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Yeah, we're messing with shorters' money who are short 800+ million shares. I want the money they took out of the market, put back into the market. We're talking about tens of millions of dollars here.
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I think I would wait for them to regroup.Its going to takes some time for them to start back up up again. I sold yesterday at .013 on a hunch and Im glad I did! Ill keep an eye on it but I think its going to be weeks before this thing does anything at all.IMHO
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I disagree with you iwear. I will again give them the benefit of the doubt, and assert they are executing quicker than ever. I'm optimistic for news tomorrow or early next week. Don't forget we get a news letter next week, and I'm looking for good things to be said. TNOG needs to start making money, and I'm sure no one knows it better than management.
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i believe the bottom is pretty close. i think im going back in and ride the wave back up. with the way prices are moving in the oil industry, and the forcasts of colder weather. there isnt much doubt of this not going back .03 to .05 range.. any thoughts on this??
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gas prices are finally coming down thus squeezing the profit margin out of this company and making it more expense to produce oil....I owned this stock for a while and unless other promising news comes out or oil goes back up...this could go back to the .003 land that i once bought it.....company needs good news to come out.....or watch out
-------------------- pink floyds "money" is the way to live.......
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i think it might be a possibility if they don't have something else to work on ....they only had a couple of wells maybe 3 and one is a dud that is not good...hope they have more prospects
-------------------- pink floyds "money" is the way to live.......
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here is some info on that well that everyone is talking about.....make your own decision...
SAN ANTONIO, Nov 17, 2005 (BUSINESS WIRE) -- Titan Oil and Gas, Inc. (TNOG:OTC) announces that it is discussing the implementation of a high-volume pumping system to reactivate and exploit oil production from its Stanley # 1 Well.
One thing making this possible sooner than expected has been a disappointing result in the drilling of the Kosciusko # 1 Well. All indications of having reached a highly fractured zone were present, as earlier announced, and the well was completed at a depth of 7,325 feet. Generally, a highly fractured zone in the Austin Chalk indicates a good likelihood of oil and gas. Tests have finally been completed, after some delays surrounding maintenance of the rig, final hookups, and also a packer that had become unseated and that needed to be reinstalled prior to swabbing. Though small returns of gas were observed when swabbing the well, they are not strong enough to be economically viable, as it seems the fractured area has collected water. Though this is disappointing news after our efforts on this well, it does give us another opportunity in that it may be used for the disposal of water in reactivating our Stanley # 1 Well. The rig performed a water injection test on the well before leaving the site at the end of the day yesterday.
As part of our redevelopment plans, we are finalizing arrangements for a high-volume pumping system on the Stanley # 1 Well. The Stanley # 1 Well had produced just in excess of 1,000 barrels of oil in January of this year, but was starting to produce a higher percentage of water, so we had "shut it in" in anticipation of developing the well in a more economically-sensible manner. Test results have shown continuous production of oil from this well. If an inexpensive method were to exist in order to dispose of accompanying water, the well can be pumped at a very high volume. We had been seeking a water injection well, but expected that there would be a long permitting process to get underway. As we have most of the infrastructure, piping, tubing, etc., in place at this time, we would like to get this underway quickly using the Kosciusko # 1 Well.
not very good...
-------------------- pink floyds "money" is the way to live.......
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Will they find anything in the K1? Will they complete the S1 and other wells successfully? Will they work other companies' fields? Will they take funds from shareholders? Will they acquire a rig? When will TNOG shorters cover their 800+ million share debt? And when will TNOG get off the SHO list? Will TNOG remain to have over 6000 shareholders?
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pgolden, stocksforfun, you threads have been shut down. lmao Dry holes are part of the oil biz(20-30%) If the fracturing system isnt extensive enough it drains rather quickly. So you move over and drill another,depends on how much acreage you have. Disposal wells are ALWAYS in demand becaaaaauuuuuuusssssse, oil wells eventually make a LOT of water that has to be disposed of. A good disposal well can produce as much or more income. Lot of regulation there too. If they are waterflooding, and the wavefront has passed them or thief zones diverted it,problems, but the oil is there, just has to ooze in slower, reducing production. pgolden, since when is $56/bbl oil uneconomical? When did that happen? Companies I work for profit at $30. You making this "stuff" up as you go? By the way, 34 years in the patch, BS/Geology from OSU ( Cowboys).Grown a lot of hard thick bark in the patch,so give it you best shot!
-------------------- It takes a lot of attaboys to make up for an aww chit
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Glad we have an expert here OILDOG. I have question that's been aching to be asked to someone of your qualifications. Is there a possibility at all that they can still find oil in the K1? I mean, they did discover oil in the mud at the opening of the fracture. Maybe the oil was pushed somewhere by the water.
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Don't know anything about TNOG or K1. Just saw all those spurious threads about TNOG popping up. Where was it drilled and what did they say? And yes, I see that all the time. In a zone with high porosity (good), the drilling mud will invade and flush the zone, many times giving almost no "show".I see that frequently.Need to be familiar with the area/formation and have sensitive gas instruments or it can be missed. "E"logs dont always give the answer. Can still leave you scratching your head. Too heavy mud weight can kill a show while its being drilled. If its a vertical chalk well (Ive done a number of horizontals over the years), you can miss the main vertical fracturing pretty easy, and be off to the side in the lesser or micro zones.Thats why they do so much horizontal drilling in the Austin chalk, to traverse as many fracture systems as they can on their lease.But they can still fract or acidize to increase production. But not every fracture has oil in it. As for water, usually is not a sin unless its excessive or no nearby disposal wells (costs money to haul water too).Chalk fractures can vary in size & extent(cant put a million bbls in a 1000 bbl container).You said they had oil in the mud so they had an oil show. It would depend on the size of the reservoir and the oil/water ratio as to its economics. If they have leases in a pretty good area, they shouldnt have too much trouble finding investors/partners at todays prices. Like I said, I havent been following TNOG, so I dont know their situation.Lot of cons/flybynighters/crooks show up for every oil boom, so.......caution.Hope this helped. Im sitting on a Chesapeake horizontal gas well in western Oklahoma,near Cheyenne,as we speak. Getting into our pay, been burning a flare since 3am this morning. GLTA
-------------------- It takes a lot of attaboys to make up for an aww chit
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Hmmmm. 3-4 years ago I briefly covered a well near Crescent OK for another guy during our big ice storm. REAL bad conditions, he couldnt get to it. It was Titan Oil something, a Florida company. Same one? Ill have to check. Seems they payed their bills on time, no problem there. They were shut down, everything froze up so I didnt do much. Not at home so I cant check who they were.
-------------------- It takes a lot of attaboys to make up for an aww chit
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Don't worry about p****** Oildog, he's just here because he likes to talk. Thanks for the information. Some of us took quite a bath on this and we don't need anyone to hold out hands. We're grown-ups, but we can use good info, since we will probably be in these stocks, and oil for some time. Thanks again.
-------------------- If you don't have instincts, get out. If you do; go with them.
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Do they have other prospects/leases? One or two dry holes in a decent prospect doesnt necessarily condemn it. They just havent figured it out yet(the mechanism),seismics, mapping,ect. If its badly depleted,money can still be made, but they have to be VERY cost effective and efficient. At todays prices for drilling rigs and cost per foot that can be tough to do.Over 90% of Oklahomas oil wells are strippers (under 10 bbls/day, most 3-5 bbls/day.)They still make money. Some in my home area were drilled in the early 1900's, still making small operators money.When I get some more time I look into TNOG, but, stocks trading in the 100's of millions (cmkx,qbid,ect.) give me a severe case of hives. Going bird hunting this afternoon so GLTA
-------------------- It takes a lot of attaboys to make up for an aww chit
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I guess they're going to just use the K1 for water disposal. The K1 is a pretty good asset in itself it seems. With their experience, they must have taken that as a very good possibility and for plan B. I don't get the sense because the K1 is a dud they thought it was the end of the world. The last PR said the S1 had consistent oil output, but was infeasible due to the high water to oil ratio. Now they can use the K1 to dispose of the water from the S1, they can get S1 really pumping. The S1 was just recently pumping about 5 BPD of oil. OILDOG how much oil do you think they can pump from the S1 with a high-volume pumping system? And how long do you think it will take them to set up that system?
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Really all of the panic selling was excessive. TNOG is still in the game. Now it's on to the S1 (no drilling, just setting up a pump) and now owns a water dump (the K1) which will be priceless in future drilling operations.
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I think Wilson County is on the leftmost oil pool on that map. They also have a field in Bastrop County; don't know if they touched that yet.
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5 bpd is not much. Depleted area.Depends on how much water with the oil. Hundreds of barrels water per day w/5 bbls oil could be too costly. If they can pump it through a line to a nearby disposal well, thats a whale of a lot cheaper than transporting by truck. But, waterflood,afterall,uses a LOT of water to move the oil where you want it. Too many variables,depends on what they are trying to do with the pump. The oil game is high risk, and penny oil's are riskiest(sic) of all. Don't see any overt hype here. They ARE drilling wells, APPEAR to be serious. If they are the Titan I mentioned before, then they've been doing this for a while. Worth watching. By the way,where is the bankruptcy stuff coming from? Did I miss something? Most oil companies, especially the smaller, play with OTHER peoples money,many who need tax writeoffs(gotta be pretty rich to need THAT!)Indian Oil a number of years ago drilled over 40 straight dry holes in the northern tier of counties in OK.Folks were snickering over that. But they didnt go away till they were bought up! Later,buddy and dogs are here.
-------------------- It takes a lot of attaboys to make up for an aww chit
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The S1 did produce 1000 barrels one month, so it does have some promise. I think it was the month before they decided it was too costly.
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"We had been seeking a water injection well, but expected that there would be a long permitting process to get underway. As we have most of the infrastructure, piping, tubing, etc., in place at this time, we would like to get this underway quickly using the Kosciusko # 1 Well."
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K1 can be a money maker after all: [From RB by montanore]
I found this on the TNOG longs board--interesting stuff from Peter Maupin.
"In the past the wells in this area of interest were produced until they began to produce a significant amount of water at which time they would be abandoned. There was only one water injection well in the area and it was a commercial well which charged to inject the produced water not-to-mention the cost of trucking the water approx. five miles to this facility. We now know that, if you have a disposal well, you can produce fluids at a high rate and produce substantial amounts of oil from these Austin Chalk wells. I am attaching a production test from a well in the Pearsall Field which shows production rates once the well was put on a high-volume submersible pump – see attachment no. 4. You will note that this well averaged 822 bopd for the test period! It is therefore obvious that any plan for development would need to include a conversion of one of the wells to a water disposal well."
Stanely was the largest producer in this entire feild producing over 30,000 barrels of oil before it began producing some water. It could definiately be the home run we are looking for. If it hashes out that well.
This was titan's Original plan, what they were going to do FIRST but decided to go with K#1.
quote:Originally posted by explorer186: K1 can be a money maker after all: [From RB by montanore]
I found this on the TNOG longs board--interesting stuff from Peter Maupin.
"In the past the wells in this area of interest were produced until they began to produce a significant amount of water at which time they would be abandoned. There was only one water injection well in the area and it was a commercial well which charged to inject the produced water not-to-mention the cost of trucking the water approx. five miles to this facility. We now know that, if you have a disposal well, you can produce fluids at a high rate and produce substantial amounts of oil from these Austin Chalk wells. I am attaching a production test from a well in the Pearsall Field which shows production rates once the well was put on a high-volume submersible pump – see attachment no. 4. You will note that this well averaged 822 bopd for the test period! It is therefore obvious that any plan for development would need to include a conversion of one of the wells to a water disposal well."
Stanely was the largest producer in this entire feild producing over 30,000 barrels of oil before it began producing some water. It could definiately be the home run we are looking for. If it hashes out that well.
This was titan's Original plan, what they were going to do FIRST but decided to go with K#1.
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Cowboys).Grown a lot of hard thick bark in the patch,so give it you best shot! 
