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Dann geht es in 7 Meilenstiefeln voran - bin sehr gespannt. Werde das Gefühl nicht los, dass hinter den Kulissen was ganz Großes gezimmert wird. Ein Joint Venture vielleicht - ein Aktientausch mit Tag Oil - egal wie es sollte in den nächsten Wochen was auf den Tisch kommen. Gedeckt ist dieser bereits und wir möchten das Menu nicht kalt serviert bekommen :-)
Habe mir auch mal eine Anfangsposition Tag Oil gegönnt!
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/18/14 -- East West Petroleum Corp. (TSX VENTURE: EW) (the "Company" or "East West") is pleased to provide the following operational update on its operations in the Taranaki Basin of New Zealand and in Romania. The Company's joint venture partner, TAG Oil Ltd. ("TAG"), is the operator of all licenses in New Zealand, while in Romania the Company's partner Naftna Industrija Srbije ("NIS") is the operator of all concessions.
Update on production from Cheal E-site, New Zealand
The Company is pleased to report that to Feb. 15, 2014 the gross production from the Cheal E-site totaled over 50,000 boe. The Cheal-E1 well is currently producing at a rate of over 500 boepd (87% oil) through a 17/64" choke. The Cheal-E4 has been on test production since January 1, 2014, with an average production rate of over 280 boepd (83% oil). The Cheal-E4 well will soon be placed on permanent production following a temporary shut-in period to allow for temperature and pressure analysis while other E-site wells are flow tested, starting with Cheal-E5. The initial production testing data is being used to determine the long-term production scheme for the site.
Under the joint operating agreement with TAG, East West paid 100% of the first C$5 million in drilling costs on the Cheal E site and is entitled to receive 100% of the first C$5 million in revenue, while paying 100% of the costs to produce that revenue, after which all revenue and costs will be shared 70:30 between TAG and EW. To date, over 23,000 barrels of oil have been sold at an average price of over US$109/b from which the Company estimates it will receive cash netbacks of over US$80 per barrel. East West expects to have recovered the $5 million in revenue by the end of Q1 2014.
2014 Proposed Capital Budget
The Company also announces that the minimum committed 2014 capital expenditures in New Zealand for East West are expected to total C$10.4 million, which will include the drilling of three wells from the Cheal G-site, one well at Southern Cross, and at least one well from the Cheal E-site. In addition, seismic acquisition and reprocessing is planned for the Taranaki and East Coast permits in 2014. Further wells to the 2014 drilling program are expected to be added following the completion and interpretation of the results of the current drilling program. Capex for the 2014 committed work program and any additional wells will be financed from the Company's existing cash balance and from production from Taranaki Basin permits.
In Romania (15% working interest), seismic acquisition is ongoing on the Tria licence in preparation for spudding the first of three wells in the committed Phase I work program later this year. Seismic acquisition will commence on the Baile Felix, Periam and Biled concessions following the award of contracts for 2D and 3D seismic acquisition on the respective blocks. Under the farm out agreement with NIS, East West will be fully carried through to commerciality which includes all Phase I and Phase II work on the concessions. NIS and the Company will be targeting conventional resources and all work will be done in accordance with local and international regulations and best practices.
Further details on the East West's 2014 planned capex and work program can be found in the Company's corporate presentation available at www.eastwestpetroleum.ca.
About East West Petroleum Corp.
East West Petroleum (http://www.eastwestpetroleum.ca) is a TSX Venture Exchange listed company established in 2010 to invest in international oil & gas opportunities. East West has built a diverse platform of attractive exploration assets covering a gross area of approximately 1.8 million acres. In New Zealand, East West holds an interest in three exploration permits near to existing commercial production in the Taranaki Basin with a nine well drilling campaign, operated by TAG Oil Ltd. (TSX: TAO), is in progress; in December 2013, the Company was awarded one block in the emerging East Coast Basin of New Zealand when covers over 100,000 acres. The Company also interests in four exploration concessions covering 1,000,000 acres in the prolific Pannonian Basin of western Romania with a subsidiary of Russia's GazpromNeft; a joint venture exploration program covering 8,000 gross acres in the San Joaquin Basin of California; an oil-prone exploration block of 100,000 acres in the Assam region of India with the three largest exploration and production Indian firms ONGC, Oil India and GAIL; and a 100% interest in a 500,000 acre exploration block onshore Morocco. The Company has now entered operational phases in Romania, where it will be fully carried by its partner Gazprom-controlled Naftna Industrija Srbije in a seismic and 12-well drilling program which is underway.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: the ability to raise sufficient capital to fund exploration and development; the quantity of and future net revenues from the Company's reserves; oil and natural gas production levels; commodity prices, foreign currency exchange rates and interest rates; capital expenditure programs and other expenditures; supply and demand for oil and natural gas; schedules and timing of certain projects and the Company's strategy for growth; competitive conditions; the Company's future operating and financial results; and treatment under governmental and other regulatory regimes and tax, environmental and other laws.
Prospective Resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. Prospective Resources are further subdivided in accordance with the level of certainty associated with recoverable estimates assuming their discovery and development and may be subclassified based on project maturity. Best estimate resources are considered to be the best estimate of the quantity that will actually be recovered from the accumulation. If probabilistic methods are used, this term is a measure of central tendency of the uncertainty distribution (most likely/mode, P50/median, or arithmetic average/mean). As estimates, there is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources that the estimated reserves or resources will be recovered or produced.
This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Felicity Wolfe Mon, 24 Feb 2014 Webster Drilling Nova-1 Where: Cheal G Operator: TAG Oil Programme: The Nova-1 is expected to complete TAG Oil's Cheal G drilling programme by the end of the week, TAG chief operating officer Drew Cadenhead says. The rig has drilled to 1,700 metres at the Cheal G3 well, which has a target depth of around 2,000 metres. Cadenhead says this should be reached within three days. Once it completes the Cheal G drilling programme, TAG plans to move the rig to its Southern Cross permit, PEP 54876.
Chuanqing rig-43 Where: Cheal C Operator: TAG Oil Programme: The Chuanqing rig-43 is stacked at the Cheal-C site and is awaiting the outcome of an Environment Court appeal of TAG Oil's Heatseeker drilling consents. The rig's drill crews have been laid off due to the uncertain timeframes around the appeal process and when drilling can restart. Heatseeker is the second of three deep gas wells the firm plans in Taranaki. Drilling of Cardiff-3 finished in late January with all three deep target zones penetrated. The well has been fully cased to a total depth of 4,863 metres, with packer and tubing also set inside the casing.
The scheduled arrival in New Zealand waters during late March of the jack-up Ensco Rig 107 will complete the four-strong drilling contingent currently in the country.
The Ensco rig will join the deepwater drillship Noble Bob Douglas, which has virtually finished drilling the Caravel-1 ?wildcat? well off Otago, the semi-submersible rig Kan Tan IV, currently drilling the Pateke-4H ?infill? well off Taranaki, and the Archer Emerald modular offshore drilling unit that is still on the offshore Taranaki Maui A platform.
The jack-up rig is being loaded onto the heavy lift vessel, the Talisman, in Singapore and, on arrival in New Zealand waters, is due to head to the sheltered Admiralty Bay in the Marlborough Sounds for offloading and then towing by its support vessels to offshore Taranaki.
Once off Taranaki it is due to start an extended development campaign for Maari oil field operator Austrian giant OMV and its partners lasting at least nine months. Afterwards other joint ventures may also utilise the rig for their exploration, and possibly appraisal, wells off Taranaki and perhaps in other geological basins.
The 107 is no stranger to this country, having spent about two years in New Zealand waters for various joint ventures in various basins from early 2008 to late 2010.
While there is no word yet regarding the results of the Archer Emerald programme, or whether Caravel-1 has struck any worthwhile hydrocarbons, Pateke-4H has had oil shows in the Kapuni Formation F sands where an oil-bearing reservoir is likely to have been encountered.
Meanwhile, onshore activity continues in Taranaki and elsewhere ? from preliminary land surveying for future seismic surveys to more development drilling.
Todd Energy?s new $42 million Bentec Euro Rig 450t started its first well, Mangahewa-16 at the Mangahewa D wellsite on February 11 and is likely to reach the total deviated target depth, of up to 5500 metres, before the end of the month.
And the Canadian listed juniors TAG Oil, East West Petroleum and New Zealand Energy Corp continue their respective onshore exploration and development programmes around Taranaki, as does UK-listed Kea Petroleum.
TAG and East West should start their first well near Wharehuia, Southern Cross-1, by the end of the March, while TAG alone should start hydraulic fracturing the more southern nearby Cardiff-3 deep gas well, beginning with the perforation of the K3E sands, the deepest of three potential test zones within the Eocene-aged Kapuni Group Formation, before the end of the month.
As well as now producing light, high-quality oil from nine wells in its onshore Taranaki licences, NZEC is also preparing four further wells for future production.
It has completed workover activities on Waitapu-2 and that well should be starting production, with testing of the resultant hydrocarbon flows, from mid-March. Waitapu is NZEC?s second discovery after its initial Copper Moki find in licence PEP 51150 (Eltham).
NZEC and joint venture partner L&M Energy are continuing investigating ways to bring some virtually abandoned wells, plus others, back to full production in the nearby Tariki, Waihapa, Ngaere (TWN) licences.
They have identified cost saving opportunities at the Waihapa-8 well and are installing a dedicated downhole pump for artificial lift, heating gas at the wellhead and using existing gas lift. Increased production from this well is expected from late March. If successful, this should result in savings of approximately NZ$400,000 per annum.
The TWN partners are also evaluating bringing back production from the Tikorangi Formation at the virtually abandoned Waihapa-1B well. An uphole completion in the shallower Mount Messenger Formation is also possible. Artificial lift facilities are also being installed at the Waihapa-2 well, with production from the Mt Messenger Formation anticipated by April.
In addition, the TWN joint venture has entered into an agreement with an un-named gas marketing ?counterparty? to transport gas along a section of the TWN gas pipeline for four years, with a five-year right of renewal. This is expected to generate between NZ$0.5-2million of revenue per year.
And two senior NZEC executives ? Ian Brown, head of Wellington subsidiary Ian Brown & Associates, and Bruce McIntyre, Canadian company president -- have taken early retirement, though McIntyre will remain on the NZECC board and Brown will act as an advisor.
This cost-cutting exercise is in addition to country manager and industry veteran Chris Bush resigning to be effectively replaced by Petroleum Exploration and Production Association of New Zealand chief executive David Robinson from May.
Finally, Kea Petroleum is making more money, though it still struggles sometimes with Taranaki?s complex geology.
The company saw a huge improvement in revenues for the half-year to November 30, 213, which spiked to £1.2 million (almost NZ$2.4 million) from only £382,000 for the corresponding previous six months. Gross profits climbed to £739,000 from £180,000.
But it says that evaluation of the results of last year?s 3D seismic survey of its Puka discovery, shows both the Puka-1 and 2 wells were drilled on the edge of the channel fairway. Future wells will now aim to drill for better sands in the main channel.
Kea is still interpreting 3D data from the Mercury Prospect in the northern onshore-offshore licence lease PEP 52333 where it still wants to drill later this year, while it wants a work programme extension for its more remote northern onshore-offshore licence PEP 381204 where it drilled the Mauku-1 exploration well.
der Grund für die Kurshalbierung in den letzten 6 Monaten? Auch der Aktienrückkauf konnte das ja nicht aufhalten? Ich lese hier eigentlich nur die Rumänien-News aus anderen Gründen und bin in EW nicht investiert.
Sind die Flow-Rates in Neuseeland schlechter als erwartet?
: Nach unten anteuchen und dann nach oben weg ziehen
das könnte die Strategie sein - aus meiner Sicht gibt es keinen Grund für den Schwächeanfall! Hatte zum Glück 70% in Tag Oil getauscht und bin daher nur leicht betroffen - sofern man etwas Geduld aufbringt sollte EW auch wieder neue Höchstkurse sehen. Jetzt könnte eine Kaufgelegenheit sein.
Im Schatten von Tag Oil und mit den produzierenden Quellen, sollte hier noch eine schöne Kurssteigerung möglich sein! Das Manöver den Kurs vor einem größeren Anstieg nochmal zu kippen könnte gelaufen sein - die Tür ist nun offen für Kursanstieg - imo
* Deutsche Bank Real-Time Indikationen basieren auf Preisen von der Deutschen Bank emittierten Produkten. Diese Produkte versuchen, den jeweiligen Index 1:1 zu tracken.
Die Preisstellung erfolgt börsentäglich zwischen 09:15 und 17:15.