The story for IONA is still in place, just needs time to play out. Holding tight there as well. They really need confirmation that the wells are flowing at 25,000 boepd. Once that's confirmed it pops in my opinion
"Argentina, teetering toward national bankruptcy for a century, now has discovered and begun work to exploit its shale oil and gas prospects, particularly around its vast Vaca Muerta (Dead Cow) formation.
As writer Jude Webber noted in The Financial Times: “Few countries need to crank up domestic oil and gas production more than Argentina. Its energy import bill, with its reliance on imported liquefied natural gas, was about $9.5-billion in 2012 and is expected to leap to $13-billion to $15-billion this year .”
Buying on margin today. Just going to take advantage of a quick trade when the fools sell. Worst case the dividend is double the margin interest
Found a good article on Madalena with interview of CEO yesterday. Check it out
Just a large insider selling shares thru secondary to mitigate impact on market. On a positive it is putting shares in the hands of the tudes......
There was no dilution and no impact on the distribution. Major holder is selling shares and doing it as a secondary to mitigate impact on the market, nothing more
What I liked on this article is not just comments from the Madalena CEO but the fact that this came off a UK investor site. These guys seem to be getting some serious international attention. Site was proactiveinvestors
Just sold last of my Synergy. got in in the high 2s and sold in high 5s to mid 6s. Nice double on average but I think they are fairly valued right now.
Triangle concerns me a bit with Rockpile as completion costs are being negotiated down and this will effect them. The gas/water processing side may well prove to hold the most value. We should see something out of them by 4th qtr this year
"The [Chevron] deal size was increased to $1.5 billion from $1 billion, between Chevron and YPF, which is offset to Madalena’s Coiron Amargo block," Madalena's Chief Executive Officer Kevin Shaw said in remarks to Proactive Investors on Tuesday.
Calgary-based Madalena has two blocks in the Vaca Muerta and Agrio Shales at Coiron Amargo (35 percent W.I.) and Curamhuele (90 percent W.I.).
The development of Vaca Muerta, which means "dead cow" in Spanish, is still in the preliminary stages. The final YPF-Chevron agreement should be signed in July, once outstanding trade and tax issues are hammered out. The pilot program includes 100 non-conventional oil wells that are expected to be drilled in 2013. Under the terms of the agreement, YPF will transfer a 50 percent interest in the Loma Lata Norte and Loma Campana field.
YPF is expected to have approximately 10,000 barrels of oil equivalent per day, or boe/d of shale production now online in the Loma Lata area. YPF currently produces approximately 10,000 boe/d composed of 5,500 barrels a day of light oil, 1,700 of NGL’s and 16.8 million cubic feet per day of natural gas from the unconventional shales. The Loma Lata Norte and Loma Campana fields are located near Madalena’s Corion Amargo block.
Meanwhile, Madalena is driving ahead with Vaca Muerta shale drilling at Coiron Amargo with a rig expected to mobilize to the block within a 30 day period, with multiple wells to be drilled in the oil window of the shales in 2013 onward, according to Shaw.
Madalena continues to ramp up production through its horizontal resource plays in Western Canada, while also driving forward on plans to further unlock significant value across its shale assets within the Neuquen basin in Argentina.
In late April, Madalena released a resource statement on its unconventional shale resources on its three land blocks within the Neuquen basin.
The report, done by Ryder Scott Petroleum Consultants, showed a best case scenario of 34.8 billion barrels of oil equivalent total petroleum initially in place, 51 per cent of which is made up of crude oil and natural gas liquids.
Of this, in the best case, 257.4 million barrels of oil equivalent were "discovered petroleum initially in place", while 34.6 billion barrels of oil equivalent were termed "undiscovered".
Best case contingent plus prospective recoverable resources were estimated at 2.9 billion barrels of oil equivalent - comprised of 19.4 million barrels of "contingent" recoverable resources, and 2.8 billion barrels of "prospective" recoverable resources.
Madalena holds 135,000 net acres on the Coiron Amargo, Curamhuele and Cortadera blocks within the Neuquen basin. The company's exposure to multiple, high impact tight sand plays in the Neuquén Basin is key, specifically the Vaca Muerta shale - which the company calls the most tangible shale play outside of North America.
The main zones of interest for the independent resource evaluation focused on the Vaca Muerta shale, the Lower Agrio shale and Basal Quintuco, the company said, with the report based on data from 19 delineation and discovery wells on the blocks, as well as 3D or 2D seismic coverage.
At just over a $130 million market cap versus $1.5 Billion dollar transcations in the Vaca Muerta shale, Madalena has a significant value proposition and optionality for investors.
It was good for me. added shares after hours at bargain pricing. Had sold shares after the dividend payment and got them back for a $1.50 a share less.
Welcome. Looks like the number of posters tripled yesterday to 3. I think Madalena should be a good one. In my opinion Argentina is between rock and hard place and are forced to bring in outside money and expertise to develop their shale. Nice thing is we got a major drilling wells on the fast time to help prove it up for us
You still holding Synergy?
UAN has a large stake holder selling shares as a secondary and the stock has taken a big hit after hours. Thing is total shares don't change, company gets no money.
Tomorrow it will be right back up and sell or worse case you make a 10% dividend
No, you won't this thing will bounce right back once the fools realize the total number of shares does not change, the distribution is not effected. Back over $26 in a few days at most
Continental, EOG and all the big players are all doing the testing on down spacing. Just so everyone understands Kodiak is doing the same science testing as the BIG boys. Since they are running with the BIG BOYS maybe they are a BAKKEN BIG BOY