Adelaide Energy Limited
 

Welcome to Adelaide Energy Limited (ADE)

Adelaide Energy is a South Australian company formed in October 2005 to explore and exploit oil and gas opportunities.  Adelaide Energy Limited (ASX code: ADE) was admitted to the Official List of the ASX on Thursday 14 June 2007.  Official quotation of the Company’s securities commenced on Monday 18 June 2007.

Company Highlights

  • Listed 14 June 2007, now a moderately sized but expanding multi-national company  
  • Drilled its first gas and oil discovery well in July 2007
  • Aggressively focusing on oil and gas exploration and production
  • Operator for Drilling and Seismic programmes in three permits
  • Portfolio embraces exploration acreage in
    • Australia (Cooper, Eromanga and Otway basins)
    • United States (Florence Basin, Colorado)
  • The Company is earning income from hydrocarbon production from the Otway Basin, South Australia, and Florence Basin, Colorado
  • ADE has positive cash flow and is operating debt-free

PEL 218: Eromanga and Cooper basins, central Australia

  • Large permit with numerous oil and gas plays in anticlinal targets
  • Multi-TCF deep-basin gas potential  in the Nappamerri Trough
  • Exploitation of this potential resource has taken a step closer to fruition following the Beach Petroleum Limited farm-in to PEL218 and cash payment to ADE
  • Beach will contribute $2.5 million towards ADE’s share of future exploration expenditure in PEL218
  • The large 2000 HP drilling rig capable of drilling long horizontal well paths now has arrived in Australia – its arrival overcomes limitations ADE previously faced to drill extended-reach horizontal wellbores

PEL 105: Cooper Basin, central Australia

  • Anticlinal and flank plays in the liquids-rich Patchawarra Trough
  • Surrounded by oil and gas fields and in close proximity to major oil and gas hubs

PEL 255: on-shore Otway Basin, south-east South Australia

  • Maiden income received from the Katnook gas plant (100% ADE)
  • Jacaranda Ridge-2 discovery well flowed 3 mmcfd with 235 barrels oil and condensate/day
  • After interpretation of the Jacaranda Ridge 3D Seismic Survey the mean potential 2P (P50) reserves in place have increased by a factor of 25 times to 7.7 million barrels of oil equivalent
  • Winning bidder for two new exploration blocks following the 2008 acreage release by the South Australian Government

West Florence, Colorado

  • On-going oil production from the Codell Formation with additional zones (including the Pierre Formation) yet to be evaluated
  • ADE’s acreage is adjacent to the  Florence Field that was first produced in 1881 (cumulative Florence Field production 15MMbbl from the Pierre Formation)