posted
Decent News this morning...give it a day or so...RSI currently @ 22.5
Press Release Source: Silver Star Energy, Inc.
Initial Oil Production at Joarcam "13-27" Oil Well to Exceed 75 Barrels per Day Monday February 28, 9:00 am ET
LOS ANGELES, CA--(MARKET WIRE)--Feb 28, 2005 -- Silver Star Energy, Inc. (OTC BB:SVSE.OB - News) today announces that initial testing at the "13-27" oil well has shown that the production rates should exceed the original estimates of 75 barrels per day. The "13-27" will be on pump to establish the Initial Production Rates (I.P.R.) of the well. ADVERTISEMENT
As the "13-27" well location directly offset another well that initially produced oil at rates of approximately 75 barrels per day, Silver Star and the operator made a comparison between the logs of the two wells and had determined that the 5.2 metre (17.1) interval at the "13-27" well appeared to be a cleaner sand and thus may be more productive than the offsetting "16-28" well.
Third-party analysis of the swab report indicates that "the well will begin pumping at a rate exceeding 75 barrels oil per day."
A pump-jack is immediately being delivered and will be set up at the well-head. Silver Star anticipates the onset of commercial production of oil at the "13-27" well to be a matter of days. With near-record prices for crude oil, Silver Star has projected that the well should generate $112,000 per month in revenue, or $1.3 million per year, and will payout its entire cost in 6 months. The long-life reserves in the Viking allow wells to be in commercial production for 20 years.
Currently, the 38-degree API light oil at Joarcam has been priced at over $51.00 per barrel ($64.00 CDN). The prospect lands are located about 25 miles southeast of Edmonton, Alberta, and there is year-round access to the property.
ABOUT SILVER STAR ENERGY, INC.
The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high-quality, low-risk prospects provided via key strategic alliance partnerships.
Safe harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Silver Star Energy, Inc. has little or no control.
-------------------- Greedy Because I'm Broke!!
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To answer the response on what is happening is to say this company is about to explode in stock sales due to the fact that every oil well the drill is a 2 million dollar plus cash flow after the half million to pay for drilling the well!It is all positive as to gas well and oil well developement of positive cash flow over numerous years to come!
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Svse is one that is going tobe just like ultra petroleum in the matter of being small amount of employees and great return on production of insurmountable supply of oil and gas. I see this following the same pattern as upl, the only difference is the wells upl pumps from flows like water from a faucet!
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posted
Yeah,I was following UPL for awhile,alot of their news in the beginning was alot like SVSE.I'm thinking/hoping for at least a 100% rise within a year;all Sv's news is positive...that makes me think GREEN!!!
-------------------- Greedy Because I'm Broke!!
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Silver Star Receives Final North Franklin Gas Pipeline Permit -- Tie-In Construction Can Now Commence LOS ANGELES, CA - MARKET WIRE - 03/07/05 Silver Star Energy, Inc. (OTC BB: SVSE) is pleased to report that the operator of the North Franklin Project has informed the Company that the final government permit allowing for the completion of construction of the North Franklin gas pipeline has been received from the U.S. Fish and Wildlife Service. The permit covers the easement over the final 177' of the gas pipeline.
The Company has also been informed that the final construction of the short tie-in of the pipeline will now commence with a crew to implement the underground boring operation now being organized for the job. Silver Star anticipates the tie-in to be completed shortly, following which gas production will occur from the "Archer-Whitney #1" well. The progress of the tie-in will be updated as events unfold.
Silver Star has previously announced that a contract is in place with a natural gas purchaser. When final connection and tie-in is completed, the well will be evaluated as to I.P.R.s (Initial Production Rates). Silver Star is optimistic that gas flow rates will be similar to area analog gas fields and that 5,000 mcf/day is a realistic target.
The March 4th gas price based on PG&E-Citygate pricing is $6.47/mcf.
-------------------- Greedy Because I'm Broke!!
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I guess some of the stock holders are afraid to voice their ideas on their stock. Of course I feel with all the positive news, this is a winner from days to come, every well that is dropped is money in the bank!
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I've been excited about this from day one...I just can't believe there isn't more peeps on this board investing in this.This is a serious investment;like a 401K this will help you in the long run.Oil prices are rising with no drop in sight...Do Your DD you'll see why i'm all over this.GLTA!
-------------------- Greedy Because I'm Broke!!
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North Franklin Pipeline Tie-In Finished -- Gas Production From "Archer-Whitney #1" Well Can Now Begin
By Market Wire Last Update: 3/18/2005 9:02:09 AM Data provided by
LOS ANGELES, CA, Mar 18, 2005 (MARKET WIRE via COMTEX) -- Silver Star Energy, Inc. (SVSE) is pleased to report that the pipeline at the North Franklin Project has been finished. The "Archer-Whitney #1" gas well has now been tied-in and will be put online.
A gas sales contract is in place with a natural gas purchaser. Once official production begins, the gas well will be evaluated as to I.P.R.s (Initial Production Rates). Flow rates will now be established by the performance of the well and response of the reservoir. The Company has always expected excellent deliverability from the well and is optimistic that ultimately, gas flow rates will be similar to area analog gas fields and that 5,000 mcf/day is a realistic flow rate target.
Robert McIntosh, President of Silver Star stated, "The completion of the pipeline at North Franklin is a milestone for the Company. After undergoing lengthy delays, the 'Archer-Whitney #1' well can now be put online at a time when energy prices are soaring due to increased demand. Now, Silver Star can focus on the development of the gas field in the upcoming months by drilling more wells and increasing cash flow to the company."
Today's gas price based on PG&E-Citygate pricing is $7.09 mcf.
ABOUT SILVER STAR ENERGY, INC.
The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high quality, low risk prospects provided via key strategic alliance partnerships.
Safe harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Silver Star Energy, Inc. has little or no control.
-------------------- Greedy Because I'm Broke!!
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posted
hopefully it`s on theway to the top. The wells that are going tobe sunk will produce oil at a profitable rate per year but I1m hoping the next one will flow at the rate of 500 to 750 barrels a day instead of 100 to 125 a day! the profits are going tobe staggering!
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North Franklin Gas Production From "Archer-Whitney #1" Well Begins Tuesday March 22, 9:00 am ET
LOS ANGELES, CA--(MARKET WIRE)--Mar 22, 2005 -- Silver Star Energy, Inc. (OTC BB:SVSE.OB - News) is pleased to report that natural gas production has begun from the "Archer-Whitney #1" gas well. The operator of the North Franklin Project informed the Company that the well was put on production and began flowing gas into the gas buyers system. A gas sales contract is in place with a natural gas purchaser and Silver Star will begin to receive revenue as of today's date.
The operator of the project has choked down and metered the flow at an initial rate of 2.0MMcf and will be increasing the flow in small increments until the pressures from the reservoir stabilize at an acceptable rate that will not damage the casing or productive sand layer. It is critical for the field health to inhibit a simple open flow and to choke down pressures to prevent gas reservoir "coning" and drawing water into the sands by the outgoing gas.
The Company will endeavor to release further gas flow rates from the well as soon as numbers become available. The gas well will now be evaluated as to I.P.R.s (Initial Production Rates) and flow rates will be established as to the performance of the well and response of the reservoir.
The Company has always expected excellent deliverability from the well and is optimistic that ultimately, gas flow rates will be similar to area analog gas fields and that 5,000 mcf/day is a realistic flow rate target. The production rate will now be evaluated and assessed by the Company, partners and operator as to optimal numbers for the well and reservoir.
Robert McIntosh, President of Silver Star, stated, "The inaugural production at North Franklin is a tremendous accomplishment for the Company. Now that the well is finally online it comes at a time when gas prices continue to rise due to high demand and Silver Star is positioned to take advantage of these natural gas prices. The Company has plans for drilling 5 more wells on the leases and the second well is scheduled to begin drilling immediately on the lease when the conditions allow us to mobilize drilling equipment."
Monday's gas price based on PG&E-Citygate pricing is $7.19 mcf.
-------------------- Greedy Because I'm Broke!!
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quote:Originally posted by j tex: Is everyone blind? Can you see this company is off to the moon in profits from oil and gas revenues?
I'm with ya bud;I also see this at/back to $1.25 - $1.50 range by summers end.If ya check out all the recent news & the fact that they are getting listed on the big exchanges this Quarter... why the hell should'nt it explode.I'm totally all for this long term,just look at what UPL did.
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posted
It will bounce to positive soon.. especially now that oil hit $57 + ... another stock that might interest everyone is ABP ... check that one out..
-------------------- Let the world change you... And you can change the world.
Silver Star Announces Plans for Next North Franklin Gas Well -- "Archer-Wildlands #1" in Preparation to Drill April 7, 2005: 9:00 a.m. EST
LOS ANGELES, CA (Market Wire) - Silver Star Energy, Inc. (OTC BB: SVSE) today announces that the Company has executed an Authority for Expenditure (A.F.E.) for the "Archer-Wildlands #1," the next gas well to be drilled under the overall development plan for the North Franklin Project. Silver Star has advanced funds in full to the operator totaling $152,000 for the Company's 40% working interest cost of the well to completion.
The "Archer-Wildlands #1" gas well is licensed, permitted and the well site preparations are ongoing. The Company expects a tentative spud date upcoming later this month, dependent on ground conditions. A drill contract has been signed and a drilling rig has been secured for the well. Silver Star will update the progress of the operation when the operator has determined a firm spud date.
Robert McIntosh, President, states, "With the recent commencement of commercial gas production, Silver Star is pleased that the second gas well is now to begin as part of the 2005 development plan for the North Franklin gas reservoir."
-------------------- Greedy Because I'm Broke!!
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