DeeThree - Peace River Arch - Brazeau area - Alberta - 500 Beiträge pro Seite

[snafur]

Schöne News heute, ein Explorer mit Substanz und einem Marktwert von "nur" 440 Mio CAD.
Wenn alles weiter so läuft, sollte noch viel Luft nach oben sein, was den Aktienkurs betrifft.

Homepage: http://www.deethree.ca


DeeThree's Belly River well flows 1,920 boe/d

2013-04-08 08:42 ET - News Release

Mr. Martin Cheyne reports

DEETHREE EXPLORATION LTD. ANNOUNCES A 1580 BBL/D BRAZEAU BELLY RIVER OIL TEST

DeeThree Exploration Ltd. has released the results of a four-day production test of its most recent horizontal Belly River oil well in its Brazeau property. The company has a 100-per-cent working interest in the well.

After fracture stimulation, the well continued to flow for four days up the 4-1/2-inch frac string at an average rate of 1,770 barrels per day of 44-degree API reservoir oil and 1.6 million standard cubic feet per day of natural gas with a final rate of approximately 1,580 barrels per day of oil and 1.8 million standard cubic feet per day of natural gas (on a 1.5-inch choke at a wellhead pressure of 40 pounds per square inch). With expected conservation of produced natural gas for sale, this final test rate equates to approximately 1,920 barrels of oil equivalent per day (88 per cent oil and liquids). Final water cuts at the end of the test period were approximately 12 per cent.

The well was drilled to a planned total depth with a horizontal lateral of approximately 2,000 metres in an upper Belly River sand. The horizontal lateral was successfully fracture stimulated, placing 550 tonnes of sand over 19 stages using an energized water-based system. The well is currently shut-in for pressure work, and operations have begun to tie the well into the company's existing pipeline and facility infrastructure.

DeeThree has now drilled 18 Belly River horizontal wells in its Brazeau property, where it has more than 70 sections of high-working-interest Belly River lands. These wells are widely spread throughout its land base, and, with these wells, DeeThree has now proved significant productivity in six different distinct intervals within the Belly River zone. As well, production results have continued to improve as a result of DeeThree's rapidly increasing geotechnical understanding of the Belly River zone and improving drilling and completion techniques. DeeThree has now initiated a resource evaluation over its Brazeau Belly River lands.

DeeThree's drilling inventory in Brazeau continues to increase, with the company now having more than 100 horizontal drilling locations in inventory on its Belly River land base as a result of the success of its horizontal drilling program and the well control provided by historical vertical wells.

As a result of the success of its drilling program in the first quarter of 2013 and resulting expected production gains, DeeThree has undertaken a review of its 2013 capital program with the intent to further accelerate the exploitation of its Brazeau Belly River property and its Ferguson Alberta Bakken property. This review coincides with the annual review of DeeThree's credit facility. DeeThree anticipates announcing in mid-April the results of its credit facility review and updated guidance for 2013.

[snafur]

LOL

I don't think that the API of 44 is high enough. I suggest that next time they actually frack the local Exxon station and drain the 93 Octane tank directly.

[snafur]

Kommentar von Macquarie zur Nachricht heute:


DeeThree Soars 8.6%; ‘Fantastic Result’ at Belly River:Macquarie

By Divya Balji

April 8 (Bloomberg) -- DeeThree Exploration rose as much as
8.6%, most intraday since Feb. 25; “fantastic result” at Belly
River, Macquarie analyst Ray Kwan said in note.

* Remains top pick, “oily mid-cap idea": Macquarie
* Trades ‘‘cheaply’’ for peer-leading growth at 3.6x 2014 EV/DACF vs group 4x
* RSI to 44 from 33 on April 5
* Approaching 100-DMA
* DTX CN has 8 buys, 1 sell, PT C$9.16: Bloomberg
* DTX CN down 3.2% YTD vs SPTSX down 1%

[snafur]

Test results of last three Brazeau wells:
(1)665 bblpd oil&liquid, total 1346 boepd
(2)570 bblpd oil&liquid, total 770 boepd
(3)1580 bblpd oil&liquid, total 1920 boepd

These wells cost less than $5 M all in, anything above 500 bblpd initial production is excellent. DTX would have sky-rocketed if not for the bad market for oil/resources stocks.

Joe
(www.investorvillage.com)

[snafur]

Kommentar von Casimir Capital, Strong Buy, Target: $11

Das gesamte 7-Seiten PDF mit der Analyse findet sich hier: http://www.investorvillage.com/uploads/57776/files/DTXn0w.pd…

Latest massive Belly River well sees final test rate
at 1,920 boe/d from upper Belly River formation

DeeThree’s well results continue to impress, with
the latest Belly River well flowing at an IP4 of 1,770
bbls/d of oil and 1.6 mmcf/d of gas. After the initial
4-day production test, the well was flowing at
1,580 bbls/d of oil and 1.8 mmcf/d of gas. This
makes the well the biggest and oiliest well drilled in
Brazeau this year. The well was drilled to the upper
Belly River sands and horizontally fracced using an
energized water-based system. The well is now
being shut-in for pressure work and tie-in to
existing pipeline. DTX has 100% interest in the well.

A resource evaluation is currently underway and
we expect this should add a significant boost to
unbooked potential at DeeThree’s Brazeau
property based on latest flow rates.

Significant running room in Belly River play with
100 locations and credit facility review underway

An annual review of DeeThree’s credit facility is
underway and we expect the line could be
increased to ~$115 to $125mm, up from $90mm
currently. On this boost DeeThree is likely to
increase its capital spending from the previously
announced $150mm, 31 well program to drill an
additional 5 – 10 wells.

Maintaining Target of $11.00, Strong Buy

Our Target is derived from a blend of 6.0x
2013/2014 EV/DACF ($8.15/sh) with a 2013E Core
NAV ($6.68/sh) and risk adjusted EMV of future
upside ($8.78/sh).

[snafur]

Guidance und Kreditlimit wie angekündigt erhöht.
10000 Barrels Exit Rate für dieses Jahr, schön!
Bin mal auf die kommenden Bohrungen gespannt, wenn die auch so toll sind, wie die letzte wird das hier noch so richtig fett.

2013-04-24 08:16 ET - News Release

Mr. Martin Cheyne reports

DEETHREE EXPLORATION LTD. ANNOUNCES COMMITMENT FOR $135 MILLION CREDIT FACILITY AND INCREASED 2013 GUIDANCE

DeeThree Exploration Ltd.'s current syndicate of lenders have committed to an increase to the company's credit facility to $135-million from $90-million. The increase in the credit facility is expected to be finalized in late April 2013.

As a result of better than expected, and generally improving, drilling results, the Company has increased its guidance for 2013 as follows:

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                     Previous Guidance           Increased Guidance         

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Wells drilled        20 Alberta Bakken wells     20 Alberta Bakken wells    

                     11 Belly River wells        11 Belly River wells       

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Capital expenditures $150 million                $160 million               

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Average Production   6,800 -7,000 boe/d (76%     7,600 - 8,000 boe/d (76%   

                     Crude oil & NGLs)           Crude oil & NGLs)          

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Year End Exit        8,500 - 9,000 boe/d (81%    9,600 - 10,000 boe/d (81%  

 Production          Crude oil & NGLs)           Crude oil & NGLs)          

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Funds flow from                                                             

 operations          $100 million                $120 million               

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Forecast pricing     WTI - US$95.00/bbl          WTI - US$91.00/bbl         

 Assumptions         Aeco - CAD$3.20/mcf         Aeco - CAD$3.80/mcf        

                     Exchange rate - US$/CDN     Exchange rate - US$/CDN    

                     $0.99                       $0.99                      

                     Oil price differential -    Oil price differential -   

                     20% of WTI                  17% of WTI                 

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Projected year end                                                          

 net debt to Q4                                                             

 annualized cash                                                            

 flow                0.8:1.0                     0.7:1.0                    

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The Company has increased its 2013 capital expenditure budget primarily to expand facility infrastructure to accommodate future oil production increases in the Company's two core oil fields, the Brazeau Belly River and the Ferguson Alberta Bakken. In particular, the Company has commenced the process for the construction of a new 6" main pipeline at Brazeau to transport oil and natural gas from its farm-in lands to existing Company-owned infrastructure. This pipeline is anticipated to be completed in August 2013. At Ferguson, the Company is presently constructing a new oil battery that will have an initial capacity of 8,000 bbl/d with provisions for expansion. This battery is anticipated to be completed in July 2013.

[snafur]

asimir Capital erhöht Kursziel auf $11,50.

Neuer Report: http://www.investorvillage.com/uploads/57776/files/DTX_-_201…

[snafur]

So, genug Gewinn gemacht. Heute mal die Schäfchen ins trockene gebracht, bevor sie zum Sommer hin geschoren werden.