CONDOR Petroleum
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was nicht da ist kann man sich bei den Banken holen!
Was man aus den besten kazakhischen Assets (nicht) rausholen kann ist schon wundersam!
Warten auf nächste Woche-obwohl Condor selbst sagt, daß Marsel nicht vorrangig ist.
Man will zunächst Zharkamys entwickeln um Cash Flow zu generieren.
Wie gesagt: ABM für die Crew und das Management.
Condor Petroleum Inc.: Operations Update
CALGARY, ALBERTA--(Marketwire - April 9, 2012) - Condor Petroleum Inc. ("Condor" or the "Company") (TSX:CPI) is pleased to provide an update on its operations at the Zharkamys West 1 Contract Territory (the "Zharkamys Territory") and the Marsel Contract Territory (the "Marsel Territory") in Kazakhstan.
Zharkamys Territory
Shoba Appraisal Program: Drilling is about to commence on the first of four appraisal wells at the Shoba field. The initial two wells target oil in the untested northern fault block. The other two appraisal wells will offset the three existing Shoba wells. Approvals are being sought to transition Shoba into the Trial Production Period by the third quarter 2012, allowing Shoba to be produced continuously.
Testing Activities: A service rig is currently moving onto Taskuduk W-4 (TasW-4) for the initial well completion and the ninety day production test is expected to begin this month. TasW-4 was drilled in the fourth quarter of 2011 and penetrated 19 meters of net oil pay within two Triassic intervals.
3D Seismic Processing: Pre-Stack Time Migration (PSTM) of the 1,280 km2 3D seismic acquired in the fourth quarter of 2011 was completed in late March 2012. Condor received the final Pre-Stack Depth Migration (PSDM) of the 1,252 km2 3D seismic acquired in the fourth quarter of 2010. Both datasets image multiple play types, ranging from salt-flank and sub-canopy plays to deeper structures that are fully encapsulated in salt or are pre-salt structures. This has expanded the number of play types and will result in a more diversified prospect inventory.
Marsel Territory
Asa-1 Gas Discovery: The Asa-1 well was drilled to 2,580 meters. The primary Devonian target zone was encountered at 2,408 meters, consisting of fractured conglomerates. Wireline logs and drill stem test ("DST") data indicate a continuous 172 meter gas column (estimated 76 meters of net pay) has been penetrated. Two DSTs were performed at the top and base of the zone resulting in flow rates ranging between 2.1 and 11.1 MMscf/day. The gas was dry with no water indicated during the flow periods. Based on these positive results, an additional 100 meters of drilling is planned to confirm a projected gas-water contact, after which the well will be cased. Asa-1 drilling costs are within budgeted amounts.
2D Seismic Processing: The processed data from the recently acquired 900 km 2D program was received in the first quarter of 2012. Preliminary interpretation and mapping has identified several prospects in the southern region of the territory, focusing around the Bugudzilskaya structure. The region is interpreted as being highly prospective with multiple targets within the Lower Carboniferous and Devonian clastics. Based on the mapping of this structure, two locations have been identified for exploration drilling in 2012.
(da werden jetzt einige wach):
Condor Petroleum Inc.
April 09, 2012 16:10 ET
Condor Petroleum Inc.: Operations Update
CALGARY, ALBERTA--(Marketwire - April 9, 2012) - Condor Petroleum Inc. ("Condor" or the "Company") (TSX:CPI) is pleased to provide an update on its operations at the Zharkamys West 1 Contract Territory (the "Zharkamys Territory") and the Marsel Contract Territory (the "Marsel Territory") in Kazakhstan.
Zharkamys Territory
Shoba Appraisal Program: Drilling is about to commence on the first of four appraisal wells at the Shoba field. The initial two wells target oil in the untested northern fault block. The other two appraisal wells will offset the three existing Shoba wells. Approvals are being sought to transition Shoba into the Trial Production Period by the third quarter 2012, allowing Shoba to be produced continuously.
Testing Activities: A service rig is currently moving onto Taskuduk W-4 (TasW-4) for the initial well completion and the ninety day production test is expected to begin this month. TasW-4 was drilled in the fourth quarter of 2011 and penetrated 19 meters of net oil pay within two Triassic intervals.
3D Seismic Processing: Pre-Stack Time Migration (PSTM) of the 1,280 km2 3D seismic acquired in the fourth quarter of 2011 was completed in late March 2012. Condor received the final Pre-Stack Depth Migration (PSDM) of the 1,252 km2 3D seismic acquired in the fourth quarter of 2010. Both datasets image multiple play types, ranging from salt-flank and sub-canopy plays to deeper structures that are fully encapsulated in salt or are pre-salt structures. This has expanded the number of play types and will result in a more diversified prospect inventory.
Marsel Territory
Asa-1 Gas Discovery: The Asa-1 well was drilled to 2,580 meters. The primary Devonian target zone was encountered at 2,408 meters, consisting of fractured conglomerates. Wireline logs and drill stem test ("DST") data indicate a continuous 172 meter gas column (estimated 76 meters of net pay) has been penetrated. Two DSTs were performed at the top and base of the zone resulting in flow rates ranging between 2.1 and 11.1 MMscf/day. The gas was dry with no water indicated during the flow periods. Based on these positive results, an additional 100 meters of drilling is planned to confirm a projected gas-water contact, after which the well will be cased. Asa-1 drilling costs are within budgeted amounts.
2D Seismic Processing: The processed data from the recently acquired 900 km 2D program was received in the first quarter of 2012. Preliminary interpretation and mapping has identified several prospects in the southern region of the territory, focusing around the Bugudzilskaya structure. The region is interpreted as being highly prospective with multiple targets within the Lower Carboniferous and Devonian clastics. Based on the mapping of this structure, two locations have been identified for exploration drilling in 2012.
About Condor Petroleum Inc.
Condor is a Canadian oil and gas company with assets in Kazakhstan and Canada. Condor holds a 100% interest in the exploration rights to the 2,610 square km Zharkamys Territory, located in Kazakhstan's Pre-Caspian basin. Condor also holds a 66% interest in Marsel Petroleum LLP which has the exploration rights to the 18,500 square km Marsel Territory, located in Kazakhstan's Chu- Sarysu basin. The Company operates certain oil and natural gas properties in Alberta and Saskatchewan and holds non- operated working interests in a number of other properties in Alberta. The Company is listed on the TSX under the symbol "CPI". ...
Quelle: http://www.marketwire.com/press-release/...update-tsx-cpi-1641566.htm
Salve,
Tasche 
First Energy hebt das Kursziel für Condor Petroleum Inc. nach der wunderbaren Marsel-Bohrung von 1,10 CAD auf 1,20 CAD an:
First Energy
CAPITAL
1100, 311 - 6 Avenue SW Calgary, Alberta, T2P 3H2 • 403-262-0600
85 London Wall, London, EC2M 7AD • +44-207-448-0200 WWW.FIRSTENERGY.COM
Condor Petroleum Inc. - CPI C$0.52
April 11, 2012
Page 1 of 4
Gas Discovery at Marsel
Highlight
Condor Petroleum announced a discovery at the Asa-1 well with 76 m of net pay and flow rates of 2.1 to 11.1 mmcf/d. The well was targeting about 100 bcf gross recoverable resources, which is now being deepened by 100 m. The next prospect will target 600 bcf gross prospective resources following the latest seismic interpretation. We have revised our target price from C$1.10 to C$1.20 in line with our new risked NAV to reflect the discovery and updated drilling programme. Condor will now drill four appraisal oil wells at Shoba to target 3.6 mmbbl possible reserves and targeted production growth to over 2,000 bbl/d production by the end of 2012. Our Outperform recommendation is re-iterated.
Discovery at Marsel
Condor announced that the Asa-1 well on the Marsel block, Kazakhstan, encountered 76 m of net gas pay. DST performed at the top and base of the zone re¬sulted in dry gas flow rates ranging between 2.1 and 11.1 mmcf/day. The higher gas rate corresponded to the lower zone (50 m interval). The flow rate at the up¬per zone appears to have been hampered by mudcake given that the Company had to control the well with heavy mud following a kick while drilling the upper interval. The upper zone was only cleaned-up and flow tested for 40 minutes. Based on the DST results, the Company will deepen the well by 100 m to confirm a projected gas-water contact, after which the well will be cased. Condor targeted about 100 bcf gross recover¬able resources with the Asa-1 well. The well cost US$5 mm. The DST test was only a preliminary well test and the well will be fully tested in Q3 2012.
Marsel: 600 bcf Prospect Next
The Marsel preliminary interpretation and mapping of the recently acquired 900 km 2D seismic has identified several prospects in the southern region of the terri¬tory, focusing around the Bugudzilskaya structure. Based on the mapping of this structure, two locations have been identified for exploration drilling in 2012. The Bugudzilskaya structure is estimated to hold 600 bcf gross recoverable resources (Condor WI: 66%). The Bugudzilskaya well is due to be drilled in Q3 2012.
First of Four Appraisal Wells at Shoba Imminent
At Shoba, drilling is about to commence on the first of four appraisal wells. The initial two wells will target oil in the untested northern fault block and the con¬version of 3.6 mmbbl from the possible to the proven and probable reserves category. Additionally, these wells represent the main component of the Company’s targeted production growth to over 2,000 bbl/d by the end of 2012.
Resources Report
At Zharkamys the processing of 1,280 km2 3D seismic acquired in Q4 2011, combined with 1,252 km2 3D seismic acquired in Q4 2012, highlight multiple play types, ranging from salt-flank and sub-canopy plays to deeper structures that are fully encapsulated in salt or are pre-salt structures. This has expanded the num¬ber of play types and will result in a more diversified prospect inventory. Condor plans to issue an indepen¬dent resources estimate at Zharkamys in Q3 2012 and at Marsel in Q2 2012.
Upcoming Exploration Drilling Newsflow at Zharkamys
At Zharkamys, five exploration deep wells and five exploration shallow wells are expected to be drilled by the end of 2012.
Valuation and Recommendation
We have revised our target price from C$1.10 to C$1.20 in line with our new risked NAV to reflect the discovery and updated drilling programme. We have assigned 100 bcf gross recoverable resources to the contingent category with a 75% risk factor.
2012 remains a very busy year for Condor. The Company is target¬ing 100-125 mmbbl oil prospective resources over the balance of 2012 with five high impact sub-canopy wells. Each of these wells could potentially re-rate the story. The share price now trades at less than 50% of our new risked NAV. Our Outperform recommendation is re-iterated.
Salve,
Tasche
Asset Growth Exploration Phase.
Dabei wird schon an der Infrastruktur gebastelt und erst danach
wird die Produktion sprunghaft ansteigen!
Marsel sollte dabei sehr hilfreich sein, da man dort bei einem Well genausoviel erreichen kann wie mit 3-4 Zharkamys Wells.
Kosten sind natürlich auch 4-5 mal so hoch.
Ich kenne diese beiden Assets seit 2005 und ich weiß wie groß die sind.
Und ich kenne die damaligen Reservenzahlen.
Das Marsell Loch mit den "additional 100m" ist jetzt bestimmt auch ausgewertet.
Das "logging program" sollte jetzt schon in der Mache sein.
NEWS RELEASE May 3, 2012 Condor Petroleum Inc Provides Operations Update CALGARY, May 3, 2012 – Condor Petroleum Inc. (“Condor” or the “Company”) (TSX:CPI) is pleased to provide an update on its operations at the Zharkamys West 1 Contract Territory (the “Zharkamys Territory”) and the Marsel Contract Territory (the “Marsel Territory”) in Kazakhstan. Zharkamys Territory Shoba Appraisal Program: Shoba-8 (Sh-8), the first of four appraisal wells in 2012, has reached its planned total depth of 883 meters. Sh-8 penetrated 15 meters of gross oil pay and resulted in 8.7 meters of net pay above the field oil water contact. Production casing has been set and the well is scheduled to be flow-tested once regulatory approvals are obtained. Sh-8’s successful results extend the Shoba field north into a separately mapped fault block. The common oilwater contact between the fault blocks suggests a continuous oil pool and should increase the Shoba field’s ‘proved + probable’ reserves, where ‘possible’ reserves were previously assigned. Drilling of Shoba-9 (Sh-9), a second well to the north of the mapped fault, has recently commenced. Two other Shoba appraisal wells will be drilled after Sh-9, which are located south of the mapped fault and will be produced as part of the Trial Production Period (“TPP”) commencing in the third quarter 2012. Testing Activities: The ninety day production test on the TasW-4 well began in late April 2012. A 21 meter interval was perforated with initial oil rates exceeding 700 barrels per day. Stabilized flow rates will be reported once hydrodynamic testing is completed. A second ninety day test is planned for TasW-4 after the current production test and targets a separate 11 meter interval. A service rig is currently moving onto the TasW-3 well to complete a 5 meter interval, with a ninety day production test planned to begin in June 2012.
Marsel Territory Asa‐1 Gas Discovery: The first well drilled using the new Marsel 3D seismic data was Asa-1. This well reached a total depth of 2,670 meters in April 2012. The primary Devonian target zone was encountered at 2,408 meters, consisting of fractured conglomerates and breccias. Wireline logging, in combination with two successful open-hole Drill Stem Tests (“DSTs”), confirms a continuous 262 meter gas column has been penetrated, with an estimated 110 meters of net pay. The DSTs resulted in flow rates ranging between 2.1 and 2 11.1 MMscf/day. The gas was dry with no formation water indicated during the flow periods. A gas-water contact was not encountered. Production casing has been set in anticipation of additional flow testing. About Condor Petroleum Inc. Condor is a Canadian oil and gas company with assets in Kazakhstan and Canada. Condor holds a 100% interest in the exploration rights to the 2,610 square km Zharkamys Territory, located in Kazakhstan’s Pre‐Caspian basin. Condor also holds a 66% interest in Marsel Petroleum LLP which has the exploration rights to the 18,500 square km Marsel Territory, located in Kazakhstan’s Chu‐ Sarysu basin. The Company operates certain oil and natural gas properties in Alberta and Saskatchewan and holds non‐operated working interests in a number of other properties in Alberta. The Company is listed on the TSX under the symbol “CPI”.
CALGARY, ALBERTA--(Marketwire - May 9, 2012) - Condor Petroleum Inc. (\"Condor\" or the \"Company\") (TSX:CPI) is pleased to announce the release of its Interim Condensed Consolidated Financial Statements for the period ended March 31, 2012, together with the related Management\'s Discussion and Analysis (\"MD&A\"). These documents will be made available under Condor\'s profile on SEDAR at www.sedar.com and on the Condor website at www.condorpetroleum.com. All financial amounts in this press release are presented in Canadian dollars.
First quarter 2012 highlights include:
At the Zharkamys territory (\"Zharkamys\") in Kazakhstan, the ninety day production test on the TasW-4 well began in April. A 21 meter interval was perforated with initial oil rates exceeding 700 barrels per day. Stabilized flow rates will be reported once hydrodynamic testing is completed. A second ninety day test is planned for TasW-4 after the current production test and targets a separate 11 meter interval.
During the quarter, Condor completed the first production test on one zone of the TasW-3 well and produced an average of 88 barrels per day flowed. A ninety day production test for a second 5 meter net pay interval is expected to commence in June 2012.
In April, Shoba-8, the first of four appraisal wells, reached its planned total depth of 883 meters. Sh-8 penetrated 15 meters of gross oil pay and resulted in 8.7 meters of net pay above the field oil water contact. Production casing has been set and the well is scheduled to be flow-tested once regulatory approvals are obtained. Drilling of Shoba-9, a second appraisal well, has recently commenced.
Condor plans to drill up to 12 additional wells at Zharkamys during 2012, including 10 exploration wells (5 deep and 5 shallow) and 2 Shoba appraisal wells. The Company is in the process of contracting a second drilling rig to begin exploration drilling in the third quarter of 2012.
Since the Company expects to transition into sustained oil production in Kazakhstan during 2012, a Letter of Intent (\"LOI\") was recently signed to purchase a 90% interest in an existing oil terminal located 12 kilometers northwest of Zharkamys. In additional to providing oil storage, the facility has a rail spur that ties into the main rail line between Aktobe and Atyrau, and should expand the Company\'s future oil marketing options.
The first well drilled at the Marsel territory (\"Marsel\") using Company acquired 3D seismic data was Asa-1. This well reached a total depth of 2,670 meters in April 2012. The primary Devonian target zone was encountered at 2,408 meters, consisting of fractured conglomerates and breccias. Wireline logging, in combination with two successful open-hole Drill Stem Tests (\"DSTs\"), confirms a continuous 288 meter gas column has been penetrated, with an estimated 110 meters of net pay. The DSTs resulted in flow rates ranging between 2.1 and 11.1 MMscf/day. The gas was dry with no formation water indicated during the flow periods. A gas-water contact was not encountered. Production casing has been set in anticipation of additional flow testing.
Condor\'s non-core Canadian properties continue to provide positive cash-flow despite minimal capital expenditures and production has remained relatively steady with gradual natural declines.
Selected financial information:
§
For the three months ended March 31 (000\'s) 2012 2011
Oil and natural gas sales 796 838
Net loss attributable to Condor (4,054 ) (2,995 )
Net loss per share - basic and diluted (0.01 ) (0.01 )
Capital expenditures 8,831 3,269
§
As at (000\'s) March 31, 2012 December 31, 2011
Working capital 51,480 64,132
Total assets 198,428 206,170
Total liabilities 12,444 14,387
§
About Condor Petroleum Inc.
Condor is a Canadian oil and gas company with assets in Kazakhstan and Canada. Condor holds a 100% interest in the exploration rights to the 2,610 square km Zharkamys Territory, located in Kazakhstan\'s Pre-Caspian basin. Condor also holds a 66% interest in Marsel Petroleum LLP which has the exploration rights to the 18,500 square km Marsel Territory, located in Kazakhstan\'s Chu- Sarysu basin. The Company operates certain oil and natural gas properties in Alberta and Saskatchewan and holds non-operated working interests in a number of other properties in Alberta. The Company is listed on the TSX under the symbol \"CPI\". …
Quelle: http://www.marketwire.com/press-release/...esults-tsx-cpi-1655223.htm
Salve,
Tasche
Sonst würde er mal die Marsel -Bohrung herausstellen und in Bopd equivalent umrechnen.
Ich behaupte mal, daß nur 10 % der User mit seinen Gasmengen (11.1 MMscf/day)
was anfangen können...
I million cubicfuss sind um die 6000 Dollar.....