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)

The Sunday Post share watch.


With the recent sharp falls in share prices there are now a few with a price around 1p. One that looks interesting is Irvine Energy, which is developing oil and gas projects in the United States, particularly in Oklahoma and Kansas which are reckoned to be particularly prolific oil and gas-producing areas. the company faced some production hiccups but its current drilling programme if fully financed at 1.25p Irvine Energy shares are an interesting speculative buy.

A lot of these reporters have just left school.

Don't get too excited.

What a prat!!!

Meaning do your own research! - yes that was my first thought.

poo for poo. out of order there mate

Had a look at the price of gas recently?

You are too dismissive, as I said do your own research.

But here is some help.



Bet you never saw that in a newspaper report alongside those nice items.

Simply they need to produce nearly double to stand still from July 2008. They can of course but it wont help the sp till the above chart turns again.

I'm sure it will, one day.

Till then I am an ex holder.

Good luck with you investment.

Shame about the sp on this one....lost a packet here !....back into Nighthawk today (not for the quick buck)....not enough cash to come back in here as well !.

rf - you face the same problem at Nighthawk imo.

World will struggle to meet oil demand
By Carola Hoyos and Javier Blas in London

Published: October 28 2008 23:32 | Last updated: October 28 2008 23:32

Output from the worlds oilfields is declining faster than previously thought, the first authoritative public study of the biggest fields shows.

Without extra investment to raise production, the natural annual rate of output decline is 9.1 per cent, the International Energy Agency says in its annual report, the World Energy Outlook, a draft of which has been obtained by the Financial Times.

The findings suggest the world will struggle to produce enough oil to make up for steep declines in existing fields, such as those in the North Sea, Russia and Alaska, and meet long-term demand. The effort will become even more acute as prices fall and investment decisions are delayed.

future gas prices look to be moving up.latest deals around the world in CBM and gas pipe can only suggest growing demand

new artilce, click HERE

Thursday, October 30, 2008

Irvine Energy - Streamlined and refocused
by Stuart Watson


Its been a mixed six months or so since Proactive last looked at Irvine Energy. The AIM-quoted oil explorer has three projects, two based in Kansas and one in Oklahoma. As well as conventional oil and gas targets, its also hunting for shale gas and coal bed methane.


Change at the top


In early September, Aaron Close left his position as CEO of Irvine to pursue other opportunities. Doug Manner, who has been with Irvine since early

2007, took over Closes role moving from Non-Executive Chairman to Executive Chairman.
Manner has held many industry positions, most notably as CEO of Westside Energy which was an American Stock Exchange company that produced 6 million cubic feet of gas per day from the Barnett Shale in Texas. Sean Austin, a colleague of Manners at Westside, has also joined Irvine as Chief Financial Officer following Westsides merger with Crusader Energy earlier this year.


Its early days for the new management team but the emphasis for the moment appears to be on increasing near-term production and disposing of non-core areas across Irvines various leases.


The companys results for the six months to June showed sales of just 0.2m and no doubt shareholders will be hoping for substantially higher numbers for the second half of the year. As management is yet to flesh out the full detail of its plans, a recent note from Hardman Research contained no estimates for 2008 or 2009. But the analysts at Hardman said they were reassured with what they heard when speaking with management.


Funding is obviously top of most investors checklists at the moment. The cash for Irvines drilling plans over the next few years will come from a $50m development loan provided by GasRock Capital. This was concluded in May of this year at which time an initial drawdown of $6.1m was made, primarily to cover costs already incurred.


Going forward some equity funding may still be required though as the debt facility doesnt cover 3D seismic. Much of Irvines acreage hasnt been subject to 3D seismic in the past and its likely to be instrumental in unearthing new prospects. Irvine raised 1.1m via a small placing in July to cover its latest costs in this respect.


So whats been happening across the three project areas? Lets look at each in turn.


Kansas


The Kansas Project covering a net 112,000 acres is the largest in Irvines portfolio. 3D seismic has been shot over three areas where Irvine has a 75% working interest, called Rock, Ayres and Udal. To date, four wells have been drilled at Rock and one at Ayres. Two of the Rock wells were dry but the remaining three wells drilled in Kansas have all discovered hydrocarbons.
Although the first well, Rock 1-5, was initially expected to produce between 35 and 100 barrels of oil per day it is currently producing just 6. Irvine is making adjustments to the submersible pump to increase the flow rate.


There is no news yet about the flow rates for the other two successful wells, Rock 1-32 and Ayres 1-20, although the latter has been fracture stimulated and Irvine hopes to report on this in its next operational update.


Further wells are likely to follow in Kansas and this project area also hosts the Chattanooga Shale, which is an extension of the proven Woodford Shale in Arkansas and Oklahoma. Initial drilling to assess the size of this resource and its viability for commercial production had been expected by the end of 2008 but it remains to be seen what plans the new management team have for this prospect.


Niobrara


The Niobrara project consists about 5,000 acres in north-west Kansas. Here Irvine has 18 wells producing small quantities of gas and a 50% working interest. However, an extensive drilling programme of 40 new wells appears to have been delayed due to issues with gas compression and a pipeline leak that lowered production from the initial wells over the summer months. The problems appear to have been fixed now though and Irvine expects production from Niobrara to pick up again in the near future.


Oklahoma


Irvines 50,000 acre Oklahoma project appears to have had a little more luck. It already has 20 wells producing some gas while Priegel 3-10 is producing 12 barrels of oil per day from the lowest position on the Booch sandstone channel. Irvine reckons this indicates that the entire channel is charged with oil from the base. There are plans for 33 wells costing around $300,000 each to tap an estimated 1 million gross barrels of recoverable oil, although forced pooling could result in Irvines working interest being reduced to 25%.


The Oklahoma project also contains the Woodford and Caney Shale which were estimated earlier this year to hold a contingent resource of 238 billion cubic feet of gas by Netherland, Sewell & Associates. One horizontal and one vertical well have been drilled on the Woodford Shale since then. This should begin the process of converting this resource into a reserve, which can then be added to the 10.25 billion cubic feet of P1-P3 reserves already identified in Kansas and Niobrara. The horizontal Woodford well, Jones 1-5H, has had a successful frac treatment and flow rates should be available in a few weeks.


Finally, four targets have been identified in the Hartshorne coal bed methane prospect, which is also part of the Oklahoma project. Drilling personnel have been identified and the approval process is underway so we should see some drillbit action here in the relatively near future.
Irvines shareholders are a little bit in limbo at the moment while the new management team reassesses its project plans. But it has a wide range of attractive prospects and access to a decent slab of funding.

Both these bode well for the future.

cbm/gas lot of action/deals lately. big money.that could be a big future for us and ive!!!

other companies seem to have been having success in the woodford shale areas and ours seems to be progressing niceley......

From Penn Virginia Corporation.......

In the third quarter of 2008, we participated in three (0.5 net) non-operated horizontal Woodford Shale wells in the Arkoma Basin, producing at initial rates of approximately 3.6, 4.6 and 2.7 MMcfe per day (working interests of 11, 31 and 13 percent, respectively). Based on the encouraging results of the five Woodford Shale wells in which we have participated to date, we plan to continue to participate in the drilling of additional wells in the near term in the Arkoma Basin. Our internally generated Woodford Shale prospect in the Anadarko Basin will be tested during the fourth quarter of 2008.

and from our side as we know.........

The company is now beginning to test the potential of the shale in that it has completed the multistage fracture of its first horizontal Woodford shale well Jones 1-5H in Oklahoma. It is understood that the fracs took sand and fluid very well. Two stages (the higher stress zones) took frac fluid but not sand. Practically speaking, some of the better shale gas wells turn out to be the ones that will not take sand, only fluid. The engineers believe that good well penetration was achieved on all of the frac stages and at the end of the day this first horizontal test well is encouraging.

A penny for your thoughts........?

Operational update out this morning.

It looks bad. Very disappointing,,, cost overuns, more cash needed etc...not much good news in terms of output...now we know why the sp has not performed well and it might take a hammering today...(imho) sub 1p beckons...

Hi skyhigh, yes sub one penny however it would help if it could stay above should any placing be needed.

Price of gas does not help as I previously said.

There are far better small companies around than this.

This company only gets significance thr' the ramping on these and other boards.

If and I say If some of these tiddlers are going to the wall then IVE will be one of the first there.

All IMO

Not worth selling as my small batch of shares are not worth much now..
So will hang on and hope for the best..

Wonderful share tip this one.....lucky for me : I bailed out.....for share tips the best thing is to follow some of the bloggers on here......they will not get it right everytime but there is a heck of a lot of experience and good comments on MoneyAM !, tiddlers have taken a beating this year.....for the oil and gas : best to buy those producing or are very near production !.