Hi all Wonder what it takes to move this stock? oil is flowing freely money in the bank and more to come soon still s/price doesnt want to move north it wont be long now i reckon plenty of accumulation been taking place in the 007-008 cents range and nearly ready to move up a notch or 2 my opinion only please do your own research
Oseil Oilfield Production Update
Document date: Mon 24 Feb 2003 Published: Mon 24 Feb 2003 15:24:43 Document No: 135856 Document part: A Market Flag: Y Classification: Progress Report KALREZ ENERGY LIMITED 2003-02-24 ASX-SIGNAL-G
HOMEX - Adelaide
+++++++++++++++++++++++++ Kalrez Energy Limited is a 2.5% shareholder in the Seram Joint Venture that operates the Oseil oilfield. The major shareholder, and Operator of the JV, is KUFPEC (Indonesia) Limited with 97.5%.
Production from the Oseil oilfield commenced on December 30th 2002, with processing taking place through a Temporary Production System ("TPS") nominally rated to approximately 12,000 barrels per day throughput.
The TPS facility is a temporary process facility to be utilized until the permanent facilities currently being installed are completed. Current expectations are that the permanent facilities will be available during April 2003.
REPORTING PERIOD FROM MIDNIGHT TO MIDNIGHT 16TH FEB 2003 23RD FEB 2003
Oil produced for the period 80,055 barrels of oil
Average daily production for the period 11,436 barrels of oil
Cumulative oil produced from 31/12/2002 445,842 barrels of oil
Oil sold during the period 241,299 barrels of oil (as reported in ASX Announcement 06/02/2003)
Oil in stock 204,543 barrels of oil
The above represent total production from the Oseil oilfield as reported by the Operator. Kalrez entitlement is 2.5% of this production after deducting operating costs and Indonesian government entitlements.
COMMENTS
All three wells Oseil #1, Oseil #2 and Oseil #4 on production.
Steam heaters arrived on location 3rd Feb 2003 and remain operating under field trial control and performing effectively in the TPS process system to assist in combating foam induced process problems and to aid water separation (emulsion breakdown).
Current operations are continuing production through the TPS system.
