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tullii
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Studied: Power Engineering, Exploration Technology, Worked Upstream, Midstream, Downstream in Oil and Gas, Pipelines, Drilling, Refineries. I'm Interested in very big picture, game changers that come from sizeable economic deposits of Oil, Gas, Gold, Silver, Uranium, Specialty Metals used in... More
My company:
Tullii.com
My blog:
UNDER CONSTRUCTION TIL 2015
My book:
CrOblet Creating real opportunity by leveraging energy technology
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  • Seeing What Is Invisible To Others

    Seismic is the usual first step in identifying a play that can deserve further validation by drilling an exploratory well. With increasing labor and drilling costs, prospects for drilling must be based on highly accurate seismic interpretation which comes from obtaining good data and well defined structures. So any technology that gives advantage in defining structures can be highly significant. Here is one new invention that is worthy of being aware of.

    Recently a small Ukraine company with an office in Calgary was named as having one of the hottest new technologies in seismic processing. Its dubbed DWM and its allowing oil companies to literally see what is invisible to others who only have conventional seismic.

    What this means is finding oil in places overlooked by others and its changing the game for Exploration of oil and gas when looking for subsurface structures like salt domes that are key attributes in the tools used for exploration of hydrocarbons.

    DWM stands for Duplex Wave Migration (which won't mean much to you if you aren't an exploration geophysicist, however this is a big deal if you are in the business of find oilfields left overlooked by others from years past. I'm not going to pretend to suggest anything other than some very important discoveries have been found and will continue to be found using this kind of technology. So look for references in the fine print of the companies you invest in and look for the words DWM or Duplex Wave Migration.

    Tetraseis holds the patent and it has been used by Lukoil, Calvalley petroleum, and Rosneft in Russia and the Middle East. So in the case where existing data misses key structures like faults that can translate into drillable prospects or targets, the DWM can highlight these otherwise invisible attributes and find oil or gas where others missed it.

    So keep a look out for future presentations that mention this new patented technology or these companies listed below in the corporate presentations you are reading because any future exploration programs utilizing it could have an unfair advantage.

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    Mar 12 5:33 PM | Link | Comment!
  • Without Drilling A Single Hole The First Digital Gold Discovery

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    There is a first time for everything, but this is a definite first that is only possible with computing power available today.

    FPC is attempting a world first, to digitally discover ounces of Gold, Silver, Copper in the ground without drilling a single hole. Institutions, Mining Corporations and insiders already think its more than just possible and they ponied up $7 MILLION to prove it.

    They have 80 years of data compiled meticulously by 3 generations of mining engineers who trained each other at the passing of the torch between generations (in other words the data collected is great, consistent and highly useful and valueable). The data recorded is creating a Data Miner's dream. The story is now creating the real possibility of a maiden compliant 43-101 resource estimate without drilling a single hole in the ground.

    How is this possible? They aquired a mining camp with 80 years of seamless history back to the 1920's and now own the Rouyn Noranda Mining Camp and its data. Over the next 6 months at a cost of $150K per month they will digitally process data from over 4300 existing drill holes and mine the data for the best targets on over 305,000 meters of existing drilled out projects. With $7MM in the bank, they have nearly 4 years to pull this off, plenty of time.

    This has never been done before, but the opportunity is huge, if the data uncovers the undiscovered deeper or lateral targets containing un-extracted Gold, Silver and Copper...then Falco Pacific could become the most exciting resource prospect generator on the planet.

    728 Square Km is owned.

    Infrastructure is in place, mine, smelter, railway, water treatment.

    Cost to discover Gold is more like $2 than industry standard $15.

    No Confirmation Drilling is required because the drill holes are only 15m apart.This is the punchline, worth repeating, a 43-101 resource study without the cost of drilling even 1 hole, this could validate a massive database and turn FPC into an overnight validated resource company with Gold reserves at the lowest possible cost. Last I checked, big money is made when you are the lowest cost producer of something everybody wants and few can supply.

    You have less than 6 months to decide, once the 43-101 is published you will not see discount share prices like today ever again.

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    The company presentation materials are offered below.

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    The Red "HORNE VMS" used to be sitting on its side, over millions of years it was repositioned vertical through geologic changes and time. Now it sits straight up, perfect for drilling deeper and that is likely to find massive amounts of Gold and precious metals where indicated "Open to Depth"

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    Disclosure: I am long OSKFF.

    Additional disclosure: Osisko owns 18.5% of FPC and I am long Osisko

    Jan 16 4:40 PM | Link | 4 Comments
  • Petromanas Energy Sizes Up Albania Still Speculative Or Not

    Petromanas Energy Inc. - Albania/France/Australia

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    (Symbol PMI on TSX, PENYF on OTCBB)

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    Currency Converter

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    [TRANSCRIPT OF ABOVE BNN.ca INTERVIEW 02/26].

    BNN.ca

    NOTE: Anything in { } or [ ] are not direct quotes, I just added for clarity in the event readers don't understand certain references.

    BNN Interviewer Andy..

    "Time now for stakes and claims, its our weekly look at..a Venture listed company We have an energy company joining us for the FIRST time. Petromanas has been in Albania since 2010 and its play is prospective enough that Shell has bought in for a big chunk, for a look at that deal and well as development of what petromanas has called drilling deep expensive difficult wells...we are joined by Glen McNamarra the ceo at Petromanas, Glenn thanks so much for coming on the show."

    "So we know about Bankers Petroleum, how are you different? Just explain how what you are doing in Albania is any different than Bankers [petroleum]."

    Petromanas CEO

    Sure will, in some respects our business couldn't be more different than Bankers...they (Bankers) are refurbishing older heavy oilfields and we are exploring for deep light oil and much bigger targets {than Bankers Petroleum}.

    Shell apparently left Albania years ago they didn't manage to find in the way of oil or produce much but they are now buying into your properties and they are putting up something like $100MM could you tell us how that deal works?

    Petromanas CEO

    We first I'll say that we're exploring the large targets here, we've got an excellent onshore land base, were drilling prospects that are in the range of 200MM, 150MM barrels, these are world class, these are bigger than what a company our size can handle, so we had gone to a farm out process and engaged shell and they were quite interested and they pursued our data room, and they have offered a bid that we think is very fair, and we are both very pleased. We are very happy to have SHELL on board.

    BNN Interviewer Andy

    So I see this figure, $100MM is that fixed, or how much is shell actually paying you...at this stage?

    Petromanas CEO

    "Well what the deal is, that we have a 'carry' on 3 wells."

    And the carry is a carry of our share of upto $50MM for the first 2 wells, $42.5MM on a 3rd well, and a 'carry' on a $40MM seismic program. So they [Shell] are carrying our share of those activities."

    BNN Interviewer Andy

    'Oh I see you dont have to put up money for the moment'

    Petromanas CEO

    "That is exactly right, we are spending about a hundred million gross. Last year and this year net to Petromanas last year was about $14 MM we are looking at about the same this year, about $13-14MM."

    BNN Interviewer Andy

    "Now Shell is also exploring in italy across the Adriatic and they think the geology might be continuous."

    Petromanas CEO

    "Exactly. Shell is involved in 2 big fields there the Val D'gri and the Tempa Rossa they are 500MM BBL and 300MM BBL fields respectively. Val d'gri has been on production for about 14 years producing in excess of 80,000 bbl/day from about 30 wells. The wells can be very prolific, Tempa Rossa is coming on to about 50,000 bblday capacity by about 2016 and Shell is a partner in both of those with Eni and Total."

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    BNN Interviewer Andy

    Well your wells in Albania are not cheap, i believe they are going to cost about $50MM each to drill because you have to go through this "Flysch" (name of rock layer) shale formation?

    Petromanas CEO

    "Thats correct the well cost is in the $50 {Million} range, depending on the location and the lease that we need to build.

    But it {DRILLING COST} is mostly due to the depth.

    We are drilling these wells to 5500m to 6000m. You are correct we do have a {flakey flysch} shale that can be unstable, but it is the SEAL for the RESERVOIR. It's a "regional seal" and its a necessary "zone" we think we have learned alot from the first well and should be able to drill through that without any issues."

    BNN Interviewer Andy

    Give us an idea of when you would hope to see some production or what kind of production would you be looking at.

    Petromanas CEO

    "So we've drilled our first well, [Shpirag-2] it completed last summer, we tested it through the fall, we announced the discovery with the [Albanian] government in December 2013. So we now have a light oil discovery on this structure. We are drilling on a second well now which is about 18Km south of the first one. There is a chance this is all one structure.

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    Our seismic has been very encouraging we just finished a program there, and the second well should be down {completed drilling} in the summer. These discoveries need to be appraised, the time line could be 2-3 years to finish the appraisal. Ahh but there is an opportunity to do early production and extended tests on these wells and we are evaluating that on this first discovery [Shpirag-2].

    BNN Interviewer Andy

    "Glen, we'll have to leave it there...thanks so much for joining us. Fascinating story.

    Petromanas CEO

    Thank you Andy appreciation you having us on, thank you very much.

    GM CEO of Petromanas Energy joined us from Calgary.

    {END of Interview}

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    ----------------------------------------------------------------------------

    TThings to consider:

    (march 11, 2014) news release

    New to oil plays? Click on the Index below, then 'drilling fundamentals' for an intro into terminology of oil and gas drilling.

    (Blog from Week of Feb 26)

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    [Image added 2/26/2014]

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    [Previous blog post]

    In the arena of Exploration, it doesn't get more exciting than virgin geology where entire new basins or oilfields could be born within a short time. Petromanas has more irons in the fire than just ALBANIA, but for this quick update we will focus only on the upside of the APPRAISAL wells being drilled in ALBANIA.

    Now for starters, this is highly speculative, meaning its risky as far as investments go, but it has an appeal that you will soon understand. The people and project in this company are Top Notch, they had to be, in 2013 they attracted a former US General Wesley Clark to the Director team.

    The project got even more attractive when SHELL Oil took an interest in it, and signed on for a 75% Working Interest in first Blocks 2-3 in ALBANIA.

    There is alot of work to be done, but at $0.15 a share most people can afford a chance on this project. And if the share price is too rich for your blood, the next product might interest you...called a Warrant PMI.WT (which could expire worthless by 02/2015 if the management cannot pull off a triple in value from its current $0.15 to $0.45 by then).

    The 'Warrants' are fancy ways of playing the PMI shares like option without tying up as much cash. They bear much more reward and much more risk, but the price is 1/10th the cost so if you like the timeline and want the option to not miss out on the upside you can own a Warrant (rights) that gives the Option to buy shares at $0.45 or above.

    Even if you don't get the timing right sometimes (although its rare) you can get a nice pop up on warrants pricing upon positive news releases from Oil drilling operations on Exploratory wells. Do your homework though, these look attractive but often investors don't get to exercise them and they are a fair priced way to raise funds by companies and reward early believers in an exploration play.

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    Sector: Energy | Sub-Sector: Oil & Gas E&P

    Alternate Symbol(s): V.PMI.WT | PENYF

    Warrant Symbol - PMI.WT

    Number Trading - 100 million

    Expiration Date - Feb. 23, 2015

    Cusip - 71672A 11 3

    Exercise Price - .45

    USA OTCBB STOCK PENYF

    CDN WARRANT PMI.WT

    There are $1.5 Million dollars of $0.015 warrants in the market right now. They only have value if PMI shares are trading at or above $0.45 so they are a speculative option for believers in the company and its ability to achieve results north of 45 cents by the expiry date of the warrants which is Feb 23, 2015.

    For someone else to

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    UPDATE:(click to enlarge)

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    www.bnn.ca/Shows/Commodities.aspx

    The Drilling of Blocks 2-3 are big impact plays, that could be company makers if they not only make a discovery but are commercial wells that will flow for years.

    Shpirag and Molishti are close to being tested and will help confirm future plans on these initial Blocks. So far the industry is viewing these as very promising plays.

    By Q4 we should have results released, so if you plan on getting in, keep that timeline in mind.

    25% Interest means sharing 25% of all costs and if successful earning 25% of the revenue for production if its a commercial well.

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    [ Speculative ]

    (CASH FLOW)

    (INCOME)

    (Bal Sheet)

    Business Description: Petromanas Energy, Inc. is an exploration stage company. It acquires, explores and develops oil and gas properties in Albania, France and Australia.

    Address: 734-7th Avenue SW, Suite 1720, Calgary, AB,

    CAN, T2P 3P8

    Telephone: +1 403 457-4400

    Website: www.petromanas.com

    75% Interest means sharing 75% of all costs and if successful earning 75% of the revenue for production if its a commercial well.

    These are DEEP, Expensive wells that could flow Oil at super high rates for years.

    Disclosure: I am long RDS.A, PENYF.

    Jan 13 7:22 PM | Link | 9 Comments
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