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I know this is not the right section for this stock, but i wanted to share this gem.
This undiscovered company is crazy...float only 4 million. It's just starting to get attention now.
Business Editors / Energy Editors
CISCO, Texas--(BUSINESS WIRE)--May 24, 2006-- Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF) reports that the operator has announced that the Sellicks-2 well has struck oil in a new oil pool. The DST 1A conducted early this morning over the Poolowanna Formation interval 1984-2007 meters resulted in a flow of oil to surface in 13 minutes. A preliminary rate of 2250-2700 barrels of oil/day was achieved. The Sellicks-2 well adjoins ACOR's PEL 112 to the north. The Sellicks-2 is an appraisal well in Sellicks Oilfield in the Eromanga Basin, South Australia, spudded on May 11. This is a new pool oil discovery within the Sellicks Field, which has, to date, produced oil only from the deeper Patchawarra Formation. Sellicks-2 is the first of two appraisal wells based upon 3-D seismic that was designed to optimize field development. Sellicks-2 will now drill ahead to evaluate the Patchawarra Formation primary target, which is expected to be reached tomorrow. Since its discovery in July 2003 the Sellicks-1 has produced more than 250,000 barrels of oil or $17,500,000, using $70.00 per barrel oil and continues to produce strongly. However, new 3-D seismic mapping suggests that the discovery well may not be optimally located on the field, and the two appraisal wells are designed to test the potential for undrained oil updip and offset from Sellicks-1. Both wells will be deviated from a single well site located adjacent to the established field facility. The bottom-hole target for Sellicks-2 is located approximately 120 meters to the south of Sellicks-1. It has a planned total depth of 2,147 meters. All the wells mentioned in this press release adjoin ACOR's 41.5% working interest PEL 112 to the north and to the east.
Silver Sands-1 well came in with an initial potential of 1062 BOPD
Christies-1 well came in with an initial potential of 500 BOPD
Christies-2 well came in with an initial potential of 1960 BOPD
Christies-3 well came in with an initial potential of 2400 BOPD
Christies-4 well came in with an initial potential of 653 BOPD
Christies-5 well came in with an initial potential of 403 BOPD
Sellicks-1 well came in with an initial potential of 1780 BOPD
Worrior-1 well came in with an initial potential of 2800 BOPD
Worrior-2 well came in with an initial potential of 2000 BOPD
Worrior-3 well came in with an initial potential of 276 BOPD
Worrior-4 well came in with an initial potential of 1660 BOPD
The current production on the adjoining area to the north of ACOR's PEL 112 is averaging a reported $33,000,000 a year. The current production on the adjoining area to the east of ACOR's PEL 112 is averaging a reported $75,000,000 a year.
Why are we talking about the Wells that adjoin ACOR's PEL 112?
Take the smallest of the recent discoveries (276 BOPD) and multiply (x) it by $70.00 per barrel, current market price of crude oil times (x) 30 days, times (x) 12 months and apply it to times (x) ACOR's PEL 112 41.5% Working Interest and see the results for yourself. Now do the same with the largest discovery that adjoins ACOR's PEL 112.
Smallest Discovery so far, Worrior-3 IP 276 BOPD
Largest Discovery so far, Warrior-1 IP 2,800 BOPD
Now you can see why ACOR management is so excited about all the drilling activity that is going on adjoining ACOR's PEL 112 to the north and east. In our opinion, any one of the recent discoveries from the smallest to the largest could be a possible "Company-Maker" discovery for our company, if discovered on PEL 112. This is some of the most profitable production in onshore Australia, and ACOR is in the middle of it.
About PEL 112
ACOR has invested approximately five years of time and several million dollars on PEL's 112, 108, & 109. PEL 112 covers 818,904 acres and has never been drilled on (no dry holes) and is located in the Cooper/Eromanga Basin of South Australia. ACOR has just completed a new seismic survey on PEL 112 at a cost of approximately $1,100,000. The new seismic survey has discovered two large seismograph highs as well as 28 smaller ones. The two large seismograph highs are called C-23 & C-26, which cover a combined area of approx. 5,534 acres with excellent closure. ACOR is currently getting drilling bids for the two best drilling locations identified by seismic. The drilling locations for C-23 & C-26 have now been staked and the photos of the locations are available on our website.
ACOR owns 41.5% WI under PEL's 108, 109, & 112.
ACOR Management Visit to Australia
ACOR management is back from Australia, after attending the 2006 APPEA Convention May 7-10. ACOR management met with several investors who requested that we travel to see them. ACOR has received farmout requests for a portion of ACOR's 41.5% working interest under PEL 108, 109, & 112 and a portion of ACOR's 100% working interest under ATP-582, covering approximately 8,414,348 gross acres. Both areas are located in the Cooper/Eromanga Basin in South Australia and Queensland. ACOR management is seriously reviewing the farmout requests. Results of the meetings will be shared with you in forthcoming press releases.
About Australian-Canadian Oil Royalties Ltd.
ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT. ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait. ACOR is a publicly traded oil company trading on the NASDAQ OTC Bulletin Board Exchange under the trading symbol "AUCAF."
Summary:
Australia is a "hot spot" for oil & gas exploration and ACOR is positioned for possible "Company-Maker" discoveries. ACOR's working interest and overriding royalty interest are located offshore & onshore in the best producing basins.
Except for historical information contained herein, the statements released are forward-looking statements that are made pursuant to the provision of the Private Securities Litigation Reform Act of 1955. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
KEYWORD: NORTH AMERICA AUSTRALIA/OCEANIA TEXAS AUSTRALIA UNITED STATES INDUSTRY KEYWORD: ENERGY OIL/GAS NATURAL RESOURCES MINING/MINERALS PRODUCT/SERVICE SOURCE: Australian-Canadian Oil Royalties Ltd.
CONTACT INFORMATION: Australian-Canadian Oil Royalties Ltd. Roger Autrey, 512-784-7828 RLA*austin.rr.com
Candlestick Analysis Today’s Candlestick Patterns: White Candlestick Bullish Piercing Line
Today a White Candlestick was formed. This represents normal buying pressure. For more about this candlestick click here.
The last two candlesticks formed a Bullish Piercing Line Pattern . This is a bullish reversal pattern that marks a potential change in trend. Though it is highly reliable confirmation is still recommended.
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*********.com: ********* Alerts for Tuesday, May 30, 2006 Dalrada Financial Reports Results of Stockholders' Meeting While ARXG Gains Over 20% via COMTEX
May 30, 2006
Dallas, Texas, May 30, 2006 (M2 PRESSWIRE via COMTEX News Network) --
********* Pre-Market Updates for Tuesday include Dalrada Financial Corporation (OTCBB: DRDF) , Xenomics, Inc. (OTCBB: XNOM), Aurora Gold Corporation (OTCBB: ARXG), Australian Canadian Oil Royalties Ltd (OTCBB: AUCAF), VirTra Systems Inc (OTCBB: VTSI) and Cintel Corporation (OTCBB: CNCN) .********* Price Alerts feature companies with significant moves in either volume or price in the past two trading sessions. In our update we analyze recent news about the companies featured and detail the movement in the stock. If you would like to feature your publicly traded company in our alerts or on *********.com, email feature**********.com or call (469)252-3031
Australian Canadian Oil Royalties Ltd (OTCBB: AUCAF) - Shares closed up 10.53%. with total trading volume of 112,903 shares on Friday. The final price was $1.05 per share. On Friday, it was reported that the JV partner of ATP-299 announced the successful completion of Mulberry-12 as a Birkhead oil producer. Mulberry 12 was drilled at the Mulberry Field on ACOR's ORRI about 950 meters northwest of Mulberry 2. It encountered good oil shows with approximately 3-4 meters of net oil pay in the mid Birkhead reservoir unit and has been cased as a future oil production well. Rig PDI-735 was then released to the Huckleberry 1 near field exploration (NFE) well location. Huckleberry 1 is located approximately 2 kilometers west of Mulberry 2, and spudded on May 21st. The total depth of the Huckleberry-1 is 1,365 meters. The second drilling rig, PDI-724 continued drilling operations at the Endeavour field. Endeavour 11 spudded on May 19th. As of May 22nd, the surface casing had been set. Planned forward operations are to drill out the casing shoe conduct BOP tests and drill in 7 7/8" hole ahead to TD.
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$50 Million Dollar- 51 Well Drilling Program on ACOR's ORRI under ATP-299 - Endeavour-11 & Huckleberry-1 Strike Oil on the $5 Billion Dollar Potential Oil Field- Mimosa-1 Spuds
CISCO, Texas, May 31, 2006 (BUSINESS WIRE) -- Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF) reports that the JV partner of ATP-299 is pleased to announce that Endeavour 11 has been cased and suspended as a new oil production well. Endeavour 11 was drilled at the Endeavour Field on ACOR's ORRI approximately 300 meters southeast of Endeavour 1 encountered good oil shows with approximately 5 meters of net oil pay in the Birkhead reservoir unit and has been cased as a future oil production well. The drilling rig PDI -724 was then released to the Mimosa 1 near field exploration (NFE) well location. Mimosa 1 is located approximately 2 kilometers southwest of Endeavour 11 and 850 meters southwest of Endeavour 3.
The drilling rig PDI-735 drilled and is testing Huckleberry 1, a near field exploration well located approximately 2 kilometers west of Mulberry 2. Huckleberry 1 encountered good oil shows during drilling and the potential reservoir formations are being tested.
About The Mulberry Oil Field:
Mulberry-1 was drilled in 2004 and is producing oil at a rate of approximately 600 barrels of oil per day. The 51 wells are designed to achieve additional oil production and to test the extent of the oil pool in the Birkhead 11-77 sand discovered in the Mulberry-1 well. The Mulberry-Gimboola-Endeavour /Tintaburra Oil Field contain significant proved undeveloped oil reserves and exploration up side.
The Mulberry-Gimboola-Endeavour Field is part of the Tintaburra Oil Field on ACOR's ORRI under ATP-299 and is estimated to contain around 84 million barrels of proved plus probable oil in place or approximately $5,036,640,000, at current market prices.
ACOR owns .0575 of 1% ORRI under ATP-299.
12 Wells to Be Drilled - All Adjoin ACOR's 41.5% WI PEL 112 - Sellicks-2 IP 2685 BOPD-To be completed as a Multiple-Zone Oil Producer & a new oil pool discovery
Since the May 24th ACOR press release, Sellicks-2 has drilled ahead 140 meters in a deviated hole to reach a total depth of 2147 meters. DST- 1A (1984 - 2007 meters), which was reported last week, flowed oil to surface at a final rate of 2685 barrels oil per day and is a new-pool oil discovery in the Poolowanna Formation.
Since then, the well's primary target, the Patchawarra Formation, was intersected 5 meters updip of Sellicks-1 and wireline logs were acquired after reaching TD. This data shows that the reservoir interval is similar to Sellicks-1 and preliminary log interpretation indicates approximately 7 meters of oil pay in the Patchawarra and 3 to 6 meters in the Poolowanna.
In addition, two further sands within the Patchawarra are possibly oil-bearing, but could not be tested due to the hole limitations. It is planned to address this potential (up to 6m of oil pay) once production has been established from the Poolowanna and Lower Patchawarra intervals.
Casing was being run prior to completing the Sellicks-2 well as a multiple-zone oil producer. The Sellicks-2 adjoins ACOR's PEL 112 to the north.
Sellicks-3 Spuds Next
The rig will then be skidded about 5 meters to spud Sellicks-3, the 6th well of 12 wells to be drilled - all adjoining ACOR's PEL 112.
Since its discovery in July 2003 the Sellicks-1 has produced more than 250,000 barrels of oil or $17,500,000, using $70.00 per barrel oil and continue to produce strongly. However, new 3-D seismic mapping suggests that the discovery well may not be optimally located on the field, and the two appraisal wells are designed to test the potential for undrained oil updip and offset from Sellicks-1. Both wells will be deviated from a single well site located adjacent to the established field facility
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