VIL-Verus investments- Oil & Gas micro cap

[JBmurc]

With Oil looking likely to stay over $100 I've been looking round to diverse away from just my SSN shale oil investment VIL is one micro-cap oil & gas investment company I like the look of and imho should re-rate much higher in the short term...

VIL has a 10% interest in the recent Sidi Dhaher discovery( mean oil in place estimate of 51 million barrels of oil ) within the
on-shore Chorbane permit 2,428sqm Tunisia.......testing of flow rates within weeks...

VIL- 9.5mill Mktcap
Ordinary shares on issue:1,885,158,563
shareprice -$0.005
cash-1mill est.
last qtr -production low 700-800bbls

outside the prime Chorbane permit VIL other interest in the-Fausse Point Project-- 72% WI - Louisiana -USA

Verus technical team have completed reprocessing the seismic and completing the final interpretation. Prospect is under final review in preparation to drill. Potential of 21 Billion cubic ft of gas recoverable.
Recent information of a nearby analogue well indicates multiple sands more than 100ft thick and the well flow tested at 158 barrels of oil & 6.4 million cubic feet of gas per day



--brought my first lot today .005 .....will wait till I here more on flow rates till I buy more.....high risk spec play with very good upside

[Crypto Crude]

neat find JBMurc...
But, ADX is by far the preferred investment option...
:cool:
.^sc

[Aotea]

JBM take a look at QPN, high risk with their last hole in Liousiana a duster, but they are only months of the first hole in highly prospective sumatra. d

[JBmurc]

fair enough guys, but quite happy to stay with VIL in the short term has had no SP upwards movement from the Sidi Dhaher discovery like ADX 7c-9c XST up 1c ......VIL down bumping on it's lows only days from flow tests that could re-rate VIL 30-50% easy just for a start then depending on rates the upside for the area for another 4+ wells will really be the kicker for muti-bagger growth(one analyst gave 4.5c upside to VIL if chorbone tenement was a success) ....Fausse Point Project was the major asset of VIL before the discovery and could well still have great value ....I do think VIL has a 1 in 10 of being a 10 bagger mid term 1-2yr

I do like ADX though and may well take a position after flow-rates all depending on AGS movement

[JBmurc]

12 April 2012
ADX: Rig Preparation for Sidi Dhaher Well Test Nearing Completion
ADX Energy Limited (ASX:ADX) is providing the following progress update for the well test of its Sidi Dhaher-1 oil discovery, Chorbane license, onshore Tunisia.
Mobilisation of key personnel has been mostly completed. The rig provider Dietswell is currently undertaking extensive equipment function testing prior to full mobilisation to the Sidi Dhaher site.
Depending on the exact arrival date of some critical equipment it is expected that well test operations will commence in the next two weeks. This small delay relative to the 26 March ASX announcement is mainly due to shipment timing of critical valves for the kill and chokes line which needs to be replaced.
ADX has previously estimated the mean contingent oil in place resource volume for the Sidi Dhaher oil discovery to be 51 mmbbls. The confirmation of recoverable volumes and resulting potential reserves are contingent upon a successful well test with the objective of proving commercial flow rates and likely recovery factors.
The Sidi Dhaher discovery is located in the 2,428km2 large Chorbane Exploration Permit onshore central Tunisia near the port city of Sfax. It is surrounded by several producing oil fields and extensive oil and gas infrastructure.
Participant interests in the Sidi Dhaher-1 well is as follows;
ADX Energy Ltd
Gulfsands Petroleum Plc XState Resources Ltd Verus Investments Limited
For further details please contact:
Wolfgang Zimmer Managing Director +61 (08) 9226 2822 www.adxenergy.com.au
40%
40% 10% 10%
Operator
(ASX code: XST) (ASX code: VIL)

[JBmurc]

Not long to ann on flow-testing

what we know so far

"The Mean estimate is 51 million barrels;
and is derived from the following range of estimates:
-P90 OOIP 13 million barrels
-P50 OOIP 37 million barrels
-P10 OOIP. 110 million barrels"

Current brent oil price $116bbl

VIL @10%------prob 90% = 150mill igv.........prob 10% =1.2bill igv (VIL Mktcap 7.5mill)

will be waiting with baited breath for a flow test ann if good will be fighting with the rest for more VIL or even ADX,XST all should be re-rated much higher

[JBmurc]

23 April 2012
ADX: Sidi Dhaher-1 Well Test Update:
ADX Energy Limited (ASX:ADX) provides the following operational progress update on preparations for the well test of its Sidi Dhaher-1 oil discovery, Chorbane licence, onshore Tunisia.
Further to the announcement of 12 April 2012, we confirm that mobilisation of all key personnel is now complete, rig related equipment testing is still ongoing and good progress has been made on final preparations of all test equipment from other services including test and oil processing equipment and crude trucking.
Consequently, ADX decided to commence mobilisation of the support camp to the Sidi Dhaher-1 well test site. Consistent with the process followed for the drilling of the Sidi Dhaher well, camp mobilisation is being undertaken cautiously to seek early indications of any issues with any members of the local community.
Unfortunately, access to the well site has been temporarily disrupted by the blocking of local roads by a number of local people who are demanding employment during the testing operations.
Consistent with normal operations in the oil industry, ADX has signed agreements with members of the local community who are affected directly by the operations and has consulted with the local community leading up to the mobilisation of testing equipment.
ADX continues to receive the support of the local community and the local authorities are fully supporting ADX’s efforts to find a satisfactory solution so that mobilisation of the camp and other equipment may be completed.
Further advice will be provided as material changes occur. Participant interests in the Sidi Dhaher-1 well tests will be as follows;
ADX Energy Ltd 40% Operator
Gulfsands Petroleum Plc 40% XState Resources Ltd 10% (ASX code: XST) Verus Investments Limited 10% (ASX code: VIL)

[JBmurc]

From the GGP qtr report---imho VIL should work on getting a free carry as cash balance is getting low i.e increase GGP share if drill well

The original TGR#1 Well at Fausse Point had been extremely encouraging in that it discovered hydrocarbons over
multiple levels, However, patience and some very time consuming detailed technical work was required to fully
understand each of the zones so as to optimise any appraisal drilling operation.
Based on the significance of the test results of the TGR #1 discovery well, the commitment was made by the partners
to acquire more 3-D seismic, reprocess the data and complete the interpretational work.
This has been an expensive and time consuming process and is now 100% complete, however from the reinterpretation
and information developed it appears the time and effort has paid off with new significant targets which
can be drilled at low cost.
Verus Investments Limited (ASX:VIL) 72% WI are yet to finally commit to the project although they have announced
that they expect the drilling of the Sidetrack Well to commence in the second quarter of 2012.
Fausse Point – New Shallow oil Target, Iberia Parish, Louisiana, Operator, 18% WI
By utilising the reprocessed 3D seismic covering 50 square miles of the Fausse Point Salt Dome, the Company has
been able to identify a separate shallow oil target within the Area of Mutual Interest (AMI) shared by the working
interest partners at Fausse Point.
This new objective is an oil sand approximately 3,000 feet measured depth and covers approximately 200 acres. The
potential recoverable resources estimated at this early stage is approximately 2.4 million barrels of oil in a 100 acre
trap assuming 30% recovery factors. The sands are estimated to be 70 feet thick with good porosity. There are
analogue wells which have produced from these sands which are located around the Fausse Point Salt Dome.
The Company is continuing to complete the leasing of the targeted are and is examining potential drill sites within the
wetland area. Given it is a valued oil prospect and the ease of drilling the shallow depth, the Company is moving
ahead with the development of this prospect. Permitting will take time to complete.
Partners in the Fausse Point Projects are:
Company WI
Golden Gate Petroleum Ltd 18%
Verus Investments Ltd (ASX: VIL) 72%
Other Partners 10%

[JBmurc]

Gulfsands is pleased to report that ADX Energy Limited ("ADX"), operator of the Chorbane Licence onshore Tunisia, has completed the final safety and operational audits of the drilling rig and related equipment that will be used during the upcoming production testing programme on the Sidi Dhaher No. 1 well ("SDHR-1").

Operations are now scheduled to commence on Thursday, 31st May with the drilling out of the first of the safety plugs that had been installed to secure the well.

As the testing programme is taking place in a well that has previously been cased and suspended in anticipation of a subsequent production test, this will be a multi-stage operation with expected time duration of approximately three weeks."

If they expect 3 weeks to get results

[JBmurc]

ASX Release
7th June 2012
ADX: Sidi Dhaher-1 Well Test Update:
ADX Energy Limited (ASX:ADX) provides the following update on the testing of the Sidi Dhaher-1 oil discovery, in the Chorbane licence, onshore Tunisia.
The down hole test string assembly has been successfully run in to the hole to a total depth of approximately 1180 meters and pressure tested. To ensure the perforating guns are positioned correctly over the oil bearing intervals to be tested an electric wireline gamma ray log is being run.
Once the drill pipe conveyed perforating guns are correctly positioned over the reservoir intervals to be tested the perforating guns will be fired and the well will be in direct communication with the oil bearing reservoir.
The well test will then commence and the operator will attempt to flow the well without acid stimulation or artificial lift.
ADX will continue to provide updates on operational milestones as they occur.
Participant interests in the Sidi Dhaher -1 well tests will be as follows:
ADX Energy Ltd
Gulfsands Petroleum Plc XState Resources Ltd Verus Investments Limited
For further details please contact:
Wolfgang Zimmer Managing Director +61 (08) 9226 2822
www.adxenergy.com.au
40%
40% 10% 10%
Operator
(ASX code: XST) (ASX code: VIL)
Ian Tchacos Chairman +61 (08) 9226 2822

[gazprom1]

ASX Release
7th June 2012
ADX: Sidi Dhaher-1 Well Test Update:
ADX Energy Limited (ASX:ADX) provides the following update on the testing of the Sidi Dhaher-1 oil discovery, in the Chorbane licence, onshore Tunisia.
The down hole test string assembly has been successfully run in to the hole to a total depth of approximately 1180 meters and pressure tested. To ensure the perforating guns are positioned correctly over the oil bearing intervals to be tested an electric wireline gamma ray log is being run.
Once the drill pipe conveyed perforating guns are correctly positioned over the reservoir intervals to be tested the perforating guns will be fired and the well will be in direct communication with the oil bearing reservoir.
The well test will then commence and the operator will attempt to flow the well without acid stimulation or artificial lift.
ADX will continue to provide updates on operational milestones as they occur.
Participant interests in the Sidi Dhaher -1 well tests will be as follows:
ADX Energy Ltd
Gulfsands Petroleum Plc XState Resources Ltd Verus Investments Limited
For further details please contact:
Wolfgang Zimmer Managing Director +61 (08) 9226 2822
www.adxenergy.com.au
40%
40% 10% 10%
Operator
(ASX code: XST) (ASX code: VIL)
Ian Tchacos Chairman +61 (08) 9226 2822

JBM,

I have been watching your posts on VIL - thanks for the updates. I bought a couple of weeks ago as a pure punt. Happy to be in for the testing of the potential field. Fingers crossed and I hope you are right about a trading halt on monday.

Gaz

[JBmurc]

JBM,

I have been watching your posts on VIL - thanks for the updates. I bought a couple of weeks ago as a pure punt. Happy to be in for the testing of the potential field. Fingers crossed and I hope you are right about a trading halt on monday.

Gaz

Well looks like I'm wrong as looks like the ASX markets will be closed monday so make that tuesday
but I think ADX trades in euro exchange so could well here news monday that I'm sure we will here about it...yes overall could be huge as it looks like there could will be another deeper area of oil&gas play under the 30m interval i.e big discovery and a massive re-rate for the permit VIL holds 10% of maybe muti billion dollar play..
certainly has 10 bagger potential .....

[J_Gold]

Another listener/watcher here aswell plus I'm sure there are many more like me interested in seeing what happens. Everyone loves a 10 bagger don't they??? Keep it up mate.

[percy]

Well just goes to show how little I understand the markets.I have watched VIL and ADX today expecting their share prices to move upwards.All that happens is ADX drops.!!!!!!

[JBmurc]

Well just goes to show how little I understand the markets.I have watched VIL and ADX today expecting their share prices to move upwards.All that happens is ADX drops.!!!!!!

yes hard to understand we should have are answer if the seller was smart or very stupid to sell next week

[upside_umop]

What's happened to this one?

[gazprom1]

What's happened to this one?

All bad UU. Sidi Dhaher was plugged and abandoned....no hydrocarbons present. Disasater for VIL. Will be a while before this one rises from the ashes...if ever!!!!

[Crypto Crude]

All bad UU. Sidi Dhaher was plugged and abandoned....no hydrocarbons present. Disasater for VIL. Will be a while before this one rises from the ashes...if ever!!!!

ouch... and and appraisal on a previous discovery... I have been watching...
:cool:
.^sc

[JBmurc]

ouch... and and appraisal on a previous discovery... I have been watching...
:cool:
.^sc

yes another kick to the guts for me after SSN big fall going need some good return from the others to make it back this year
30m oil interval to have nothing what a joke VIL still have one project in the US which was meant to be drill long ago hoping to get out at .002 close to the front of the cue ....paid .005 good bye 18k