Contact Details
Head Office:
Level 5, 70 Pirie Street
Adelaide, SA 5000
Australia
Postal Address:
GPO Box 93, Adelaide,
SA 5001
Australia
Phone:
+61 (08) 8228 5207
Click here to email us
|
 |
|
|
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
- 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
- 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
- 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
- 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)
|
|
