production level. While the joint venture has not yet approved to expand the SAGD Project, currently, the SAGD Project continues to move forward with engineering and identification of long lead time items towards potential expansion to 3,200 bopd and future development at Sawn Lake. First production from the SAGD Project began on September 16, 2014. As a result of the low-price environment for bitumen in 2015 and early 2016, a majority of the Company’s Joint Venture partners voted to temporarily suspend operations of the SAGD Project at the end of February 2016. On February 15, 2018, the Company participated in a well on one of its oil sands leases to acquire cores and logs through the Bluesky formation. The Company is currently analyzing the cores and logs
In early May of 2016, an amended application was submitted to the AER for an expansion of the existing SAGD Project facility site which would potentiallyincrease the operations up to a total of eight SAGD well pairs. The amended application sought approval to expand the current SAGD Project facilitysite to 3,200bopd (100% basis). It is anticipated that only five SAGD well pairs will be needed to achieve this production level. The AER approval forthe expansion of theexisting SAGD Project was granted on December 14, 2017[color=red][/color].
Currently, the SAGD Project continues to move forward with engineering and identification of longlead time items towards potential expansion to 3,200 bopd and future development at Sawn Lake. The SAGD Project expansion is dependent on, numerous factorsincluding but not limited to, the approval of the joint venture partners.
Filings finally starting to happen...
www.otcmarkets.com/stock/DWOG/filings
Financials from Y/E Sept 30, 2015 uploaded
Pan Orient Energy Corp.: Sawn Lake Alberta SAGD Heavy Oil Operations Update
CALGARY, ALBERTA--(Marketwired - Feb. 23, 2016) - Pan Orient Energy Corp. (TSX VENTURE:POE), on behalf of its 71.8% owned subsidiary Andora Energy Corporation ("Andora"), is providing an update for Andora's Steam Assisted Gravity Drainage ("SAGD") oil sands project at Sawn Lake Alberta, Canada.
Highlights
Bitumen production in 2016 at the Sawn Lake Demonstration Project has reached a steady state production level over the past seven weeks of 606 barrels per day ("BOPD") (303 BOPD net to Andora) with an instantaneous steam-oil ratio ("ISOR") of 2.2 from the one SAGD wellpair. Bitumen production, on a 100% basis, averaged 596 BOPD with an ISOR of 2.2 in January and has averaged 620 BOPD with an ISOR of 2.1 during the first 21 days of February. A December 31, 2014 contingent resources report by Sproule Unconventional Limited assigned the following values to the demonstration project SAGD well pair as 2016 averages: Low Case of 242 BOPD with an ISOR of 5.7; Best Case of 345 BOPD with an ISOR of 4: High Case of 449 BOPD with an ISOR of 3.1
The demonstration project commenced bitumen production in September 2014 and has successfully captured the key data associated with the objectives of the demonstration project. The demonstration project has:
demonstrated that the SAGD process works in the Bluesky formation at Sawn Lake
established characteristics of ramp up through stabilization of SAGD performance
indicated the productive capability and ISOR, and
provided critical information required for well and facility design associated with future commercial development.
Given the current low price environment for bitumen, Andora and its joint venture partners have decided to suspend the Sawn Lake Demonstration Project operations at the end of February 2016. This decision considers the expectation that extremely low bitumen prices may continue for some time and the estimated time required for approval of the 3,200 BOPD expansion application at the demonstration project site, which is being submitted in March 2016.
It is expected that a reactivation of the demonstration project facility and wellpair would be considered as part of a potential commercial expansion to 3,200 BOPD. An expansion is dependent on regulatory approval, completion of detailed engineering and a higher commodity price environment to support project economics and financing.
Work continues with respect to submitting the expansion application, and updating the Sawn Lake reservoir model and contingent resource report to incorporate the results of the demonstration project.
Production results to date are not necessarily indicative of long-term performance or of ultimate recovery and the Sawn Lake demonstration project has not yet proven that it is commercially viable.
Andora's SAGD Oil Sands Project at Sawn Lake
Andora is focused on developing the bitumen resources at the Sawn Lake property in the Peace River Oil Sands Region using SAGD development.
Andora has interests in 88 sections of oil sands leases at Sawn Lake, within the central Alberta Peace River Oil Sands area. Andora is the operator of both the 12 section Central Block, in which it holds a 50% working interest, and the 16 section South Block, in which it holds a 100% interest. In addition, the North Block contains nine sections where Andora is the operator with a 100% working interest, and an additional 51 sections where Andora has a 10% working interest and is a non-operator.
At December 31, 2014 a National Instrument 51-101 compliant contingent resources evaluation for Andora's oil sands project at Sawn Lake Alberta, Canada, was prepared by Sproule Unconventional Limited ("Sproule") based on development using SAGD. Contingent resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. The contingent resources volumes estimated in the Sproule Unconventional report are considered contingent until such time as commercial recovery has been confirmed with SAGD production rates from a SAGD pilot, regulatory approvals for commercial SAGD development have been obtained and the company has a firm commercial development plan and funding for the commercial development. Contingent Resources are further classified as "High", "Best" and "Low" in accordance with the level of certainty. There is no certainty that it will be economically viable to produce any of the reported contingent resources volumes.
The December 31, 2014 contingent resources report did not incorporate the results of the Sawn Lake demonstration project to that date since those results were very early stage at that point as the steam chamber continued to build.
The "Best Case" company gross contingent resources at Sawn Lake in the December 31, 2014 report were 214 million barrels of bitumen recoverable attributed to Andora's working interests. The Central Block was assigned 139 million barrels of bitumen recoverable, the South Block was assigned 74 million barrels of bitumen recoverable and the North Block was assigned 1 million barrels of bitumen recoverable. This represented 154 million barrels of recoverable bitumen attributed to the 71.8% ownership interest of Pan Orient in Andora.
Reference is made to Pan Orient's Annual Information Form Dated April 30, 2015, available on SEDAR, for additional information.
Sawn Lake SAGD Demonstration Project
The first step towards determining the commercial viability of the SAGD recovery process at Sawn Lake is a demonstration project to establish that the SAGD process works in the Bluesky formation reservoir and to provide an indication of the productivity of the reservoir and the amount of steam injection required to produce the bitumen, which are key components in assessing the potential for SAGD development at Sawn Lake.
Andora is the operator and holds a 50% working interest in the demonstration project, located in the Central Block of Sawn Lake, which commenced in 2013. The demonstration project consists of one SAGD well pair drilled to a depth of 650 meters and a horizontal length of 780 meters and the SAGD facility for steam generation, water handling and bitumen treating. Steam injection commenced May 21, 2014, bitumen production commenced September 16, 2014 and the steam chamber reached the top of the Bluesky formation sandstone reservoir in October 2015.
Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations located onshore Thailand, Indonesia and in Western Canada.
What can go wrong? Only 613,000,000 shares outstanding. And $208,922 cash on hand.
Deep Well SAGD Project Operations Update
EDMONTON, ALBERTA--(Marketwired - April 14, 2015) - Deep Well Oil & Gas, Inc. (and its subsidiaries - "Deep Well" or "Company") (OTCQB:DWOG) is pleased to announce the following operations update on its joint Steam Assisted Gravity Drainage project ("SAGD Project") located in Sawn Lake, Alberta.
The SAGD well pair was drilled to a vertical depth of approximately 650 meters with a horizontal length of 780 meters each. Steam injection began in May 2014 and circulated for up to four months with production commencing in mid-September 2014. The start of our bitumen sales averaged 221 barrels per day, half way through the 3rd thirty day period since the start-up of production. The production has since increased significantly. For the month of March 2015, bitumen sales averaged 319 barrels per day, with a Steam Oil Ratio ("SOR") of 5.4. In the last 16 days of March, the production averaged 350 barrels per day with an SOR of 4.9. A single daily production peak was achieved in March 2015 at 421 barrels per day. All of these production numbers are on a 100% basis with Deep Well owning a 25% working interest through its subsidiaries. Deep Well also beneficially owns 2.24% of Andora Energy Corporation. Over the next several months, bitumen production from the SAGD well pair is expected to increase as the steam chamber continues to develop. The steam chamber is now expected to reach the top of the Bluesky sandstone reservoir in April of 2015. Based on the operator's forecasts, the maximum production rates and a stable SOR are expected around September 2015. Below is a graph of the Average Daily Production Rate, by month, from this first SAGD well.
To view the graph, please visit the following link: http://media3.marketwire.com/docs/dwog0414adpr.jpg.
The objective of this initial pilot well pair was to establish that the SAGD process works in the Bluesky formation and to provide productivity information on the reservoir. Now that the start-up data from the SAGD project are available, the Company will use that information to start on the front end engineering of its Alberta Energy Regulator approved HCSS (Horizontal Cyclical Steam Stimulation) project. Deep Well and its Canadian subsidiaries, Northern Alberta Oil Ltd. and Deep Well Oil & Gas (Alberta) Ltd., have a 90 per cent working interest in 51 contiguous square miles of oil sands leases, an 100 per cent working interest in 5 contiguous square miles of oil sands leases and a 25 per cent working interest in 12 contiguous square miles in the Sawn Lake heavy oil area in North Central Alberta. The leases cover 17,408 gross hectares (43,015 gross acres).
Deep Well is fully committed to best practices in Environmental Stewardship to assure sustainable development of its in-situ heavy oil holdings
Technically was 100,000 shares not 1,000,000.
Pascal does own 594,311. Plus this thing is majority owned by insiders and Maurel et Prom.
Youyou buys again...
Between Oct 29-Nov 4. Buys another 190,000 shares. Up over 113,000,000 in shares held. Doesn`t include all his options/warrants.
What`s mean in short term, who knows. Long term, I can make a guess.
Extension...
As previously disclosed, on July 31, 2013, Deep Well Oil & Gas, Inc., through its subsidiary companies (the “Corporation”), entered into a Farmout Agreement (the “Farmout Agreement”) with MP West Canada SAS (the “Farmee”) to fund the Corporation’s share of the joint Steam Assisted Gravity Drainage project (the “SAGD Project”) located on the Corporation’s Sawn Lake oil sands acreage in Alberta, Canada.
Effective on November 17, 2014, the Corporation and the Farmee agreed to amend the Farmout Agreement (the “Amending Agreement”) to extend the expiry date of the Farmee’s option, from December 31, 2014 to December 31, 2015, to elect to acquire additional working interests of 45% to 50% in the remaining 56 sections of land where the Corporation has working interests ranging from 90% to 100%, by committing $110,000,000 of financing to the Corporation’s Sawn Lake oil sands project.
Pascal bought 200,000 shares at 20 cents Oct 27...
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=10288171
Must be China`s greatest secret...look at all the buying pressure?
2014-10-20 Q TAKD 0.0923 0.076 0.0923
2014-10-17 Q TAKD 0.0923 0.076 0.0923
2014-10-16 Q TAKD 0.0923 0.076 0.0923
2014-10-15 Q TAKD 0.0923 0.076 0.0923
2014-10-14 Q TAKD 0.0923 0.0923 0.0923 0.0923 0.0163 450 1 0.076 0.094
2014-10-13 Q TAKD 0.076 0.076 0.094
2014-10-10 Q TAKD 0.076 0.075 0.094
2014-10-09 Q TAKD 0.08 0.08 0.0755 0.076 0.0005 180,000 7 0.071 0.094
2014-10-08 Q TAKD 0.08 0.095 0.0755 0.0755 -0.0045 82,241 6 0.0755 0.094
2014-10-07 Q TAKD 0.0926 0.0926 0.08 0.08 -0.0036 2,750 2 0.0755 0.10
2014-10-06 Q TAKD 0.095 0.095 0.08 0.0836 -0.0114 195,500 9 0.071 0.10
2014-10-03 Q TAKD 0.094 0.095 0.094 0.095 71,004 6 0.085 0.10
2014-10-02 Q TAKD 0.095 0.085 0.095
2014-10-01 Q TAKD 0.095 0.085 0.10
2014-09-30 Q TAKD 0.095 0.095 0.095 0.095 0.01 10,300 2 0.085 0.10
2014-09-29 Q TAKD 0.09 0.095 0.085 0.085 30,000 3 0.085 0.095
2014-09-26 Q TAKD 0.085 0.085 0.085 0.085 0.003 550 1 0.085 0.09
2014-09-25 Q TAKD 0.082 0.082 0.082 0.082 4,175 1 0.083 0.09
2014-09-24 Q TAKD 0.09 0.09 0.082 0.082 -0.008 10,100 2 0.082 0.09
2014-09-23 Q TAKD 0.09 0.09 0.09 0.09 -0.009 1,000 1 0.09 0.095
2014-09-22 Q TAKD 0.099 0.082 0.095
2014-09-19 Q TAKD 0.099 0.082 0.099
2014-09-18 Q TAKD 0.099 0.081 0.095
2014-09-17 Q TAKD 0.099 0.071 0.18
2014-09-16 Q TAKD 0.08 0.099 0.08 0.099 0.004 33,250 4 0.081 0.099
2014-09-15 Q TAKD 0.095 0.095 0.095 0.095 -0.005 15,000 2 0.08 0.099
2014-09-12 Q TAKD 0.10 0.10 0.10 0.10 1,074 1 0.08 0.099
2014-09-11 Q TAKD 0.10 0.08 0.099
2014-09-10 Q TAKD 0.10 0.08 0.099
2014-09-09 Q TAKD 0.071 0.10 0.07 0.10 0.02 148,650 5 0.08 0.10
2014-09-08 Q TAKD 0.085 0.085 0.07 0.08 -0.005 232,688 6 0.071 0.08
2014-09-05 Q TAKD 0.085 0.085 0.0655 0.085 0.0062 30,690 6 0.085 0.0899
2014-09-04 Q TAKD 0.08 0.085 0.0788 0.0788 -0.0012 231,268 7 0.0651 0.085
2014-09-03 Q TAKD 0.08 0.085 0.08 0.08 234,700 9 0.075 0.08
2014-09-02 Q TAKD 0.055 0.08 0.055 0.08 0.02 247,799 9 0.055 0.08
2014-08-29 Q TAKD 0.1075 0.1075 0.05 0.06 -0.0475 315,443 18 0.055 0.065
2014-08-28 Q TAKD 0.1075 0.1075 0.1075 0.1075 4,600 2 0.105 0.11
2014-08-27 Q TAKD 0.1075 0.1075 0.1075 0.1075 1,400 1 0.1075 0.1099
2014-08-26 Q TAKD 0.1075 0.1075 0.1075 0.1075 -0.0025 10,100 1 0.1075 0.1099
2014-08-25 Q TAKD 0.11 0.105 0.12
2014-08-22 Q TAKD 0.11 0.105 0.11
2014-08-21 Q TAKD 0.11 0.105 0.12
2014-08-20 Q TAKD 0.11 0.105 0.20
2014-08-19 Q TAKD 0.11 0.11 0.11 0.11 900 1 0.105 0.12
2014-08-18 Q TAKD 0.11 0.11 0.105 0.11 96,275 3 0.105 0.12
2014-08-15 Q TAKD 0.11 0.11 0.11 0.11 170 1 0.105 0.12
2014-08-14 Q TAKD 0.11 0.105 0.11
2014-08-13 Q TAKD 0.11 0.105 0.20
2014-08-12 Q TAKD 0.11 0.105 0.12
2014-08-11 Q TAKD 0.11 0.105 0.11
2014-08-08 Q TAKD 0.11 0.11 0.11 0.11 10,000 2 0.105 0.20
2014-08-07 Q TAKD 0.11 0.106 0.12
2014-08-06 Q TAKD 0.11 0.106 0.11
2014-08-05 Q TAKD 0.11 0.11 0.11 0.11 0.004 200 1 0.105 0.11
2014-08-04 Q TAKD 0.106 0.106 0.12
2014-08-01 Q TAKD 0.106 0.106 0.12
2014-07-31 Q TAKD 0.11 0.11 0.106 0.106 -0.004 14,364 2 0.106 0.12
2014-07-30 Q TAKD 0.11 0.11 0.107 0.11 305,000 7 0.105 0.11
2014-07-29 Q TAKD 0.11 0.105 0.12
2014-07-28 Q TAKD 0.11 0.105 0.11
2014-07-25 Q TAKD 0.11 0.11 0.11 0.11 10,000 2 0.021 0.20
2014-07-24 Q TAKD 0.11 0.11 0.11 0.11 0.005 500 1 0.105 0.12
2014-07-23 Q TAKD 0.11 0.11 0.105 0.105 -0.004 149,596 3 0.021 0.20
2014-07-22 Q TAKD 0.109 0.021 0.20
Mobile Old Site Home Daily Products Help Contact Us Your Account System Status
© 2014 Canjex Publishing Ltd. All rights reserved. "Stockwatch" is a registered
DON'T BE SURPRISED BELOW $90
Unfortunately this doesn`t help...
http://www.reuters.com/article/2014/10/13/oil-saudi-policy-idUSL2N0S80L020141013
Global benchmark Brent crude oil futures have fallen steadily for almost four months, dropping 23 percent from a June high of over $115 a barrel as fears of a Mideast supply disruption ebbed, U.S. shale production boomed and demand from Europe and China showed signs of flagging.
Brent fell below $88 a barrel on Monday, hitting its lowest in almost four years, after news of the Saudi and Kuwaiti statements.
James Wu hasn`t done jack for Canadian Shareholders. And now 600,000,000 shares outstanding. Great things.
Pascal buys 200,000 shares 34/35 cents in June and then Sept.
Our banker friend buys some more...
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=10217873
Wonder if there is a plan to get off the OTCBB.
From Pan Orient`s news release today...
Canada
Capital expenditures for the Sawn Lake SAGD demonstration project were $6.7 million during the first half of 2014, with $4.1 million in the first quarter and $2.6 million in the second quarter. These expenditures related to construction of the SAGD facility for steam generation, water handling and oil treating, and for final installation of the water source and disposal facilities.
Canada
Sawn Lake (operated by Andora, in which Pan Orient has a 71.8% ownership interest)
Andora has a 50% working interest in the Sawn Lake SAGD demonstration project, and is the operator. The first step towards determining the commercial viability of the SAGD recovery process at Sawn Lake is for the demonstration project to provide an indication of the productivity of the reservoir and the amount of steam injection required to produce the bitumen, which are key components in assessing the potential for SAGD development at Sawn Lake.
For Phase 1 of the SAGD demonstration project, one SAGD well pair was drilled in the fourth quarter of 2013 to a depth of 650 meters and has a horizontal length of 780 meters. Construction of the SAGD facility for steam generation, water handling and oil treating was completed in 2014.
Steam injection at the Sawn Lake SAGD demonstration project commenced on May 21, 2014. Steam has been injected into both the SAGD injector well and the SAGD production well for approximately three months. These wells are being monitored to determine the timing for recompleting the SAGD production well for production. It is expected that bitumen production will commence in early September 2014.
Youyou Malik buys more...
I guess our largest shareholder of over 112,000,000 shares wasn`t happy with his small position. SEC filings show he has purchased another 600,000 over last few months at 29-30 cents.
A mere 568,447,306 shares outstanding...
On October 30, 2013, Million Talented Ltd., a third party, contributed $516 (equals to HKD 4,000) to obtain 40% ownership of TransAKT Bio Agritech Ltd., formerly named as TransAKT (H.K) Ltd., (“TransAKT H.K.”). TransAKT H.K. was incorporated in Hong Kong on November 20, 2007. It had no operation until 2013. TransAKT H.K.'s primary business is conducting research and development on new agricultural technology relating to the Company’s business
From Pan Orient`s AIF found on Sedar.com
2013
Andora commenced Phase 1 of the Sawn Lake SAGD demonstration project during 2013, in the Central Block of Sawn Lake
where Andora is the operator and holds a 50% working interest. Phase 1 in 2013 / 2014 consists of drilling one SAGD well pair,
construction of the SAGD facility for steam generation, water handling and oil treating, and installing water source and disposal
facilities. The SAGD wells were drilled in the fourth quarter of 2013 to a depth of 650 meters and have a horizontal length of
780 meters. Final construction of the SAGD facility is currently being completed and steam injection at the project is scheduled
for May 2014. After three months of steam injection, bitumen production is anticipated at approximately the end of July 2014.
Vegfab Vegetable Factory (Yangmei City, Taiwan)
TransAKT's vegetable production factory in Yangmei City, Taiwan is the first of it's kind, and the only mass production facility for vegetables in Taiwan, utilizing revolutionary technology to produce extraordinary yeilds from a very small space. Production is extemely efficent through the use of simulated sunlight from LED lamps, up to 85% automated, and with full control of the growing environment there is no need to apply harmful pesticides to the crops. Vegetables grow from seeds to harvest ready approximately 35 percent quicker than vegetables grown in soil. Our vegetables have been tested by SGS Labs and are certified to meet, or exceed European standards for nitrate, heavy metal, and bacteria content.
Specifications
Size
1,800 square meters (19,375 square feet)
Total Production Area
10,602 square meters (114,119 square feet)
Capacity
600,000 plants (1,800,000 plants per month)
Output
Approximately 75,000kg/month (varies depending on variety of vegetables grown)
Vertical Multi-layered Production
Populations are growing rapidly, the world's 7 billionth baby was born in October 2011, and as a result land is more valuable than ever before. Our factory can produce nearly 2 million plants each month with less than 20,000 square feet by stacking the growing space. Vegfab's growing racks are vertically layered, 10 layers in total, making our use of land 10 times more efficent than a traditional farm. Ordinary hydroponic operations cann't operate with this level of efficiency because they rely on high wattage HID lamps which produce too much heat and rely heavily on the use of air conditioning to regulate the temperature of the greenhouse. Our proprietary LED lighting system can be placed much closer to the plants without causing any damage because they cool to the touch.
Simulated Sunlight from LED Lamps
Vegfab uses a unique soilless hydroponic system that uses LED lighting to simulate light from the sun and promotes rapid growth of vegetables. With a capacity of 600,000 plants our factory utilizes LED panels with more than 18,000 individual LEDs. Vegetables, like other living things, require rest as part of their growth cycle. Our system automatically delivers light for the ideal amount of time each day (12 to 14 hours).
Enviroment control
Grow vegetables in places where in-ground agriculture or gardening are not possible. Growing vegetables indoors allows complete control of the growing environment, as a result production is not limited by climate and seasonality.
Automation
Operation of the factory requires only 12 to 13 employees, this is made possible by our use of electronically controlled automation systems. Up to 85% of the production process is automated with a combination of electronic and mechanical automation systems. The growing environment and plant nutrition are electronically controlled to deliver ideal growing conditions.
Efficiency
The factory uses the most efficient and economical vegetable growing system available. The water stays in the system and can be reused, LED lights consume much less electricity than standard grow lights, and nutrition levels are control in their entirety. Vegfab hydroponic systems are optimized to reduce waste and get the most out of valuable natuaral resources.
Quality Assurance
Did you know that if you consumed an average apple you would be eating over 30 pesticides, even after you have washed it?
Our vegetables have been tested by SGS Labs and are certified to meet, or exceed European standards for vegetables/
Nitrate content
Standard nitrate content in traditional farm grown vegetables is 4,000 parts per million, Vegfab vegetables contain just 1,110 parts per million.
Bacteria content
Standard nitrate content in traditional farm grown vegetables is 4,000 parts per million, Vegfab vegetables contain just 1,110 parts per million.
Heavy metal elements
Vegfab vegetables are free of heavy metals (lead, mercury etc.).
Pesticides
Vegfab vegetables are certified pesticide free.
Well played move by DWOG to repurchase GORR...
In March 2014, the 3% gross overriding royalty ("GORR") on a portion of the non-owned working interests in 12 sections of the Central Block and 24.5 sections of the North Block was repurchased by a joint venture partner with $2.7 million paid to Andora. This sale of the GORR by Andora was part of an agreement with joint venture partners that allowed the demonstration project to move forward and enabled the joint venture partners to fund their share 50% share of the demonstration project. The net present value of the "Best Case" (discounted at 10% after income tax using forecast prices) attributed to Pan Orient's 71.8% share of the Sawn Lake contingent resources for the GORR interests is $55 million on a before tax basis and $41 million on an after tax basis. The sale price of the GORR reflects that commercial viability of SAGD development at Sawn Lake has not yet been established, and that key economic parameters need to be determined with the demonstration project
More value for DWOG...
Been awhile since I read the financial statements, forgot we had these...2,241,558 shares of Andora...
On November 15, 2005, as part of a settlement agreement, we agreed to amend the Farmout Agreement signed on February 25, 2005
between our Company and Surge that had previously been terminated by Deep Well (as previously disclosed on Form 8-K on September 29,
2005). The amendments to the agreement provided that: 1.) all current conditions of the Farmout Agreement dated February 25, 2005 will be deemed to have been satisfied as at September 25, 2005; 2.) the earning period (the period during which Signet has to drill 10 wells) under the agreement will be extended until February 25, 2008; 3.) Signet will have until September 25, 2006 to drill an option well (the second well); 4.) an additional 6.5 sections of land will be added to the land subject to the agreement; 5.) Signet will pay Deep Well $1,000,000 on November 15, 2005 in satisfaction of the prospect fee outstanding instead of after drilling the second well as stated in the agreement; and 6.) no shares of Surge US would be issued to Deep Well or Northern, but rather we would receive 7,550,000 common shares of Signet (now known as Andora), a private subsidiary company of Surge US.
On February 25, 2005, the Company acquired an interest in Signet Energy Inc. (“Signet” formerly Surge Global Energy, Inc.) as a
result of a Farmout Agreement. Signet amalgamated with Andora Energy Corporation (“Andora”) in 2007.
As of November 19, 2008, the Company converted its Signet shares into 2,241,558 shares of Andora, which represents an equity
interest in Andora of approximately 2.24% as of September 30, 2012, which is Andora’s fiscal year end. These shares are carried at a nominal value using the cost method and their value is included under oil and gas properties on the Company’s balance sheet.
Pretty impressive to have as a partner and 20% owner of DWOG. Then there is the majority shares owned by the insiders. We as retail shareholders can take comfort in their support.
I would think a listing elsewhere would be wise. Being listed OTC served the company well enough in past while management was putting everything in place. For last few years I viewed DWOG almost as a private company which the management and largest shareholders were doing the background work. And when needed would fund the company through Youyou Malik`s investments.
Now the `private co` so to speak is ready to go public where the largest shareholders can start to be financially rewarded for their time/invesments.
Send him a private message if you don`t want others to comment. Or call the company and not bother posting here.
Humorous financing...
Effective September 16, 2013, the directors of our company approved the entering into of private placement subscription agreements to raise an aggregate of $10,000,000 to be used as additional capital for our business operations. Our company shall offer private placement subscription agreements based on the current market price of our company’s securities and the degree of interest expressed by investors in such an offering as follows:
(1. 30,986 shares at US$0.03 per share;
2. 4,017,557 shares at US$0.04 per share;
3. 29,768,176 shares at US$0.045 per share;
4. 21,961,580 shares at US$0.05 per share;
5. 4,525,102 shares at US$0.06 per share; and
6. 80,375,000 shares at US$0.08 per share
Golfboy...and I am starting to think you are a foolish little boy who likes to play with small balls. Maybe pick up the phone and call the company yourself then repeatedly asking others to talk to the company. Public company. They will answer whatever questions legally they can answer.
Did you not read the news releases from early August? Where DWOG secured a partner who is paying for DWOG`s share in both projects + $22m + carrying operating expenses of DWOG.