Look what I just got. Thanks budding detectives. Great inboxes. Now over 100 posts by Anthiny "All that Glitters is not gold...rolling in. Remember if we are going to win post their sins" (aka rich 471).
Good to review to get back up to speed with the times while re-reading what GNZ-PNN were putting out in MD&A's and Qtrlys at the time. I keep asking myself, was there a motivation to not put the puck in the net at Pincher Creek? It seems more striaghforward than Pasquia Hills but we have 3 new recruits working on Pasquia Hills. Special thanks to new enrollees! .
Pincher Creek Update. posted on Feb 12, 09 05:51PM....This is from the partner's press release (Montello).
"At Pincher Creek preliminary approval was received on January 29, 2009 from the Energy Resources Conservation Board (ERCB) to proceed with the construction of a 258 meter long sweet gas pipeline after land owners lifted their objections. It will connect the 100/01-11-29W4M well to the pipeline system feeding Shell Oil's Waterton gas plant. On test, this well has produced light oil and solution gas from both the Brown Sand and Cadomin formations. A comingling application will be made to the ERCB to allow the two formations to be produced simultaneously. Montello has a 25.00% interest in the 01-11 well prior to payout and 15.00% after payout. It is anticipated that production from the well can commence before the end of the 2nd Quarter of Calender 2009."
I might have some additional information for you on this soon. rich47. ( I'm still waiting with bated breath Rich er Anthiny er......)
rich47 Pennine Pincher Creek news update. posted on Oct 24, 08 12:09PM
Pennine the operator released a progress report on Pincher Creek.
October 24 2008, CALGARY, Alberta – Pennine Petroleum Corporation (TSX.V-PNN) announces it has initiated long term production testing effective Wednesday 22 October 2008. The Service Rig was released after accessing the Brown Sand reservoir and placing rods and a bottom hole pump. The operation to date has been trouble free and under budget. Initial results will be forthcoming and the Company will keep updating activities on a timely basis. http://www.kitco.com/pr/2074/article...
rich47 Pincher Creek update from Marc. posted on Aug 27, 08 01:01AM
This is courtesy of Marc Dame regarding progress on Pincher Creek. rich47. (Selective Disclosure : only to clown's blog readers!)
The problems we and the other working interest owners are experiencing with the operator of the property whom have not been able to complete putting a well that was successfully re-completed last October onto production. We believe that the issues relating to seeing that the oil well that was
re-completed goes onto production will be resolved by the end of September, if not Goldnev and the other partners will work with the operator to ensure that steps are taken to get this well onto
The holdup on completing the Pincher Creek acquisition is mainly that an independent engineering evaluation report be prepared to assess the value of the project which would have made a big difference if the well was on production. The report is expected to be completed in the next
two weeks and from the work prepared by us and supported by the Ashton report we believe that several oil wells can be drilled in the existing pool and is a great opportunity for the company"
SELECTIVE DISCLOSURE.....supposedly agst Cdn Security Rules. you're kidding me!
Good gried here's a letter from the President that only went to the "lucky ones on the list or to Richie rich's blog readers. Why not disseminate a to all sharheolders over a free dissemination service like stockwatch or something? All the RCMP and securities boys have to do is go to the offices of chapman engineering and check for Antiny's IP address aka Rich 471
rich47 (Hey Rich or Marc $10.00 prize if you just name one or two things below that came true)
I just received an e-mail from Marc- entire content
posted on Feb 21, 08 07:33AM
Your right it has been crazy of late both from the market and other projects and opportunities that we have also been developing for the company and I expect you will see a lot of action out of Goldnev over the next 3
Thank you for sending me the Rendall Process though I have heard of it and had some information I did not have the technical report which is very helpful. We are working over the next month to complete the Resource Report and a section in the report will be addressing the various retort and other oil shale processing technologies. After reviewing the process section of the report I believe it will set aside any thoughts that the technology exists now to commercially process oil shale which should provide a substantial boost to the perception in the marketplace that seems to think that we can't currently process the shale if it is found near surface, the fact is we can and will be able to prove it to everyone soon.
In response to your questions:
1) As a public company Goldnev has to perform an independent engineering evaluation report/appraisal on its reserves and if it so chooses also on its resources for the year-end which get filed at the same time as the audit. Goldnev's year-end is March 31 which is why we are wanting to push to complete the Resource Report since I would like the independent engineering evaluation firm to also audit or review the Pasquia Hills Resource Report since I want it included in the F-1 filing. Degolyer and McNaugthon will be performing again our independent reserves report and F-1 Filing.
2) By plans contemplating for the $1,000,000 Aug/08 oil shale payment commitment, I am assuming you mean how do we plan on paying for it? We have just finished completing the 2 workovers at Provost and are currently putting both wells onto production so the thinking has been that if and when the recompletion at Noel is finalized and assuming it's a success, we would look at selling Provost since we expect to get a least a million for the property. The Provost monies could be applied to either or both the Pasquia Hills and Noel drilling programs and that is still our thinking.
Goldnev though is in good shape, it has no real debt and we have currently over a million dollars cash in the bank. Over the last 2 months I have been able to get most of the company's warrants exercised so we have the money in place now to pay for the Noel re-completion and the 10 well core hole drilling program at Pasquia Hills. We also have a lot of brokerage and institutional interest in a financing and will be almost certainly be wanting to do a private placement after the resource report is released since we will want to plan a second drilling program at Pasquia Hills which together with the first 10 hole program will complete our $1 million dollar 2008 commitment at Pasquia Hills. The company will also want to plan for and pay for a drilling program at Noel which we need to do to get real cash flow in the company so that future financings requirements will be dimished. Goldnev will also plan to complete some more acquisition in 2008 and focus on developing or acquiring an oil property since I want a good oil production deal in the company to round us off and provide further cashflow. The production g oal for oil and gas is a
minimum of 1,000 barrels/day by the end of the year so we are very ambitious and will likely be requiring to raise the necessary funds thoughout the year to support all three programs.
Hope this answers your questions and want to thank you for your nice words and will call you this afternoon to answer any further questions you may have.