Odyssey Petro - extrem günstiger Produzent - 500 Beiträge pro Seite

[richardkarlsen]

Das Unternehmen sieht sehr interessant aus, scheint aus dem Winterschlaf aufzuwachen

http://www.odysseypetroleum.com/

[richardkarlsen]

Antwort auf Beitrag Nr.: 37.958.390 von richardkarlsen am 10.09.09 22:06:01

wird mit weniger als 1% of discounted NPV reserve value bewertet

20% of per flowing barrel valuation

50% of annual sales

haben 40 mio. in die Infrastruktur investiert

produzieren im moment, haben riesiges potential

[richardkarlsen]

http://www.odysseypetroleum.com/presentation/Odyssey_Investo…


wir haben den boden gefunden!

[MFC500]

Wie erklärt sich der drastische Kurseinbruch selbst zu Hochzeiten beim Ölpreis?

[richardkarlsen]

denke das hatte auch was mit dem debt settlement mit Trafalgar zu tun,
das ist jetzt aber gesettled, sodass sich alles wieder ins positive wenden könnte.



Odyssey Petroleum buys TransAmerican Mississippi assets


2009-09-02 18:15 ET - News Release

Ms. Whitney Pansano reports

ODYSSEY INCREASES HOLDINGS IN MISSISSIPPI

Odyssey Petroleum Corp. has reached an agreement with TransAmerican Energy Inc., pursuant to which TransAmerican has agreed to sell all of its Mississippi oil and gas assets to Odyssey (which is the operator of the assets), in consideration for the assumption by the company of $3,017,300 debt owing by TransAmerican to Trafalgar Capital Specialized Investment Fund FIS, a secured lender.

The company has further agreed that it will invest not less than $600,000 (U.S.) in required work to be conducted in respect of the assets. The company has also agreed to assign to Trafalgar 25 per cent of gross revenue to pay down the assumed debt, after deducting royalties and taxes only, but before deducting operating costs, from the acquired assets, and further agreed to fix the euro/U.S.-dollar exchange rate based on the exchange rate as at July 31, 2009, which will be used to convert the assumed indebtedness from $3,017,300 (Canadian) to $2,743,000 (U.S.), which will be the total amount due, without penalties, interest or bonuses. In the event that the euro strengthens significantly against the U.S. dollar during the term of the debt obligation, an adjustment on payments or redemptions will be made.

Once the transfer and assignment have occurred, Odyssey will grant a general security agreement and specific mortgages in favour of Trafalgar, charging all of Odyssey's right, title and interest in and to the acquired assets.

Further, in regard to a prior debt obligation of $1.5-million between Odyssey and Trafalgar entered into on Oct. 27, 2007, Trafalgar has agreed to an extension to the original repayment schedule with all principal and interest now to be repaid by Oct. 31, 2010.

[richardkarlsen]

Antwort auf Beitrag Nr.: 37.958.683 von MFC500 am 10.09.09 22:49:14

in den letzten monaten bestand die gefahr, dass ODE die projekte verlieren könte, diese Gefahr besteht nun nicht mehr.

[Assetpfleger]

"Developing significant oil and gas reserves
in the Southern United States"

Öl in den USA?

Gab es da nicht dieses Peak-USA-Problem seit den 70ern?

Hier:

[richardkarlsen]

warten wir mal ab, ob die noch ein paar tröpfchen aus dem boden bekommen, oder ob alle quellen trocken sind.

[snafur]

Der Halbjahresbericht http://www.odysseypetroleum.com/files/ODQ2FIN.pdf liest sich ja wie die reinste Horrorshow.
Die Geier kreisen schon, der Laden ist so gut wie pleite.

[Assetpfleger]

Antwort auf Beitrag Nr.: 37.959.563 von richardkarlsen am 11.09.09 08:32:18

"warten wir mal ab, ob die noch ein paar tröpfchen aus dem boden bekommen, oder ob alle quellen trocken sind."

Sicher gibt es noch Öl in den USA, große Mengen sogar, das zeigt ja die Graphik in Post #7.

Allerdings sucht man in den USA doch schon seit 1859, das dürfte das am meisten abgegraste Land der Welt sein, oder sollte ich mich täuschen? Und die Idee in den USA zu explorieren wirkt daher schon nahezu absurd.

Das Öl das (noch) da ist gehört wohl schon Exxon Mobile & Friends...

[richardkarlsen]

Antwort auf Beitrag Nr.: 37.960.880 von snafur am 11.09.09 11:02:26

denke da ist keine grosse, gefahr, dass sie pleite gehen!
12 mio. Cash Flow pro Jahr!

[richardkarlsen]

niemand mehr hier?

[richardkarlsen]

heute gutes volumen. jetzt 4 cent in canada

[spock05]

Antwort auf Beitrag Nr.: 38.013.105 von richardkarlsen am 18.09.09 20:33:59

Hallo,

warte schon seit 2 Jahren darauf das sich in D endlich mal was tut.
Geduld scheint wohl belohnt zu werden.

Gruss

[richardkarlsen]

chart sieht gut aus, eine menge luft nach oben, 10 cent könnten durchaus realistisch sein.

[richardkarlsen]

4,5 cent in canada.

es geht wieder bergauf.

[richardkarlsen]

heute 5 cent.

[richardkarlsen]

interessante zusammenfassung

http://www.odysseypetroleum.com/news/sep23-2009.html

[richardkarlsen]

sorry, meinte das hier.

http://www.energymarketwatch.net/

[richardkarlsen]

denke wir haben noch eine menge luft nach oben!

Odyssey Petroleum Corp. (TSX-V: ODE) is now at an inflection point as an emerging oil and gas exploration and production company with significant land based reserves in the Southern United States containing multiple productive zones 7,500 ft to 17,000 ft subsurface. ODE.V possesses large reserves at depth with proven and probable reserves of 50,000,000 (BOE). Since inception in 2005 Odyssey has created a small base of production from wells at shallower depths through a highly skilled, cost effective, in-house workforce and hands-on management. Odyssey now feels they are securely in position to exploit the deeper known reserves, a move which will propel Odyssey to large production status/cash flow. 3D imaging of the first wells targeted at the ~17,000 ft zone of the reserves will be completed by the end of Q1 2010 and the results will be used to facilitate (operationally and financially) the drilling/production. Energy MarketWatch Journal has confirmed debt financing readily serviced by production is arranged to facilitate a two phased plan now underway. Phase one involves immediate action to boost production from current ~350 barrels per day to between 600 and 1000 through low risk development of work-overs -- this will occur while 3D imaging is being performed to set the stage for Phase 2 where the imaging results will have minimized risk and provide a means to drill and produce multiple wells drilled to ~17,000ft. Each deep well will cost ~USD$5M to drill yet is expected to yield 500 to 1000+ barrels of oil a day for 20+ years (4,000,000 barrels of oil and 4B cubic feet of gas from each well).



The risk-reward characteristics are highly advantageous for investors establishing a long position in ODE.V now. With less than ~188M shares outstanding (208M after closing of recent private placement announcement) and trading under CDN$0.10 ODE.V is poised for significant upside revaluation. In light of the serious and imminent nature of new capitalization of the company to accomplish its goals it is not unreasonable for shares of ODE.V on a forward discounted bases trade and gravitate significantly higher in the interim.



"With proven and probable reserves of 50M barrels, the oil is there for the taking and the 3D imaging of targets will provide the means (operationally and financially) to facilitate drilling/production of deep reserves. ODE.V shares are poised for significant upside revaluation according to accepted valuation metrics of USD$50K per flowing barrel plus stored value of reserves; the current market cap under $15M justifies a multiple upward valuation adjustment as it is now trading at less than 1% of discounted NPV reserve value and under its $20M infrastructure value. The company has made arrangements to replace what nominal debt it has so it may be serviced interest only and capitalize a two-phased plan to move towards major production of its reserves, this will lead to a shift in valuation of its reserves to 'proven, developed, and producing'."

[richardkarlsen]

6 cent in canada

[richardkarlsen]

http://www.sectornewswire.com/release092509ode.htm

[richardkarlsen]

Feature Article September 25, 2009:



Odyssey Petroleum Corp. Set to Readily Increase Near Term Oil Production and Complete 3D Imaging of First Targets to Produce Large Deep Reserves



ODE.V represents exceptional value and is poised for significant upside revaluation



Odyssey Petroleum Corp.

(TSX-V: ODE) (Frankfurt: YQN) (US Listing: ODEFF.PK)



Odyssey implements two-phased plan;

1) Rapidly and readily increasing production (from current ~350 barrels per day to between 600 and 1000) within a few months through low risk development of known oil and gas deposits to increase cash flow.

Odyssey has 15 cased hole reentry projects on the drawing board where oil is known to exist in quantity in untapped layered zones at various levels (up to 25 per hole). These are expected to quickly increase production by more than 600 barrels of oil per day. Energy MarketWatch has confirmed each work-over costs less than USD$200K all-in (including pumping units) and should generate 50 - 100+ barrels a day each.

2) Facilitate a move to drill deep and realize the large reserves Odyssey possesses at depth.

ODE.V possesses large reserves at depth with proven and probable reserves of approximately 50,000,000 (BOE). Seismic surveys, geological mapping, and actual drilling indicate 40 to 50 million barrels of oil in deep formations at their majority owned Pelahatchie field. Odyssey has yet to tap this known ocean of oil and is setting up to take the company to major production; 3D seismic imaging of targets should be completed by the end of Q1 2010 and will set ODE.V up to drill and produce multiple wells drilled to ~17,000ft. Each deep well will cost ~USD$5M to drill yet is expected to yield 500 to 1000+ barrels of oil a day for 20+ years (4,000,000 barrels of oil and 4B cubic feet of gas is expected from each well, a significant yield at ~$1 - $2/barrel cost).
Notes from the Editor on Featured Article:



Valuation Commentary: Odyssey Petroleum Corp. (TSX-V: ODE) is now at an inflection point as an emerging oil and gas exploration and production company with significant land based reserves in the Southern United States containing multiple productive zones 7,500 ft to 17,000 ft subsurface. ODE.V possesses large reserves at depth with proven and probable reserves of 50,000,000 (BOE). Since inception in 2005 Odyssey has created a small base of production from wells at shallower depths through a highly skilled, cost effective, in-house workforce and hands-on management. Odyssey now feels they are securely in position to exploit the deeper known reserves, a move which will propel Odyssey to large production status/cash flow. 3D imaging of the first wells targeted at the ~17,000 ft zone of the reserves will be completed by the end of Q1 2010 and the results will be used to facilitate (operationally and financially) the drilling/production. Energy MarketWatch Journal has confirmed debt financing readily serviced by production is arranged to facilitate a two phased plan now underway. Phase one involves immediate action to boost production from current ~350 barrels per day to between 600 and 1000 through low risk development of work-overs -- this will occur while 3D imaging is being performed to set the stage for Phase 2 where the imaging results will have minimized risk and provide a means to drill and produce multiple wells drilled to ~17,000ft. Each deep well will cost ~USD$5M to drill yet is expected to yield 500 to 1000+ barrels of oil a day for 20+ years (4,000,000 barrels of oil and 4B cubic feet of gas from each well).



The risk-reward characteristics are highly advantageous for investors establishing a long position in ODE.V now. With less than ~188M shares outstanding (208M after closing of recent private placement announcement) and trading under CDN$0.10 ODE.V is poised for significant upside revaluation. In light of the serious and imminent nature of new capitalization of the company to accomplish its goals it is not unreasonable for shares of ODE.V on a forward discounted bases trade and gravitate significantly higher in the interim.



"With proven and probable reserves of 50M barrels, the oil is there for the taking and the 3D imaging of targets will provide the means (operationally and financially) to facilitate drilling/production of deep reserves. ODE.V shares are poised for significant upside revaluation according to accepted valuation metrics of USD$50K per flowing barrel plus stored value of reserves; the current market cap under $15M justifies a multiple upward valuation adjustment as it is now trading at less than 1% of discounted NPV reserve value and under its $20M infrastructure value. The company has made arrangements to replace what nominal debt it has so it may be serviced interest only and capitalize a two-phased plan to move towards major production of its reserves, this will lead to a shift in valuation of its reserves to 'proven, developed, and producing'."

Source: Market Equities Research Group



Content found herein is not investment advice see Terms of Use, Disclosure & Disclaimer



Figure 1. Subject Company's Logo

Odyssey Petroleum Corp. (TSX-V: ODE)



Odyssey Petroleum Corp. is a North American oil and gas exploration and production company listed on the TSX Venture Exchange (ticker symbol ODE) (Frankfurt: YQN) (US Listing: ODEFF.PK). The Company has come to our attention due, in part, to the exceptional opportunity afforded shareholders as ODE.V increases production/cash flow and gears up to take what is believed to be one of the largest known unexploited deep reserves found onshore in a single location in southeast North America into production. Odyssey's Pelahatchie field in Mississippi has significant reserves at 14,000ft - 17,000ft where seismic surveys indicatee 40 to 50 million barrels of oil trapped in productive formations.





Figure 2. Drilling at Pelahatchie Image of ODE.V crew conducting final drilling of Karges 1A well which is now in production. Odyssey has a well trained work force of ~20 men. The Company does full operations itself and is able to operate wells at less than 20% of what others do as ODE.V does not require the use of outside service companies.

Since inception in August 2005 Odyssey Petroleum has grown revenues from $3.5M in year one to ~$12M in revenue in 2008 with ~$1.6M in profits. Despite the market downturn (last half of 2008 to the first quarter of 2009) Odyssey has managed to come through the first six months of 2009 in a break even position and with improving prices is coming back on track. Current production sits at ~350 barrels per day with plans to capitalize production increases over the next months to between 600 and 1000 through low risk development of work-overs with several re-entry case hole wells ready to increase production. This figure could also be augmented with new wells where geological data places several targets on the drawing board at 12,500ft. A 12,500ft well can be drilled at a cost of between $1M - $1.5M and can be expected to yield 500,000 - 1M barrels of oil. In Odyssey's case such drilling is 'low risk' as if it turns out the geological data proves to be incorrect Odyssey has multi-stacked pay zones in these targeted wells which allows them to simply complete up-hole should deeper targets be missed, so they don't end up with a dry hole situation. Production wise Odyssey can be relatively stable; ODE.V has only spent a nominal ~$10M in development since inception to stabilize production in the 300-400 barrel/day range and is now poised to ramp production higher. The bulk of the company's ~$44M expenditures to date have been spent on acquisition of properties from a variety of companies that owned pieces of their fields to the point where Odyssey now possesses 5 fields (4,500+ acres) in Mississippi with deep reserves predominantly on their majority owned Pelahatchie field which has an estimated 50,000,000 (BOE) that when tapped will dramatically transform ODE.V. -- with the capitalization and implementation of their two phased plan Odyssey has a good shot of taking the company to that next level.



The next level

A move to drill deep and realize potential of large reserves will transform ODE.V

Zone
Depth
Est. Reserves

Lower/Upper Cretaceous
5,000ft - 12,800ft
5 Million Barrels Oil

Cotton Valley reserves
12,800ft - 15,000ft
7.3 Billion Cu Ft. Gas

7.3 Million Barrels Oil

Buckner/Haynesville
15,000ft - 15,900ft
8.9 Billion Cu Ft Gas

15 Billion Cu Ft CO-2

Smackover Reserves
15,900ft - 16,900ft
53.3 Billion Cu Ft Gas

1.1 Million Tons Sulfur

200 Billion Cu Ft CO2

Norphlet Reserves
17,000ft - 17,300ft
25 Million Barrels Oil

24.3 Billion Cu Ft Gas


Figure 3. Estimated Pelahatchie Field Reserves Oil at 17000ft is the ultimate goal. ODE.V could develop some of the shallower zones to 12000ft that are relatively easy to drill to, building up production, and then go for the deeper larger yielding pays that are more expensive.

Odyssey Petroleum Corp. possesses large reserves at depth with estimated proven and probable reserves of 50,000,000 (BOE). Seismic surveys combined with geological and drilling data ndicate 40 to 50 million barrels of oil at their majority owned Pelahatchie field. Odyssey has yet to tap this known ocean of oil and is setting up to take the company to major production. 3D imaging of the first targets should be completed by the end of Q1 2010 and will set ODE.V up to drill and produce multiple wells drilled to ~17,000ft. Each deep well will cost approximately ~USD$5M to drill yet is expected to yield 500 to 1000+ barrels of oil a day for 20+ years; 4,000,000 barrels of oil and 4B cubic feet of gas from each well.



In an industry where it is normal to pay $8 to $18 per barrel for proven reserves, then incur development costs, shareholders can expect Odessey to take their reserves into production at a cost of between $1 - $2 per barrel.



Odyssey has extensive reserve studies completed by Fletcher Lewis of Oklahoma as well as over 30 years of drilling, production and geological data and historical information. The future income potential of the known oil & gas at depth categorized as 'proven & probable' at current market prices is well in excess of USD$3,000,000,000.00, plus secondary and tertiary methods employed later could probably double the amount of reserves recovered.



The President and COO of Odyssey Petroleum Corp. Whitney J. Pansano was contacted by Energy Market Watch Journal in conducting research for this article. Whitney Pansano explained how advanced technology is instrumental in achieving near term production goals, has brought about a change in economics for deeper drilling, and will also allow financing of deeper targets going forward on an individual bases "Odyssey is very successfully using case hole technology to be able to go into holes already drilled. Odyssey has a number of holes they haven't gotten to yet just because of lack of money, I have 15 re-entries of case hole wells already on the drawing board -- some of the oil zones that were over looked years ago when the wells were drilled are now plainly visible to us; it's just like an x-ray machine, in the 1960s you would need a 20ft zone for it to show effects on a log - now the logs are so good that you can almost read inch by inch. So many of your 4 and 5 foot zones that were passed up in the 60s we see now and a lot of those are very productive; 5 feet carrying over 100 acres may give you 100,000+ barrels of oil, that might not sound like much but you'll probably spend well under $100K (plus another $100K in a new pumping unit and related equipment) in getting that zone and you are looking at a return of $8,000,000 on a well that might have been abandoned 15 years ago. So increasing near term production to 600 or 1000 barrels per day with minimal capital is easily within reach." Whitney Pansano also pointed out that on new drilling the undertakings are still 'low risk' in nature because the oil they are drilling for is already found "this is strictly development of known oil & gas deposits and easily provable."



Change valuation from 'proven undeveloped' to 'proven producing'

On a 50,000,000 barrel reserve which Odyssey Petroleum Corp. now possesses, if it were given a 'proven developed producing' type reserve evaluation using accepted valuation metrics then it would be appropriate to attribute $12-14 per barrel in the ground (potentially resulting in a valuation of ~$500M). It is evident that a significant upside share price revaluation is in store for ODE.V shareholders as Energy Market Watch Journal has confirmed with Joe DeVries, Chief Executive Officer & Director of Odyssey Petroleum Corp. that the company is being capitalized to implement a two phased plan to take the Company to a self sustaining rapid production growth position. In light of the serious and imminent nature of this capitalization of the company to accomplish its goals it is not unreasonable for shares of ODE.V on a forward discounted bases trade and gravitate significantly higher in the interim.



Energy Market Watch Journal queried Joe DeVries the Chief Executive Officer & Director of Odyssey Petroleum Corp. on how commodity price changes have affected Odyssey's strategic plan, Joe DeVries said "The company initially had a strategy that if prices had held above USD$85/barrel oil, which is what most people had predicted, we we're on track to cash flow the company to a debt free status with the intention of then going out to the markets for further financing." Given what happened in the markets mid last year this was not achievable. Joe DeVries explained what arrangements have been made now to capitalize the Company to achieve near term production goals and complete 3D imaging of the first deep reserve targets that will take Odyssey to that 'next level'; "We are going to look to increase our production to over 600 barrels per day which we can achieve through the anticipated funding that we are looking at of ~$7.5M on a consolidated debt bases, this will have convertibility, it will allow us to reverse our balance sheet to where our long term debt would sit between $7M and call it $8M against our long term assets of somewhere around $46M which is acceptable." This will allow ODE.V to save $130K/month that was being used to service principle and interest payments that was amortizing ~$2M worth of debt -- ODE.V has an easy ability to finance and support interest only on $7.5M which would clean up the balance sheet, increase their ownership, bring production up to over 600 barrels and facilitate its goal to tackle deep reserves taking Odyssey to the next level; "The other thing we are looking to prior to the end of the first quarter of 2010 is to do the new 3D seismic for the deep resources and after that take the geological data we have plus the new 3D seismic and either through an equity financing on a better understanding or a JV or a debt package – look to drill to 17,500ft and validate the deep reserves – it’s the big winner for the shareholders – it’s the big winner for the company overall and in those cases you would be blowing that 1000 barrels production target number out of the water because 3 three of those deep wells would in effect give us 2000 barrels per day on their own. So that number doesn’t become relevant anymore – albeit that capital prospect for those three wells with drill costs coming down it will still probably be to complete them all somewhere in the $20M range. But we believe that is financeable on the basis of proven undeveloped reserves with new 3D seismic and based on today’s prices and if you look at lets say 600 barrels per day average out of those three your capex return (on the $20M) would be $14M within 9 months after operating. [Note: These wells are expected to produce for 20+ years] The triangulation of development of those reserves – our goal would be to do that mid-late next year and the first drilling of that would give a valuation based on ‘proven and producing.’"



Regional Geology and History of Pelahatchie

Mississippi is the 14th largest oil producing state in the USA with consistently 18M to at least 20M barrels of production per year. The principal regional producer that most investors in the market place would be familiar with is Denbury Resource Corp.

Within Odyssey’s Mississippi holdings exists what is believed to be one of the largest known, yet unexploited onshore deep reserves of oil in a southeastern North America. Odyssey’s oil fields are located within Mississippi’s interior salt basin and contains multiple productive zones 7,500 ft to 17,000 ft subsurface. This oil was formed in a marine environment by the seas carrying very rich nutrients of animal and plant life and continually encroaching on the continent throughout millions of years. The sea would rise and deposit mud over the rich nutrients then recede and repeat the action eventually forming stacked zones built up over millions of years. Over time the organic matter was cooked out and turned to oil under 12,000+ft of overburden at great heat -- to this day the heat at 12,000ft is ~300 degrees F. The oil migrates until it reaches a trap, such as the salt domes or salt ridges under these fields. Because the salt is in a plastic-like state, overburden has created uplifts with the salt and these uplifts have formed traps that caught this oil. In early exploration, in the 1940s and 50s, early explorers like Shell and others used gravity sensors as a technique to detect the gravity pull over salt features -- it shows up as less dense than the rest of the earth. So a very early technique in Mississippi was for the oil companies geologists to travel up and down the highways using these gravity meters and home in on a number of salt features – in fact if you look at a map of Mississippi that would explain why wells are drilled in one location and yet there wasn’t anything drilled in 100 miles but yet they hit oil 100 miles away, it wasn’t ‘seismic’, the earliest exploration techniques were gravity meters and it turned out to be very successful. Odyssey’s features are salt features and they are multi stacked pay zones where unlike other areas in the world where you drill a well geologists are often aiming for one or two zones, Odyssey is aiming for 20 or more and if they miss 10 of them they don’t worry as they’re still not going to have a dry hole.

Pelahatchie was discovered in the early 60’s. American Petrofina (Fina Oil Company today) made the first discovery well at around 9800 ft (they drilled to 11,000). First wildcatting was performed and then they homed in and found where the oil was. Odyssey’s President and COO, Whitney Pansano, had the privilege of working with a Harold Karges, a geologist who came out of Shell then later became an independent geologist in this Mississippi area. Harold Karges was directly involved in all of the history of Pelahatchie and many other fields in Mississippi, he was V.P. for Love Petroleum which took leases in the field as a result of American Petrofina’s discovery and did some offset wells. Later Shell Oil Company came in and took a farm-in (the rights to go deeper) out on the deeper rights below 11,000ft as a result of seismic surveys that they had run in the Pelahatchie area. Shell was operating a major Smackover gas field about 30 miles from Pelahatchie and was looking to expand their deposits of gas. Harold Karges gave them the farm out and Harold even believed in it enough after looking at the seismic to participate privately as an individual in the drilling of wells that went to 17,900 ft. Shell had a plant and all the facilities to not only produce the gas but to extract the sulphur from it, there was a huge sulphur market at the time. When shell drilled their well they not only hit a huge gas deposit in Pelahatchie field, which is still there, but in going deeper they hit a horizon called the Norphelt formation zone that turned out to contain sweet crude and sweet gas (in other words it has no H2S, sulphur in it) it was the first discovery of that zone ever. Shell completed a couple of wells in it and it was billed at the time in all of the geological publications as ‘Mississippi Giant’. The wells produced (Whitney Pansano still has the daily production records) at 2,300 and 2,400 barrels of oil a day and over 2M cubic feet of gas. They drilled four wells to confirm the size of the discovery reservoir. One of the wells was junked in the process, it had mechanical trouble, two wells were completed as producers, and one well turned out to be at the edge of the reservoir and they didn’t try to produce it. But they saw the size.

It was the first time anyone had ever tried to produce this formation and Shell had production problems having to do with salt build up in the flow lines, they produced about 700,000 barrels of oil and stopped due to the technological impasse of salt build up. They were unaware at the time of the technological fix to the problem and left what reserve studies and seismic activity now indicate to be ~40 million - 50 million barrels of oil in this one zone. Fletcher Lewis conservatively gave reserve reports of ~32M barrels of oil and 32B cubic feet of gas too. Within a few years Shell lost their leases and Whitney Pansano was involved 20-some years ago in getting them from Shell. Other operators subsequently learned how to produce the zone, the particular problems they had then were solved and are now are routinely handled; when you complete a well you also install a dilution string so that you can circulate some fresh water down at the bottom and keep the salt dissolved and go ahead and produce your oil, a technique very successful employed now in the Norphlet zone, one of the major producing zones.





Figure 4. Location Map

Overview of Odyssey Petroleum's five oil & gas fields in Mississippi



Pelahatchie Field, Rankin County, Mississippi - Rankin County

Potential future revenue of $2.9 billion

Proven and probable reserves – 50,000,000 (BOE)

Multiple productive zones 7500 ft to 17,000 ft. subsurface and 4,300 acres

Most infrastructure in place, eight wells producing

Acquisition/development cost under $2 per barrel

Pelahatchie Field is located in central Mississippi, 20 miles east of Jackson, Mississippi. The Field was discovered in 1962 by an American company with production from the Mooringsport sand at 9,800’. Production was eventually established in fourteen additional Lower Cretaceous zones to 11,300’. Questionable drilling and production techniques by several independent operators combined with a lack of salt water disposal facilities, low oil prices and competing lease positions resulted in moderate production in the 1960s in the Cretaceous zones. In more recent years, operators have gone back into the Field and re-established production in many bypassed zones accumulating another 1,000,000 barrels of oil in these relatively shallow pay zones. This new drilling has extended the known limits of the productive area both to the north and south. Available data now indicates that the field covers approximately 5,000 acres of productive area and is over one mile wide and 2 miles long.

In a report dated March 1996, Harold Karges, the geologist who spent much of his career studying and participating in the development of Pelahatchie Field, estimated that there were almost 3,000,000 barrels of oil yet to be recovered in the shallow Lower Cretaceous zones to 12,000 ft subsurface in addition to the considerable deeper reserves. However, since that time with the new drilling having expanded the field limits, Odyssey now believes 5,000,000 barrels is a more valid estimate of oil reserves to be ultimately recovered from the Lower Cretaceous zones. Karges noted that 44 zones in the interval between 5,000’ and 12,800’ have had oil or gas shows or have had established production in the field. Many of the previously unsubstantiated potentially productive zones have not yet been tested.

[richardkarlsen]

jetzt wieder bei 6 cent!

[richardkarlsen]

es geht voran!!


Odyssey Petroleum Announces New Workover Plans
Sep 29, 2009 11:46:00 AM


Email Story Discuss on ZenoBank

View Additional ProfilesVANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2009) - Odyssey Petroleum Corp. (TSX VENTURE:ODE)(FRANKFURT:YQN) (the "Company" or "ODE") announces progress with its oil and gas development programs in the U.S. The following summarizes current activities:

New Workover Program Initiated for Pelahatchie Field

The Company has initiated operations to improve production in four previously drilled wells in the Pelahatchie Field. One such effort is driven by the results of new geological mapping in the field. Management recently commissioned a study of the production characteristics attributable to an excellent producing well in the southern-most part of the two mile long oil field. In the aforementioned mentioned well, the Company recompleted in the 10,500 ft Rodessa sand from a poorly performing zone in September 2006. Initially the well flowed at the rate of 400 barrels of oil per day, however it was immediately restricted by production personnel with a 8/64's choke to approximately 80-100 barrels of oil per day in order to protect the zone. Since that time the well has produced approximately 75,000 barrels of oil. After three years, the well still continues to average 65-70 barrels of oil per day, with good associated gas and little water.

Mapping indicates that this particular sand appears to be a fluvial point bar type of deposit that is trapped stratigraphically to the north and to the east against the Pelahatchie salt structure. Maximum thickness is 16 feet in a well in the northern portion of the field. Original oil in place over the 570 acres covered by this particular sand indicates that there are 2,055,606 barrels of oil in place (10,500 ft sand alone). Recoverable oil, estimated at 50% recovery is expected to be 1,027,803 barrels of oil. At Pelahatchie Field, as many as 38 stacked oil zones have been found, each at different horizons - some larger than others, and some more prolific than others.

The 10,500 ft sand in this recent study is present and appears to be saturated with oil in the majority of Odyssey's producing wells, in several shut in wells, and in a number of previously abandoned wells in the field. Utilizing data gained from the study, Odyssey intends to start immediately to access oil in this zone from a number of different wells (as one well will normally only drain approximately 40 acres). Re-completions in existing wells are expected to cost less than US$50,000 per well, and approximately US$150,000 in each closed in well, where tubular and a pumping unit must be purchased.

In addition to exploitation of this newly defined zone, new cased hole logs run in the wells recently drilled in the field have provided important new geological data that indicates many additional accumulations of oil at various depths in the wells. Company and independent geologists are studying and mapping formations utilizing this data, in order to provide insight into which zones have the best production characteristics and should be targeted for new re-completions in the field - all in the interest of increasing production.

About Odyssey Petroleum Corp. - Odyssey Petroleum Corp. is a Canadian based junior oil and gas company traded publicly under the symbol ODE on the TSX-V Exchange. The Company's mission is the discovery and development of economic oil and gas through the exploration of high quality projects located primarily in the Southeastern United States.

[richardkarlsen]

6,5 cents

[richardkarlsen]

niemand hier?
hoffe ihr kommt nicht erst wenn wir bei 10 cent stehen!

[richardkarlsen]

hier noch einmal eine Übersicht

http://www.energymarketwatch.net/

[richardkarlsen]

supernews: bald sind weitere 12 Quellen in Produktion!


Odyssey signs deal for Southeastern to finance 12 wells


2009-11-04 06:22 ET - News Release

Mr. Whitney Pansano reports

ODYSSEY PETROLEUM ENTERS INTO AGREEMENT FOR FINANCING THE RECOMPLETION OF TWELVE NON-PRODUCING WELLS

Odyssey Petroleum Corp. has entered into an agreement with Southeastern Oil and Gas LLC, which provides for an estimated $4-million (U.S.) expenditures to be made on 12 mutually selected non-producing, closed-in wells on ODE's properties in Mississippi. Under the terms of the contract, Southeastern has agreed to spend 100 per cent of the funds necessary to re-enter, evaluate and if warranted, do the necessary remedial work to recomplete and equip the wells for production. An estimated $250,000 (U.S.) to $400,000 (U.S.) will be required per well in order to drill out plugs where in place, complete cementing remedial work, run cased hole logs, perforate, test, and equip the wells with new pumping units and production tubing.

Upon completion of each well to the tanks, Odyssey will retain a 12.5-per-cent overriding royalty interest (free of any cost) until such time that Southeastern has recouped 100 per cent of its risked capital per well. After 100-per-cent payout, Odyssey may elect, at its own option, to convert the overriding royalty interest to 33-1/3-per-cent working interest in each well. Additionally, Southeastern will pay Odyssey $25,000 (U.S.) upon the commencement of each well.

Odyssey welcomes this investment, as recompleting and equipping these non-producing wells may add substantially to Odyssey's income without expenditure of its own funds, thus allowing Odyssey to concentrate its efforts on raising new funds for new developmental drilling. Odyssey will remain operator of the wells and will help supervise operations. Southeastern intends to commence operations within the next 30 days, and commit to completing one well at least each 90 days.

[richardkarlsen]

http://madisonaveresearch.com/peakoil.htm

Odyssey receives initial Southeastern financing

2009-12-22 14:20 ET - News Release

Ms. Whitney Pansano reports

ODYSSEY PETROLEUM ENTERS INTO AGREEMENT FOR FINANCING THE RECOMPLETION OF TWELVE NON-PRODUCING WELLS

Odyssey Petroleum Corp., further to its news release in Stockwatch of Nov. 4, 2009, has received the initial finances from Southeastern Oil and Gas LLC to initiate re-entry, evaluation and attempt to re-establish production of the F.J. Laughlin unit well in the company's Puckett field in Mississippi. This well, which last produced in 1994 from a gas zone, is the first well of the proposed 12-well development plan. Under the terms of the contract, Southeastern has agreed to spend 100 per cent of the finances necessary to re-enter, evaluate, and if warranted, do the necessary remedial work to recomplete and equip the well for production.

Upon completion of each well to the tanks, Odyssey will retain a 12.5-per-cent overriding royalty interest (free of any cost) until such time that Southeastern has recouped 100 per cent of its risked capital per well. After 100-per-cent payout, Odyssey may elect, at its own option, to convert the overriding royalty interest to 33-1/3-per-cent working interest in each well. Odyssey will remain operator of the wells and will help supervise operations.

[richardkarlsen]

http://madisonaveresearch.com/peakoil2010.htm

Odyssey Petroleum Corp. is a North American oil and gas exploration and production company listed on the TSX Venture Exchange (ticker symbol ODE) (Frankfurt: YQN) (US Listing: ODEFF.PK). Odyssey is increasing production/cash flow and gearing up to take what is believed to be one of the largest known unexploited deep reserves found onshore in a single location in southeast North America into production. Odyssey's Pelahatchie field in Mississippi has significant reserves at 14,000ft - 17,000ft where seismic surveys indicate 40 to 50 million barrels of oil trapped in productive formations.

Odyssey Petroleum Corp. is now at an inflection point as an emerging oil and gas exploration and production company with significant land based reserves in the Southern United States containing multiple productive zones 7,500 ft to 17,000 ft subsurface. ODE.V possesses large reserves at depth with proven and probable reserves of 50,000,000 (BOE). Since inception in 2005 Odyssey has created a small base of production from wells at shallower depths through a highly skilled, cost effective, in-house workforce and hands-on management. Odyssey now feels they are securely in position to exploit the deeper known reserves, a move which will propel Odyssey to large production status/cash flow. 3D imaging of the first wells targeted at the ~17,000 ft zone of the reserves will be completed by the end of Q1 2010 and the results will be used to facilitate (operationally and financially) the drilling/production. Energy MarketWatch Journal has confirmed debt financing readily serviced by production is arranged to facilitate a two phased plan now underway. Phase one involves immediate action to boost production from current ~400 barrels per day to between 600 and 1000 through low risk development of work-overs -- this will occur while 3D imaging is being performed to set the stage for Phase 2 where the imaging results will have minimized risk and provide a means to drill and produce multiple wells drilled to ~17,000ft. Each deep well will cost ~USD$5M to drill yet is expected to yield 500 to 1000+ barrels of oil a day for 20+ years (4,000,000 barrels of oil and 4B cubic feet of gas from each well).

[richardkarlsen]

mal schauen was nächste woche passiert, chart sieht recht gut aus.

[hbg55]

....KEINER mehr da


scheint MIR, als würde hier allmählich bewegung rein
kommen.....




RT...cad 0,035

[hbg55]

Antwort auf Beitrag Nr.: 39.318.401 von hbg55 am 12.04.10 20:26:00

Recent Trades - All 9 today

Time ET Ex Price Change Volume Buyer Seller Markers

14:32:35 V 0.035 0.00 20,000 79 CIBC 33 Canaccord K
14:20:59 V 0.035 0.00 10,000 79 CIBC 33 Canaccord K
14:18:58 V 0.035 0.00 100,000 7 TD Sec 33 Canaccord K
11:42:50 V 0.035 0.00 20,000 79 CIBC 33 Canaccord K
11:42:50 V 0.035 0.00 12,000 7 TD Sec 33 Canaccord K
09:47:57 V 0.035 0.00 30,000 7 TD Sec 2 RBC K
09:47:15 V 0.035 0.00 4,000 7 TD Sec 1 Anonymous K
09:30:00 V 0.035 0.005 750 89 Raymond James 7 TD Sec E
09:30:00 V 0.04 0.005 3,000 85 Scotia 33 Canaccord KL

[hbg55]

...auch der CEO hat jüngst abisl zugeschnappt..........


http://www.canadianinsider.com/coReport/allTransactions.php?…

[hbg55]

voller dynamik starten wir in den letzten handelstag der
woche.........


Recent Trades - Last 10 of 62

Time ET Ex Price Change Volume Buyer Seller Markers

09:58:26 V 0.025 0.01 38,000 7 TD Sec 1 Anonymous K
09:57:20 V 0.025 0.01 12,000 19 Desjardins 1 Anonymous K
09:57:04 V 0.025 0.01 140,000 7 TD Sec 7 TD Sec K
09:57:04 V 0.025 0.01 14,000 7 TD Sec 89 Raymond James K
09:55:25 V 0.025 0.01 1,000 7 TD Sec 89 Raymond James K
09:55:25 V 0.025 0.01 55,000 7 TD Sec 1 Anonymous K
09:55:25 V 0.025 0.01 10,000 7 TD Sec 1 Anonymous K
09:54:28 V 0.025 0.01 27,000 19 Desjardins 1 Anonymous K
09:54:27 V 0.025 0.01 753 89 Raymond James 85 Scotia E
09:54:26 V 0.025 0.01 16,000 19 Desjardins 7 TD Sec K


...bis jetzt schon 2,5mios gehandelt !!!

[hbg55]

....wooooow, was geht hier heute UPPPPPPPPPPPP...........





RT jetzt schon...cad 0,03


wohl nicht mehr lange nach dem 700k- trade von eben !!!!

[richardkarlsen]

ja sieht auf jeden fall interessant aus. denke irgendeine news sollte kommen. volumen ist verdächtig hoch.

[hbg55]

Antwort auf Beitrag Nr.: 39.523.630 von richardkarlsen am 14.05.10 19:38:22

soooo seh ICHs auch.....an solch tiefrotem tag sehen wir hier
höchste vols. des jahres......da scheint mächtig was im busch
zu sein......IMO

[richardkarlsen]

könnte mir vorstellen, dass sie endlich eine finanzierung haben oder einen finanzstarken partner. die projekte sind top, nur fehlt ihnen finanzierung.

[hbg55]

Antwort auf Beitrag Nr.: 39.523.812 von richardkarlsen am 14.05.10 20:05:09

...wäre wünschenswert, wenn news über abgeschl. finanz. käme,
wobei ich mich schon frag, warum sich dies angesichts solcher
qualitäts- proj. als soooo schwierig erweist


hab mir grad nochmal die akt. pres. zu gemüte geführt, die
obigen eindruck unterstreicht...........

http://www.odysseypetroleum.com/presentation/Odyssey_Investo…


nunja, warten wirs mal ab, welch news uns da nächsttägig
erreichen

[richardkarlsen]

denke eine finanzierung sollte kein problem sein, die frage ist halt nur zu welchen konditionen. Denke die Assets von ODE sollten bei einer Zerschlagung min. 50 bis 60 Mio. Dollar wert sein.

Bei der aktuellen Marktkapitalisierung von etwa 4 Mio. sollte noch eine Menge Luft nach oben sein.

[hbg55]

....im vorfeld des für MORGEN angekündigten ´annual financial statements´ sehen wir lebhafen handel bei den CANs............


2010-05-28 15:09 ET - News Release

Mr. Joe DeVries reports

ODYSSEY PETROLEUM CORP.: DEFAULT STATUS REPORT-PURSUANT TO NATIONAL POLICY "12-203"

Odyssey Petroleum Corp., further to Stockwatch news on April 28, 2010, has not yet been able to finalize its annual audited financial statements for the year ended Dec. 31, 2009. In addition, the company has not yet received the requested management cease trade order from Canadian securities regulators, as disclosed in Stockwatch on April 28, 2010. Accordingly, the notice of default as set out in that news release remains unchanged.

The company's wholly owned subsidiary, Odyssey Petroleum Corp. (U.S.), has now secured court approval for postpetition financing in an amount not to exceed $300,000 (U.S.), prior to a final hearing, where the company proposes that the financing be increased to $1-million (U.S.). The debtor in possession financing is a revolving line of credit and is being provided by Iroquois Capital Opportunity Fund LP, a Delaware limited partnership.

The company expects its annual financial statements to be completed by June 7, 2010, and filed on or about June 9, 2010. Upon completion and filing of the annual financial statements, the company will file its first quarter interim financials for the period ended March 31, 2010, which are due to be filed by May 31, 2010.

The company intends to satisfy the provisions of 12-203 by continuing to file a biweekly default status report containing the information prescribed by 12-203, as long as the company remains in default of the financial statement filing requirement.

We seek Safe Harbor.


Recent Trades - Last 10 of 36

Time ET Ex Price Change Volume Buyer Seller Markers


13:05:12 V 0.02 0.005 500 89 Raymond James 85 Scotia E
13:05:12 V 0.02 0.005 12,000 99 Jitney 85 Scotia K
11:54:29 V 0.025 0.01 20,000 19 Desjardins 19 Desjardins K
10:54:12 V 0.025 0.01 10,000 79 CIBC 99 Jitney K
10:50:45 V 0.02 0.005 28,000 19 Desjardins 79 CIBC K
10:50:45 V 0.02 0.005 3,000 99 Jitney 79 CIBC K
10:50:45 V 0.02 0.005 1,000 99 Jitney 79 CIBC K
10:50:45 V 0.02 0.005 30,000 7 TD Sec 79 CIBC K
10:50:45 V 0.02 0.005 96,000 145 Woodstone 79 CIBC K
10:50:45 V 0.02 0.005 42,000 9 BMO Nesbitt 79 CIBC K

[hbg55]

....es kommt wieder schmackes rein.........nachfolg. meldung kann zur wende
werden...........


Odyssey Arranges Financing for U.S. Subsidiary and Proposes Consolidation and Name Change

VANCOUVER, BRITISH COLUMBIA, Sep. 17, 2010 (Marketwire) -- Further to our News Release of April 27, 2010 disclosing that ODE's wholly-owned Mississippi subsidiary, Odyssey Petroleum Corp. (U.S.) ("Odyssey US"), filed under Chapter 11 of the United States Bankruptcy Code for protection from its creditors, the Company further announces that it has agreed to a proposed plan of reorganization under the Bankruptcy Code (the "Plan"), pursuant to which the Company will exchange all its right, title and interest in Odyssey US and all other assets of the Company and Odyssey US located in Mississippi or related to its assets located in Mississippi in consideration of US$8,200,000 funding for the Plan.

Iroquois Capital Opportunity Fund ("IOC") will invest US$6,700,000 in equity and will receive 800 shares of new common stock in a reorganized Odyssey US as of the effective date. IOC will also provide a US$1,500,000 convertible debenture bearing interest at 12% per annum, convertible into 333 shares of the authorized common stock of the reorganized Odyssey US. In addition, the reorganized Odyssey US will assume approximately US$5,835,000 in debt for contracts and unexpired leases, and will pay the Company US$900,000.

The Company will receive 200 shares of new common stock in the reorganized Odyssey US, such that the Company's holdings in the reorganized Odyssey US will constitute 20% of such issued common stock in the reorganized Odyssey US as of the effective date.

The implementation of the Plan will effectively result in the disposition of 80% of the Company's interest in Odyssey US. The provisions of Section 301 of the Business Corporations Act (British Columbia) require a company to obtain shareholder approval by special resolution in the event it sells, leases or otherwise disposes of all or substantially all of its undertaking. A special resolution is a resolution passed by shareholders owning at least two-thirds of the votes cast on the resolution. The Company has scheduled an Annual and Special General Meeting to be held on October 15, 2010 (the "AGM").

The Company has signed a lock up agreement with IOC in support of the proposed Plan, subject to: (a) the shareholders of the Company approving the Plan at the AGM; (b) the Bankruptcy Court confirming the Plan; and (c) the receipt by the Company of all required Canadian regulatory and stock exchange approvals.

Proposed Consolidation and Name Change:

The Company further announces that it intends to seek shareholder approval at the AGM to a proposed consolidation of its share capital on 20 old shares for one new share basis, or such lesser whole number of pre-consolidated shares that the directors in their discretion may determine, to be implemented by the Company's Board of Directors in its discretion. The Company also proposes changing its name to Petrichor Energy Inc., or such other name as may be approved by the regulatory authorities. The Company intends to disseminate a further News Release in regard to the consolidation and name change prior to effecting the same.

Update Default Status Report:

ODE also announces further to its Default Status Report of June 21, 2010, that on July 13, 2010, the Company filed its annual audited financial statements for the year ended December 31, 2009, and on July 14, 2010, ODE filed its first quarter interim financials for the period ended March 31, 2010. However, the management cease trade order received from the B.C. Securities Commission on June 18, 2010 remains in effect until ODE is able to file its NI 51-101 oil and gas forms disclosing information as at December 31, 2009, which were required to be filed at the same time as the year end audited financial statements. The Company anticipates filing this report by October 15, 2010.

ODYSSEY PETROLEUM CORP.

Joe DeVries, Chief Executive Officer

Forward-Looking Statements:

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in ODE's periodic filings with Canadian and European Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. ODE does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Odyssey Petroleum Corp. Chief Executive Officer [phone] [phone] (FAX) www.odysseypetroleum.com

[hbg55]

Antwort auf Beitrag Nr.: 40.185.757 von hbg55 am 21.09.10 16:07:11

...sehen seither sprunghaften kurs- und vol-anstieg......auch HEUTE wieder....


Recent Trades - Last 10 of 24
Time ET Ex Price Change Volume Buyer Seller Markers

10:07:04 V 0.02 0.01 5,000 1 Anonymous 124 Questrade K
09:55:50 V 0.02 0.01 150,000 1 Anonymous 79 CIBC K
09:40:21 V 0.025 0.015 5,000 85 Scotia 9 BMO Nesbitt K
09:38:42 V 0.02 0.01 500 89 Raymond James 2 RBC E
09:38:42 V 0.02 0.01 100,000 1 Anonymous 85 Scotia K
09:38:42 V 0.02 0.01 20,000 1 Anonymous 7 TD Sec K
09:38:42 V 0.02 0.01 126,000 1 Anonymous 7 TD Sec K
09:38:42 V 0.02 0.01 9,000 1 Anonymous 2 RBC K
09:38:42 V 0.02 0.01 7,000 1 Anonymous 145 Woodstone K
09:38:42 V 0.02 0.01 48,000 1 Anonymous 145 Woodstone K