haben sich die panikverkaeufe wieder ein bissl relativiert bzw. sind wir mittlerweile wieder auf einem etwas hoeheren niveau. jetzt heissts abwarten auf den anechsten sidetrack in etwa 30 tagen, der hoffentlich erfolgreicher sein wird. dieser befindet sich geologisch jedoch in einem der channels, welche in der naehe der ersten fuendigen bohrung erbohrt wurden, was bessere net to gros ratios und porositaeten ergeben sollte. aber in der geologie ist ja alles moeglich ;-)
manchmal scheinen das nur Durchhalteparolen zu sein, aber das sind es, meiner Meinung nach nicht, da ich wirklich ueberzeugt von dem Unternehmen bin. Und diese Zahlen sagen es ja auch aus....nur Cladhan muesste einen SP von 1,57 Pence erwirken, was nicht der Fall ist. Und ich behaupte NOCH nicht ;-) Naja, vielleicht haben ja der eine oder andere die moeglichkeit genutzt nochmal sehr guenstig einzusteigen. Mir hat es ja auch in den Fingern gekribbelt, aber mein Depot ist sowieso schon schwer Encore lastig...mit den anderen kleinen oilies auch nicht wirklich ausgewogen ;-) Na dann hoffen wir mal weiter...
Allein der Net Asset Value wird hier von Westhouse Securities auf 127 pence beziffert. Und wir stehen bei 66 Pence.
"Peter Bassett, analyst at Westhouse Securities, said: "This is clearly a disappointing result, which removes significant upside from the Cladhan find. We have reduced our estimate of oil in place in the Cladhan reservoir to 200 million barrels. The result has led us to recalculate the NAV for EnCore at 127p, which becomes our new target price."
EnCore Oil (LSE: EO.) announces that, in light of current market conditions, exacerbated by the uncertain investment climate created following the recent tax changes, the Board has decided to cancel the flotation of XEO Exploration and the related offer to EnCore shareholders.
Commenting on the decision, EnCore Chief Executive Alan Booth said:
“In the few weeks since the Treasury announced substantive taxation changes, the market appetite for UK North Sea exploration has diminished markedly. Against that background, we were encouraged by the indicated institutional support we received for XEO, but given that the whole strategy behind XEO was to pre-fund a ten to twelve well three year exploration programme without the continual need for fundraising, we felt that it was prudent to withdraw the flotation.”
Der Kursverfall ist also dieser Taxregulierung geschuldet, neben dem dry well natuerlich. Was das nun fuer Auswirkungen fuer EO hat, will ich mir gar nicht vorstellen. Sie Antwort von Yvonne Beitrag 197
STERLING RESOURCES ANNOUNCES RESULTS OF FINAL WELL OF CLADHAN APPRAISAL PROGRAM Erschienen in Alphatrade finance
CALGARY - Sterling Resources Ltd. ("Sterling" or the "Company") (TSXV: SLG) announces the completion of drilling of the 210/30a-4X well on Block 210/30a in the United Kingdom North Sea. This is the fourth well (third side-track) drilled in the current four well campaign to further appraise the extent of the Cladhan reservoir.
The 210/30a-4X well was drilled in the most southern limit of the northern core area in a potentially separate channel, utilizing the Transocean Prospect rig. The objectives of the 210/30a-4X sidetrack well were to core the full reservoir section approximately one kilometre south and approximately 60 feet updip of the oil bearing 210/30a-4 well, and evaluate the southern fringe of the northern core area.
The 210/30a-4X well was drilled to a total measured depth (MD) of 10,614 feet encountering 171 feet gross, 105 feet net (vertical thickness) of high quality Upper Jurassic sands. Almost 180 feet of core was successfully recovered across the full reservoir section.
Petrophysical analysis of the interval showed five feet of oil-bearing sand at the top of the interval with an Oil-Down-To at 10,177 feet True Vertical Depth Subsea (TVDSS). An oil sample was obtained from the interval. A further 100 feet of water-bearing sand was encountered below thin shale which separates the top and bottom sands. A clear contact has not been observed although the top and bottom sands appear to be in pressure communication. The presence of a known Oil-Down-To bodes well for updip oil in other channels with the same pressure regime.
Generally, reservoir quality is very good with porosities up to 25 percent, substantiated by measurements obtained while taking fluid samples. These pressure measurements also confirm that the interval is over-pressured on trend with the 210/30a-4Y well, but some 900 psi lower than the discovery area. The implication of this information is that the southern fringe of the northern channel area is in communication with the central channel, being distinct from the main reservoir in the northern channel area. The well will be suspended for possible re-use as a future development well at this location or elsewhere after a sidetrack. With the completion of this four well drilling campaign, RPS Energy will start a review of the Cladhan resources with the intent of publishing an update report within a few weeks.
"Notwithstanding the presence of predominantly wet sands at this depth in this separate channel compartment, we are encouraged by the presence of oil in the top sand and by reservoir quality at this location. Further updip prospectivity is certainly promising," remarked John Rapach, Sterling's Chief Operating Officer. "We have proved that our current seismic model can adequately predict sand thickness but reservoir quality definition is now paramount for further appraisal and development drilling. Our next planned subsurface activity is to complete full reprocessing and interpretation of the existing seismic dataset incorporating all of the log, core, fluid and pressure results obtained during this current drilling campaign. Consequently, the next drilling campaign will probably commence in early 2012," noted Mr. Rapach.
"Our development planning is concentrating on either a subsea tie-back or FPSO development of the main northern core area with further definition of reserves and resources during our next drilling campaign. We are commencing pipeline route and environmental survey work within the next few weeks," added Mr. Rapach.
Mike Azancot, Sterling's Chief Executive Officer, commenting on these results noted that: "The current exploration and appraisal drilling campaign on Cladhan has been successful in increasing the height of the oil column by 798 feet to 1228 feet in total. The extent of the development of the northern core area is now better defined with this increase in oil column. The fan area in the east of the field remains prospective as the results from the 210/30a-4Z well drilled in this campaign are not conclusive due to its proximity to a major fault. Our plan towards development with options for increased resource exploitation after further drilling is now underway with a target for first oil in 2014."
Sterling holds a 39.9% interest in license P1064 which contains Cladhan, and is the operator. The partners are Wintershall (UK North Sea) Ltd. with 33.5 percent, Encore Petroleum Ltd with 16.6 percent and Dyas UK Ltd with 10.0 percent.
Sterling Resources Ltd. is a Canadian-listed international oil and gas company headquartered in Calgary, Alberta with assets in the United Kingdom, Romania, France and the Netherlands. The shares are listed and posted for trading on the TSX Venture Exchange under the symbol "SLG".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements included in this press release that address activities, events or developments that Sterling expects, believes or anticipates will or may occur in the future are forward-looking statements. In addition, statements relating to reserves or resources are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions that the reserves and resources described can be profitably produced in the future.
These forward-looking statements involve numerous assumptions made by Sterling based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other-forward looking statements will prove inaccurate, certain of which are beyond Sterling's control, including: the impact of general economic conditions in the areas in which Sterling operates, civil unrest, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with oil and gas operations. Readers should also carefully consider the matters discussed under the heading "Risk Factors" in the Company's Annual Information Form.
Undue reliance should not be placed on these forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Sterling's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. These statements speak only as of the date of the press release. Sterling does not intend and does not assume any obligation to update these forward-looking statements except as required by law.
Financial outlook information contained in this press release about prospective results of operations, financial position or cash flows is based on assumptions about future events, including economic conditions and proposed courses of action, based on management's assessment of the relevant information currently available. Readers are cautioned that such financial outlook information contained in this press release should not be used for purpose other than for which it is disclosed herein.
Cladhan 'could be more than one field' Erschienen in The Press and Journal Seite 25 Erscheinungsdatum 04/06/2011
ENCORE UPDATES ON NORTH SEA FIND
BY ELAINE MASLIN
UK exploration and production company EnCore Petroleum said yesterday the North Sea Cladhan discovery could be more than one field.
After finishing this year's drilling campaign at the site, EnCore said its fourth and final appraisal well drilled south of the main discovery found oil and there could be another separate accumulation.
The 210/30a-4z well was a sidetrack to assess Cladhan's central channel, which is now thought to be separate from the main northern channel.
A previous well had showed the northern channel had an oil column of more then 1,200 feet.
The Aim-listed oil explorer said it now planned to carry out further appraisal wells on Cladhan starting early next year.
Chief executive Alan Booth said: "It is looking that instead of Cladhan being one large site it is a good size, with one or possibly two separate accumulations."
EnCore holds a 16.6% stake in licence P1064, which contains Cladhan. Partners include Sterling Resources (39.9%), Wintershall (33.5%) and Dyas UK (10%).
Canada-based operator Sterling said the final appraisal well had been drilled to 10,614 feet and encountered 171ft of high-quality Upper Jurassic sands.
Expectations have been rising that Cladhan will be one of the biggest discoveries in the basin in years.
It was estimated last October that the discovery, 225 miles north-east of Aberdeen, could hold more than 300million barrels of oil.
A variety of development choices include a subsea tieback to another installation in the area, a floating production vessel or even a platform.
The next well EnCore will be drilling will be on its operated Tudor Rose find in the central North Sea.
. ? Seabed-to-surface engineering group Subsea 7 has won a £30million contract with South Korean-owned oil firm Dana Petroleum.
Subsea 7's Aberdeen office has already started engineering work on the Surf (subsea umbilicals, risers and flowlines) contract for Dana's Triton field in the Greater Guillemot area of the North Sea.
The work will include the engineering, fabrication and installation of a 151/2-milewater-injection pipeline, the installation of a 10-mile static umbilical and umbilical riser base, plus tie-ins, testing and pre-commissioning.
Offshore installation is expected later this year.
leider hast Du recht. Der Markt reagiert wirklich nicht darauf....genauso wenig wie auf die anderen Meldungen. Die Anleger sind sehr verunsichert wegen der Taxregulierung, welche besonders die kleinen Explorer trifft. Dass die sich auch ausgerechnet jetzt so einen Mist haben einfallen lassen muessen!!! Das wird die ganze Exploration in der maturen Nordsee stagnieren lassen, wenn es sich fuer kleine Firmen nicht mehr lohnen sollte. Aber lies hier mal...vielleicht gibts Hoffnung, dass es auch ein relief fuer kleine Explorationsoelfirmen gibt.
Bubble hat wohl keine Ahnung, sonst wuerde er nicht so einen Mist von sich geben. Der NAV ist nicht abzusprechen genausowenig wie das vorhandene Know How und Cash. Wenn die anderen Lizenzen von EO. nichts waeren, haette AB bestimmt nicht den Aufwand betrieben diese ueber die neue Firma XEO retten zu wollen. Er haette den ganzen Laden ja dann auch so verkaufen koennen. Dass dieses Tax Gesetz in genau dem MOment kommen musste, als sie den Fund announcten konnte keiner ahnen. Damit, dass sich der Kurs so entwickelt und dass der Markt auf positive Nachrichten gar nicht oder nur negativ reagiert, habe ich ehrlich gesagt aber auch nicht gerechnet und bin selbst sehr enttaeuscht. Aber generell alle Explorer nieder zu machen zeugt davon, dass dieser Herr nicht aus dem Oelbusiness kommt, von daher Klappe halten, wenn man nichts davon versteht. Ich denke es wird eine Weile dauern bis wir aus dem Rot wieder draussen sein werden. Dennoch ist die Firma selbst ein klares Invest IMHO...
Britain is planning to give relief to small gas fields hit by higher taxes on North Sea energy companies, according to Total, a major producer.
Gas companies have argued that they will have to shut some projects because of the higher
By Rowena Mason, Energy Correspondent5:50AM BST 08 Jun 2011Comment Chancellor George Osborne raised the tax rate for North Sea companies to between 60pc and 82pc, depending on the size of the field, at the Budget. He indicated then that the Treasury would consider some help for fields made uneconomic by the move. Patrice de Vivies, Total's senior vice-president for Northern Europe, said yesterday that this looked likely to happen. "They signalled to us that they would introduce specific incentives towards gas," said Patrice De Vivies. "The details are not yet defined. They want to reduce the negative impact on gas via field allowances." A spokesman for the Treasury insisted that there had been no backtracking on the policy and "nothing had changed" since its pledge to consider incentives.
Gas companies have argued that they will have to shut some projects because of the tax, potentially raising prices for UK consumers because of greater reliance on imports. Scottish Power yesterday raised its gas prices by almost 20pc. --------------------------------------------------
...sehe ich die Sache auch (Aus iii Forum): Fundamentaldaten sind einfach Top!
So the sp is down a lot from the highs of 1.50 and we all feel stupid for not selling at the highs seen. But we could in 6-12 months time feel like more stupid for not topping up at the current depressed sp.
Look at the simple fundamentals of encore
Great experienced bod which are large share holders...check
2 stakes in high quality oil north sea assets....check
Well below nav...check
Still substantial upside...check
Funded for the medium term...check
Larger companies eyeing up are finds...check
Simple fact is the Market is nervous and all oilers are currently cheap. This won't last forever. Encore is a news driven share and we have no major news due in the short term hence the depressed sp. Investors are looking for quick gains and encore won't provide this and also we are heavily traded by retail investors who probably don't understand what encore has.
AB is no spring chicken he knows the finds encore have are a once in a life time opportunity for him and the bod. He will be in no rush to let the assets go cheap. He will develop the assets to prove up more value and then sell them when he thinks they can't squeeze another penny out of them.
As long term holders this is no fun at the minute but encore is a quality outfit with a good leader. Sure pr could be a bit better but ultimately AB wants to deliver value and not worry about been super slick.
As soon as I have more funds I will be topping up. I still believe encore will ride back to above 1.50 but this won't be next week or next month. Patience is the key, if making money were simple quick and easy then we would all be millionaires. GL all.
Or EnCore Oil, down 3¼p at 57½p. The North Sea oil company was said by traders to be speaking to Premier Oil, EnQuest and Wintershall, of Germany, about the disposal of its 15 per cent stake in the Catcher field or a takeover of the whole company. The rumours may be persistent, but EnCore has made no statement to the market about them.
EnCore Oil plc (LSE: EO.) and its P1655 (Block 15/21g) partners, Nautical Petroleum plc and Serica Energy plc (the P1655 group), announce they have agreed terms to acquire a 70 per cent. interest in a part of adjoining Licence P218 (Block 15/21a). P218 is currently operated by DEO Petroleum with co-venturers, Faroe Petroleum plc, Maersk Oil UK Ltd and Atlantic Petroleum (the P218 group). The area in P218 to be acquired includes the 15/21a-38z Spaniards/Gamma discovery well, drilled in 1989 by Amerada Hess, which flowed 2,600 bbls/day of 26 API oil on test. In consideration, the P1655 group have agreed to assign the P218 group a 30 per cent. interest in P1655, and have agreed to fund the cost of the first well to appraise the Spaniards/Gamma discovery. It has also been agreed that a subsequent appraisal well, if deemed necessary and approved by the partnership, would be funded on promoted terms by the current P218 partners as shown in the table below, after which funding for any further wells would be by equity share.
Subject to DECC approval, it is expected that part of the P218 licence will be amalgamated into P1655 and it is anticipated that the initial equities and funding obligations in the newly enlarged P1655 licence will be as follows:
EnCore has also, subject to necessary DECC approvals, acquired a 50 per cent interest in the above mentioned 26(th) Round Promote licences under the terms of a pre-existing option agreement between EnCore and Echo Exploration Limited for a nominal sum. Echo Exploration is a 100 per cent. owned subsidiary of North Sea Energy Inc..
Block 15/21d contains the 15/21-50 "Beehive" discovery well, drilled by Amerada Hess in 1993 which flowed 5,700 bbls/day of 28 API oil on test.
Alan Booth, Chief Executive of EnCore commented:
"We are especially pleased to have reached agreement with the P218 group to progress the further evaluation of the Spaniards/Gamma discovery. Although not without risk, if suc --------------------------------------------------
: 95 pence waeren doch mal was...also los!!
Scrappy selling left Encore Oil a penny lower at 59.975p.
RBC Capital Markets says Encore remains one of the clearest takeover targets within the international exploration and production space but has reduced its target price to 95p from 98p after revaluing its Catcher Area discoveries.
Nun ist das Boembchen also geplatzt. Fuer 70 Pence geht der Zuschlag an Premier Oil. Ein wenig enttaeuschend scheint mir das schon zu sein. Nun stellt sich die Frage, ob Aktien zu tauschen oder das Angebot anzunehmen...
Habt Ihr mittlerweile ein Angebot von Eurem Depotfuehrer bekommen, ob Ihr die Papiere umtauschen koennt oder nicht? Ich habe die Info von Flatex die Mitteillung bekommen, dass dies moelgich ist. Von einer anderen Bank kam die Mitteiluung, dass dies nicht funktioniert, da die in D erworbenen Aktien nur depositaries share sind, die nicht bererchtigen diese in PMO Aktien zu tauschen. Auch Yvonne von Encore Oil bestaetigte dies. Aus diesem Grund habe ich meine Aktien jetzt verkauft, da man im Moment mehr als umgererchent 70 Pence fuer die Papiere bekommt...werde nun so PMO kaufen, ohne Umtausch. Habt Ihr Infos?