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QPN, QUEST PETROLEUM NL
scully
post Posted: Jan 20 2015, 02:49 PM
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Posts: 231
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In Reply To: salts's post @ Dec 14 2014, 05:55 AM

This was on HC worth a read.


FYI


Indus Energy NL ASX:IND) formerly Quest Petroleum (ASX:QPN) has provided an strategic update on the binding term sheet signed with First Nations Exploration Company, Keyano Pimee Exploration Company Limited (KPECL), on its Alberta Oil Sands Project in Canada.

The agreement is to farm in to 82,290 acres of Cold Lake oil sands in Alberta.

Since the signing of the term sheet, Indus has held several meetings with KPECL and associated Cree Nations Chiefs in Alberta and negotiations have now advanced towards finalising and executing the Joint Operating Agreement.

This provides Indus with an opportunity to partner with a Cree First Nations oil exploration and gas production company that owns a large scale, multi target, drill-ready land position in a significant oil and gas producing location in Canada’s first ranking oil production province.

Once the JOA is executed, Indus will commence Phase 1 of the work program which will consist of low cost re-entry of four historic wells in areas where oil occurrences have been encountered during gas production activities on KPECL lands.

Priority is to look at a program of low cost re-entry wells while also taking advantage of the current market conditions which is seeing debt forced divestiture of land positions in the Cold Lake Area of Interest (AOI).

This provides a significant opportunity for acreage covering known heavy oil sands occurrences, already been freed up, to be snapped up at low acquisition and holding costs to add to existing and planned joint land positions.

This would result in the added benefits of the phase 2 conventional vertical well program being scheduled over a larger geographical area with the aim of delineating significantly increased reserves for similar expenditure


Due diligence

Extensive due diligence has already been completed by the company’s project advisors, Alberta based Apex Energy Consultants ,including the evaluation of over 1,000 production wells and associated data within or in close proximity to the Project areas and AOI.

Upon the signing of the JOA the Company expects to move rapidly forward with Phase 1 and the additional land acquisition programs.


Strategy

Indus is looking at acquisitions where the current project economics still provide optimal terms even at currently depressed oil prices.

KPECL and the Company are working together to ensure that the JOA enshrines this flexibility and that any associated work programs are profitable at current oil prices as well as look for additional opportunities in the region.


Board appointment

Indus has appointed Marcus Gracey to the Board as a non-executive director. Gracey is a commercial and corporate lawyer and currently the business development manager and general counsel at New Standard Energy (ASX:NSE) and a non-executive director of Sunbird Energy (ASX:SNY).


Analysis


In the current market of low oil prices Indus, the JV partners have an opportunity to acquire "distressed" properties prospective for oil sands in Alberta at potentially bargain basement prices.

The farm in to 82,290 acres of Cold Lake oil sands in Alberta, Canada is a material agreement.

The Cold Lake region is contributing an estimated 500,000 bopd and is one of three major oil sands deposits in Alberta. Alberta ranks first in crude oil reserves and production in Canada.

Significantly, Cold Lake recovery economics demonstrate viability even at current oil prices and the likelihood of a speedy, low-cost pathway to production revenues for Indus and KPECL.

This provides valuation potential significant for the junior with a market cap of circa $4 million in the short to medium term. It also provides a workable plan and a platform for Indus to accelerate plans to becoming a North American oil producer.

With the focus on achieving low cost production in Alberta, a review of its Indonesian assets is underway.

The addition of Marcus Gracey to the board of directors is an impressive addition where Gus Simpson of Peninsula Energy (ASX:pEN) fame and Anthony Milewski round out an experienced energy board.
Mobcat

 
scully
post Posted: Jan 20 2015, 02:49 PM
  Quote Post


Posts: 231
Thanks: 10


In Reply To: salts's post @ Dec 14 2014, 05:55 AM

This was on HC worth a read.


FYI


Indus Energy NL ASX:IND) formerly Quest Petroleum (ASX:QPN) has provided an strategic update on the binding term sheet signed with First Nations Exploration Company, Keyano Pimee Exploration Company Limited (KPECL), on its Alberta Oil Sands Project in Canada.

The agreement is to farm in to 82,290 acres of Cold Lake oil sands in Alberta.

Since the signing of the term sheet, Indus has held several meetings with KPECL and associated Cree Nations Chiefs in Alberta and negotiations have now advanced towards finalising and executing the Joint Operating Agreement.

This provides Indus with an opportunity to partner with a Cree First Nations oil exploration and gas production company that owns a large scale, multi target, drill-ready land position in a significant oil and gas producing location in Canada’s first ranking oil production province.

Once the JOA is executed, Indus will commence Phase 1 of the work program which will consist of low cost re-entry of four historic wells in areas where oil occurrences have been encountered during gas production activities on KPECL lands.

Priority is to look at a program of low cost re-entry wells while also taking advantage of the current market conditions which is seeing debt forced divestiture of land positions in the Cold Lake Area of Interest (AOI).

This provides a significant opportunity for acreage covering known heavy oil sands occurrences, already been freed up, to be snapped up at low acquisition and holding costs to add to existing and planned joint land positions.

This would result in the added benefits of the phase 2 conventional vertical well program being scheduled over a larger geographical area with the aim of delineating significantly increased reserves for similar expenditure


Due diligence

Extensive due diligence has already been completed by the company’s project advisors, Alberta based Apex Energy Consultants ,including the evaluation of over 1,000 production wells and associated data within or in close proximity to the Project areas and AOI.

Upon the signing of the JOA the Company expects to move rapidly forward with Phase 1 and the additional land acquisition programs.


Strategy

Indus is looking at acquisitions where the current project economics still provide optimal terms even at currently depressed oil prices.

KPECL and the Company are working together to ensure that the JOA enshrines this flexibility and that any associated work programs are profitable at current oil prices as well as look for additional opportunities in the region.


Board appointment

Indus has appointed Marcus Gracey to the Board as a non-executive director. Gracey is a commercial and corporate lawyer and currently the business development manager and general counsel at New Standard Energy (ASX:NSE) and a non-executive director of Sunbird Energy (ASX:SNY).


Analysis


In the current market of low oil prices Indus, the JV partners have an opportunity to acquire "distressed" properties prospective for oil sands in Alberta at potentially bargain basement prices.

The farm in to 82,290 acres of Cold Lake oil sands in Alberta, Canada is a material agreement.

The Cold Lake region is contributing an estimated 500,000 bopd and is one of three major oil sands deposits in Alberta. Alberta ranks first in crude oil reserves and production in Canada.

Significantly, Cold Lake recovery economics demonstrate viability even at current oil prices and the likelihood of a speedy, low-cost pathway to production revenues for Indus and KPECL.

This provides valuation potential significant for the junior with a market cap of circa $4 million in the short to medium term. It also provides a workable plan and a platform for Indus to accelerate plans to becoming a North American oil producer.

With the focus on achieving low cost production in Alberta, a review of its Indonesian assets is underway.

The addition of Marcus Gracey to the board of directors is an impressive addition where Gus Simpson of Peninsula Energy (ASX:pEN) fame and Anthony Milewski round out an experienced energy board.
Mobcat

 
salts
post Posted: Dec 14 2014, 05:55 AM
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In Reply To: scully's post @ Nov 28 2014, 10:48 AM

don't you hate share consolidations? I had a much better chance of making money on my options (with $0.015) than now at $0.30.

The company will now make some whiz bang announcement followed closely by a capital raising. Ranau was going to happen ages ago, don't trust the management here at all.

salts




 
scully
post Posted: Nov 28 2014, 10:48 AM
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In Reply To: mme's post @ Oct 25 2014, 07:30 AM

Big Ann out last night regarding a JV in Canada looks to be great news for holders ,bit of trade this morning following Ann AGM today,wish i could go but cant..... things seem to be happening at last with QPN .

 
mme
post Posted: Oct 25 2014, 07:30 AM
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In Reply To: Elliott's post @ Oct 25 2014, 05:07 AM

Well strange as it is, I don't think it's the end of the Company as they still have about 3 million dollars in the kitty. Let's hope not for holders! biggrin.gif

 
Elliott
post Posted: Oct 25 2014, 05:07 AM
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In Reply To: scully's post @ Oct 24 2014, 08:31 PM

There isn't one buyer in the queue for this stock. All buyers got took out yesterday... every single one -it doesn't bode well.



--------------------
My posts are for discussion and educational value only. They are not to be construed as advice in any way.
 


scully
post Posted: Oct 24 2014, 08:31 PM
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In Reply To: scully's post @ Jul 16 2014, 05:49 PM

Wow i see my 00.1 buys got filled today ,that is amazing i just joined the top 20 Wooo Hoooo, sure hope thats a good thing smile.gif

 
scully
post Posted: Jul 16 2014, 05:49 PM
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In Reply To: scully's post @ May 29 2014, 03:57 PM

OMG i see QPN traded a few today up 100% and a fist full of trades maybe something is happening ??????

 
scully
post Posted: May 29 2014, 03:57 PM
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In Reply To: kiril's post @ May 27 2014, 06:46 PM

Hi Kiril QPN sure seems a good BUY for the patient ATM , i have been a believer in the Indo tenements since one cent SP so i rate it as screaming BUY at these levels i have been buying dribs and drabs as the funds have become avaliable at 0.002 , i do belive a lot of people are awaiting news on QPN before jumping on board i know of two big players personally just waiting for QPN to drill Ranu.

Cheers
Scully


Said 'Thanks' for this post: kiril  
 
kiril
post Posted: May 27 2014, 06:46 PM
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In Reply To: scully's post @ May 27 2014, 04:56 PM

Hi Scully, thanks for that update.

I stole a few more today during the aftermarket auction.

The potential upside here should they find a partner to assist with some funding is greater than most could imagine.

Lets see if AM can deliver.

I spoke with Gus Simpson a week ago, who informs me that AM has been working his butt off for QPN.....so lets hope they have something to show for it hey.

Kiril

I hold.

 
 


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