kennedy a dud, page-6

wisteria is no more a chance than magnolia, and in terms of POS the texas wells are far superior to the offshore bonaparte well.. wisteria is condsidered 20% POS and i think some brokers have put a consevative 40% POS on the zone 1 austin chalks wells.. which imho may not be entirely accurate..

ADI has 4 wells in texas continiously drilling from now on, and one well in the timor sea called wisteria.. and a few wells in yemen next year.. 7 wells in the near term.. and the 8th well, kennedy, still being very much in contention.. ADI has never had that sort of promise on its plate before!!

imho with all that in mind, your looking at a very very good program ahead, with the majority of wells being in a 40% POS position..

i dont know of any explorer with a similar drilling program on 3 potentially company making prospects.. high risk and high reward, and its an issue you should seriously consider when investing in an O&G stock, and in no way can the risk factor be a criticism of adi, it part and parcel of all O&G stocks.. they can be and often are volatile!



i am not pinning my hopes on wisteria in any way.
Kowalik will be reporting on their pilot hole before wisteria gets near its first target. i think the first news will come from kennedy, then kowalik, then wisteria

so far no one has indicated in their posts where the jvp have stated kennedy is a dud.. interesting that an opinion on kennedy is being touted yet no explanation as to what aspect of the report is indicating the well is a dud has been put forward.. i would be interested in some reasonings on that..

i saw the report as an update on kennedy with no opinion added, it certainly showed improvements in gas from minor gas shows to recordable flow rates of some substance.. and it seems the bopd rate also increased, and until stabilized flow is achieved its not been considered a failure..

the frac did screen out 50%.. i wonder if the frac consultants can come up with a solution there and if TCEI will put forward a frac program for the remainder of the well,, early days and way to wearly to call is the best way to view it..

i saw the update as neutral and allowing some optimism still..

remember that TCEi is the operator here not ADI!! so your investment in adi is as a JVP partner in the sugarkane project..