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

Good day up 9.46%

http://www.noreco.com/en/Our-business/Exploration/DK-0111-Luna/

Operational Update
RNS
RNS Number : 8198T
Xtract Energy plc
13 December 2011



13th December 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.



As previously announced by Xtract on 24th November 2011, 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 unfortunately that weather window has not yet occurred. 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 and Xtract understands that there are no other reasons for the delay. Xtract will update the market once it has been advised by Chevron that the well has spudded. 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.



As previously announced by Xtract on 24th November 2011, the Maersk Resolve is currently drilling on contract to Maersk Oil and Gas in Denmark. The Maersk Resolve is currently located approximately 70 km from the Noble Byron Welliver and as such is experiencing similar weather conditions. The Maersk Resolve has been undertaking a series of well stimulation activities and this requires the attendance and connection of a specialist stimulation vessel. Given the recent weather conditions this has impacted and delayed this activity.



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 at the time of the rig release by Maersk. Xtract will update once it has been advised by Noreco that the well has spudded. The Luna drilling program is expected to take approximately one month in duration.



Peter Moir, Chief Executive of Xtract Energy, commented:

"Whilst it is frustrating that the P2-10 well has not yet spudded, "waiting on weather" is a very normal occurance in the North Sea, particularly during winter months. I am confident that both processes are on track, and look forward to updating the market in due course."



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.

Thinking of getting into xtr... will do some research...is there any broker's notes, write ups, recommendations on xtr available ?

I've some spare funds free in a couple of days and deciding if to go with XTR, SAC or MONI.

Any advice would be greatly appreciated.

This may be useful skyhigh, there is a lot of info on the company site and latest news.



http://www.xtractenergy.co.uk/news/

Company fundamentals



http://www.iii.co.uk/investment/detail?code=cotn:XTR.L&display=fundamentals&it=le

Keeping my holding long term to see if the Julia Creek shale project gets the go ahead. The company is waiting on a independent report any day soon.

This is why XTR is waiting for a good weather window to tow the rig in position for spud. Just hope not many lives have been lost. A very dangerous operation.


http://www.bbc.co.uk/news/world-europe-16235095

http://www.moneyam.com/action/news/showArticle?id=4278590

Noble Byron Welliver on the move, weather must have calmed.

http://www.rigzone.com/data/rig_detail.asp?rig_id=492

http://uk.stoxline.com/q_uk.php?s=xtr

News soon on spudding, up 9%



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Something has leaked for the sudden buying. Rigzone states the rig is drilling,await the news. Good weather friday and saturday, so must be close.

http://www.rigzone.com/data/rig_detail.asp?rig_id=492

Been a long wait, roll on the news.

Looking good

up 13.5%

Strange sell off. Gone from 7% up to -2%

Operational Update
RNS
RNS Number : 3612V
Xtract Energy plc
11 January 2012



11th January 2012



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



Xtract has recently been advised by Chevron that the Noble Byron Welliver is now on site at the P2-10 drilling location and the well has spudded. The rig move was delayed due to the weather conditions that prevailed throughout December 2011. The well program is expected to take up to 100 days.



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.



Denmark



As previously announced by Xtract, the Maersk Resolve is currently drilling on contract to Maersk Oil and Gas in Denmark. The Maersk Resolve has experienced similar weather conditions as the Byron Welliver over the last few weeks which has impacted their well activities. Noreco has advised that the revised release date by Maersk Oil and Gas of the Maersk Resolve drilling rig is 26th January 2012.



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 at the time of the rig release by Maersk. Xtract will provide a further update once it has been advised by Noreco that the well has spudded. The Luna drilling program is expected to take approximately one month in duration.



Peter Moir, Chief Executive of Xtract Energy, commented:

"Despite the bad weather conditions in the North Sea over the last few weeks it is pleasing to know that the Noble Byron Welliver is now safely jacked up at the P2-10 well location and that drilling operations have commenced. We look forward to updating shareholders on progress in due course."



Qualified Person



In accordance with AIM Guidelines, Peter Moir, B.Sc. Civil Engineering, M.Eng. Petroleum Engineering, UK Chartered Engineer 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.