Was haltet Ihr von Torrent ?
Management Encouraged by Initial Free-Flow Gas Rates on Westport Wells; Remains Optimistic about Commencement of Commercial Production in Second Quarter
Portland, Oregon – February 13, 2007 – Torrent Energy Corporation (OTCBB: TREN) today provided an update on developments at its wholly owned operating subsidiary, Methane Energy Corp. (“Methane”).
In early January 2007, Methane commenced its Westport completion program on the five wells drilled to date, and fieldwork is expected to continue through the month of February. The goal of the program is to test the permeability (pre-stimulation) of the various coal seams encountered in each well and determine the unstimulated gas and water production rates from each well. Methane is also testing and evaluating the downhole capability of water injection in two of the wells. Upon completion of this technical evaluation phase, the wells are scheduled to be stimulated using proppant fracs.
The status to date of the completion operations on each of the wells is as follows:
• MEC 9-21-26-13 – Basalt zone perfed, acidized and tested for water injectivity
• MEC 15-21-26-13 - Coal zones perfed, acidized and on pump – producing gas to flare and water
• MEC 13-15-26-13 – Coal zones perfed, acidizing under way
• MEC 16-16-26-13 – Coal zones perfed, acidized and on pump – producing gas to flare and water
• MEC 1-21-26-13 – Scheduled to be perfed and tested in basalt zone for water injectivity
Initial permeability of the various coal seams is being determined through acid injection fall-off testing. This is a relatively short test and longer water injection fall-off testing will be scheduled if warranted.
Torrent’s President & CEO John Carlson said, “We are on track with our Westport testing program and now have two wells on pump and dewatering. Two more wells are scheduled to commence production in the coming weeks. The flow of free gas at the start of production is very encouraging and we believe that we are still on schedule to show commercial production from the Westport area by the second quarter of 2007.”
Methane has put together an extremely experienced group of technical consultants to manage all field testing work and develop appropriate CBM reservoir models, thereby giving Methane the best chance of success in converting a very large resource— independently estimated at more than one trillion cubic feet of natural gas from coal known to exist in the Coos Bay basin—into proven CBM reserves.
Methane is using the services of Coal Gas Technology Company (”CGT”), a leading CBM testing and reservoir analysis firm located in Calgary, Alberta and Salt Lake City, Utah. CGT is managing all field testing on behalf of Methane and also plays a key role in the technical analysis and modeling of the various coal reservoirs based upon the data gathered in the field.
CGT’s analysis efforts are also supported by NSI Fracturing Technologies Inc. (“NSI”), a leading international expert in reservoir fracture design, optimization and implementation. NSI provides technical analysis of the injection fall-off data and is assisting with the design of the appropriate stimulation program to frac the wells.
Methane is also employing the services of MHA Petroleum Consultants (“MHA”), located in Golden Colorado, to integrate all geological and engineering data and analysis to provide a peer review of all technical work and to ensure a comprehensive understanding of the Coos Bay basin coal reservoirs. MHA also assists the Methane technical team in designing the optimum development strategy for future drilling and completion programs in Coos Bay.
Das sieht sehr gut aus !!
Die Aktie wird schon bald nicht mehr so billig zu haben sein ...
Gruß, k.
is ja auch egal! die letzten paar wochen waren m.a. nicht repräsentativ für den verlauf der letzten zwei jahre! das is teil is schon recht beweglich gewesen und wenn auf der falschen seite warst tut mir das leid. ein zock ist es sicher. aber geld kann man auf der richtigen seite immer verdienen. oder?
also - WENN NICHT JETZT ; WANN DANN ... ?? Diese Woche noch 1 € !!!
Torrent Energy Reaches Major Milestone Commercial Permeability in Coos Bay CBM Project
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Portland, Oregon -- April 24, 2007 -- Torrent Energy Corporation (the "Company") (OTCBB: TREN) today announced that it has reached the Company's most significant milestone to date. Permeability testing results for its coal-bed methane (CBM) natural gas project located in Coos Bay, Oregon, show that commercial permeability exists within the Company's core asset and gives the opportunity to quantify a potential 580 BCF of CBM resource as developable.
Average permeability for the Company's Westport pilot program has been measured at 8 millidarcies (md), with test data ranging between a low of 4 md and a high of 15 md. Permeability as it relates to CBM natural gas exploration/production is a measurement that defines the ability of gas to flow within the coal matrix. Permeability recorded at Torrent's Westport project are analogous to geologically similar and historically prolific CBM basins such as the Raton, Appalachian and Uinta Basins.
Commenting on the news, Torrent's President and CEO, John Carlson, stated, "We are extremely pleased with this data that defines above average permeability at Westport. After three years of field work, these test results mark a key operational milestone for the Company. We now have the hard technical reservoir data that, we believe, supports a commercial CBM project in Coos Bay."
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Torrent Energy's Coos Bay CBM Gas Project Enters Home Stretch With Material Progress on Multiple Fronts
Monday July 23, 7:00 am ET
PORTLAND, OR--(MARKET WIRE)--Jul 23, 2007 -- Torrent Energy Corporation (the "Company") (OTC BB:TREN.OB - News) announced today that material progress has been achieved during the last 45 days on a number of mission critical fronts required to bring its Coos Bay Coal Bed Methane natural gas project into commercial production. These milestones include: third party reservoir modeling which lends further credibility to internal field potential calculations; the completion of successful testing for a waste water disposal plan; and completion of initial design work for the gathering system to serve the first five Westport wells.
Specific operational progress during the past 45 days for Torrent's coal-bed methane (CBM) natural gas project located in Coos Bay, Oregon, and operated by its subsidiary Methane Energy Corp. ("Methane"), includes:
-- Methane has commissioned and received an independent engineering
report from MHA Petroleum Consultants forecasting future gas and water
production from a typical Westport well utilizing the field permeability
data discussed in Torrents April 24, 2007, press release. The Westport
wells 16-16 and 9-21 are currently producing gas to flare and formation
water to storage with the goal to history match the MHA deliverability
models in the coming months.
-- Methane has, during the last two months, successfully completed
testing of a water treatment system based upon licensed Texas A & M
technology that allows for the inexpensive treatment of future frac water
and produced water. Final permitting of a cost effective water management
and disposal system capable of processing 2,000 barrels of water per day is
expected in late-August.
-- Methane has signed a Memorandum of Understanding ("MOU") with an
Oregon-based pipeline company to facilitate the design and construction of
the initial gas gathering system at the Westport project area. The system
will tie in the initial five Westport wells and deliver gas into the Coos
County pipeline. The system will include sufficient capacity to add
additional Westport wells as they are drilled.
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"We now have a complete reservoir data set and operational solutions related to gas and water production to fully evaluate the economic viability of the Westport CBM resources identified in our Coos Bay project," said Torrent's president and CEO, John Carlson. "Under a scenario of expected capital and operating costs and local gas pricing mechanisms we can now calculate potential reserves and values on a per unit well basis that illustrate the positive rates of return on a full field development project."
These new results confirm the economic viability of the Coos Bay project and a full field development has the potential of developing a future un-risked asset value of between $160 million and $500 million. This range represents the potential economic development of the Coos Bay assets as a function of coal depth, drilling spacing area and under current costs and technology.
Carlson added, "We realize that this has been a long haul for investors, management and staff involved in the project, but not unexpected for a new CBM basin located in an area considered to be a frontier location. Now that we are closing in on the final details before going to commercial production, we are confident that Coos Bay will not only be well worth the wait, but will serve as a strong base for Torrent's expansion strategy by establishing solid positive cash flows for many years to come. The next few months will be an exciting time as we prepare for commercial production once the final water permits are received and pipeline construction starts."
About Torrent Energy Corporation
Torrent Energy Corporation is a growing exploration company focusing on developing non-conventional natural gas reserves in the Northwestern United States. The Company's primary objective is to create value for stakeholders by applying strong technical expertise to projects. The current focus of the Company's Oregon subsidiary, Methane Energy Corp., is on the exploration of the Coos Bay Basin project in southwestern Oregon where the Company currently has a land portfolio that includes over 118,000 acres of prospective land. For more information please visit www.torrentenergy.com.
On behalf of the Board of Directors,
TORRENT ENERGY CORPORATION
John Carlson, President & CEO
Safe Harbor Statement This news release includes statements about expected future events and/or results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements in this release include, but are not limited to, that the Westport wells can match the MHA deliverability models in the coming months; that final permitting of the initial 2,000 barrels of water per day water management system is expected in late-August; the Oregon based pipeline company facilitate the design and construction of the initial gas gathering system at the Westport project area which will tie in the initial five Westport wells and deliver gas into the Coos County pipeline; that the system will include sufficient capacity to add additional Westport wells as they are drilled; that full field development has the potential of developing a future un-risked asset value of between $160 million and $500 million; and that that we are closing in on the final details before going to commercial production.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include that our contractual partners may not perform as expected, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, inability to maintain qualified employees or consultants, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling and/or interpreting data, market fluctuations and spot prices for gas, and the possibility that no commercial quantities of gas are found or recoverable. For more risk factors about our Company, readers should refer to risk disclosure in our most recent 10-K filed on Edgar.
Contact:
For further information please contact:
Investor Relations in the U.S.
Pfeiffer High Investor Relations, Inc.
Geoff High, Principal
Phone: 303-393-7044
Email: Email Contact
Investor Relations in Canada
CHF Investor Relations
Kelly Cody, Associate Account Manager
Phone: 416-868-1079 ext. 223
Email: Email Contact
Torrent Energy Corp.
John Carlson, President & CEO
Phone: 503-224-0072
Email: Email Contact
Quelle: http://biz.yahoo.com/iw/070723/0280889.html
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