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Member
Yogi, you dont need to look up the stars or the international space station using a telescope to work out AMU is a good buy. I hold AMU.
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Member
Title: Open Briefing®. Amadeus. Appointment of RBC to Unlock Value
Record of interview:
corporatefile.com.au
Amadeus Energy Ltd (ASX code - AMU) recently engaged RBC Capital Markets
Corporation to investigate opportunities to assist the Company in unlocking the
upside potential of its US assets. Why do you believe the assets are undervalued?
MD Geoffrey Towner
I believe that the share market valuation of our Company takes full account of only
our 1P (proven producing) oil and gas reserves, but does not allocate any value for
our 2P (proven developed non-producing) oil and gas reserves. In addition, the
market does not appear to be allocating any value to our exploration drilling and
well enhancement program. Over 12 months we are drilling 14 to 15 wells, of
which any one could add significantly to shareholder value. With the Royal Bank
of Canada we will be evaluating our 2P reserves in great detail and we expect that
they will be considerably higher than last year’s reserve estimates.
corporatefile.com.au
What are the objectives and scope of the RBC mandate?
MD Geoffrey Towner
Royal Bank of Canada has been appointed to investigate opportunities to assist the
Board in unlocking the very considerable upside value of our US assets for the benefit of all shareholders. They will look at a range of options including a US
listing, a possible merger, further asset acquisitions and any other opportunities
which might come forward in this historically strong market for oil. We have
given them a wide mandate.
corporatefile.com.au
Amadeus has also reached an agreement in principal with an internationally
experienced professional to be US Operations Manager located primarily in Texas.
Can you give more detail on his skill set? What responsibilities will he have?
MD Geoffrey Towner
The US operations manager has a strong financial background and has been in
commercial and operational aspects of oil field management in both the US and
Australia. His duties will include overseeing all of our operations in the US,
liaising regularly with our contract operators, negotiating with joint venture
parties, dealing with commercial and investment bankers and discussing with RBC
the options to raise the Company profile in overseas capital markets.
corporatefile.com.au
How do you expect the US Operations Manager to add value to your US assets?
When do you expect to ratify the appointment?
MD Geoffrey Towner
As an Australian-based public company, we have a strong need for an experienced
person on the ground in the US at operational level. Having worked for a large
Australian public company in Australia and in the US the candidate fits our
requirements very well. We are currently framing the terms of employment and
expect a December 1, 2007 starting date.
corporatefile.com.au
Can you recap your recent drilling successes and the highlights? What is the
potential of the larger exploration plays?
MD Geoffrey Towner
Our drilling program over the past 12 months has continued to focus on the
Halletsville project in Lavaca County, which has added significantly to our
monthly gas production. The recent Hoffer well, where we have a working
interest of 37.5%, has maintained a healthy production rate of 5,200 mcf/day and
110 bopd since January 4, 2007. Hoffer is a typical example of the type of well
we are targeting in our expanded drilling program in the Gulf Coast areas of south
Texas and south Louisiana.
Another is the SL 328#9 well, our first well with Kriti Exploration on the Lake
Long project, Lafourche Parish, Louisiana. This has yielded production rates of
2,400 mcf/day and 70 barrels of condensate per day. Amadeus holds a 21.90625%
working interest in SL 328#9.
Our most significant exploration play to date is expected to spud in early
November, known as the Schwing #2 well on the Gross Tete project, Louisiana.
Amadeus has a 52% working interest in this well which has a target depth of some
14,500 feet and potential reserves in the region of 35 billion cubic feet of gas and 5
million barrels of oil (100%).
corporatefile.com.au
In summary, what are the growth opportunities for Amadeus?
MD Geoffrey Towner
Our exploration program moving forward into Louisiana, Texas and Kansas brings
with it the potential for significant increases in reserves and higher production
rates over the next 12 months. Coupled with high oil prices, the strengthening of
our Board and management since July 1 and the engagement of the Royal Bank of
Canada to assist in unlocking shareholder value, we believe the opportunities for
growth are excellent.
corporatefile.com.au
-
 Originally Posted by shane_m
Title: Open Briefing®. Amadeus. Appointment of RBC to Unlock Value
Record of interview:
corporatefile.com.au
Amadeus Energy Ltd (ASX code - AMU) recently engaged RBC Capital Markets
Corporation to investigate opportunities to assist the Company in unlocking the
upside potential of its US assets. Why do you believe the assets are undervalued?
MD Geoffrey Towner
I believe that the share market valuation of our Company takes full account of only
our 1P (proven producing) oil and gas reserves, but does not allocate any value for
our 2P (proven developed non-producing) oil and gas reserves. In addition, the
market does not appear to be allocating any value to our exploration drilling and
well enhancement program. Over 12 months we are drilling 14 to 15 wells, of
which any one could add significantly to shareholder value. With the Royal Bank
of Canada we will be evaluating our 2P reserves in great detail and we expect that
they will be considerably higher than last year’s reserve estimates.
corporatefile.com.au
What are the objectives and scope of the RBC mandate?
MD Geoffrey Towner
Royal Bank of Canada has been appointed to investigate opportunities to assist the
Board in unlocking the very considerable upside value of our US assets for the benefit of all shareholders. They will look at a range of options including a US
listing, a possible merger, further asset acquisitions and any other opportunities
which might come forward in this historically strong market for oil. We have
given them a wide mandate.
corporatefile.com.au
Amadeus has also reached an agreement in principal with an internationally
experienced professional to be US Operations Manager located primarily in Texas.
Can you give more detail on his skill set? What responsibilities will he have?
MD Geoffrey Towner
The US operations manager has a strong financial background and has been in
commercial and operational aspects of oil field management in both the US and
Australia. His duties will include overseeing all of our operations in the US,
liaising regularly with our contract operators, negotiating with joint venture
parties, dealing with commercial and investment bankers and discussing with RBC
the options to raise the Company profile in overseas capital markets.
corporatefile.com.au
How do you expect the US Operations Manager to add value to your US assets?
When do you expect to ratify the appointment?
MD Geoffrey Towner
As an Australian-based public company, we have a strong need for an experienced
person on the ground in the US at operational level. Having worked for a large
Australian public company in Australia and in the US the candidate fits our
requirements very well. We are currently framing the terms of employment and
expect a December 1, 2007 starting date.
corporatefile.com.au
Can you recap your recent drilling successes and the highlights? What is the
potential of the larger exploration plays?
MD Geoffrey Towner
Our drilling program over the past 12 months has continued to focus on the
Halletsville project in Lavaca County, which has added significantly to our
monthly gas production. The recent Hoffer well, where we have a working
interest of 37.5%, has maintained a healthy production rate of 5,200 mcf/day and
110 bopd since January 4, 2007. Hoffer is a typical example of the type of well
we are targeting in our expanded drilling program in the Gulf Coast areas of south
Texas and south Louisiana.
Another is the SL 328#9 well, our first well with Kriti Exploration on the Lake
Long project, Lafourche Parish, Louisiana. This has yielded production rates of
2,400 mcf/day and 70 barrels of condensate per day. Amadeus holds a 21.90625%
working interest in SL 328#9.
Our most significant exploration play to date is expected to spud in early
November, known as the Schwing #2 well on the Gross Tete project, Louisiana.
Amadeus has a 52% working interest in this well which has a target depth of some
14,500 feet and potential reserves in the region of 35 billion cubic feet of gas and 5
million barrels of oil (100%).
corporatefile.com.au
In summary, what are the growth opportunities for Amadeus?
MD Geoffrey Towner
Our exploration program moving forward into Louisiana, Texas and Kansas brings
with it the potential for significant increases in reserves and higher production
rates over the next 12 months. Coupled with high oil prices, the strengthening of
our Board and management since July 1 and the engagement of the Royal Bank of
Canada to assist in unlocking shareholder value, we believe the opportunities for
growth are excellent.
corporatefile.com.au
Im in - 25/31 drills last year had commercial finds, they have good permits in the US, meaningful interests & a fantastic success rate.
Profitable & undervalued means it joins the Shasta stable.
Looking forward to see what RBC can do to extract full value.
Nice buying at sub 80c, & ABN Amro have a conservative $1.26 on them.
Some nice news from the Schwing #2 well in Louisana soon should wake AMU up...
Having missed BOW take off yesterday, i wont miss this one!
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Member
shasta where can I find the ABN Amro valuation? is it a paid subscription?
Since most oil usage is in USA I went through all the oilers that have interest in USA, and ranked them in terms of market cap and revenue for 2008. PSA and AMU were on the top 5.
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Originally Posted by shane_m
shasta where can I find the ABN Amro valuation? is it a paid subscription?
Since most oil usage is in USA I went through all the oilers that have interest in USA, and ranked them in terms of market cap and revenue for 2008. PSA and AMU were on the top 5.
No fluke i hold both either - oh & another 25 drill targets this year!
Its on the AMU site http://www.amadeusenergy.com/files/r..._AMRO71030.pdf
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Im in. managed to get 2/3 of my order filled this arvo at 77c. with a bit of luck I will get the rest at auction
Last edited by STRAT; 13-11-2007 at 06:24 PM.
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