hey nurseryi am hoping for some falls in adi myself, with the...

hey nursery

i am hoping for some falls in adi myself, with the way the market is today the sellers are there to get some off. doing ok with aut as well so far.. great day for topping up with the spectacular results that were posted. plenty buying into my orders..

i was hoping the announcement would have been later this week and was hoping to pick up as much as i could today.. was pretty peeved off the announcement came through before open today myself

will be buying more again

5 May 2010
Company Announcements Platform
Australian Stock Exchange Limited
Exchange Centre
20 Bond Street
SYDNEY NSW 2000
Via ASX Online

Further Success in Sugarkane Gas & Condensate Field - Sugarloaf AMI Production Update

Adelphi Energy Limited (Adelphi) is pleased to provide the following initial production results from the recently stimulated Morgan #1H and Easley #1H wells located within the Sugarloaf AMI in the Sugarkane Gas & Condensate Field.

Morgan #1H

Following the successful fracture stimulation of approximately 4,400 ft of horizontal section as per the frac design, the Morgan #1H well was flowed back to sales commencing on 27 April 2010. The well production has now stabilized and the following Initial Production rate was
achieved:

5.16 mmscf/d Gas & 2,046 bcpd or 31 mmscfe/d


Easley #1H

Following the successful fracture stimulation of approximately 2,750 ft of horizontal section as
per the frac design, the Easley #1H well was flowed back to sales commencing on 1 May 2010. The well production stabilized relatively quickly and the following Initial Production rate was achieved:

6.81 mmscf/d Gas & 780 bcpd or 17.9 mmscfe/d

Whilst these initial rates are very encouraging, the following points should be noted:-
These values are the maximum average rates achieved over consecutive 24 hour flowing periods since the wells were brought on line.
The gas equivalent rates have been calculated using a 12:1 conversion ratio and a 25% uplift in the gas rate based on the observed high calorific value of the gas
produced within the field to date.
These are initial production rates observed during clean up and as such are not yet
indicative of a short or long term production profile.
The wells still have considerable fluids to recover from the fracture stimulation operations.
The wells are currently producing through the production casing. A production tubing string will be installed in due course in each well.

Adelphi Managing Director Chris Hodge commented:
These latest flow rates are at the higher end of our expectations and continue to demonstrate the highly productive liquids rich nature of the Eagle Ford shale in our area. We now have four producing wells within the Sugarloaf AMI and have successfully appraised a large proportion of our lease area. We look forward to the upcoming fracture stimulation of the Rancho Grande well and to the continued production performance of our existing wells before commencement of the Sugarloaf development phase.


ip of 30mmcfpd is pretty much on the top end of any result so far in the eagleford..

keep on selling today and i am topping up as much as i can