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

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%



">

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.

Xtract confirms rig move after bad weather
StockMarketWire.com
Xtract Energy 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.

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.

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."

Xtract spuds Dutch well after weather-related delay
By Sarah Modlock | Wed, 11/01/2012 - 11:53

AIM-listed Xtract Energy (XTR) saw its shares dip on Wednesday as it updated investors on the latest activity at its P2-10 appraisal well in the Netherlands.

Following a delay in moving the rig because of bad weather, Xtract said it had been advised by Chevron (CVX) that the Noble Byron Welliver is now on site at the drilling location and the well has spudded. The programme is expected to take up to 100 days.

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, Xtract 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.

Meanwhile, in Denmark, the Maersk Resolve has experienced similar weather conditions as the Byron Welliver over the last few weeks, which has impacted its well activities. Noreco has advised that the revised release date by Maersk Oil and Gas of the Maersk Resolve drilling rig is 26 January.

"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," commented Xtract’s chief executive Peter Moir

http://www.heraldsun.com.au/business/woodside-revenue-surges-on-back-of-strong-oil-price/story-fn7j19iv-1226248793427Shale News Down Under



Thanks to WCT275 6





Australia set to cash in on shale surge

AUSTRALIA is poised to cash in on booming global prices for shale oil and gas assets, according to new research.

Surging prices for assets in the US are turning companies with deposits elsewhere into targets, experts say, and Australia is likely to be a key beneficiary.

Shale properties owned by Adelaide-based Beach Energy can be bought for less than $170 a hectare, according to Bloomberg and financial services group DNB Markets.

By comparison, shale assets in Texas sold at $10,100 a hectare this year and a holding in Ohio and Pennsylvania changed hands at $6000 last month.

Energy companies are pursuing unconventional assets after Brent oil futures prices rose last year.

Mark Carnegie, former head of Lazard's Australian private equity business, said: "This could be the next big thing."

-BLOOMBERG

sp on the move, Luna spud next week ? and still waiting the J. creek shale update.

The rig should have been released around the 26th Jan, should be some news next week.




Denmark

As previously announced by Xtract, the Maersk Resolve is currently drilling on contract to Maersk Oil and Gas in Denmark. The Maersk Resolve (350' ILC) 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 January 26, 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.