Calvalley Petroleum, die Quelle sprudelt...

so ich bin mal eingestiegen.

hört sich doch recht gut an, die quelle sprudelt...

infos gibts auf der hp http://calvalleypetroleum.com/

und hier hab ich auch noch welche


Calvalley Petroleum Inc. Releases First Quarter Results
Tuesday May 15, 5:01 pm ET

CALGARY, May 15 /CNW Telbec/ - Calvalley Petroleum Inc., (TSX: CVI.A - News)

Calvalley Petroleum Inc. (the "Company" or "Calvalley"), an international oil and gas exploration and production company based in Calgary, Alberta, is pleased to announce the release of its operating results and interim consolidated financial statements for the first quarter of 2007. All financial information is stated in United States dollars.

The Company has filed its quarterly report, including the interim consolidated financial statements and management's discussion and analysis, on SEDAR (www.sedar.com). This quarterly report can also be found on Calvalley's website at www.calvalleypetroleum.com.

          §    Financial Highlights

          §    --------------------------------------------------
          §                                                        Three months ended
          §                                                              March 31
          §                                                     ------------------------
          §    (in thousands of dollars)                             2007          2006
          §    --------------------------------------------------

          §    Revenue from crude oil sales                        10,882            47
          §    EBITDA(1)                                            8,766          (863)
          §    Operating income(1)                                  6,297          (871)
          §    Net income (loss)                                    6,164        (1,236)
          §    Capital expenditures                                 7,114         5,875
          §    Cash flow from operations(1)                         8,812        (1,228)
          §    Cash flow from operating activities                 (3,227)       (1,265)
          §    --------------------------------------------------
          §    (1) Refer to "Non-GAAP Measures" in Management's Discussion and Analysis

          §    - Calvalley generated revenue of $10.9 million from sales of
          §      180,000 barrels of crude oil at an average selling price of
          §      $60.43 per barrel
          §    - Net income of $6.2 million during the first three months of 2007
          §      compared with a loss of $1.2 million during the first quarter of 2006
          §    - Strong cash flow generation during the quarter, with EBITDA of
          §      $8.8 million and cash flow from operations before changes in non-cash
          §      working capital of $8.8 million
          §    - Cash flow from operations of $8.8 million exceeded capital expenditures
          §      of $7.1 million
          §    - Calvalley continues to be well-financed and capitalized, with no
          §      outstanding debt and working capital of $74.3 million, including
          §      $53.7 million of cash on hand

          §    Operating Highlights

          §    - Gross daily production from Block 9 for the quarter was slightly lower
          §      than the preceding quarter, as several wells were temporarily shut-in
          §      for testing and to facilitate construction activity

          §    --------------------------------------------------
          §                                                        Three months ended
          §                                                     ------------------------
          §                                                      March 31,  December 31,
          §    (barrels of oil per day)                              2007          2006
          §    --------------------------------------------------

          §    Total Block 9 production                             5,404         5,443

          §    Calvalley share of production:
          §    Gross working interest                               2,702         2,722
          §    --------------------------------------------------

          §    - After drilling the Hiswah 21 horizontal well, Rig(number sign)1 moved
          §      to the Al Roidhat field and drilled two vertical development wells
          §      (Al Roidhat 5 and Al Roidhat 6)
          §    - Calvalley contracted a second drilling rig (Rig(number sign)2) which
          §      drilled two multilateral legs on the existing Hiswah 9 horizontal well,
          §      resulting in significant increases in production rates and productivity
          §      index
          §    - Calvalley started a comprehensive well testing program on the existing
          §      Hiswah wells to determine the best completion and stimulation
          §      techniques for each well
          §    - Calvalley made significant progress on processing and interpreting
          §      812 km of 2D seismic data acquired during 2006
          §    - Calvalley actively continued with construction of the central
          §      processing facility and plans to commission the first 30,000 bopd of
          §      capacity during the second quarter
          §    - Calvalley worked closely with Yemeni authorities on tendering of the
          §      major contracts for construction of the 245 km sales pipeline, which is
          §      expected to be completed in late 2007

          §    Quarterly Report

          §    The first three months of 2007 proved to be another successful quarter for
Calvalley's operations in Yemen. With sales of 180,000 barrels of crude oil,
net income for the quarter totalled $6.2 million or $0.06 per share. Cash from
operations totalled $8.4 million, more than sufficient to fund capital
expenditures of $7.1 million, primarily for drilling and facility construction
projects. With continued cash flow from operations, cash on hand of
$53.7 million and working capital of $74.3 million, Calvalley remains
debt-free and well-positioned to fund its capital program without further
dilution to its shareholders.
          §    After focusing on short-term cash flow generation during 2006, our focus
has now shifted toward long-term production optimization. As part of a
comprehensive completion and well testing program, Calvalley temporarily shut
in several wells for pressure build up and completion. Consequently,
production rates for the first quarter were slightly lower than for the
preceding quarter. The results of the testing program will enable Calvalley to
optimize production rates and to implement best practices for completion,
remedial workovers and stimulation programs. To date, none of the wells have
been stimulated and some wells have not yet recovered all of the lost drilling
fluids. The Company believes that results of the testing program, together
with longer production history, will give Calvalley's reserve evaluators
greater confidence in the ultimate recovery factors from the Hiswah wells.
          §    After drilling the Hiswah 21 horizontal well, Rig (number sign)1 moved to the Al
Roidhat field, where four more vertical development wells have been drilled as
of May 15, 2007. In March, Calvalley activated a second drilling rig, which
will continue drilling multilateral legs on several Hiswah wells during its
break-in period, following which this larger rig is scheduled to drill deeper
wells, including Qarn Qaymah and several exploration targets. Calvalley is
very pleased with the results of the multilateral legs drilled at Hiswah 9,
which significantly increased daily production rates and almost tripled the
productivity index of the well.
          §    Once processing and interpretation of the 2006 seismic program is
completed, Calvalley plans to place greater emphasis on exploration drilling,
for which additional drilling rigs may be contracted later this year. To date,
Calvalley has only explored a small percentage of the 2,234 km2 of lands
within Block 9 and a significant number of leads and prospects have already
been identified. Having already found oil in five reservoir formations within
Block 9, the Company believes that some of these exploration targets have
potential to produce from multiple zones. Calvalley is currently planning a
further seismic acquisition program over the northern plateau region of the
block, for which limited seismic data is currently available.
          §    Construction work is actively continuing on the central processing
facility, with the first 30,000 bopd train expected to commission during the
second quarter. With most of the major components in place by the end of 2006,
construction activity is focused on connections (pipe, valves and fittings)
and instrumentation. Other than minor delays due to labour and material
shortages, work is continuing as expected and Calvalley hopes to commission
the second 30,000 bopd train by the end of this year.
          §    A significant amount of time and effort has gone into the sales pipeline
project. This pipeline is a strategic part of Yemen's oil and gas production
infrastructure, passing through two major oil producing basins and in
proximity to other producing blocks. Even though the routing and capacity of
the pipeline are now formally approved, the project continues to be subject to
extensive government review and approval requirements relating to the
tendering of major contracts. Calvalley hopes to finalize and award contracts
in the very near future, allowing sufficient time for contractors to
substantially complete construction by the end of 2007. Calvalley expects that
timelines relating to pipeline construction will be more controllable once
contracts have been awarded. Calvalley is working with potential contractors
and suppliers to identify opportunities to fast track certain elements of the
pipeline project to provide more flexibility in the event of unforeseen
delays.
          §    In addition to providing additional production capacity, the central
processing facility and sales pipeline projects are expected to significantly
reduce operating costs in the future. Currently, Calvalley pays approximately
US$3.00 per barrel for trucking oil to the receiving facility at Safer, as
well as a tariff for crude oil processing at Safer. Calvalley is committed to
operating the Block 9 efficiently at operating costs comparable with those of
other major oil producers in the region.

          §                           (xxxxxxxxxxxxxxxxxxxxx)

          §    Calvalley is listed on the Toronto Stock Exchange, trading under the
symbol "CVI.A".

          §    THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
          §    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

          §    This press release may contain forward-looking statements including,
without limitation, financial and business prospects and financial outlooks,
and such statements may be forward-looking statements which reflect
management's expectations regarding future plans and intentions, growth,
results of operations, performance and business prospects and opportunities.
Words such as "may", "will", "should", "could", "anticipate", "believe",
"expect", "intend", "plan", "potential", "continue", and similar expressions
have been used to identify these forward-looking statements. These statements
reflect management's current beliefs and are based on information currently
available to management. Forward-looking statements involve significant risk
and uncertainties. A number of factors could cause actual results to differ
materially from the results discussed in the forward-looking statements
including, but not limited to, changes in general economic and market
conditions and other risk factors. Although the forward-looking statements
contained herein are based upon what management believes to be reasonable
assumptions, management cannot assure that actual results will be consistent
with these forward-looking statements. Investors should not place undue
reliance on forward-looking statements. These forward-looking statements are
made as of the date hereof.
          §    Forward-looking statements and other information contained herein
concerning the oil and gas industry and Calvalley's general expectations
concerning this industry are based on estimates prepared by management using
data from publicly available industry sources as well as from reserve reports,
market research and industry analysis and on assumptions based on data and
knowledge of this industry which Calvalley believes to be reasonable. However,
this data is inherently imprecise, although generally indicative of relative
market positions, market shares and performance characteristics. While
Calvalley is not aware of any misstatements regarding any industry data
presented herein, the industry involves risks and uncertainties and is subject
to change based on various factors.  

hat keiner eine meinung zu diesem wert?  

in den letzten tagen hoch wie davor runter. naja und das noch ohne news bin mal gespannt was die zahlen bringen... sonst noch wer dabei?  

CALVALLEY PETROLEUM - OPERATIONAL UPDATE
2/12/2010 8:45 AM - Canada NewsWire

CALGARY, Feb. 12, 2010 (Canada NewsWire via COMTEX News Network) --
Calvalley Petroleum Inc. (TSX: CVI.A)

Calvalley Petroleum Inc. (the "Company" or "Calvalley"), an international oil and gas exploration and production company based in Calgary, Alberta, is pleased to provide this operational update on recent exploration activities and developments in its continued efforts to finalize agreements for the transportation of blended crude oil from Block 9.

Crude Oil Transportation Agreements

Calvalley has agreed on all key terms and conditions with the Ministry of Oil and Minerals ("MOM") and the Third Party Operator ("Third Party") to transport blended crude from Block 9 through Block 51 to the Masila System (Block 14) for export. MOM, Calvalley and Third Party are expected to sign all agreements at a signing ceremony in February, 2010. The agreements will enable Calvalley to sell blended crude of 26 API or higher from Block 9 through the Masila System. In the near-term, Calvalley will truck the blended crude to Block 51, from which the oil will be transferred into the Masila System at Block 14 via an existing pipeline. The Company expects to commence trucking crude oil in the third quarter of 2010 to a Truck Offloading Facility at Block 51. The engineering work for the offloading facility has commenced. Calvalley will immediately commence the engineering for the pipeline construction upon final execution of the agreements. Once the pipeline is commissioned, the trucking of oil will cease.

Exploration Activities

Qarn Qaymah-2 ("QQ-2"): Calvalley has completed the initial testing of QQ-2 which included separate testing of the Fractured Granitic Basement ("FGB") and the Kohlan sands. QQ-2 is currently shut-in for pressure build up to further assess the extension of the Kohlan sands and potential areas of improved recovery.

The initial test of the FGB confirmed that the Qarn Qaymah structure lies within a high quality oil system. The seismically defined structure covers an area exceeding 37 square kilometres. The estimated hydrocarbon column at QQ-2 exceeds 380 meters. Smaller diameter tubing (2 7/8 inch) utilized during the testing enabled the well to flow naturally. Production tests produced 43+ API sweet crude, 55+ API condensate and associated solution gas continuously over an extended period of time at fluctuating rates reaching a maximum of 2,350 bbls/d of liquids (oil and condensate) with no formation water. However, a sustainable production rate could not be achieved due to excessive hydrostatic overhead (greater than 3,500 meters). Management believes a sustainable production rate can be accomplished by installing an Electric Submersible Pump ("ESP"). ESP's are currently used by most of the FGB producers in Yemen. We are currently in the process of designing a complete downhole assembly and artificial lift system including a slim hole ESP to run into the well bore to conduct an additional flow test.

The second stage of QQ-2 completion and testing involved the isolation of the FGB and testing the Kohlan Sands. The Kohlan sands were perforated twice over an interval of 13 meters. After the first set of perforations were shot the well flowed condensate-rich natural gas at an initial rate of up to 3.8 million cubic feet per day ("mmcf/d"). After several days, the rate dropped and stabilized at approximately 350 mcf/d as the well bore started loading up with condensate. The result of the first flow test indicated ineffective initial perforations and potential formation damage. As a result, Calvalley re-perforated the Kohlan with mild acidization. This additional work improved the well productivity significantly. The well continued to flow liquid-rich gas over an extended period with rates ranging from 2.0 to 3.5 mmcf/d with a condensate yield of approximately 70 bbl per mmcf of gas. Management believes further acidization is warranted to further improve Kohlan productivity.

Kohlan sands in the Qarn Qaymah fairway display regional blanket sand characteristics with the fairway extending over 34 square km of Block 9. In addition, recent drilling success by other operators in the area has a positive implication for both Kohlan and FGB potentiality.

Based on the encouraging results of QQ-2 and despite the technical challenges of this initial well in the FGB of the Qarn Qaymah Area, Calvalley plans to drill four (4) additional deep wells on the same fairway during 2010. Our negotiations for a deep rig continue and we expect to finalize the contract in the first quarter. The deep drilling program will commence once the contract is finalized and the equipment can be mobilized.

Ras Nowmah-1: Calvalley completed the drilling of the Ras Nowmah-1 exploration well on November 3, 2009. The well encountered a total of 45 meters of gross oil pay in high quality reservoir rock including 35 meters in the Qishn and 10 meters in the Saar formation. As outlined in Calvalley's third quarter report, the wellbore was side-tracked with a 30 degree deviation due to technical difficulties encountered while drilling.

On January 2, 2010, a service rig was mobilized to Ras Nowmah-1 to set 4.5 inch production casing to test the pay zones. The production casing was successfully set but despite several attempts, the downhole completion assembly could not be released from the wellbore. As a result, the completion and testing was suspended until specialized fishing tools could be mobilized to recover the stuck downhole equipment. An international service company has been contracted to attempt the recovery of the downhole equipment. Upon successful completion of the fishing job, Calvalley will continue the completion program to perforate and test both the Qishn and Saar reservoirs. We expect the service rig to be back on location for the completion and testing in March, 2010. In addition, Calvalley has proposed two additional locations on the same structure to its partners. Drilling of the first well is planned to commence during the first quarter of 2010.

Salmin-1: On December 25, 2009, Calvalley commenced drilling of the Salmin-1 exploration well with a primary target of a seismically identified carbonate build up prospect in the Madbi Formation and secondary targets of Kohlan sand and Fractured Basement. The well encountered moderate hydrocarbon shows in a thin (10 feet) Kohlan sand. However, the Madbi Formation contained non-reservoir quality rock. Accordingly, Calvalley will abandon the wellbore.

Calvalley Petroleum Inc.

Calvalley Petroleum is an international oil and gas company based in Calgary, Alberta. The Company operates its 50% working interest in Block 9 in the Masila Basin of the Republic of Yemen and 100% working interest in the Gimbi and Metema Blocks in Ethiopia.

Forward-Looking Statements

This press release may contain forward-looking statements including, without limitation, financial and business prospects and financial outlooks, and such statements may be forward-looking statements which reflect management's expectations regarding future plans and intentions, growth, results of operations, performance and business prospects and opportunities. Words such as "may", "will", "should", "could", "anticipate", "believe", "expect", "intend", "plan", "potential", "continue", and similar expressions have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management. Forward-looking statements involve significant risk and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, management cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof.

Forward-looking statements and other information contained herein concerning the oil and gas industry and Calvalley's general expectations concerning this industry are based on estimates prepared by management using data from publicly available industry sources as well as from reserve reports, market research and industry analysis and on assumptions based on data and knowledge of this industry which Calvalley believes to be reasonable. However, this data is inherently imprecise, although generally indicative of relative market positions, market shares and performance characteristics. While Calvalley is not aware of any misstatements regarding any industry data presented herein, the industry involves risks and uncertainties and is subject to change based on various factors.

SOURCE: Calvalley Petroleum Inc.

investorrelations@calvalleypetroleum.com; Edmund Shimoon, Chairman and CEO, Memet Kont, President and COO, Bill Cummins, CFO, (403) 297-0490

Copyright (C) 2010 CNW Group. All rights reserved.  

 

Ich halte von der Aktie sehr viel.Einer meiner Lieblinge im Ölbereich-
wenn das Länderrisiko nur etwas kleiner wäre.
Die brauchen schon noch ein zusätzliches Asset!  

 

schrieb ich vor vielen Monden- jetzt ist die Pipeline zweimal hochgegangen.
Trotzdem eine Gelddruckmaschine!
Wenn der Sektor steigt sollte man reingehen.Aber das kann dauern.