15/5 2009 09:04 collersteen 0
11188 Takker.....
Det starter godt:
PRESIDENT’S MESSAGE
We had a major breakthrough this quarter in Quebec.
The multiple well tests from a single Utica zone over our acreage have largely addressed our remaining
technical concerns about this play. It has validated our belief that the Utica shale will be commercialized
with horizontal wells. Early results from other zones in the Utica and shallower Lorraine were also very
encouraging. With further engineering work, we are more confident in the potential for stacked shale plays
that, if successful, could ultimately reduce F&D costs to under $1.00 an mcf.
We suspended our capital programs at Antler and Greater Sierra this winter to improve our return of
capital. Our balance sheet remained strong with a working capital surplus of over $51 million, consisting
primarily of cash and equivalents.
Denne her passage er vel heller ikke så skidt igen:
The stabilized flow rates from the vertical wells, St. David #1 and La Visitation #1, of 450 mcf/d and 300
mcf/d, respectively, were remarkable. Attributable to a single zone within the Utica which also produced at
over 800 mcf/d from Gentilly #1, the rates confirm the geographical extent of this zone over a large area
and demonstrate relative repeatability of results.
Although the results are from three wells, we believe the flow rates of between 300-800 mcf/d are
extraordinary even in comparison to press releases of 5-20 mmcf/d from other shale plays. Our results
represent stabilized long-term rates, as opposed to instantaneous or initial rates, that are positively
correlated to recoverable reserves. Furthermore, they are vertical and account for 100% of wells drilled in
the specific Utica zone as opposed to the top 5% or 10% of horizontal wells in press releases.
Og Binnion slutter så af med at liste denne "forsinkelse" ud. Alt efter ens tidshorisont i aktien er det jo så godt eller skidt, men mon ikke de fleste kortsigtede er blevet smidt ud af aktien over de sidste 3-6mdr anyway.
Outlook
In a capital constrained environment, our partners have indicated they plan to proceed with further work in
the Lowlands at a more measured pace. While we believe this has extended the commercialization process
by 12-18 months, this has the benefit of ensuring that capital is spent prudently. We are currently targeting
a pilot horizontal program in 2010 and, with success, commercial development in 2011.
Nåh, jeg læser lidt videre. Jeg har stor tiltro til at Binnion and friends forvalter selskabet godt....
Det starter godt:
PRESIDENT’S MESSAGE
We had a major breakthrough this quarter in Quebec.
The multiple well tests from a single Utica zone over our acreage have largely addressed our remaining
technical concerns about this play. It has validated our belief that the Utica shale will be commercialized
with horizontal wells. Early results from other zones in the Utica and shallower Lorraine were also very
encouraging. With further engineering work, we are more confident in the potential for stacked shale plays
that, if successful, could ultimately reduce F&D costs to under $1.00 an mcf.
We suspended our capital programs at Antler and Greater Sierra this winter to improve our return of
capital. Our balance sheet remained strong with a working capital surplus of over $51 million, consisting
primarily of cash and equivalents.
Denne her passage er vel heller ikke så skidt igen:
The stabilized flow rates from the vertical wells, St. David #1 and La Visitation #1, of 450 mcf/d and 300
mcf/d, respectively, were remarkable. Attributable to a single zone within the Utica which also produced at
over 800 mcf/d from Gentilly #1, the rates confirm the geographical extent of this zone over a large area
and demonstrate relative repeatability of results.
Although the results are from three wells, we believe the flow rates of between 300-800 mcf/d are
extraordinary even in comparison to press releases of 5-20 mmcf/d from other shale plays. Our results
represent stabilized long-term rates, as opposed to instantaneous or initial rates, that are positively
correlated to recoverable reserves. Furthermore, they are vertical and account for 100% of wells drilled in
the specific Utica zone as opposed to the top 5% or 10% of horizontal wells in press releases.
Og Binnion slutter så af med at liste denne "forsinkelse" ud. Alt efter ens tidshorisont i aktien er det jo så godt eller skidt, men mon ikke de fleste kortsigtede er blevet smidt ud af aktien over de sidste 3-6mdr anyway.
Outlook
In a capital constrained environment, our partners have indicated they plan to proceed with further work in
the Lowlands at a more measured pace. While we believe this has extended the commercialization process
by 12-18 months, this has the benefit of ensuring that capital is spent prudently. We are currently targeting
a pilot horizontal program in 2010 and, with success, commercial development in 2011.
Nåh, jeg læser lidt videre. Jeg har stor tiltro til at Binnion and friends forvalter selskabet godt....
15/5 2009 14:25 loppen10 011205 Jeg har ingen problemer med at vente, disse aktie er alligevel købt til pensionen, og da jeg købte dem vidste man godt det kunne gå begge veje, jeg tænker ikke engang et split sekund på at sælge, og kunne den megt længere ned bliver der suppleret op.
Ønske om en god weekend til alle
Ønske om en god weekend til alle
16/5 2009 16:37 Gjern 011290 Pareto efter QEC 1. kvt. rapportering. Bemærk nederst at de holder kursmålet på 32 n.kr. på 1 års sigt. :)
QEC 1Q - figures in line, good cash conservation, limited news flow expected before the summer
Conclusion: 1Q results are in line, and cash conservation is good. There is no major news on Quebec. The next results will be test results from the TBR zone (non-shale zone) on the St. Edouard well in June, while the shale zones will be tested in the latter part of the summer. Before this, we expect the gas price development to be the main driver of the share price
1Q Figures
Questerre 1Q cash flow from operations was CADm 1.1, in line with guidance and expectations
This is down from CADm 2.8 in 4Q, mainly due to the low natural gas prices in North America
Cash stands at CADm 51.8 at the end of 1Q, down from CADm 54.3 at year end, reflecting participation in the two Forest Oil horizontal wells in Quebec
St- Lawrence Lowlands, Quebec
After the recent well results showing promising results from several zones, the company thinks ultimate capex can get down to as low as USD 1.0/mcf. This compares to our current estimate of USD 1.9/mcf, and could further reduce the break-even price of the project from the estimated USD 3.5/mcf
The company also points to that the recent well results from the St.David and La Visitation wells of 300-450 mcf/day produced from the same zone as the Gentilly well from last year which tested at 800 mcf/day, and that it thereby confirmed the geographical extent of this zone over a large area
The fourth well, St. Edouard, will undergo an open-hole test from the Trenton Black River formation later in May (likely with results in June), while the shale zones will be tested later in the summer
Further, Talisman is expected to drill its first horizontal test well into the most prospective Utica formation early 2010, and thereafter the first pilot production wells later in 2010
When it comes to the more disappointing Forest Oil horizontal wells from this winter, the operator plans to do another test of one of the wells during the summer
We have a BUY (High Risk) recommendation and NOK 32 Target Price on QEC
QEC 1Q - figures in line, good cash conservation, limited news flow expected before the summer
Conclusion: 1Q results are in line, and cash conservation is good. There is no major news on Quebec. The next results will be test results from the TBR zone (non-shale zone) on the St. Edouard well in June, while the shale zones will be tested in the latter part of the summer. Before this, we expect the gas price development to be the main driver of the share price
1Q Figures
Questerre 1Q cash flow from operations was CADm 1.1, in line with guidance and expectations
This is down from CADm 2.8 in 4Q, mainly due to the low natural gas prices in North America
Cash stands at CADm 51.8 at the end of 1Q, down from CADm 54.3 at year end, reflecting participation in the two Forest Oil horizontal wells in Quebec
St- Lawrence Lowlands, Quebec
After the recent well results showing promising results from several zones, the company thinks ultimate capex can get down to as low as USD 1.0/mcf. This compares to our current estimate of USD 1.9/mcf, and could further reduce the break-even price of the project from the estimated USD 3.5/mcf
The company also points to that the recent well results from the St.David and La Visitation wells of 300-450 mcf/day produced from the same zone as the Gentilly well from last year which tested at 800 mcf/day, and that it thereby confirmed the geographical extent of this zone over a large area
The fourth well, St. Edouard, will undergo an open-hole test from the Trenton Black River formation later in May (likely with results in June), while the shale zones will be tested later in the summer
Further, Talisman is expected to drill its first horizontal test well into the most prospective Utica formation early 2010, and thereafter the first pilot production wells later in 2010
When it comes to the more disappointing Forest Oil horizontal wells from this winter, the operator plans to do another test of one of the wells during the summer
We have a BUY (High Risk) recommendation and NOK 32 Target Price on QEC
22/5 2009 15:35 JensHorka 011856 anbefales endnu engang af Jean-Francois Tardiff på BNN
http://watch.bnn.ca/market-call/may-2009/market-call-may-21-2009/#clip174643
http://watch.bnn.ca/market-call/may-2009/market-call-may-21-2009/#clip174643
23/5 2009 10:20 lessismore 011900 Hvis man fortsætter kommer denne frem:
http://watch.bnn.ca/market-call/may-2009/market-call-may-21-2009/#clip175350
Se den!
http://watch.bnn.ca/market-call/may-2009/market-call-may-21-2009/#clip175350
Se den!
23/5 2009 11:12 fisker99 011901 Talisman sees 30 tcf recoverable unconventional gas
Wed May 20, 2009 10:31am EDT Email | Print | Share| Reprints | Single Page[-] Text [+]
Market News
CALGARY, Alberta, May 20 (Reuters) - Talisman Energy Inc (TLM.TO) now estimates its North American lands have as much as 132 trillion cubic feet of unconventional natural gas in place, more than 30 tcf of which may be recoverable, its chief executive said on Wednesday.
Talisman, which has spent the past 20 months reshaping its asset portfolio to focus on longer-term opportunities, also aims to make producing gas from shale plays in British Columbia, Alberta, Pennsylvania and Quebec profitable at a $4 per thousand cubic feet gas prices, CEO John Manzoni said.
"We've learned more about that land base and we now estimate 132 tcf of gas in place. We believe this to be a more tightly defined estimate than last year," Manzoni said at a company-sponsored investor conference in New York.
As much as 30 tcf could be developable over time at such plays as Montney, Outer Foothills and Marcellus, he said. That excludes any contribution from its Quebec lands, which are still in the early evaluation stage.
"Our unconventional base is improving all the time. We've not stopped adding to our lands and our pilot activity continues into this year. In some areas we're moving to development," Manzoni said.
Unconventional natural gas has changed the North American gas market over the past few years, as companies have developed technology to uncover trillions of cubic feet of new reserves across the continent.
Shale plays require rapid-fire drilling and rock-fracturing techniques to maintain and increase gas production.
"We're working to bring down the break-even price of these plays all the time, but we believe we can certainly make them work at $4 gas prices," Manzoni said.
The focus on unconventional gas is part of Manzoni's strategy of concentrating on areas around the world that offer the best long-term returns. The others include its operations in Southeast Asia and the North Sea, where it announced a discovery in the Norwegian sector on Tuesday called Grevling.
The efforts have involved selling 25,000 barrels a day of production for proceeds of C$2.5 billion ($2.2 billion), an amount executives said has exceeded expectations.
Talisman shares rose 62 Canadian cents, or 3.7 percent, to C$17.57 on Wednesday morning on the Toronto Stock Exchange.
($1=$1.14 Canadian) (Reporting by Jeffrey Jones; editing by Peter Galloway)
Wed May 20, 2009 10:31am EDT Email | Print | Share| Reprints | Single Page[-] Text [+]
Market News
CALGARY, Alberta, May 20 (Reuters) - Talisman Energy Inc (TLM.TO) now estimates its North American lands have as much as 132 trillion cubic feet of unconventional natural gas in place, more than 30 tcf of which may be recoverable, its chief executive said on Wednesday.
Talisman, which has spent the past 20 months reshaping its asset portfolio to focus on longer-term opportunities, also aims to make producing gas from shale plays in British Columbia, Alberta, Pennsylvania and Quebec profitable at a $4 per thousand cubic feet gas prices, CEO John Manzoni said.
"We've learned more about that land base and we now estimate 132 tcf of gas in place. We believe this to be a more tightly defined estimate than last year," Manzoni said at a company-sponsored investor conference in New York.
As much as 30 tcf could be developable over time at such plays as Montney, Outer Foothills and Marcellus, he said. That excludes any contribution from its Quebec lands, which are still in the early evaluation stage.
"Our unconventional base is improving all the time. We've not stopped adding to our lands and our pilot activity continues into this year. In some areas we're moving to development," Manzoni said.
Unconventional natural gas has changed the North American gas market over the past few years, as companies have developed technology to uncover trillions of cubic feet of new reserves across the continent.
Shale plays require rapid-fire drilling and rock-fracturing techniques to maintain and increase gas production.
"We're working to bring down the break-even price of these plays all the time, but we believe we can certainly make them work at $4 gas prices," Manzoni said.
The focus on unconventional gas is part of Manzoni's strategy of concentrating on areas around the world that offer the best long-term returns. The others include its operations in Southeast Asia and the North Sea, where it announced a discovery in the Norwegian sector on Tuesday called Grevling.
The efforts have involved selling 25,000 barrels a day of production for proceeds of C$2.5 billion ($2.2 billion), an amount executives said has exceeded expectations.
Talisman shares rose 62 Canadian cents, or 3.7 percent, to C$17.57 on Wednesday morning on the Toronto Stock Exchange.
($1=$1.14 Canadian) (Reporting by Jeffrey Jones; editing by Peter Galloway)
25/5 2009 22:00 Gjern 012065 That excludes any contribution from its Quebec lands, which are still in the early evaluation stage.
Denne del fra ovennævnte kunne jeg godt tænke mig at se Talisman udtale sig om.
Nu har vi haft faldende gaspriser og sikkert short-selling påvirkning en hel uge nedadgående. Kunne være rart med en melding fra TLM eller fra QEC vedr. Beaver River, så denne gentagne shorting kunne klapse nogen af. :)
Denne del fra ovennævnte kunne jeg godt tænke mig at se Talisman udtale sig om.
Nu har vi haft faldende gaspriser og sikkert short-selling påvirkning en hel uge nedadgående. Kunne være rart med en melding fra TLM eller fra QEC vedr. Beaver River, så denne gentagne shorting kunne klapse nogen af. :)
