SAN ANTONIO, TEXAS, Nov 10, 2004 (CCNMatthews via COMTEX) --
Titan Consolidated, Inc. (TTCS:OTC) announces that well No. 1 continues to produce oil under its own pressure.
At the end of last month, the company was able to deliver a full load of oil consisting of 195 barrels which filled the truck to capacity. Upon the truck's return, water emulsion was found in the oil. After a few days of heavy rain, a hot oil truck was brought in. Company reports that they currently have another 115 barrels available for market.
Titan CEO Kent Jacobson stated "We are quite pleased that the well is continuing to produce oil under its own pressure and anticipate this to continue for a few more weeks before putting the well on pump."
About Titan Consolidated, Inc. - Titan is an energy company engaged in oil and gas development, drilling and production. Titan follows a conservative business model, redeveloping oil and gas fields with a history of production, while expanding into exploration and development of new properties.
Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Titan Consolidated, Inc.) contains statements that are forward looking, such as statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
Titan Consolidated, Inc. Clayton Smith Investor Relations +1 503 618 0370 E-mail: info@titanoilandgas.com WWW: http://www.titanoilandgas.com NEWS RELEASE TRANSMITTED BY CCNMatthews
Copyright (C) 2004, CCNMatthews. All rights reserved.
posted
Somehow... I don't think this PR is going to propel us back in the .02s. Kinda muddy PR that doesn't tell us much. salemm.
Posts: 783 | From: Ottawa, Canada | Registered: Feb 2004
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posted
I am concerned about thier last PR stating ... umm what was it.. 225 barrels, in how long of time? If you add todays total barrels they report = 310. THAT'S ALL ??? This doesn't seem right... Posts: 415 | From: CA | Registered: Jun 2004
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posted
Another 115 barrels ready. That number suggests production is going... down?? Oil flowing under it's own pressure is a good thing?? Better than PUMPED out?? This water emulsion thing... that slowed us down?? Gas revenues? How much $ was collected for the initial 195 barrels (which used to be 225 barrels in the other PR, wasn't it??)? Any other wells on the go? So many questions! salemm. Posts: 783 | From: Ottawa, Canada | Registered: Feb 2004
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posted
that pr was a wast of time its like where going backwards they waited 2 weeks to put out that pr!! looks like im going to have to sell this for a big loss
Posts: 51 | From: MA | Registered: Sep 2004
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posted
Yeah... I'm thinking the same. Crap... what a loss. I realize this will probably be a good longer term play... but not my style... and doesn't suit my needs right now. Disappointed. But that's the nature of the game...ain't it?? salemm.
Posts: 783 | From: Ottawa, Canada | Registered: Feb 2004
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posted
this can be the cause of the water emulsion
true so many questions, TTCS needs to give better info
but this is what i found concerning water emulsion A zone of transitional saturations between water and gas, water and oil, or gas and oil. The transitional zone between oil and water in a water wet rock, for example, will be that length of formation where water will be at its lowest saturation at the top and oil will be at its lowest saturation at the bottom. In this example, virtually l00% oil wouldbe produced at the top of the transition zone, and virtually l00% water would be produced at the bottom.
In oil production systems, water is often present in the reservoir and is co-produced with the oil. Due to the presence of emulsifying agents, such as:
Naturally occurring surfactants in the oil / water Other chemicals (corrosion inhibitors, scale controllers, paraffin controllers Silts, fine solids, drilling mud, and clays Shearing effects resulting from turbulent flow and pumps, these fluids combine to form an emulsion
Related Information
BakerHughesDirect - Baker Petrolite
The produced emulsions contain water, which causes many problems for oil and gas producers. Because of this, the emulsions have to be broken down or demulsified, allowing the water component of the emulsion to be separated and removed from the oil by gravimetric means. This enables the produced oil to meet BS&W (basic sediment and water) and salt specifications.
These specifications are set by pipeline companies or other transporters, as well as the refinery to reduce the incidence of corrosion and other problems. Also, by removing the water, less fluids will be need to be transported, aiding in reducing the cost of transportation. In addition, emulsions in an oil producing system can lead to pumping problems due to their high viscosity and the potential to build up pads in the separators which could potentially result in dangerous conditions and costly, labor intensive production shutdowns.
Emulsions stability varies with oil and production conditions. Given sufficient time, most emulsions will dissipate. However, in oil treatment systems time is usually a limited resource. And although emulsions may be destabilized to some extent by the addition of heat, the oil and water will not separate sufficiently in the short treatment time required.
To increase the rate of oil and water separation , Baker Petrolite produces chemical products known as demulsifiers or emulsion breakers. These chemicals are surface active, specifically targeting the emulsions. The chemicals have two components, one of which is attracted to the water phase and the other which is attracted to the oil. This allows the chemical to penetrated and disrupt the emulsifying film, breaking the emulsion.
Due to the vast differences in characteristics of crude oils produced throughout the world as well as the production treatment systems already in place, demulsifiers are usually formulated specifically to resolve emulsions on an individual field basis. Due to the complexity of the surfactants stabilizing these emulsions Baker Petrolite's products are generally multi-component blends of chemical intermediates formulated to produce all of the requirements of an optimum treating chemical:
Rapid water drop, Zero residual emulsion, Sharp oil / water interface, and Crystal clear effluent water for disposal or reuse
Oil Well Pump Tests May Dramatically Reduce Operating Costs, Increase Domestic Oil Recovery WASHINGTON, DC -- A new hydraulic pump currently undergoing near-flawless field tests at the Department of Energy’s Rocky Mountain Oilfield Testing Center (RMOTC) could reduce the operating cost of high-volume offshore oil wells by 40 percent, adding to America’s oil reserves and energy security by prolonging the life of mature oil fields.
"This advance in oil field technology supports President Bush's National Energy Policy by making maximum use of U.S. energy resources," Secretary of Energy Spencer Abraham said. "This new oil pump allows us to recover maximum oil in an environmentally friendly manner while reducing costs. It's an excellent example of the Energy Department's focus on making the maximum use of our own natural resources while decreasing our dependence on foreign oil."
The new pump, the largest of its kind ever tested, is ideally suited for maturing oil fields where wells have a high “water cut,” meaning that they produce larger volumes of water relative to the oil produced -- as much as 8,000 to 12,000 barrels a day – along with oil.
Electric submersible pumps currently in use produce an oil-water emulsion that requires a costly separation process before the water can be properly disposed of and the oil sent to a refinery. The large-volume hydraulic pump now undergoing testing produces oil and water with little mixing and is much easier to service, which dramatically reduces operating and processing costs.
Reduced operating costs can often mean a longer economic operating life for an oil well. The longer a well operates, the more oil it produces, prolonging the life of the field and adding to recoverable reserves. The new pump would be admirably suited for use in mature high-volume offshore Gulf of Mexico oil wells, as well as in certain large volume onshore wells with higher water cuts.
The cost-shared, $1.5 million, three-part test being conducted by RMOTC for Oilwell Hydraulics of Odessa, Texas is now in its second phase and is “going superbly,” according to Bryant Mook, the RMOTC petroleum engineer who is managing the project.
Each test phase of the hydraulic pump was scheduled to last 30 days, Mook said, but the first phase went so well that RMOTC and Oilwell Hydraulics wrapped up the test after only a few days. The second phase is also proceeding smoothly, partly because RMOTC offers ideal conditions for testing.
Mook said the payoff for Oilwell Hydraulics in partnering with the federal test site comes from RMOTC’s large-bore test well that can replicate offshore conditions onshore; experienced personnel including expert engineers and oilfield hands, and a cost-sharing arrangement in which RMOTC’s contribution of infrastructure and personnel covers seven percent to 10 percent of the test’s $1.5 million cost.
“You can compare it to conducting a medical experiment in a fully equipped hospital as opposed to a remote emergency medical unit,” Mook said. “Everything you need is right here.”
The payoff for RMOTC comes from helping to prove the value of a new technology that could add large volumes of domestic oil to recoverable reserves, adding to the nation’s energy security by reducing our reliance on imported oil.
posted
so in conclusion, i think 1)this is not "pumped" oil so we are getting transition zone...so we first got OIL then OIL+water and lastly OIL, then naturally we turn on the pump because it doesnt pay to turn it on now! 2)the free-flow is good cos we know theres a lot of pressure underground, and this is normal because water+oil transition zone...think of it like if you take a plastic bottle of soda, add 75% oil SHAKE IT and u make a hole on the side, first GAS will come out, then the oil because it is the top layer at high pressure til pressure equals out then u get oil and soda left just an illustration i thought of, those this make sense? 3)115 barrels, well lets say they pumped over 300 barrels to be fair this week, and their final product was 115 with the water taken out. This costs $$ to demulsify, but apparently they have it, yes the production is down but in reality once we get through this transition zone we will be just be producing OIL 4)HOT OIL TRUCK
notice the 2 layers of water....
soony we will have this
------------------ Facta Non Verba
[This message has been edited by Qbidder (edited November 10, 2004).]
Emulsions stability varies with oil and production conditions. Given sufficient time, most emulsions will dissipate. TIME? ahh i want to make $$ NOW
However, in oil treatment systems time is usually a limited resource. yes..for us too-->want to see green with TTCS
And although emulsions may be destabilized to some extent by the addition of heat thats why they brought HOT OIL TRUCK
the oil and water will not separate sufficiently in the short treatment time required. the reason why production is TEMPORARLY DOWN
These specifications are set by pipeline companies or other transporters, as well as the refinery to reduce the incidence of corrosion and other problems.Also, by removing the water, less fluids will be need to be transported, aiding in reducing the cost of transportation. so the trucking company only wants OIL
In addition, emulsions in an oil producing system can lead to pumping problems due to their high viscosity and the potential to build up pads in the separators which could potentially result in dangerous conditions and costly, labor intensive production shutdowns. the reason why we are not "pumping" now and just letting the pressure bring it up WE ARE LUCKY THAT the pressure is bringing this up as the PR states for WEEKS...
lets get Saddam out and hire him at TTCS...his oil expertise is really needed
posted
HAHA! Good work! Very plausible explanation for current situation. I now nominate you as Investor Relations Guy!! So... IR guy: When do you expect I can get 0.0135 for this... 'cause that's my average... and I see plenty other stuff out there just beckoning me to buy in. How long you sayin' I gotta wait?? HAHA! Thanks for the info! salemm.
Posts: 783 | From: Ottawa, Canada | Registered: Feb 2004
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posted
Salemm any thoughts? i really think this became a long term stock for me too i agree not what i need now, but i think long term we will make some $ according to some sites i looked at oil-water transition takes 2-3 weeks to get through.. well hope its a good xmas gift
posted
Salemm this is what i came up with A zone of transitional saturations between water and gas, water and oil, or gas and oil. The transitional zone between oil and water in a water wet rock, for example, will be that length of formation where water will be at its lowest saturation at the top and oil will be at its lowest saturation at the bottom. In this example, virtually l00% oil wouldbe produced at the top of the transition zone, and virtually l00% water would be produced at the bottom.
OK let me start 1) 10/25 produced 72 barrels 100% oil in 14 hours looking back, they stopped and added a pump because they broke through the "ZONE" they expected this...i didnt because im the idiot who does research after the fact!
2) 10/28 they stated they drilled 225 barrels and today they stated 195 barrels were OIL so production was 82% of "pumped"
3)assuming they pumped 11/1-9 and PR came today that they have another 115 barrels simplify this a little
day 1 pumped around 50 barrels approximately 75% oil total/day 37 barrels oil day 2 pumped around 50 barrels 60% oil total/day 43 barrels day 3 pumped 45 barrels 50% oil tdtal/day 22 barrels day 4 pumped 40 barrels 45% oil total/day ect ect
the reason why only 50 because as the pressure decreases by what is expelled less pressure drives less up and we are NOT ACTIVELY PUMPING
so from what i can make out of this we are currently around 25% oil area now.... in 10-14 days we should be at 100% water for a couple of days...looking back at PRS 2-3 days
so i believe in 12-17 days we will turn on the ACTIVE PUMP and be getting ~>95% oil and we will be officially pumping 24/7 and start collecting GAS
so right now i have to wait and see hopefully with this $$ they make they will invest in well No.2 ect ect
please note, im not a geologist..im an MD and im just applying some basic medicine facts i know to this so this is not a scientific explanation just a "possability"
posted
Ralph... How about sending your info to the company and see what they say. I would be VERY interested to know thier responce.
Posts: 415 | From: CA | Registered: Jun 2004
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posted
i guess real OIL investors will only get in after we reach ~98% oil phase or "active pumping" so we have to wait until then to turn this into a cash COW i really believe because they already knew what i just learned they will wait for then (and i guess i have to too) but i expect in a week or soo they will start jumping in because PSS is soo down, but right now they might be waiting to see if they can get this a little cheaper
my personal feeling is .03-.05 in 2 months from making $$ on active pumping 300-400 B/day .10-.12 in 6 months from opening up other wells and they too start pumping 24/7
i guess my goal is to see 1,000 barrels/day and that will be in 7-8 months
posted
Whoa! Brainpower at work!LOL Excellent Qbidder! Thanks for lending us your brain!! A big concern, of course, is what the pps will be during these 12-17 days. If it keeps up... we could be at 004 by then!! Ouch! Not sure what to do. Big loss if I bail now. Perhaps we'll get another tiny increase to 0011 again soon, like we did yesterday. That would narrow my loss and allow me to exit... 'ahem'... gracefully. salemm.
Posts: 783 | From: Ottawa, Canada | Registered: Feb 2004
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quote:Originally posted by tradingpennys: Ralph... How about sending your info to the company and see what they say. I would be VERY interested to know thier responce.
Hey Penny I actually got all this info from another company which just opened new wells and they presented the info in "flow sheet" style... the difference is that other company PPS went up because they already had active wells while TTCS is working on their first well
i dont mind sending info, i just wish TTCS would have presented this info in "flow sheet" style so i didnt have to waste 1 hr looking it all up
posted
Salemm i bought my position at .0205 i am just going to wait on this one, i cant exit now
your guess is better than mine... i think it will go a little lower but at this point im just hoping some "oil investors" start jumping in early next week til then, its just "US"
posted
Do you think a PR stating "we are in active 24/7 pumping phase" will bring this over .03?
Posts: 76 | From: Chicago, NYC, Rome~Italy | Registered: Oct 2004
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quote:Originally posted by Qbidder: Hey Penny I actually got all this info from another company which just opened new wells and they presented the info in "flow sheet" style... the difference is that other company PPS went up because they already had active wells while TTCS is working on their first well
i dont mind sending info, i just wish TTCS would have presented this info in "flow sheet" style so i didnt have to waste 1 hr looking it all up
but i did one for the team
I am suitably impressed with your abilities. Another way I was thinking - if they had the info you dug up they might get the hint in how to write accurate & informative PR's.
quote:Originally posted by tradingpennys: I am suitably impressed with your abilities. Another way I was thinking - if they had the info you dug up they might get the hint in how to write accurate & informative PR's.
im down with this... i will email them this thread later on today...also might make them explain their situation and confirm my thoughts
posted
All the "Sell" indicators are a little disconcerting... but here is Barchart's opinion anyways. salemm.
Composite Indicator Trend Spotter TM Sell
Short Term Indicators 7 Day Average Directional Indicator Sell 10 - 8 Day Moving Average Hilo Channel Sell 20 Day Moving Average vs Price Sell 20 - 50 Day MACD Oscillator Sell 20 Day Bollinger Bands Hold
Short Term Indicators Average: 80% - Sell 20-Day Average Volume - 3848780
Medium Term Indicators 40 Day Commodity Channel Index Hold 50 Day Moving Average vs Price Sell 20 - 100 Day MACD Oscillator Sell 50 Day Parabolic Time/Price Sell
Medium Term Indicators Average: 75% - Sell 50-Day Average Volume - 2232960
Long Term Indicators 60 Day Commodity Channel Index Sell 100 Day Moving Average vs Price Sell 50 - 100 Day MACD Oscillator Buy
Long Term Indicators Average: 33% - Sell 100-Day Average Volume - 1255586
quote:Originally posted by salemm: However... as a consolation... we are OVERSOLD. Perhaps we'll see more and more buys in the days ahead, as you suggest Qbidder.
STOCHASTICS: Oversold RSI: Oversold
salemm.
RSI this am was around 20 now 34
i think what happened was 2weeks ago people sold on news when this was close to .03 i got greedy and i pay now
the only thing im thinking now we got in this cos we had faith in this company... who still does?
posted
Thanks Ralph! I feel this stock is going for more new lows unfortunately. I am in at 0.0199 and I refuse to take a loss! lol I will wait this one out, it has potential.
Tina
quote:Originally posted by Qbidder: im down with this... i will email them this thread later on today...also might make them explain their situation and confirm my thoughts
[This message has been edited by tradingpennys (edited November 10, 2004).]
posted
Geeeeeezzzz! We need a HUGE band-aid for this bleeder! Looks like I'm in here for the long haul too. salemm.
Posts: 783 | From: Ottawa, Canada | Registered: Feb 2004
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posted
Q, I still WANT to believe...but it's hard to @.0072...alot of people jumping ship. Do you think Salemn was one of them? I just hope it doesn't drop so far that good news out in a couple of weeks can't push it back to .03 or beyond. I'm down $76 short of FIVE GRAND!! OUCH!!! Terry
Posts: 852 | From: TX | Registered: Sep 2004
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posted
Salemm, how do you open those little boxes with the red X? Now I'm down over 5 grand!
Posts: 852 | From: TX | Registered: Sep 2004
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posted
You can't open it. Not sure why it didn't work. You know... when you want to post a picture (as I was trying to do) you put [img]enter url [/img]. The picture is then supposed to turn up whenever someone reads your message. Mine didn't. Maybe too big? Anyway... what a bath we're taking now!! My wife will K-I-L-L me if I show her my loss today. Oh well... another secret! salemm.
quote:Originally posted by RNINALVNG: Salemm, how do you open those little boxes with the red X? Now I'm down over 5 grand!
posted
I understand, I have never been able to open the one's that Q does either. Today's my birthday, what a lousy present that pr was!!! Hopefully we'll be able to recover in a few weeks. Good luck and I promise not to tell anyone your secret!HA! Terry
Posts: 852 | From: TX | Registered: Sep 2004
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Thanks Ralph! 
