1. Most Discussed
  2. Gainers & Losers
STU 94.0¢

Some Imformation i have gathered

  1. gyro

    5,426 posts.
    STUART PETROLEUM NL
    ASX Code: STU
    ORDINARY FULLY PAID Industry Group Oil & Gas Exploration & Production –
    Shares on Issue 58,370,000
    Market Cap ($) 42,026,400

    Reason for rise to current price:

    1. 3,700,000 barrels of oil at 25 USD equals 92,500,00 USD Stuart’s share is 75% of that 69,375,000 USD or 121 710 526 AUD.

    2. Stuart Petroleum's Operations Director, Mr Rod Hollingsworth, said today that initial oil production from the Acrasia-1 field would be at a rate of about 500 barrels a day (bopd) building to 1,000 bopd.
    Gyro Maths: $25 USD per barrel equals $43 AUD at 57c
    500 by $43 AUD equals $21 500 per day AUD or 7.8 Million per year 75% equals $5.85 million increasing to 11.7 million at 1000 barrels per year.
    Total current resource 3 700 000 barrels divide by 365 000 barrels per year 10.1 years


    STUART PETROLEUM NL 2002-05-08 ASX-SIGNAL-G

    PEL 90 CANDRA BLOCK, COOPER/EROMANGA BASIN, SOUTH AUSTRALIA

    As Operator for the Stuart Petroleum / Beach Petroleum Joint Venture,
    Stuart Petroleum wishes to advise the results of first stage analysis
    of the drilling and testing of Acrasis # 1:

    * the drilling of Acrasia # 1 has indicated a resource of
    approximately 3.7 million barrels of oil in place, and

    * there is potential to increase the oil resource estimate in the
    Acrasia structure by the drilling of another well west of Acrasia #
    1.

    Accordingly, the Joint Venture has decided to drill a second well on
    the Acrasia structure, the appraisal well Acrasia # 2, located 1.2
    kilometres west of Acrasia # 1. The objective of this well will be
    to:

    * increase the estimate of total oil-in-place in the Acrasia
    structure, and to

    * serve as a second take off point for production purposes.

    Production testing of Acrasia # 1 is scheduled to begin within two to
    three weeks and once this operation is underway the 0 D & E rig #30
    will be moved to the Acrasia # 2 site to commence drilling
    immediately.


    3,700,000 barrels of oil at 25 USD equals 92,500,00 USD Stuarts share is 75% of that 69,375,000 USD or 121,710,526 AUD.


DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top