Bought into IVE this morning, purely on speculation only... small time though. Don't know much about them though ! in for a penny in for a pound and all that.
Got out of TPG (dead loss and falling away fast)

?

this share will peak & trough its way to around 7/8 p near future then upward to 15p ish to eventual 40p ish - i will hang in and add at correct prices - good luck all

The updated Projects page makes for a good read:

http://www.irvineenergy.com/projects/index.htm

1st horizontal well in Oklahoma due to be spudded this month.

anyone got L2 on this? are the 3.67p trades buys or sells ? and if they are sells why hasn't the SP gone down?
Alex

robertalexander
Just done a dummy 3.65 to sell and 3.67 to buy. So I would suggest that all the .67s are buys and some of the .65s could be

thanks Driver

my brokers are MMs so unable to do a dummy trade and their bid/offer showed as 3.65/3.70.

Alex

NEWS out bought more its flying!!

Looking Good.

Irvine Energy Operations Update in Kansas

http://moneyam.uk-wire.com/cgi-bin/articles/200805130804122812U.html

Yep, looking good...nearly bought some more b4 the RNS... wish I had...
I bought some more EDD so should still see some profits!

Irvine Energy plc / Index: AIM / Epic: IVE / Sector: Exploration & Production

13th May 2008

Irvine Energy Operations Update in Kansas, Oklahoma and Niobrara

Irvine Energy plc, the AIM listed oil and gas exploration and production company, provides an update of its continued progress and development at its Kansas, Oklahoma and Niobrara project areas.

Overview

Rapid progress being made across all three areas

First Kansas oil well encounters oil in Arbuckle formation with live oil shows and confirmed oil saturation - second well commenced

First Woodford vertical shale tests gas to surface at high pressure - pipeline is currently being laid to connect to main gas sales line

First horizontal Woodford shale well also scheduled to commence drilling in late May

Evaluation of the Hartshorne coal bed methane continues with targets identified

A further 8 wells put on stream at Niobrara raising number to 18 wells available to sales - 23 targeted for early summer




Irvine Managing Director Aaron Close said, 'We are making rapid progress across the portfolio, both in the raising of production levels and the confirmation of oil and gas resources which we aim to convert into the reserve categories in the near future. The drill programme at Kansas is developing with a second well scheduled to commence and we continue to ramp up production levels as we target over 60 producing wells at Niobrara by end of 2009.. Looking towards the future, with the increase in production coupled with the current high oil prices, this is an incredibly exciting period for Irvine as we increase the pace of our transformation into an established oil and gas producer.'



Kansas Project

The Rock 1-5 commenced drilling on 29 April, 2008 and was successfully drilled to the Arbuckle formation at 2,974 feet. Live oil shows were seen in the cuttings and petrophysical analysis confirmed oil saturation. Production casing was run on 7 May, 2008 and the well is currently being prepared for completion. The rig was then moved to the Rock 1-31 location on 12 May for a further Arbuckle oil test on a separate structure. The Rock 1-31 will be the second well tested in a continuous four well drilling programme on the Rock 3-D.

Acquisition of data from the second phase of the Ayres 3D shoot has been completed and is now being processed. Results from the interpretation of the first phase are expected in June with locations planned soon afterward. The Udal 3D shoot, which is the largest of the initial three 3D surveys, is currently in progress and acquisition of data should also be completed by the end of June 2008.


Oklahoma Project

Irvine's first Woodford shale well is scheduled to be fracture stimulated by the end of May 2008. The Farrow 1-24 is a vertical well that was perforated and acidized on 21 April and responded with gas to surface and a shut-in surface pressure of 550 pound-force per square inch gauge ('psig'). A pipeline is currently being laid to connect this well to the main gas sales line. It is expected that the fracture stimulation treatment should significantly enhance production rates from this well and success from this well will begin the process of moving Irvine's resource potential into the reserve categories.

In addition, drilling at Irvine's first horizontal Woodford shale well is also scheduled to commence by the end of May. The Jones 1-5H will target the Woodford shale at a vertical depth of 3,700 feet with an initial pilot hole to obtain open hole logs. The well will then be drilled laterally through the Woodford shale with a total horizontal length of 2,100 feet. The horizontal lateral will be completed with a large multi-stage slick water fracture treatment. Schlumberger Well Services is being consulted on the completion design.

Evaluation of the Hartshorne coal bed methane resource continues and mapping of the coal is complete. Drilling locations have been identified and are currently being planned in Hughes County, Oklahoma. The Hartshorne coal is laterally pervasive and is encountered at approximately 2,200 feet. Development of the Hartshorne will most likely be with horizontal wells commencing in H2 2008. Netherland Sewell and Associates are in the process of evaluating the resource potential in the Hartshorne coal and quantifying the volume of natural gas net to Irvine.


Niobrara Project

The Niobrara Project came on line on April 28, 2008 with 10 wells going to sales and a further eight wells are now online to commence production. Due to this recent increase in sales line pressure, the current leased compressor is no longer adequate. Irvine will replace the compressor in the coming weeks to allow all 18 wells currently capable of producing to go to sales. Five additional wells are in the process of being perforated and fracture stimulated over the next few weeks and will be brought on line in early summer, bringing the total number of producing wells to 23. Current planning is in place for a further 40 new wells to be drilled in the near future.

if all this good news turns into dollars,skyhigh i think you might be right-"in for pennies out for pounds"

lets hope so - continue to have high expectation for this one!! i mentioned 40p achieveable longer term stick by it maybe higher

Bought a few more,going up!!

good & yep - rubbing my hands right now!!

Decided yesterday to join you lot..."what's hot" have been tipping this one, really got momentum !

Welcome aboard! onwards and upwards with this one..should be an interesting few months coming up !

everything pointing positive

Yesterdays report looks full of promise and potential with a good portfolio of opportunities. Although there will always be risks the potential rewards with IVE are high and therefore added late today.

andysmith
Hi andy back on the same share IVE must be good.