donnie
20-06-2007, 06:31 PM
Adelaide Energy had a bad start after listing this week keep an eye on it, it could be a special little investment in the future.
Adelaide Energy (ADE) is focussed on oil and gas exploration in the Cooper and Otway Basins of South Australia and the West Florence Basin of Colorado, USA.
PEL105 (earning 16.7%):
The permit is located in the Cooper Basin of SA and extends eastwards from the central portion of the Patchawarra Trough, one of the prime hydrocarbon kitchens of the Cooper Basin. ADE can earn its interest by paying 33.33% of the cost of drilling one well. Eleven exploration wells have been drilled in the licence area and five gas & oilfields have been discovered within or on the boundaries of the block.
PEL 255:
The permit is located on the north flank of the Penola Trough within the onshore Otway Basin of SA. Several significant oil shows/flows have been encountered on the north flank of the Penola Trough. The drilling of Jacaranda Ridge-1 well in 1999 identified two potential zones of hydrocarbon entrapment. There has been no drilling in the Jacaranda Ridge Area since, and through its exploration and drilling program, Adelaide Energy intends to develop the potential pay in two reservoir packages.
PELA 218:
The permit is located 20km east of the Moomba processing plant in SA. The small township of Innamincka, some 65 kms northeast of Moomba, is located centrally in the block. Seven wells have been drilled on the block to date. The prospects targeted were in tight reservoirs which traditionally have been difficult to exploit. The company intends to employ advanced techniques which have proved successful in similar reservoirs elsewhere. The Company has committed to three exploration wells and 280 km of seismic within the first two licence years.
West Florence Prospect (earning 15%):
The prospect is located in the Florence-Canon Basin is Colorado, USA. Adelaide Energy is entitled to earn a 15.0% interest by reimbursing the lease acquisition costs and paying 15.0% of the costs of one well. The Company intends to participate in a well to test the sands of the Dakota group and in particular, the Muddy J Sand.
Adelaide Energy (ADE) is focussed on oil and gas exploration in the Cooper and Otway Basins of South Australia and the West Florence Basin of Colorado, USA.
PEL105 (earning 16.7%):
The permit is located in the Cooper Basin of SA and extends eastwards from the central portion of the Patchawarra Trough, one of the prime hydrocarbon kitchens of the Cooper Basin. ADE can earn its interest by paying 33.33% of the cost of drilling one well. Eleven exploration wells have been drilled in the licence area and five gas & oilfields have been discovered within or on the boundaries of the block.
PEL 255:
The permit is located on the north flank of the Penola Trough within the onshore Otway Basin of SA. Several significant oil shows/flows have been encountered on the north flank of the Penola Trough. The drilling of Jacaranda Ridge-1 well in 1999 identified two potential zones of hydrocarbon entrapment. There has been no drilling in the Jacaranda Ridge Area since, and through its exploration and drilling program, Adelaide Energy intends to develop the potential pay in two reservoir packages.
PELA 218:
The permit is located 20km east of the Moomba processing plant in SA. The small township of Innamincka, some 65 kms northeast of Moomba, is located centrally in the block. Seven wells have been drilled on the block to date. The prospects targeted were in tight reservoirs which traditionally have been difficult to exploit. The company intends to employ advanced techniques which have proved successful in similar reservoirs elsewhere. The Company has committed to three exploration wells and 280 km of seismic within the first two licence years.
West Florence Prospect (earning 15%):
The prospect is located in the Florence-Canon Basin is Colorado, USA. Adelaide Energy is entitled to earn a 15.0% interest by reimbursing the lease acquisition costs and paying 15.0% of the costs of one well. The Company intends to participate in a well to test the sands of the Dakota group and in particular, the Muddy J Sand.