Basic Earth - aktuell günstiger Öl- und Gasproduzent holt zum größen Bohrprogramm der Firmengeschich - 500 Beiträge pro Seite

[Statistix]

Basic Earth Science Systems Inc. (US Ticker BSIC.OB) ist ein Junior im Bereich Öl- und Gasexploration und Produktion. Die Aktie war immer ein Zwilling von Fieldpoint Petroleum (FPP), die anziehenden Ölpreisen, einem starkem IR-Programm, Listing an der AMEX und einem aufgelegten Bohrprogramm in 2005 einen richtig großen Sprung gemacht haben. Für diejenigen, die sich erinnern… Meiner Meinung nach befindet sich BSIC nun am selben Punkt.

Das letzte Jahr war für die Company nicht einfach, da man trotz einiger Bohrungen in der schwierigen aber prospektiven Bakken Formation in North Dakota die Produktion nicht steigern konnte. Es kam hinzu, daß der sehr konservativ agierende CEO (der seit 1982 bei der Firma ist) immer nur kleinere Beteiligungen (Working Interests =WI) an zum teil einzelnen Bohrungen eingegangen ist. Dies führt dazu, daß man zwar eine erfolgreiche Quelle erschließen kann, man aber kein Follow-Up Potential generiert hat, daß den Investoren klar gemacht hat, wo die mögliche Produktion hingehen kann.

Dies ändert sich nun offensichtlich, wie aus den zusammengetragenen Informationen hoffentlich hervorgeht.

Auch aktuell ist BSIC (selbst ohne Produktionssteigerungen) attraktiv bewertet.

Die Fakten: (alle Angaben in $US)

Aktienkurs: 1,05
Shares Outstanding (f/d) = 17,1 Mio. Davon 4 Mio in der Hand des CEO.
Marktkapitalisierung = 17,3 Mio
Enterprise Value (EV)= Um die 15 Millionen aus positivem Working Cap und Cash 3 Mio – Verbindlichkeiten
KGV(07): 11

Produktion:
Öl 240 bbl/d Gas 380 mcf/d Insgesamt 303 boe/d. Also insgesamt ziemlich öllastig.
Im letzten Quartal hat man 0,024 an Gewinn pro Aktie (EPS) gehabt und könnte auf Jahressicht wohl bei einem forward KGV von 10-11 liegen. Also nicht unbedingt teuer.

Ebenso kann man wohl ein EV/Cashflow Multiple von unter 5 auf Basis aktueller Daten annehmen. Zum Vergleich der Median in Kanada liegt bei 7.

BSIC wird leicht unter dem aus dem letzen Jahresabschluß hervorgehenden Kapitalwert der Öl- und Gasreserven (NPV) gehandelt. Auch nicht gerade teuer.

Insgesamt also finde ich schon recht günstig.

Dazu kommt nun aber noch ein zum ersten mal seit ich die Company verfolge sichtbahres Bohrprogramm mit Potential für Follow-Ups bei erfolgen.

Bohrprogramm:

Im Wattenburg Field (Working interest 15-60% je nach Lage) (Operator Kerr McGee (jetzt APC) wird man nach sog. Tight Gas bohren.
Da es sich teilweise um Downspacing-Bohrungen in einem bekannten Feld handelt, in dem APC schon sehr viele Löcher gebohrt hat, kann man wohl recht sicher davon ausgehen, daß diese erfolgreich sein werden. Man kann wohl mit ca. 500 mcf/d (gross) pro Bohrung rechnen.
Es sollen 11-16 Bohrungen in den nächsten 3 Monaten anlaufen, die direkt nacheinandenr von APC gebohrt werden sollen.

Weitere Infos findet man hier: http://www.anadarko.com/operations_by_region/u.s._rockies/ti…

Wenn ich mal spinne und sage 10 Wells kommen mit 500 mcf/d (gross) Flushproduction rein, wir nehmen im Durchschnitt einen WI von NUR 15% (eigentlich 15%-60%) könnte wohl allein aus diesem Property eine Produktionsteierung von 750 mcf/d net to BSIC kommen! Das wären 125 boe/d oder eine Steigerung von knapp 40% des Produktionsvolumens. Zugegeben Gas, aber nicht schlecht, wenn man bedenkt, daß BSIC auch ohne Wachstum nicht allzu teuer ist.

Das zweite wichtige Projekt ist ein Explorationwell in Montana (Red River Test). Momentan hält BSIC hier 50% der Rechte. Die Kosten für BSIC für diese 50% wären 1 Mio, allerdings wird man wohl einen Teil noch verkaufen (Farm-Out). Man will aber zukünfig (erstmals) Operator sein. Hier hält man sich sehr bedeckt, aber wenn man bedenkt, wie BSICs Investitionsstrategie in den letzten Jahren war (sehr risikoavers), muß das Management hier mögen was es sieht.

Zusätzlich wird wohl noch ein Bakken-Well (North of Pedersen #1-10) (Öl) hinzukommen, daß wohl nicht unter 500k kosten wird.


Das sind erstmal die wichtigsten Infos. Ich denke BSIC ist hier ein klarer Kauf. Allerdings wie immer Do your own due diligence.

[Broker_Hans]

Antwort auf Beitrag Nr.: 31.333.634 von Statistix am 29.08.07 19:30:56

Finger weg ist Schrottaktie,behalt du ruhig mal die Aktie und werde glücklich damit

[Statistix]

Begründung bei einem KGV von 11 einer sauberen Bilanz und einem Cashflowmultiple unter 5 sowie aktivem Bohrprogramm?

[snafur]

Antwort auf Beitrag Nr.: 31.333.634 von Statistix am 29.08.07 19:30:56

Danke, sieht solide aus nach überfliegen des letzten Quartalsberichts.
Aber der Chart, der Chart ...

[Statistix]

Snafur Danke für Deine Meinung.
... ich bin zwar nur selten Chartleser. Aber ich gebe Dir absolut Recht. Nicht schön... Umso unterschätzter meiner Meinung nach. Aber wie das bei Value so is. Man weiß halt nie wann er entdeckt ist und wo der Boden ist. Ne Idee für nen schnellen Trade ist es sicher nicht...

[JosedelaVega]

Antwort auf Beitrag Nr.: 31.334.697 von Statistix am 29.08.07 20:51:45

@ Statistix

hm... du denkst sie können den Rückgang somit dieses Jahr drehen?
Wie sieht es mit proved and prop. Res. aus? Kommen die 240 Barrel aus einem well oder ...? Wo erwartet man die Prod.-Kosten beim Wattenburg Field?

gruß
José

[Statistix]

Antwort auf Beitrag Nr.: 31.333.634 von Statistix am 29.08.07 19:30:56

Hallo José,

ich denke die Chancen stehen ziemlich gut. Die 240 bbbl/d kommen aus einer Reihe von Wells. Meist aus einzelnen Wells, wo man nicht gleich Anteile an einem ganzen Feld dahinter hatte. Somit war immer das Problem, schön wir haben ein gutes Well gefunden aber kein Follow-up Potenzial.

Letztes Jahr hat man die Strategie diesbezüglich geändert und sich in North Dakota auf ein Bakken-Play konzentriert. Aufgrund der schwierigen Bedingungen dieser Formation war das bislang nicht wirklich erfolgreich. In meiner Analyse rechne ich auch mit 0 Erfolg von da. Immerhin hat man aber vor 3 Wells mit neuen Techniken zu stimulieren Lynn #1 #2 #3 und man plant einen Re-Entry des letztes Jahr erfolglosen LM#1 (die Lynn Wells sollten ähnlich sein).


Zu LM#2 gabs vor kurzme zum Vergleich News.

----

DENVER, Aug. 3 /PRNewswire-FirstCall/ -- Basic Earth Science Systems, Inc. (Basic) (OTC Bulletin Board: BSIC - News) reported that early results indicate that the recent stimulation efforts on the LM #2, a horizontal Rival formation well in McKenzie County, North Dakota, appear to have been successful. Estimates of stabilized production rates at this point are premature and the Company is waiting for the workover rig to be removed and surface equipment to be reconnected. However, preliminary data indicates initial oil production rates could reach 100 barrels per day. Basic has a 19.33% working interest in the LM #2 that is operated by Missouri Basin Well Service.


"We are encouraged by these results," commented Ray Singleton, President of Basic. "Furthermore, if we can maintain this 150% rate increase, this stimulation design may be applied to other wells that Missouri Basin has drilled over the last two years."

----

Bin grade unter Zeitdruck melde mich zu den restlichen Punkten später nochmal. Aus dem Kopf BSIC wird ungefähr in Höhe des PV-10 gehandelt, jede BOE mit ungefähr $12 wenn man den EV ansieht. Aber ich muß das noch mal nachsehen. Reserven waren glaube ich 1,2 Mio BOE. Alles aus dem Kopf…

[Statistix]

Geologisches zum Feld:

http://rmmcweb.cr.usgs.gov/frontrange/energy/petroleum_resou…

http://www.secinfo.com/d13ACs.v958.d.htm

http://www.searchanddiscovery.net/documents/98003/index.htm

Zum Effekt von coiled tubing drilling in Wattenberg:

Man beachte hier besonders welchen Zeitersparniss und somit auch Kostenersparniseffekt hat. Kein Wunder also, daß APC in diesem Property die Entwicklung mit dieser rel. neuen Technologie vorantreibt.

http://www.dpcusa.org/natural/ppt/070716.ppt

[Statistix]

Antwort auf Beitrag Nr.: 31.333.634 von Statistix am 29.08.07 19:30:56

Es geht also los:

Press Release Source: Basic Earth Science Systems, Inc.

Basic Earth Begins Drilling Its Antenna Federal Property in Colorado
Friday September 21, 8:50 am ET

DENVER, Sept. 21 /PRNewswire-FirstCall/ -- Basic Earth Science Systems, Inc. (Basic or the Company) (OTC Bulletin Board: BSIC - News) reported that, along with its partner, it has commenced drilling operations on the USA #32-36 on its Antenna Federal property in Weld County, Colorado. This is the first well of an expected sixteen well continuous drilling program that will last until mid-January 2008. While the majority of wells will be drilled to the Codell formation, at least four wells will be drilled to the deeper J-Sand formation. The opportunity to drill these wells is the result of a Colorado Oil & Gas Conservation Commission ruling that allows increased density in this area. Drilled between existing producing wells, or down spaced, the dry hole risk is substantially lower than a new exploration well. Basic is expected to have a 15 percent working interest in the Codell wells and a 30% to 60% working interest in J-Sand production (depending on actual well location). The Company expects to spend $1.7 million for its share of the cost of drilling and completing these wells. Kerr-McGee Oil & Gas Onshore, LP will be the Operator of the project.

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"After years of delays, with continually changing partners, it is exciting to finally commence these wells," said Ray Singleton, president of Basic. "This effort represents not only the largest number of wells Basic has ever undertaken in a single, continuous drilling project, but also the largest dollar expenditure on a single project in the history of the Company. And, with an extremely low probability of a dry hole, we view this as an extremely low risk project that could have a strong, favorable impact on the Company's financial results. If these wells perform as expected, we anticipate increasing our proved producing reserves by 12 1/2 percent and adding $1 million to our cash flow the first year from this project alone."

"On other fronts, all our other previously disclosed efforts are progressing on schedule. As always, we not only continue to search for new strategic opportunities, but also those that will have an immediate impact to Basic's profitability."

Founded in 1969, Basic is an oil and gas exploration and production company with primary operations in select areas of the Williston basin, the Denver-Julesburg basin in Colorado, the southern portions of Texas, and along the on-shore portions of the Gulf Coast. Basic is traded on the "over-the-counter -- bulletin board" under the symbol BSIC. Basic's web site is at http://www.basicearth.net where additional information about the Company can be accessed.

Information herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "should," "may," "will," "anticipate," "estimate," "intend" or "continue," or comparable words or phrases. In addition, all statements other than statements of historical facts that address activities that Basic intends, expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of Basic, particularly the Company's Quarterly Report on Form 10-QSB for the quarters ended June 30, 2007, in addition to the Company's Annual Report on Form 10-KSB for the fiscal year ended March 31, 2007, for meaningful cautionary language disclosing why actual results may vary materially from those anticipated by management.

[Statistix]

Antwort auf Beitrag Nr.: 31.333.634 von Statistix am 29.08.07 19:30:56

Alles Infill Drilling also mit sehr geringem Risiko. Dazu soll der NPV um 12,5% der Reserven hochgehen und am Anfang die Flushproduktion um bis zu 40% (siehe oben!). Wenn das nix is!

[Statistix]

Mit der Royalty und Steuererhöhung in Canada scheinen die USA als eines der ganz wenigen Länder zu sein, die den Ölfirmen (also dem Verbraucher) aktuell nicht noch zusätzlich in die Tasche greifen zu bleiben. Auf dem Weg weit über die $100 Dollar kann man in den USA wohl ganz gut profitieren. Wie das dann nach der nächsten Wahl aussiehst ist natürlich ne andere Sache.

[snafur]

Antwort auf Beitrag Nr.: 31.774.756 von Statistix am 28.09.07 12:11:40

Das mit den (bisher nur vorgeschlagenen) neuen Royalty und Steuerregeln betrifft nur Alberta - und da primär die Ölsandfirmen.
Für die meisten konventionellen Öl/Gasproduzenten wird es im Schnitt eher günstiger.

[Statistix]

Jep, danke für die Richtigstellung. Ich hätte genauer sagen müssen Ölsandfirmen. Naja ist halt auch ein bisschen Frust dabei gewesen, weil ich ein paar Gewinne aufgrund der Vorschläge dieser Komission abgeben mußte.
Eigentlich verrückt, daß auch SU darunter zu leiden hatte, obwohl diese größtenteils ausgenommen sein sollten...
Andererseits gibts einen netten Junior da grade dafür günstig zu haben (npe.v).


Grüße

Stat.

[Statistix]

Der Plan ist wohl die Wells nach dem Drilling relativ rasch einzuhängen (tie-in after test). Insofern sollten wir wohl bald was von den ersten Wells hören.

[Statistix]

Wenn das keine News sind...

Basic Earth Continues Development Drilling on Its Antenna Federal Property in Colorado
Friday October 19, 8:50 am ET

DENVER, Oct. 19 /PRNewswire-FirstCall/ -- Basic Earth Science Systems, Inc. (Basic or the Company) (OTC Bulletin Board: BSIC - News) reported that, along with its partner, it is currently drilling the USA #10-36 as part of the continuing development of its Antenna-Federal property in Weld County, Colorado. This is the eighth well of an expected sixteen well continuous drilling program that will last until mid-January 2008. While the majority of wells will be drilled to the Codell formation, at least four wells will be drilled to the deeper J-Sand formation. Basic is expected to have a 15 percent working interest in the Codell wells and a 30% to 60% working interest in J-Sand production (depending on actual well location). The Company expects to spend $1.7 million for its share of the cost of drilling and completing these wells. Kerr-McGee Oil & Gas Onshore, LP will be the Operator of the project.

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"Completion and testing have not yet begun on the six wells that reached their planned depth of 7,500 feet," said Ray Singleton, president of Basic. "However, all six wells encountered reservoir quality sand in the Codell or J-Sand formations and no geologic surprises emerged. One well, the USA #22-36, was abandoned and plugged at 800 feet after surface casing was dropped in the well and could not be repaired or recovered. A second attempt will be made to drill this well and we believe a new federal drilling permit can be approved in time to add this 'second attempt' to the drilling schedule after the remaining planned wells have finished drilling."

"As previously stated, this effort represents not only the largest number of wells Basic has ever undertaken in a single, continuous drilling project, but also the largest dollar expenditure on a single project in the history of the Company. And, with an extremely low probability of a dry hole, we view this as an extremely low risk project that could have a strong, favorable impact on the Company's financial results. If these wells perform as expected, we anticipate increasing our proved producing reserves by 12 1/2 percent and adding $1 million to our cash flow the first year from this project alone."

Founded in 1969, Basic is an oil and gas exploration and production company with primary operations in select areas of the Williston basin, the Denver-Julesburg basin in Colorado, the southern portions of Texas, and along the on-shore portions of the Gulf Coast. Basic is traded on the "over-the-counter - bulletin board" under the symbol BSIC. Basic's web site is at http://www.basicearth.net where additional information about the Company can be accessed.

Information herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "should," "may," "will," "anticipate," "estimate," "intend" or "continue," or comparable words or phrases. In addition, all statements other than statements of historical facts that address activities that Basic intends, expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of Basic, particularly the Company's Quarterly Report on Form 10-QSB for the quarters ended June 30, 2007, in addition to the Company's Annual Report on Form 10-KSB for the fiscal year ended March 31, 2007, for meaningful cautionary language disclosing why actual results may vary materially from those anticipated by management.

[Statistix]

Tsja bislang war mein Bidding hier die Tage erfolglos. Mal schaun ob ich morgen ein paar für meinen Preis kriege.

[Statistix]

Antwort auf Beitrag Nr.: 32.196.774 von Statistix am 29.10.07 22:26:47

Nach nem halben Jahr kann man hier wohl die Früchte der Drilling Campaign ernten:

Hier in Auszügen die letzten vermeldeten Produktionsdaten:

14. April

Sand
Well Name Bbls.Oil/Day MCF/Day NRI Potential

USA 4-36 24 582 0.52500 No
USA 22-36 120 490 0.16375 No

31. März

Well Name Bbls. Oil/Day MCF/Day NRI J Sand
USA 19-36 60 225 0.14375 No
USA 32-36 40 72 0.14375 No
USA 33-36 97 262 0.16375 No
USA 35-36 80 220 0.02000 No
USA 36-36 162 450 0.02000 Yes

More to come!

Im übrigen profitiert man mit dem signifikanten Bakkenlandpackage von dem Hype dort. Man kann bei PBG.TO gut sehen, was man aus Bakken rausholen kann...

[Statistix]

Mit anderen Worten. Die ersten 7 von 16 Wells haben die Produktion um knapp 150 boe/d angehoben. Das ist eine Steigerung von 50% gegenüber der Produktion davor. Und es kommen noch 9 weitere Wells nach. Ich hab hier seit langem mal wieder richtig groß eingekauft.

[Statistix]

Basic Earth Provides Update On Horizontal Bakken Well
Monday May 12, 2:22 pm ET

DENVER, May 12 /PRNewswire-FirstCall/ -- Basic Earth Science Systems, Inc. (Basic) (OTC Bulletin Board: BSIC - News) reported that the Paulson 14-9H, a horizontal Bakken well in Dunn County, North Dakota, has recently concluded drilling operations. Drilling a total of 20,092 feet, the well had 9,142 feet of lateral in the Middle Bakken Porosity. Basic has a 1.2469% working interest (0.9975% net revenue interest) in the well which is operated by Marathon Oil Company. Basic expects to spend approximately $80,000 on this effort.

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"We are excited to convey that by all indications this is an excellent well," commented Ray Singleton, President of Basic. "Not only did we have excellent cutting shows, but also had to flare gas nearly continuously during horizontal operations and recovered approximately 800 barrels of oil that accumulated over the course of drilling. We now await results once the well is placed on production."

"In related events," Singleton continued, "it appears that several companies now developing Bakken on the doorstep of our Banks prospect in eastern McKenzie County are achieving success and these wells should be off confidential status soon. Once released, the attractiveness of these nearly 13,000 gross acres (approximately 2,000 net) should become undeniable. With the continued success of these offset ventures, we would expect further developments on our Banks prospect by sometime this summer."

Founded in 1969, Basic is an oil and gas exploration and production company with primary operations in select areas of the Williston basin, the Denver-Julesburg basin in Colorado, the southern portions of Texas, and along the on-shore portions of the Gulf Coast. Basic is traded on the "over-the-counter - bulletin board" under the symbol BSIC. Basic's web site is at http://www.basicearth.net where additional information about the Company can be accessed.

Information herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "should," "may," "will," "anticipate," "estimate," "intend" or "continue," or comparable words or phrases. In addition, all statements other than statements of historical facts that address activities that Basic intends, expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of Basic, particularly the Company's Annual Report on Form 10-KSB for the fiscal year ended March 31, 2007, for meaningful cautionary language disclosing why actual results may vary materially from those anticipated by management.

[Statistix]

Die 2,75 sind schon ein harter Brocken. Ich denke da können erst die letzten Flowraten des Wattenberg Fields helfen.

[Statistix]

Antwort auf Beitrag Nr.: 34.138.700 von Statistix am 21.05.08 01:58:30

Tsja erstmal gescheitert. Ein neuer Anlauf könnte nach einer Korrektur etwas dauern...

[Statistix]

Basic Earth Announces Production Rates on Its Antenna Federal Property in Colorado
Thursday June 5, 8:45 am ET

DENVER, June 5 /PRNewswire-FirstCall/ -- Basic Earth Science Systems, Inc. (Basic or the Company) (OTC Bulletin Board: BSIC - News) reported initial potentials on five more wells on its Antenna Federal property in Colorado's DJ Basin. In the northeast production facility, in addition to Basic's net revenue interest (NRI) and future J Sand production potential, the following table shows the initial production rate reported to the Colorado Oil & Gas Conservation Commission for these five new wells:

J Sand
Well Name Bbls. Oil/Day MCF/Day NRI Potential
USA 2-36 51 350 0.52500 No
USA 21-36 0 638 0.16375 Yes
USA 24-36 22 109 0.16375 Yes
USA 25-36 73 348 0.16375 Yes
USA 41-36 67 358 0.02000 Yes



As previously disclosed, these wells are part of a sixteen well development drilling program in the heart of Colorado's Wattenberg gas field. Basic expects to have a 2% to 52.5% revenue interest in Codell/Niobrara production and a 13.125% to 52.5% revenue interest in J-Sand production (depending on actual well location). However, initially, all new wells will produce from the Codell/Niobrara formation alone. The Company expects to spend a total of $2 million for its share of the cost of drilling and completing these wells. Kerr-McGee Oil & Gas Onshore, LP will be the Operator of the project.

"We continue to be excited as we announce these new production rates," commented Ray Singleton, president of Basic. "Our northeast facility was not brought fully on-line until mid-May due to a back order on critical flow controllers. However, all of its eight wells are now flowing. All of the reported initial production rates are, and have been, based on 24 hour production volumes up casing without tubing in the wells. Because of this configuration, daily production rates vary significantly. Correspondingly, reported initial production rates, especially those of the USA #21-36, may or may not be indicative of future performance. Once pressures moderate, we expect to check each wellbore for obstructions and place the wells on production up tubing. Once this more conventional configuration is established we will have a better idea of where production should stabilize. During a field inspection this weekend, it was noted that our southeast production facility is also on-line and we should be reporting initial production rates from its new wells within a few weeks. Repeating our previous statement, to this point, there have been no real surprises; there have been no dry holes, all geologic sections were present, no completion problems were encountered and, as anticipated, production rates are varied, yet still within the parameters of our initial expectations. So far, operationally, this has been a very successful venture."

[Statistix]

Alles zusammen haben wir also:
Well Name Bbls. Oil/Day MCF/Day NRI J Sand
1.USA 4-36 24 582 0.52500 No
2.USA 22-36 120 490 0.16375 No
3.USA 19-36 60 225 0.14375 No
4.USA 32-36 40 72 0.14375 No
5.USA 33-36 97 262 0.16375 No
6.USA 35-36 80 220 0.02000 No
7.USA 36-36 162 450 0.02000 Yes
8.USA 2-36 51 350 0.52500 No
9.USA 21-36 0 638 0.16375 Yes
10.USA 24-36 22 109 0.16375 Yes
11.USA 25-36 73 348 0.16375 Yes
12.USA 41-36 67 358 0.02000 Yes

Fehlen nun schließlich noch 4. Zudem haben wir bei mindestens 5 bislang noch Potential im J-Sand. Dort ist der WI höher und man wird das Öffnen, wenn die Wells in der Produktion nachlassen.
Alles in allem sollte es von den Earnings (vor allen bei den aktuellen Ölpreisen) ein sehr schönes Jahr für Basic werden. Es bleibt zudem Potential für follow-ups. Man sollte ebenfalls nicht das Bakkenplay vergessen. Hier erwarte ich aber keine Bohrungen vor nächstem Jahr.

[Statistix]

Antwort auf Beitrag Nr.: 34.152.689 von Statistix am 22.05.08 17:01:47

WAHNSINNSNEWS. Das USA 10-36 Well bringt uns net über 90 bbl/d!

Vor dieser Drill Campaign hatten wir nur 240. Und da sind die anderen Wells alle noch nicht drin! Zusammenrechnen und staunen!

Basic Earth Announces All Wells On Its Antenna Federal Property in Colorado Now On Production
Monday June 16, 2:58 pm ET

DENVER, June 16 /PRNewswire-FirstCall/ -- Basic Earth Science Systems, Inc. (Basic or the Company) (OTC Bulletin Board: BSIC - News) reported initial potentials on four more wells on its Antenna Federal property in Colorado's DJ Basin. In the southeast production facility, in addition to Basic's net revenue interest (NRI) and future J Sand production potential, the following table shows the initial production rate reported to the Colorado Oil & Gas Conservation Commission for these four new wells:


J Sand
Well Name Bbls. Oil/Day MCF/Day NRI Potential
USA 10-36 184 580 0.52500 No
USA 23-36 99 364 0.16375 Yes
USA 37-36 154 640 0.02000 No
USA 39-36 22 438 0.02000 Yes



As previously disclosed, these wells are part of a sixteen well development drilling program in the heart of Colorado's Wattenberg gas field. Basic expects to have a 2% to 52.5% revenue interest in Codell/Niobrara production and a 13.125% to 52.5% revenue interest in J-Sand production (depending on actual well location). However, initially, all new wells will produce from the Codell/Niobrara formation alone. The Company expects to spend a total of $2.2 million for its share of the cost of drilling and completing these wells. Kerr-McGee Oil & Gas Onshore, LP will be the Operator of the project.

"We are excited to announce that, finally, all sixteen new wells and sixteen old wells are up and running," commented Ray Singleton, president of Basic. "As before, all of the reported initial production rates are, and have been, based on 24 hour production volumes up casing without tubing in the wells. Because of this configuration, daily production rates vary significantly and may, or may not, be indicative of future performance. Once pressures moderate, we expect to check each wellbore for obstructions and place the wells on production up tubing. Once this more conventional configuration is established we will have a better idea of where production should stabilize. Repeating our previous statement, to this point, there have been no real surprises; there have been no dry holes, all geologic sections were present, no completion problems were encountered and, as anticipated, production rates are varied, yet still within the parameters of our initial expectations. So far, operationally, this has been a very successful venture."

Founded in 1969, Basic is an oil and gas exploration and production company with primary operations in select areas of the Williston basin, the Denver-Julesburg basin in Colorado, the southern portions of Texas, and along the on-shore portions of the Gulf Coast. Basic is traded on the "over-the-counter - bulletin board" under the symbol BSIC. Basic's web site is at http://www.basicearth.net where additional information about the Company can be accessed.

Information herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "should," "may," "will," "anticipate," "estimate," "intend" or "continue," or comparable words or phrases. In addition, all statements other than statements of historical facts that address activities that Basic intends, expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of Basic, particularly the Company's Quarterly Report on Form 10-QSB for the quarters ended June 30, September 30 and December 31, 2007 in addition to the Company's Annual Report on Form 10-KSB for the fiscal year ended March 31, 2007, for meaningful cautionary language disclosing why actual results may vary materially from those anticipated by management

[Statistix]

Die Produktion von BSIC hat sich also verdoppelt!

Hier sehr schön zusammengefaßt:

http://www.investorvillage.com/smbd.asp?mb=4287&mn=2147&pt=m…

[Statistix]

Antwort auf Beitrag Nr.: 34.319.468 von Statistix am 17.06.08 20:19:06

Kleine Korrektur da sind 2 Wells zweimal drin. Hier die neue Tabelle: http://www.investorvillage.com/mbthread.asp?mb=4287&tid=5003…

[Statistix]

Tapfere kleine Aktie kämpft weiter um die 2,75.

[Statistix]

Ich könnte kotzen. Da hat uns der alte CFO (der ja nun weg ist) noch ein schönes Ei hinterlassen. Damit sind die 2.80 wohl erstmal gescheitert, der 10K verzögert sich ein bisschen und so auch die Realisation am Markt was hier momentan an Cashflow generiert wird...

Basic Earth to restate its financials

Basic Earth Science Systems Inc. said Wednesday it will file restated financials for its fiscal years 2006 and 2007.

The Denver company (OTCBB: BSIC) said it found an error in calculating the GAAP cost basis of its oil and gas properties. The mistake caused Basic Earth to understate GAAP basis income tax and overstate net income.

Basic Earth, an oil and gas exploration company, said it expects to make adjustments to its financials of $900,000 to $1.25 million.

Ray Singleton, president of Basic Earth, said the restatement won't affect the company's cash position or its EBITDA.

"The greatest and only cash impact the company foresees is the cost which will be incurred to prepare and complete the restatements and required disclosures," Singleton said in a statement.

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Naja immerhin gabs ja ganz interessantes aus bezüglich der Bakken.

Sollte man vor allem so sehen, dass BSIC da partizipiert hat um Know-How zu gewinnen. Schön zu lesen, dass man dabei auch noch ein klein bisschen Taschengeld verdient.

Basic Earth Provides Update on Dunn County Horizontal Bakken Well
Friday June 27, 8:30 am ET

DENVER, June 27 /PRNewswire-FirstCall/ -- Basic Earth Science Systems, Inc. (Basic) (OTC Bulletin Board: BSIC - News) reported that the Paulson 14-9H, a horizontal Bakken well in Dunn County, North Dakota, has been completed and is now on production. The well had its best day near the end of May when it produced 687 barrels of oil. During May, the well produced approximately 5,400 barrels of oil over 14 days for an average of 387 barrels of oil per day. It should be noted that on several days the well did not produce for a full 24 hours. Also during May, the well was flowing up the casing with over 1,500 psi of pressure. Once pressures moderate, we expect to check the wellbore for obstructions and install tubing to allow the well to produce up a tubing string. Once this more conventional configuration is established we will have a better idea of where production should stabilize. Basic has a 1.2469% working interest (0.9975% net revenue interest) in the well which is operated by Marathon Oil Company. Basic estimates that it has spent approximately $80,000 on this effort.

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"This is a small, but very nice addition to our Bakken exposure," commented Ray Singleton, President of Basic. "In related events, the success of offset wells near our Banks Prospect, a 13,000 acre horizontal Bakken project, has dramatically enhanced the viability of our acreage. As a result, the Company and its partners have been approached by several companies wishing to acquire a portion of Basic's acreage. While some offers are enticing, at this point, no agreements have been made. If we were to enter into an agreement, in addition to being fairly compensated for our investment and maintaining as much of our interest as possible, our objective would be to increase the effectiveness of the original joint venture agreement so that development could not be stalled by a handful of non-consenting owners. Regarding our future plans, the next few months should be exciting. With a number of diverse efforts both underway and in the planning process we continue to pursue opportunities that will have a strategic impact on the Company."

Founded in 1969, Basic is an oil and gas exploration and production company with primary operations in select areas of the Williston basin, the Denver-Julesburg basin in Colorado, the southern portions of Texas, and along the on-shore portions of the Gulf Coast. Basic is traded on the "over-the-counter -- bulletin board" under the symbol BSIC. Basic's web site is at http://www.basicearth.net where additional information about the Company can be accessed.

Information herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "should," "may," "will," "anticipate," "estimate," "intend" or "continue," or comparable words or phrases. Such forward-looking statements include, but are not limited to, statements regarding Basic's preliminary restated results and other items based on Basic's current expectations and involve risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the correction of the error referenced in the Company's recent Form 8-K, dated June 25, 2008, identification of additional accounting errors or corrections, and/or additional recommendations of the Audit Committee, and other risks detailed from time to time in Basic's SEC filings. Basic cautions that these factors, as well as other factors described in SEC filings, are among the factors that could cause actual results to differ materially from the expectations described in these forward-looking statements. Readers are encouraged to read the SEC reports of Basic, particularly the Company's Current Report on Form 8-K, in addition to the Company's Quarterly Reports on Form 10-QSB for the quarters ending June 30, 2007, September 30, 2007 and December 31, 2007 and the Company's Annual Report on Form 10-KSB for the fiscal year ended March 31, 2007, for meaningful cautionary language disclosing why actual results may vary materially from those anticipated by management

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Basic Earth Reports Record First Quarter Results
Thursday August 14, 8:47 am ET
Company Reports Year over Year Net Income up 381% on Revenue Growth of 107%

DENVER, Aug. 14 /PRNewswire-FirstCall/ -- Basic Earth Science Systems, Inc. (Basic) (OTC Bulletin Board: BSIC - News) Profitable independent oil and gas company engaging in the exploration, acquisition, development, operation, production, and sale of crude oil and natural gas in the United States, today announced its fiscal first quarter financial results for the quarter ended June 30, 2008.

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The Company reported oil and gas sales revenue increased 107% to $3,312,000 compared to $1,603,000 for the comparable quarter ended June 30, 2007. Net income increased 381% to $1,380,000 or approximately eight cents ($0.079) per share compared to net income of $287,000 (restated), approximately two cents ($0.017) per share for the comparable quarter ended June 30, 2007. The increase in oil and gas sales revenue and net income was due primarily to higher oil prices and increased crude oil and natural gas sales volumes relative to 2007. Other factors which contributed to our first quarter results may be referenced in the Company's most recent Form 10-Q filed with the Securities and Exchange Commission.

Ray Singleton, President of Basic Earth stated, "We are extremely pleased to announce these record results. Not only have we built a strong platform in which to leverage future growth, but we've demonstrated our ability to execute our business plan resulting in sizeable year over year earnings growth. With our Antenna Federal project's wells just now coming on-line in Colorado combined with current oil prices, we believe we are positioned to produce continued strong financial results for the rest of the year.

"In addition to our notable financial performance, we have successfully resolved our legacy issue relating to the prior restatement of financials. We have forged a positive relationship with our new auditors and look forward to working with them. Despite the considerable work load, and based on this mutually-beneficial relationship, we expect to file our first quarter report on time, a pattern anticipated to continue.

"In the field, we continue to move forward on operational plans disclosed in our most recent Form 10-KSB: primarily the Banks project and our new exploration project in northeast Montana, South Flat Lake. We look forward to seeing our Banks Prospect developed into the Banks Project by Panther Energy Company LLC, the new operator on the project. The Banks Project, if it is fully developed, could become the largest commitment of capital in Basic Earth company history.

"We currently estimate that we will commence drilling our Flat Lake Prospect in 3rd Q 2008, we have increased our operations budget for the first well to $1.4 Million dollars, of which Basic Earth share is budgeted to be $350,000. We have received the permit, and the drilling pad has already been constructed and is awaiting the arrival of the drilling rig later this fall. The Company continues to search for both natural gas and oil exploration and development drilling opportunities and investigate other strategic opportunities which may provide long-term growth potential."

Basic Earth is a profitable oil and gas exploration and production company with exposure to 68,153 gross (8,470 net) undeveloped acres. As of March 31st 2008, Basic Earth had working interest in 90 producing oil wells and 14 producing gas wells in North Dakota, Montana, Colorado, Texas and Wyoming, with reserves of 1,260,000 BOE and a PV-10 of $33,200,000. Founded in 1969, Basic Earth is traded on the "over-the-counter - bulletin board" under the symbol BSIC. Basic's web site is at www.basicearth.net where additional information about the Company can be accessed.

Information herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "should," "may," "will," "anticipate," "estimate," "intend" or "continue," or comparable words. In addition, all statements other than statements of historical facts that address activities that Basic intends, expects or anticipates will or may occur in the future are forward- looking statements. Readers are encouraged to read the SEC reports of Basic, particularly the Company's Annual Report on Form 10-KSB for the fiscal year ended March 31, 2008, for meaningful, cautionary language disclosing why actual results may vary materially from those anticipated by management.

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Die letzten Wochen war echte Schnäppchenzeit aber auch kaum Volumen zum sammeln . Ich muss den 10q noch durchlesen, da im EPS von 8ct wohl nur ein kleiner Teil der Wattenburg Produktion drin ist um das besser nach vorne projezieren zu können (hohe anfängliche Declinerate läuft dagegen). Aber ein Forward P/E unter 7 würde sich schon doll anhören!

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. Der Hammer. Ich hab nochmal die Hände aufgehalten die Tage. Was man so hört dreht sich der Bohrturm auf unserem Bakken-Prospect auch schon (Man lese nochmal die PR mit dem Deal mit Panther-Energy). Dieses Well ist komplett ohne Risiko für BSIC. Und Wells in der Gegend machen so 300 bbl/d