PA Resources - never heard of them, and their web site does not exactly clarify who their partner is- if you check out the link, look at item # 9 - Zarat;
PA - what a great name for an E&P company ,
(P&A is the slang for "plug and abandon")
yeah, I know I'm not funny anymore, yet this presentation is the best release of info for anyone doing their due diligence as an investor we've seen yet. And they claify their plans for Western Canada - something really worth evaluating,
so read the presentation at the web site, download it - and read it again.
I say thumbs up, and I will be looking at this equity as a serious investment in the months to come,
soon as I scrape up some cash!
Death to Bin Laden!
if you go to PA's presentation http://www.paresources.se/upload/Presentationer/2010/PAR_Presentation_Q3%202010_101027_final.pdf they note that Sonde plans to drill on "neighboring" 7/11 block and that they plan "cooperation" on data analysis. Seems to me that the two companies outline vastly divergent views of what they will be doing together
I just couldn't figure out (from the presentation PDF at the web site) why they used the term partner, sounds more like "neighbor"
things are looking up for SOQ - and all it took was to provide better information on their E&P plans.
They really have an ambitious plan for WC, Q3 & Q4 - and as others have posted - if they are taking their time to provide a full/complete assessment of the Zarat well there must be a very good reason.
If my cash wasn't tied up in other equities I would buy some SOQ before it hits 5 bucks - though that is too late for me, it is heading up in a consistent fashion and will break out before I come up with enough funding to make it worthwhile for me - even though it is liable to be near 6 bucks next week.
Most other O&G, E&P stocks (and the "biggies") are down today, and SOQ is showing a consistent upside pattern.
heck, if they dropped the Liberty project that would inspire some more upside!
Death to Bin Laden!
I don't think PA is their partner. If you look at the Zarat block it's broken into Tunisian and Libyan sides. In other words the structure falls on the oceanic border betw. two countries. PA Resources has already explored and drilled prospects on one side of the structure, and now SOQ is partnered with a co. established betw. the two countries to explore the structure straddling the two countries border. Marathon drilled a well some time ago (1996?) but I don't think they ever put the well on production, although it was a good well. I think it produced 15 mmcfpd with around 1800 bbls/day of liquids. I believe it was SOQ's intent to redrill and establish a new field from this same structure.
Marathon had to cut and run because any association by a USA company with any enterprise that had any conection with any thing even remotely connected with Libya was absolutely taboo.
I know. I was there.
You nailed it. Marathon drilled this same structure...who was with Marathon at the time? Tim Lindsey. Sonde only has this opportunity because of Lindsey and yet so many of you bash the guy. DUE DILLIGENCE.
soq's previous seismic map shows the relationship between the zarat 1 well and the zarat 2 well, in addition to their other wells on the structure .... there is a thin oil column below a gas column in the existing well and these same O/G/W contacts are depicted on the map for all the wells they plan to drill, or have already been drilled.
It is pretty well lined out with the 3D seismic and the depths are interpreted on the structure map from past presentation. regards
Yes the new presentation interesting . They must have have something positive to say 1.1 million on the TXE . From what I read the MRO well was drilled in 92 remember that in 92 the seismic and drill technology was in the stone age compared to 2010. JUST maybe we have a god prospect in N> AFRICA