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This is from an earlier press release-'We are now gearing up for exciting operations focused on defining and exploiting reserves in and around the Wichian Buri oil pool'said Michael Cvetanovic, Pacific Tiger's President and CEO. 'Both the horizontal drilling and the 3D seismic programs will accelerate exploitation of our large proven, probable and possible reserve base. Last year an independent reserve audit confirmed a 40 million barrel (24 million barrels net to PTE) reserve potential in this area' If you do the math this translates into 720 ,000,000 $ @ 30 dollars a barrel.Company has 27.3 mil shares out for a market cap of just under 9 million. Closed today @ .33
Posts: 443 | From: Valemount | Registered: Dec 2003
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Oh by the way symbol is PTE and the website is very good and informative. www.pacific-tiger.com- Just bought in a few days ago.
Posts: 443 | From: Valemount | Registered: Dec 2003
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Well thats your opinion Greg - think this will be the last chance to get in under .40 . Bought a similar oil stock TMXN last fall @.25 it closed today @ 2$ . It wasnt nearly as undervalued as PTE is. When Pacific Tiger gets some exposure and starts pumping out the oil -it will fly. JMHO
Posts: 443 | From: Valemount | Registered: Dec 2003
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Flow results from their phase 3 drilling should be out in the next few days. Watch out for a gusher.
Posts: 443 | From: Valemount | Registered: Dec 2003
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This is the latest from the website-Phase III Production Test Report No. 1
Friday 12th March
The installation of oil production facilities at both WBN7 and WBN8 was completed on the 9th of March. Sucker rods, down hole pump and pressure gauges were run in both wells. Subsequently pumping operations commenced to clean-out drilling mud and completion fluids from the wells. It is expected that stabilized oil production rates will be established over the next week. The results of the production test will be the subject of a press release once consistent flow rates are established.
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Over 1.1 million shares traded today including a trade for 935,000 shares @.37 =$345,000 . Looks like the big money boys are getting interested. Whatcha think Greggdog
Posts: 443 | From: Valemount | Registered: Dec 2003
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Heyyy Mouser, I think you were right I was wrong, and I owe ya a green beer, Happy St.P Day, everybody...
Posts: 1171 | From: B.C. CANADA | Registered: Feb 2004
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Still holding around .37 great buy here. Next week we should know the flow results. I like the big blocks going through -another today from Merill Lynch for 200,000 shares. Heres their latest PR.Pacific Tiger Energy Tests to Maximize New Well Production
CALGARY, ALBERTA--(CCNMatthews - Mar 19, 2004) - Pacific Tiger Energy (TSX Venture Exchange: PTE) is pleased to report details on the extensive testing continuing on the Company's recently drilled N7 and N8 wells on its Wichian Buri oil field, the first-ever multi-lateral horizontal drilling program in onshore Thailand. A small workover rig is now conducting clean-up operations on the N7 well. Production tubing will be run deeper into the well bore and fluid will be circulated to clean out fine particles of drilling mud and sand in the horizontal section. Subsequently, the well will be put back on pump production and the rig moved to N8 to commence operations on lowering tubing deeper into the horizontal spine.
"We are being deliberately cautious on these wells, with one focus," said PTE President and CEO Michael Cvetanovic, "and that is to maximize long-term, stable production. Pressure tests on N8 have indicated we can still increase our pump rate, reservoir draw-down and production. We also believe that lowering the tubing will further optimize pumping. On N7, our initial tests indicated a need for further well clean-up. We expect to be back to pumping on N7 early next week.
"N7 and N8 drilling intersected significant intervals of net pay and we want to get the most oil out. The horizontal and multi-lateral drilling is a new type of drilling on this field. We don't want to rush production or pump too hard in the short-term and risk long-term production. More extensive testing will help establish stabilized production rates."
The Company will continue to issue timely reports on the testing operations.
Pacific Tiger Energy (www.pacific-tiger.com) is an oil company with 8,000 square kilometers in exploration and production licenses in an under-explored basin in onshore Thailand. The Company has executive offices in Singapore and corporate offices in Calgary
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Stock down to .30 today -appears Greggdog was closer than I was on this. But a fairly reliable source tells me that there is nothing happening at the well site that would cause a price drop. Flow results should be out tomorrow or Monday and he says investors will like the news. Take that for what its worth but I still believe in this one and I am averaging down here.
Posts: 443 | From: Valemount | Registered: Dec 2003
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Hey Mouser, thanks for the compliment, be carefull about letting your feelings cloud your chart reading judgment, sometimes news, finnancials, ect, don't mean crap... it's up to the MM's and charts as to where a stock goes, up or down....
If you were in PRIM a week ago you'd be up 200% today... $$$$$$$
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Also if the stock looks 100% awesome with news coming soon, sometimes the MM's drive the price down to buy more at a better price.
I saw a base at .28 so the MM's probably see that too so they're pushing the price to that level so they can ride the rebound..
Also with all the markets heading south that will affect stocks that aren't watched by hundreds of investors like what's happening with QBID and PRIM ect... If hundreds of people are invested and watching closely, it's hard for the MM's to drive the price down when the markets turn..
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Well Greg if tis was the shakedown by the mms they accomplished a good chunk .Over 740K traded today mostly down. Still havent heard news that there is anything afoul there but perhaps insiders know something and are unloading. We will know for sure in a few days. They have been good with their updates and they say flowrates will be out before end of the month. Your guess is as good as mine, but if they say 500 barrels per day this stock will take off like a rocket.
Posts: 443 | From: Valemount | Registered: Dec 2003
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Hey Greggdogg MKTW about 100 x earnings? Little to rich for my blood. Hope PTE gets that kind of valuation. Sounds like they are looking at 4 to 5 hundred barrels per day from their two wells. Estimates are between 25 and 50 million barrels of oil in that particular spot. They hold several other prospective licences there.- So even at 10 X earnings they would be trading right around a buck. Great buy here under .30
Posts: 443 | From: Valemount | Registered: Dec 2003
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