PSR Tip - Eternal Energy A0JDD7
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Post Time: 3/26/2007 00:34
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TO1,
I have looked at a seismic cross-section for Laurel Valley. At the drilling location, the Kopervik shows a huge amplitude anomaly and is approximately 500 feet thick. I predict it will contain a retrograde gas condensate which will produce 100 bbls/MMcf of pentanes plus which is in equilibrium with a 40 degree API gravity oil leg somewhere downdip. The Birch is difficult to interpret but could be 200 to 400 feet thick and according to the IFR\'s consultant explorationists cartoon could be connected to the Kopervik and so have stacked pay. The Piper zone is far down the hole from these two and appears to pinch out much farther to the east. Since the Piper is lower in the graben it was subject to much more subsidence than the other two zones so has a better chance of trapping oil, however, this is a combination structural stratigraphic play. Updip the trapping will be due to pinchouts against the highs. Laterally, there will be no sand because the sand is transported in the graben not on the adjacent highs(ie. on the upthrown side of the faults). Remember that this play is completely covered by three dimensional seismic and the location of the sand can be fairly well defined. Although trapping is probably the largest risk factor, I personally do not think it is that great, 1 in 3 to 1 in 5,(of course, AIMHO). Now, to my biggest point of contention with you about how much one well will prove. This Kopervik structure is very large and is about 15 sections up dip of the current location, not my numbers, and with an intersection of all 500 feet of hydrocarbon bearing sand on this well approximately 1 Billion barrels of recoverable oil would be inferred. Since I believe this will be a gas condensate discovery in the Kopervik this would be about 5 Trillion standard cubic feet of gas with about 500 MMSTB of condensate. Now how much downdip? Well, they will have to drill more wells to ascertain that. Another risk factor is how much productive sand is in that 500 foot seismic amplitude anomaly, so factor down these numbers by the net to gross pay ratios. Please distinguish the difference between inferred and proven. Reservoir engineering trained investors who do not have to abide by strict standards will have bracketed estimates of the size of the Laurel Valley discovery, should we be so lucky to have one, as soon as they see what the bit and the MWD tools have seen on April 14, 2007. Bear in mind also that if there is no water intersected in the discovery well that there will be possibly huge further amounts of reserves downdip. If pressures were measured in the acquifers that established the highest known water levels then hydrodynamic calculations will allow Oilexco\'s reservoir engineers to postulate the oil water interfaces and thus infer more about the size of reserves than the rest of us. By the way, Cannacord did not make the estimate of 600 MMSTBO. That was published in an early presentation found on the Eternal Energy website. This is a huge play and in truth much bigger than the P50 estimate indicates. If you had done your due diligence, you would have discovered that there is, actually, a 10% probability that the recoverable reserves could be larger than 1874 MMSTBO, should there be a discovery. I have commented on this issue before on the IFR BB and it seems that there is an agenda to disemminate disinformation about the magnitude of this play. Investors, do your due diligence, look at IFR\'s and Eternal Energy\'s websites. The information is there. AIMHO. Captaincam.
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Wertpapier: American Eagle Energy |
Eternal Energy Corp. Commences North Sea Drilling Operations
Tuesday March 27, 8:00 am ET
LITTLETON, Colo., March 27, 2007 (PRIME NEWSWIRE) -- Eternal Energy Corp. (OTC BB:EERG.OB - News) announces that drilling operations have commenced on the Company's Laurel Valley prospect located in the outer Moray Firth area in the U.K. sector of the North Sea. The operator, Oilexco (45%), is drilling the well using the Sedco 712 propulsion-assisted, semi-submersible drilling vessel currently under contract.
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The well will evaluate three prospective reservoir targets identified on a 250 square kilometer 3D seismic survey. These targets are located 24 kilometres south of the 639 million barrel Claymore field; 20 kilometres south of the 132 million barrel Scapa field; and 9 kilometres north of the 592 BCF Goldeneye field. These fields were developed on graben trends identified by seismic data. Based on a 3-D seismic survey, a similar graben exists over the Laurel Valley prospect.
EERG's partners in this project are Oilexco, International Frontier Resources and Gulf Shores Resources. Eternal Energy has a 9.1875% working interest in the Laurel Valley project.
The Laurel Valley well is the first of a two-well North Sea 2007 drilling program for EERG.
About Eternal Energy Corp.:
Eternal Energy Corp. is an oil and gas company engaged in the exploration for petroleum and natural gas in the State of Nevada and the North Sea. The company was incorporated in Nevada on July 25, 2003 to engage in the acquisition, exploration, and development of natural resource properties. The Private Securities Litigation Reform Act of 1995 provides a ``safe harbor'' for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to prospects for success in these initial drilling activities. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of Eternal Energy Corp. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, planned capital expenditures, future funding sources, anticipated sales, potential contracts, dependence on existing management, financing activities, and domestic and global economic conditions.
Contact:
Eternal Energy Corp.
Jamie Kelley, Investor Relations
604-730-2776
--------------------------------------------------
Source: Eternal Energy Corp.
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LITTLETON, Colo., April 11, 2007 (PRIME NEWSWIRE) -- Eternal Energy Corp.
(OTCBB:EERG) announces that it has agreed to sell all of the shares that it
owns in Pebble Petroleum Inc. ("Pebble Petroleum") to Heartland Resources
Inc. ("Heartland"). Eternal Energy owns five percent of Pebble Petroleum.
Emerald Bay Holdings Ltd. ("Emerald Bay"), a private Irish corporation,
which owns the other ninety-five percent of Pebble Petroleum, has also
agreed to sell all of its interests in Pebble Petroleum to Heartland. The
agreement is subject to satisfaction of certain material terms and
conditions, completion of the financing, completion of satisfactory due
diligence and title reviews, approval of the TSX Venture Exchange, and other
terms and conditions that are consistent with similar transactions in the
oil and gas industry.
Heartland is an Ontario corporation petroleum and natural gas exploration
company having its head office in Vancouver, British Columbia. Heartland is
a public company, whose shares are listed on the TSX Venture Exchange under
the trading symbol "HRI".
Pebble Petroleum is a privately owned British Columbia corporation, which,
directly and through its wholly-owned U.S. subsidiary Rover Resources Inc.
("Rover"), holds petroleum and natural gas exploration rights to
approximately 150,000 gross and net acres of property in western Canada and
the western United States. Pebble Petroleum acquired its PNG rights in
Canada pursuant to an agreement with Eternal Energy, Fairway Exploration
LLC, a private U.S. corporation controlled by Steven Swanson, and Prospector
Oil Corp., a private U.S. corporation controlled by Mr. Richard Findley, who
together identified and provided initial analysis of the potential of the
prospects. The majority of Pebble's PNG rights are held under Provincial
crown leases and licenses in Canada, with a small portion granted over state
lands and privately owned properties in the U.S. The properties are
exploration properties with no production and no proven reserves.
Pursuant to the agreement, Heartland will cause Pebble Petroleum to pay its
entire CDN$882,000 convertible loan to Eternal Energy. The obligation was
generated by consultant fees due to Eternal Energy for services it rendered
to Pebble Petroleum in October of 2006. Heartland has also agreed to cause
Pebble Petroleum to pay its outstanding CDN$17.2 million obligation to
Emerald Bay. The obligation was generated by loans made by Emerald Bay to
Pebble Petroleum in connection with Pebble Petroleum's successful bids for
the 150,000 acres last year. Heartland will also purchase all of the Pebble
Petroleum shares from Eternal Energy and Emerald Bay for their initial
aggregate subscription price of $300.00. Repayment of the debt due to
Eternal Energy and the loan due to Emerald Bay is a condition of closing of
Heartland's purchase of the Pebble Petroleum shares.
Heartland has agreed to maintain Pebble's obligation to provide to Eternal
Energy a five percent gross overriding royalty interest on all production
from each well drilled on the Canadian acreage previously acquired, or
subsequently acquired in the prospect, by Pebble Petroleum. In addition,
Heartland has agreed to pay to Eternal a US$250,000 spud fee for each of the
first eight wells drilled or reentered on the Canadian acreage previously
acquired, or subsequently acquired in the prospect, by Pebble Petroleum.
Further, Eternal Energy will maintain its ten percent working interest in
Pebble Petroleum's North Dakota properties, with the remaining ninety
percent held by Rover. Rover and Eternal Energy are joint venture partners
for the exploration and development of those prospects, with each party
bearing its pro-rata share of acquisition, exploration, and development
costs. To date, Rover and Eternal have acquired the PNG rights to
approximately 5,000 acres in the U.S., which acquisitions were funded by
Rover. Eternal Energy is currently indebted to Rover in the amount of
approximately US$42,000 on account of acreage acquisition costs.
In addition to the debt repayments, Heartland has agreed to allot and
reserve for issuance to Eternal Energy and Emerald Bay 25,000,000 of its
common shares at a deemed price of CDN$0.85 per share on a performance basis
tied to Heartland's oil and gas production from Pebble Petroleum's
properties. If, at any time during the five-year period following closing of
the agreement, the average gross production of crude oil (or natural gas
equivalents) on Pebble Petroleum's lands equals or exceeds 1,000 barrels per
day for 30 consecutive days, Heartland shall issue 5,000,000 common shares
to Eternal Energy and Emerald Bay, to be allocated in accordance with the
percentage interests that Eternal Energy (5% or 250,000 shares) and Emerald
Bay (95% or 4.5 million shares) held in Pebble Petroleum. Heartland will
issue an additional 5,000,000 shares for each incremental 1,000 barrels of
average daily production for 30 consecutive days, such that, if Heartland
achieves an average of 5,000 barrels per day of crude oil (or natural gas
equivalents) production for not less than 30 consecutive days within the
five-year period, the entire 25,000,000 shares will issued (1.25 million
shares to Eternal Energy and 23.75 million shares to Emerald Bay).
About Eternal Energy Corp.:
Eternal Energy Corp. is an oil and gas company engaged in the exploration
for petroleum and natural gas in the State of Nevada and the North Sea. The
company was incorporated in Nevada on July 25, 2003 to engage in the
acquisition, exploration, and development of natural resource properties.
Forward-Looking Statements:
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information included in this
press release contains statements that are forward-looking, such as
statements related to prospects for success in these initial drilling
activities. Such forward-looking information involves important risks and
uncertainties that could significantly affect anticipated results in the
future and, accordingly, such results may differ from those expressed in any
forward-looking statements made by, or on behalf of Eternal Energy Corp.
These risks and uncertainties include, but are not limited to, those
relating to development and expansion activities, planned capital
expenditures, future funding sources, anticipated sales, potential
contracts, dependence on existing management, financing activities, and
domestic and global economic conditions.
CONTACT: Eternal Energy Corp.
Investor Relations
Jamie Kelley
604-730-2776
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Nächste Wette im Juli beim Lytham & St. Annes Projekt mit Lundin Petr. als großen Partner:
"EERG has now turned its focus to the Quad 41/42 North Sea gas project with Lundin Petroleum, its Mississippian-Chainman shale project at Big Sand Spring Valley in the Great Basin of Nevada, and its participation on the development of a large oil and gas resource opportunity in Western Canada."
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Und nicht vergessen, die Amis machen den Kurs, die haben die letzte Pleite hoffentlich schon wieder vergessen, sodaß kurz davor der Kurs steigen wird!?
Was in Nevada-Projekt passiert, davon hört man nie etwas, keine Ahnung...
Bis zum Juli kann man sich jedoch noch billig (bei 0,10 € ???) eindecken, und etwas spekulieren.
Meine Meinung
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Ryder-Scott Co., a Houston-based petroleum engineering consulting firm, has analyzed the potential for waterflooding of the Glasscock reservoir underlying the Eternal acreage. Ryder-Scott attributes 900,000 bbls of proven undeveloped reserves in the Glasscock reservoir (405,000 bbls net to Eternal’s 45% interest). EERG plans to invest an additional $0.9 million over the next 12 months to implement the Glasscock waterflood.
Waterflooding is a technique used to enhance recoveries of oil by injecting water into a select set of wells. Water is then forced through the reservoir rock, driving the crude oil toward a set of production wells from which the oil is withdrawn.
This is the first production acquisition by EERG. The acquired acreage currently produces approximately 70 BOPD and 50 mcf/day. According to a third-party engineering study, the interest of EERG has the potential, at current commodity prices, to generate $300,000 to $400,000 per month of cash during the 18-month peak production period following a successful waterflood.
In addition to the Glasscock reservoir, EERG now has rights to nine other potentially hydrocarbon-bearing reservoirs on the acquired acreage. A San Antonio-based registered petroleum engineering firm has estimated that there may be an additional 1-million BOE (450,000 net to EERG’s 45% interest) of proved undeveloped reserves in these nine other reservoirs.
PNP Petroleum, Inc. of San Antonio, Texas, holds the remaining 55% of the prospect and is the operator.
About Eternal Energy Corp.:
Eternal Energy Corp. is an oil and gas company engaged in the exploration of petroleum and natural gas in the State of Nevada and the North Sea. The company was incorporated in Nevada on July 25, 2003 to engage in the acquisition, exploration and development of natural resource properties.
The Private Securities Litigation Reform Act of 1995 provides a ``safe harbor'' for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements relating to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and/or potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, Eternal Energy Corp. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.
CONTACT: Jamie Kelley
Investor Relations
Eternal Energy Corp.
604-730-2776
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http://www.lundin-petroleum.com/Documents/ot_2007_exp_wells_e.pdf
hier nochn Video:
http://www.webfilms.ca/quad412-flash.htm
3 potentielle Lagerstätten für Erdgas.
Und zu Schluß noch ein Schreiben von Jamie Kelley (Investors Relation v. EERG):
--------------
We have no definite start-up for Nevada however I think the
geophysics and seismic data has now been assembled and is
currently being evaluated with the hope of beginning a drill
program before year's end.
The July 22 date was mentioned again a couple of weeks ago by
Michael Turko of Gulf Shores, one of the partners in the deal.
Again, not confirmed by us, but Michael was bullish on the early
start-up.
The waterflooding is about to start on the West Ranch and should
be completed by the end of summer.
This is the best information I have right now. Thanks for writing.
Kindest regards,
Jamie Kelley
Investor Relations
--------------
Also in Nevada und beim West Ranch Field passiert hoffentlich auch noch was, kurzfristig gehe ich hier mal von 0,30 € aus, die will ich hier schon noch sehen (sehr konservativ gedacht).
Grund dafür ist natürlich der Hype, den es kurz vor, sowie während des Bohrprojektes, geben wird.
Hoffentlich versauen die Insidermachenschaften von GUL nicht wieder alles, so geschen beim letzten Misserfolg im Laurel Valley Projekt.
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Monday August 6, 9:00 am ET
LITTLETON, Colo., Aug. 6 /PRNewswire-FirstCall/ -- Eternal Energy Corp. (OTC Bulletin Board: EERG - News) announces that drilling is in progress on its 41/10a-2 well on the Lytham prospect located in Block 41/10a, Production Licence P1129, in the southern North Sea sector of the United Kingdom continental shelf (UKCS).
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The operator, Lundin Petroleum (OMX Stockholm), has contracted the Global Santa Fe Galaxy II jack-up rig to drill this prospect. Drilling is expected to continue until the end of the month.
Eternal Energy initially contracted with Palace Exploration Company (E&P) Ltd. and International Frontier Resources Corp. (IFR:TSXv), to pay 15% ($1.5- million USD) towards the cost of the 5,500-foot exploration well to earn a 10% interest in a 240,000-acre block in Quad 41/42. Changing market conditions have put the new cost structure to drill and case the well at approximately $26-million USD. This would cause an unforeseen increase in EERG's investment share to a proposed $4.2-million USD. Discussions with Palace Exploration and IFR have been ongoing and the parties continue to explore this development with a view to reducing EERG's position in the prospect.
The final determination will be announced when discussions among the parties have concluded.
Partners in the well include Lundin Petroleum (operator), Challenger Minerals (North Sea) Ltd. and Palace Exploration Co. (E&P) Ltd., Gulf Shores U.K. Petroleum Ltd., Eternal Energy Ltd., Britcana Energy Ltd., and Monarch Energy Ltd.
In other developments, Eternal Energy Corp., after final analysis of geophysical and gravity data, has elected to reduce its exposure to 73,000 acres on its Nevada prospect. EERG is now looking for an operator to joint venture its Mississippian-aged, fractured shale project in the Great Basin of Nevada, adjacent to the prolific Railroad Valley.
EERG continues to own a five percent (5%) overriding royalty interest in 150,000 acres leased to Heartland Resources (HRI:TXv), an oil company that holds leased land with potential reserves in Western Canada and the northern US. Two wells have been commenced to begin to test the potential of this project. EERG has received $500,000 USD spud fees for the first two wells commenced. EERG will receive a $250,000 USD spud fee for each of the next six wells drilled by the operator.
EERG has increased its ownership to fifty percent (50%) of the SW extension of the West Ranch Field in Jackson County, Texas. The Glasscock reservoir that underlies EERG's interest is believed to be a hydrocarbon- bearing reservoir.
Ryder-Scott Co., a Houston-based petroleum engineering consulting firm, has analyzed the potential for waterflooding of the Glasscock reservoir underlying the Eternal acreage. Ryder-Scott attributes 900,000 bbls of proven undeveloped reserves in the Glasscock reservoir (420,000 bbls net to Eternal's 50% interest). Simulation testing is nearly completed and a pilot waterflood in the reservoir is expected begin in the fall.
About Eternal Energy Corp.:
Eternal Energy Corp. is an oil and gas company engaged in the exploration for petroleum and natural gas in the State of Nevada and the North Sea. The company was incorporated in Nevada on July 25, 2003 to engage in the acquisition, exploration and development of natural resource properties. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of Eternal Energy Corp. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.
Source: Eternal Energy Corp.
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Chance: West Ranch Field (420000 Barrel Öl für EERG) und Nevada (JV Partner wird gesucht, für Bohrungen ect.)
50 % Partner bei West Ranch ist PNP Petroleum ( www.pnppetro.com )
West Ranch Field Field, Jackson County, Texas is a producing oil and gas field oil field located 1 mile south of Vanderbilt, TX. The company owns 50% working interest in the entire 1200 acre southwest extension of the original West Ranch 12,000 acre field. The field was discovered in 1938 and the combined fields have a cumulative production of over 300 million bbls and 875 Bcf of gas. The company has had as many as 15 wells active producing over 140 bopd and 3.4 MMscfpd. The field has a total of 31 wells which have been produced. Currently, the field is producing from 7 wells. The company is designing an EOR project using waterflood technology. Recoverable Reserves are estimated to be as high as 0.9 million bbls from waterflooding the Glasscock sand.
Development Update
West Ranch Field:
Our Phase II development plan is complete and all wells that will be used for this Phase are ready for waterflood operations to commence. We have planned two injection wells and three producing wells. Water from the existing system will be used for the injection fluid. Ultimately, there are nine injectors and nine producers planned for the Glasscock Waterflood Project.
Current production is approximately 45 bopd.
Hoffentlich geht hier bald mal was los, in die richtige Richtung natürlich ;)
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