Xtract Energy - looking for oil in shale. Feasible and cost effective? Anyone in these at present?

1:16 pm by Sergei Balashov

http://www.proactiveinvestors.co.uk/companies/news/34549/wednesday



Investors following Niche noted that another company with oil and gas assets in Turkey, Xtract Energy (LON:XTR), has shot up from 1.25 pence to nearly 2 pence over the past few days.

dreamcatcher
re - Text book tree shake

Do not kid yourself, anything with large rise on a week or so, has its retracement days, and now is still going on.

Everyone has its own strategies naturally but nowdays with a market so volatile and economy in such a disarray, any decent profit one has to take it, there will be more oportunities to buy it cheaper on the very near future.

Everything I said yesterday is coming into reality now, do not forget that those that wanted to get in at higher prices and now buying so can bounce back a bit but the trend is now down short term, till makes full RETRACEMENT, the best is 67.8% and could bounce back after 50%.


Good luck as you said (kept mine ) I most likely will buy again so look for this space if you think like many of my followers my "TIMING" is pretty good. ( kidding )

Niche ( NGP ) is doing well again today, bought some as the volume was rising on the 7th @ 2.475p but it was down the next day, but now rising with volume so looks right, but is also very volatile so soon will be right for profit taking at this rate.

Good advice mm, Very difficult for me when I work to trade them. Did not aim to say you had done the wrong thing. I would sell them and news would come through while at work and not get back in. Lets hope this becomes a very good share to have.
Good luck mm.

Put back yesterdays drop, steady buying.

holding the 11% rise

Xtract Energy plc - Drawdown on Equity Line RNS
RNS Number : 2987R
Xtract Energy plc
02 November 2011



XTRACT ENERGY PLC



("Xtract" or the "Company")



Drawdown on Equity Line



Xtract Energy announces that it has drawn down 300,000 (before expenses) on its Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd ("Yorkville"). This draw down has been undertaken at a price of 1.7p per share and will result in the issue of 17,647,059 ordinary shares of 0.1p each in the Company (the "SEDA Ordinary Shares") to Yorkville. This funding will be used as future working capital for the Company.



Application will be made for the New Ordinary Shares to be admitted to AIM and dealings are expected to commence on 7 November 2011. The New Ordinary Shares will rank pari passu with the Company's existing issued ordinary shares.



Peter Moir, Chief Executive Officer, commented:

"This draw down has been made at a 36 per cent. premium to the placing price of early September. It is encouraging that investors realise the potential future growth in the Company."



For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the Company notifies the market that, following the issue of the 17,647,059 Ordinary Shares the total Ordinary Shares in the Company in issue will be 1,532,857,428. The Company does not hold any Ordinary Shares in Treasury.



The above figure of 1,532,857,428 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

ready to move higher after the retracement, as level 2 is improving

There was no chance of buying above NMS 100K online before it moved up, though there was 2 MMs at offer 1.75p.

I had to buy in two lots and trough the brokers

Marrocan Oil shale

"Oil-shale deposits have been identified at ten localities in Morocco, the most important of which are Upper Cretaceous marinites, not unlike those of Egypt, Israel, and Jordan. The two deposits that have been explored most extensively are the Timahdit and the Tarfaya deposits; about 69,000 analyses have been made of samples from 157 boreholes totaling 34,632 m in length and from 800 m of mine workings.

The Timahdit deposit, located about 250 km southeast of Rabat, underlies an area about 70 km long and 4 to10 km wide within a northeast-trending syncline. The thickness of the oil shale ranges from 80 to 170 m. The moisture content ranges from 6 to 11 percent, and the sulfur content averages 2 percent. Total oil-shale reserves are estimated at 18 billion tons within an area of 196 km2; oil yields range from 20 to 100 l/t and average 70 l/t.

The Tarfaya deposit is located in the southwesternmost part of Morocco, near the border with Western Sahara. The oil shale averages 22 m in thickness and its grade averages 62 l/t. The total oil-shale resource is estimated at 86 billion tons within a 2,000-km2 area. The moisture content of the Tarfaya oil shale averages 20 percent and the sulfur content averages about 2 percent.

Phosphate rock and uranium are also associated with the Cretaceous marinites. One drill core (location uncertain) revealed a maximum P2O5 content of about 17 percent and U308 concentrations of as much as about 150 ppm.

In the 1980s several energy companies from North America and Europe conducted exploratory drilling and experimental mining and processing of Moroccan oil shale, but no shale oil was produced (Bouchta, 1984; Office National de Recherches et D'exploitation Petrolieres, 1983?)."

Source http://geology.com/usgs/oil-shale/morocco-oil-shale.shtml

strong start this morning

only 1 MM left at 1.85p offer 2 at bid 1.80p

a few 250K or around this number on the ticker

it looks like punters could be moving out of TOM and into this stock, also with shale oil

now 1.90 / 195p +0.175p

At this rate is moving into a BREAKOUT soon as the volume is growing fast and almost all was during the last hour

spread 1.95 / 2p +0.225p

Holding above the 2p for some time now

level 2 of 4 v 1
the only one at offer must have a seller, there is a large sell from time to time giving 2.01p for the sell
buyers paying 2.024p

on a very narrow spread 2 / 2.03p

Good posts machoman, good rise today.

       BREAKOUT

2.10 / 2.20p +0.16p

Close to intraday breakout yesterday with volume today has gone through also with volume

Nice delayed 6,000000 buy someone has confidence.


DateTimeTrade PrcVolumeBuy/SellBidAskValue (approx)
9-Nov-1108:12:102.006,000,000Buy* 1.801.90120.00kTrade Type:
Overnight trade

11-Nov-1116:28:251.8214,267Sell* 1.801.90259.66Trade Type:

11-Nov-1116:28:121.82100,000Sell* 1.801.851,820Trade Type:
Bargain Conditions apply

11-Nov-1116:22:261.82200,000Sell* 1.801.853,640Trade Type:

11-Nov-1116:20:201.82177,712Sell* 1.801.853,234Trade Type:

11-Nov-1116:09:121.82200,000Sell* 1.801.853,640Trade Type:

11-Nov-1116:04:511.82250,000Sell* 1.801.854,550Trade Type:

11-Nov-1115:41:141.84100,000Buy* 1.801.851,840Trade Type:

11-Nov-1115:40:191.8475,859Buy* 1.801.851,396Trade Type:

11-Nov-1115:33:401.82111,967Sell* 1.801.852,038Trade Type:

11-Nov-1115:19:151.8450,000Buy* 1.801.85920.00Trade Type:

11-Nov-1115:17:541.844,755Buy* 1.801.8587.49Trade Type:

11-Nov-1115:13:511.8298,008Sell* 1.801.851,784Trade Type:

must be near spud news, 11% up.

Thursday 24 November, 2011Xtract Energy plc
Operational Update
RNS Number : 6803S
Xtract Energy plc
24 November 2011



24th November 2011



AIM: XTR



XTRACT ENERGY PLC

("Xtract" or the "Company")



Operational Update



Xtract Energy PLC is pleased to announce the following operational update ahead of drilling in the Netherlands and Denmark.



Netherlands



As previously announced Chevron intends to drill the P2-10 well on the P2 block using the 'Noble Byron Welliver' jack up drilling rig. The P2-10 appraisal well targets an existing gas discovery on the P2 block and one of the main objectives is to evaluate commercial hydrocarbon flow rates from an extended reach horizontal well within the Rotliegendes sandstone reservoir. Xtract has an overriding royalty arrangement of up to 5 per cent of sales value from Chevron and TAQA's share of gas delivered into the Dutch National Transmission System and condensate delivered onshore.



Chevron have advised that the Noble Byron Welliver has completed its current work program in the northern offshore sector of the Dutch North Sea waters and is now being prepared for towing to the P2-10 drilling location. The rig move requires a suitable weather window to undertake the tow and the exact date for the move to location and subsequent positioning for drilling operations has not been confirmed. Chevron would like to complete the rig move as soon as conditions allow. Based on the available information, it is anticipated that the P2-10 appraisal well will be spud around the start of December 2011. The well program is expected to take up to 100 days.



Denmark



As previously announced, Noreco intends to drill the Luna well on the 01/11 license using the Maersk Resolve jack up drilling rig. The Luna well will be drilled to a depth of 2,250 metres with a reservoir sandstone thickness prognosis of ca. 90m. The Luna prospect is targeting between 35mmbbls - 153mmbbls net resources to Xtract.



The Luna prospect is located in a small half graben with the pinch out edge to the south east of the structure. The Rotliegendes reservoir is thought to have a high probability of being present at this location based on the seismic interpretation. Uncertainty still exists however on which seismic event represents the top reservoir and where the pinch out occurs. In addition to the uncertainty on the pinch out position, there is a possibility that the Rotliegendes does not, in fact, pinch out but continues up dip into Lead A. It is therefore possible that Luna and Lead A are connected and represent one feature. The current well location which targets the Luna prospect was picked in order to maximize the information gathered by the well and is designed to address this uncertainty. The Luna well intends to test the overall Rotliegendes play concept.



A full description of the prospectivity of the Danish licenses 1/11 and 2/05 can be found within the Xtract Energy plc AIM Admission Document dated 26th August 2011 which can be located on the Xtract website www.xtractenergy.co.uk.. A copy of the presentation given to shareholders at the General Meeting of 12th September 2011 can also be located on the Xtract website.



The Maersk Resolve is currently drilling on contract to Maersk Oil and Gas in Denmark a short mobilisation distance from the Luna prospect location. Noreco has advised that the Maersk Resolve is now anticipated to be released by Maersk Oil & Gas on 28th December 2011. The rig move will require a suitable weather window to undertake the short tow to the Luna location and subsequent positioning for drilling operations. The move is therefore dependent on weather conditions prevailing during the later part of December. Based on the available information it is anticipated that the Luna exploration well will spud on 30th December 2011. The Luna drilling program is expected to take approximately one month in duration.



Qualified Person



In accordance with AIM Guidelines, Peter Moir, B.Sc. Civil Engineering, M.Eng. Petroleum Engineering, UK Chartered Engineer, President of Elko Energy Inc. and CEO of Xtract Energy plc is the qualified person as defined in the Guidance Notes for Mining, Oil and Gas Companies, February 2010, of the London Stock Exchange, that has reviewed the technical information contained in this press release. Mr Moir has more than 30 years experience in technical, operational and commercial aspects of the E&P business.

Xtract Energy to kick off Dutch drilling
By Fiona Bond | Thu, 24/11/2011 - 10:38

Xtract Energy (XTR) expects drilling operations at the P2-10 appraisal well in the Netherlands to kick off at the start of next month, it confirmed on Thursday.

In an operations update, the AIM-listed company said Chevron has advised that the drilling rig has completed its current work programme in the northern offshore sector of the Dutch North Sea waters and is now being prepared for towing to the P2-10 drilling location.

The well will target an existing gas discovery on the P2 block and one of the main objectives is to evaluate commercial hydrocarbon flow rates from an extended reach horizontal well within the Rotliegendes sandstone reservoir.

Through its wholly-owned subsidiary, Xstract has an overriding royalty arrangement of up to 5% of sales value from Chevron and TAQA's share of gas delivered into the Dutch National Transmission System and condensate delivered onshore.

Xtract also told investors that Elko's Luna exploration well on the Danish 01/11 licence is scheduled to spud on 30 December.

Elko, a wholly-owned subsidiary of Xtract, said the well will be drilled to a total depth of 2,250 metres and intends to test the overall Rotliegendes play concept.

It is targeting between 35 million and 153 million barrels net resources to Xtract.

Good day up 9.46%