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monkey man

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  1. monkey man


    Hi Radd, On Page 13 of the RB Milestone Group report from October 2010, there is discussoin about 'additional technologies'. Aluminium oxide processing to produce aluminium metal is one technology presented. In the quarterly they mention NMP aluminium oxide processing technology, but for aluminium oxide product. I'm wondering the significance of this difference in product. Perhaps RB Milestone group got it wrong, perhaps the full technology hasn't been implemented at Geelong, or perhaps it is just the way they are writing their announcment, either way the potential difference in product means a difference in forecast revenues? Just a thought for the group. MM
  2. monkey man


    I think it is a positive that they mention aluminium oxide processing however is it significant that they do not state in the announcement that it is for aluminium sales, as per page 13 of the RB Milestone group report?
  3. monkey man


    The string of recent positive announcements has been very pleasing. Hopefully this experienced management team can keep construction on budget. Good luck to all who hold.
  4. monkey man


    In reply to: gunditrader on Monday 29/10/07 03:49pm API gravity is a measure of specific gravity of the oil, ie. its density compared to the density of water. The lighter the crude, the higher its value in degrees API (American Petroleum Institute). 43.6 is light oil. Light oils yield more gasoline etc and are valued higher than heavy oils.
  5. monkey man


    In reply to: Stormtrooper on Monday 17/07/06 11:53am I am considering averaging down as well. Clinical trials are still progressing, with good results to date. It is stressful to see the SP so low, however I will continue to hold as the biosilicon trials continue and the products get closer to the marketplace. Good luck everyone
  6. In reply to: ian_whitchurch on Thursday 06/07/06 12:23pm I'll have to remember that Ian http://www.sharescene.com/html/emoticons/graduated.gif cheers
  7. In reply to: swandc on Thursday 06/07/06 11:18am Waxy oil contains large amounts of waxy organic molecules which require more complex processing and make the oil less valuable to the refinery. It can also cause problems in production equipment. Ian has been around longer than myself I suspect and may know more about if it has ever stopped a development, I would be surprised to hear if it had, maybe back in the $8 days?
  8. In reply to: mooomooo on Thursday 29/06/06 06:58pm At least with a big rig they'll be able to pick up harder and trip faster. Just the wait sucks doesnt it.
  9. In reply to: geojac on Monday 12/06/06 11:24am Good point Geojac. The stresses within the rocks had slipped my mind.
  10. In reply to: juke on Sunday 11/06/06 06:36pm Juke, I was thinking about your suggestion of standing waves in the drill string striking the borehole walls and triggering breakout. I think given the depth of the well, and the depth to which it is cased, the wavelength of oscillation would be relatively short for this to occur - is this likely? It would also be influenced by the makeup of the drill string itself and the bottomhole assembly and the use of stabilizers, drill collars and the like. These themselves may contribute to breakout. Further complications are the degree of underbalance and the properties of the drilling fluid. I believe that the underbalanced pressure would be the primary mechanism of breakout. It is great to see in the announcement from the 5th of June that they seem to have the breakout problem managed "As we are using fully underbalanced drilling techniques, many non-drilling hours are required to clean out the hole because of well break out. This is to be expected as each freshly drilled new section needs to adjust to the low bottom hole pressure." MM
  11. In reply to: juke on Friday 09/06/06 09:27pm QUOTE In his update of 5th June Bertus de Graaf infers a quite different explanation that fluid pressure behind the open rock face is higher than in the well bore. However, the snubbing unit was employed supposedly to maintain the well pressures. Juke, I envision this to be the case. This also implies that they are producing formation brine along with returned drilling waters whilst drilling. If the formation was at a lower pressure than the well then fluids from inside the well would flow into the formation - potentially damaging permeability. This is what they are trying to avoid, and as a result have to drill underbalanced. Complexities of two phase flow may make the situation somewhat more complicated however. Drilling underbalanced means that there is insufficient pressure within the well bore to contain reservoir fluids - a condition exacerbated by the overpressured condition of the basement granites. The snubbing unit was used to allow them to force drill pipe into the well, against this pressure (see my post from 30/4/06, I don't know how to link it). To maintain the underbalanced condition I understand that they have to produce fluids whilst drilling. I havent contacted the company with regards to anything I have mentioned here, this is only from my understanding of drilling theory. Hope this gets you thinking. Cheers, MM
  12. The other night I was flicking through an old journal at home before I shelved it... I found this article which might be of interest to those who want to know more about snubbing units. The journal is 'World Oil, March 2006' (Gulf Publishing Company) and this article is a scanned copy from the Drilling Advances column written by contributing editor Les Skinner. "Snub drilling. Snub drilling, or "jack drilling" is not a new concept. Snubbing units have been used in some form of drilling from the time that hydraulic jacks replaced the old cable and pulley systems used for years on drilling rigs. Now, their use as compact drilling rigs has come to the attention of those hungry to poke a hole in the ground, but lacking a derrick, substructure and draw-works to do so. "Snubbing" is generally considered to be the act of running pipe into or pulling it out of a well that has pressure at the surface. The snubbing unit is suited for this work since it can push pipe in the hole against well pressure that is trying to push it back out of the hole. At some point when the buoyed weight of the string in the hole equals the expulsion force plus friction, the string is called "pipe heavy." It can then be lowered in the hole under its own weight. Still, since there is pressure on the well, running the remainder of the hole in the well is considered snubbing. Block and tackle gear can't do this job since they rely on gravity to pull the pipe into the ground. Snubbing units have been used extensively in service operations for many years. They can contain the pressure, within limits, so there may not be a compelling reason to kill the well. Live well work has become essential in many wells for a simple reason. Once some of these old dogs are killed, production can never be restored due to excessive fluid loading and near-wellbore damage. Operators are using snubbing units routinely for sidetrack/re-drilling work to recondition old wells. With oil at $14 per barrel, these were hardly economical in the past. Now at $60+ per barrel, a lot of older wells are becoming attractive candidates for reworking, but not if it means losing the hole. One type of grass roots-to-granite drilling that is clearly suited for a snubbing unit is underbalanced drilling (UBD). By definition, there must be pressure at the surface in UBD. If there were not, it would either be balanced or overbalanced. So, with even moderate pressure at the surface, snubbing must take place before the drill string can be run into or pulled from the hole. Some UBD projects employ a "rig assist" snubbing unit as part of the drilling package just for this purpose. OK; if there's going to be a snubbing unit there anyway, why not use it to drill? After all, a snubbing unit can move the pipe up, down and around like a rig. It simply uses hydraulic cylinders to hoist and lower the pipe and a hydraulic motor to turn it. Snub drilling has gotten a bad rap over the years due to excessive daily cost and slow tripping speeds. They are not generally equipped with all the ancillary equipment vital to the drilling process such as pumps, pits, kelly hoses, electric generating equipment and a derrick in which to rack pipe in thribbles (three segments per stand). All of this equipment must be rented as separate items, manifolded together somehow with the snubbing jack and made to operate as a single integrated unit. Generally, more rented equipment implies greater cost. Tripping speed seems to be the greatest problem, however. Traditionally, snubbing units can only pick up, run, pull and lay down single Range 2 pipe joints. This correlates to a lot of manual handling of singles, some degree of risk both to the pipe and to the people doing it and, of course, time. Generally, more time also implies greater cost. Various snubbing companies have met the challenges in different ways. One company attached a special basket, complete with finger-boards, to their jack and installed a telescoping boom that can handle two joints of pipe at once. This provides racking capability, which reduces trip time. The pipe can literally be run and pulled as fast as the jack can cycle, using this system. Other companies have erected towers or some type of scaffolding to allow vertical pipe racking. Generally, these require more room on the location. Larger snubbing units are equipped with a hydraulic rotary table mounted on top of the jack. This is often used to drill out fill or to mill on a stubborn piece of junk for a limited time. They are usually not well suited to long-term rotary motionâ€â€ÂÂÂÂthey simply aren't made for it. Their life's blood comes from the same source as the rest of the snubbing jack, the hydraulic power pack. Hydraulic fluid heats as it transfers horsepower from one unit to the other. For long-term drilling, an oil cooler or a second rotary motion source will probably be required with its own hydraulic power pack, such as a power swivelâ€â€ÂÂÂÂthe ubiquitous "rotary table in the sky." Cost for the equipment spread is also becoming more tolerable for snub drilling as drilling rig rates continue to soar. Rigs that would bring only enough money to buy the owner a new set of tires for the pickup a few short years ago are now going for daily spread costs that would make a robber baron gasp. Equipping a snubbing unit for drilling may be economically practical, especially if it's the only thing available. Tripping speed? This is still a problem, since a jack simply cannot move as fast as a block and tackle assembly. In UBD or potential live well drilling, the pipe can only be tripped so fast anyway. In these operations, tripping speed is limited to that allowed by the rotating control head, whatever style it may be. The newer snubbing units with pipe racking capability can actually trip pipe as fast as a drilling rig in these types of operations. I've seen it. What about setting surface casing? Unlike a free-standing drilling rig, a snubbing unit normally rigs-up on a wellhead with the casing supporting the weight of the entire stack. Solution: most snubbing companies now have their own substructures, sturdy steel frames that support the unit until the first casing string is run and cemented. Then, the snubbing unit is rigged up on the newly installed wellhead. Snubbing units still require anchors and guylines, however. These advances have pointed many operators toward snub drilling. Most of them formerly thought of a snubbing unit as a last resortâ€â€ÂÂÂÂthe worst piece of equipment that could show up on a location. They are beginning to reconsider. Once operators realize that creative use of available equipment is needed in times of extremely high drilling rig use, a snubbing unit may be the rig of choice, if that hole in the ground is going to get drilled at all. WO Les Skinner, a Houston-based consultant and a chemical engineering graduate from Texas Tech University, has 32 years of experience in drilling and well control with major and independent operators and well-control companies."
  13. In reply to: Fitzy on Wednesday 22/03/06 01:03pm QUOTE STO has lost $2.30 from its share price since it announced they were still doing due diligence on the PNG gas and there had been no decision on the 3rd of Feb. It closed at $13.49 that day. Probably says most people think STO should get off their bottoms and get on board. Lets see it get back up there soon. With massive drilling coming up in the Cooper and overseas, this is a company that deserves to be priced higher. Im looking forward to Hurricane, both for STO and BPT.
  14. In reply to: crawfy22 on Friday 07/04/06 07:28pm My thoughts exactly mate A little of a surprise to finally check the market after being in the lab all bloody day to see the movement on GDY...
  15. QUOTE (FSG @ Thursday 16/03/06 01:40pm) Im keen on seeing the debt to equity come down. I have kept an eye on this company since '97 and whilst that may mean I had the chance to build a nice position at cheap levels which I am loving now, I want to see this company get the monkey of its back (do others out there feel the same way?) and get back above $1. I want to see a strong balance sheet. That said I feel they are definately on track, I feel management are doing a great job.
  16. monkey man


    In reply to: apache123 on Thursday 16/03/06 10:54am Be time to look at buying more then wouldn't it...
  17. Sorry for the late reply but I just returned from Laos where there wasn't much internet in the places I visited... I like STO, I was dissapointed with the organic reserves replacement but have actually bought more because I think at this PE and with their forecast production profile this will provide good longer term returns. Yep I think they are out of favour - as they move further away from the Cooper and further towards oil and LNG this should change
  18. I feel as if the tide might be turning for Santos. I have closely followed it for the last few years, but I am only starting to really warm to it of late. I used to write it off for its lean growth in production, due to the nature of its core asset, the Cooper-Eromanga basins. The strategy by Ellice-Flint is starting to take effect I feel. Through the massive upcoming appraisal (chasing 2P reserves) drilling in the Cooper they will squeeze as much as they can out of the basin, whilst their focus shifts to other places - Indonesia and other offshore developments. CSM is also being developed. And all this in a high oil price environment, and a PE below the market / sector average. I suggest that it is just a matter of time until they find something in their wildcat wells - they are midway through a campaign in Egypt, and Central Asia may prove profitable. We await further information on Jeruk. I was surprised to read (I cannot remember where, maybe on SS?) that supposedly STO were not allowed to bid for acreage in Indonesia in a recent round as they 'did not fill in the forms correctly' - I wonder if they used blue pen instead of black? I wonder if there is more potential upside in WPL, but if WPL is priced for an amazing achievement. Santos may have limited downside compared to WPL, but still a lot of upside (in the rerating of the PE plus increase in earnings) This is only my quick run down of STO concerned with feelings about the company's prospects. How do people feel about the level of risk and return associated with STO compared to WPL?
  19. Taken from "World Oil" - November 2005, page 9. "Moderating prices may be short lived, as EartSat (sic) predicts a colder-than-normal winter, particularly in the US Northeast. This could push natural gas and heating oil prices higher again"
  20. monkey man


    In reply to: chiller on Monday 28/11/05 05:34pm Chiller, Thats based on recovering only a third of the 500 mmbo isn't it? Recoverable is a term usually applied to reserves - the structure is yet to be drilled and thus the term reserves does not apply. Its a bit tricky throwing words around that are not used according to current SPE/WPC/AAPG lingo. Still, the economics and recovery factor would have improved a lot since 1991. MM
  21. monkey man


    Im not sure of the output, but SAFF (South Australian Farmers Federation) are already producing biodiesel. MM
  22. T10, We are now trading at levels not seen since 1997 / 1998 http://www.sharescene.com/html/emoticons/lmaosmiley.gif . Fantastic stuff! Much more to go. MM
  23. monkey man


    Im with you on this Savtin. If it goes to $1.94, I'll be very surprised. Guess we'll wait and see...
  24. monkey man


    I have held PSD for a few years, but never been active on this thread. Whilst I am dissapointed with the SP of late, I keep reminding myself to have patience. Chooka I certainly agree with you on this; "If they are ever going to fulfil its true potential,they have certainly put themselves in a good position to do so." "Time will tell." Good luck to PSD
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