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30/5/2004 22:42
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greenspanner
N° messaggi: 56 -
Iscritto da: 17/3/2004
Why not ring them and ask?
As Confusius say, "Man who waits on mountain top with mouth open, waits long time for roast duck to fly in".
or as Greenspanner say, "DYOR-(do your own research)"
' target='window'>http://www.aurado.com
Canadian Office:
c/o Stikeman Elliot
4300 Bankers Hall West
888 - 3Rd St S.W.
Calgary, Alberta T2P 5C5
Tel.: 403 399 9047
Efax: +44 207 681 2684
Executive Office
Piazza Del Sole 2.
6982 Agno-Lugano
Switzerland
Tel.: +41 91 610 1740
Fax: +41 91 610 1749
Kazakhstan Office
94, Shevchenko Str.
480072, Almaty
Republic of Kazakhstan
Tel.: +7 3272 506 133/134
Fax: +7 3272 506 153
Dubai Office
PO Box 72784,
Suite 704, Al Moosa Tower I,
Sheikh Zayed Highway, Dubai
Tel: +9714 332 5392
Fax: +9714 332 5394
For further information please contact:
David R. Robinson at:
Tel.: +33-1-3080-0583
E-Mail: david.robinson@aurado.com
Ian Baron at:
Tel.: +971-50-452-9587
E-Mail: ian.baron@aurado.com
Mirko Wojcik at:
Tel.: +41-7-96-21-34-54
E-Mail: mirko.wojcik@aurado.com
General Enquiries at:
E-Mail: info@aurado.com
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2 di 4
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14/6/2004 21:14
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xcalibur
N° messaggi: 50 -
Iscritto da: 20/5/2004
au is the symbol for gold isnt it and eldorda is a place of gold? Is this a Gold company turning its focus on oil to get investor interest?
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3 di 4
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15/6/2004 00:42
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jets
N° messaggi: 32 -
Iscritto da: 30/5/2004
yes i have found out some history of aurado. this was a mining co. it now is in the oil and gas industry. i have just bought some shares. it is only aa gut feeling. i like small and mid cap oil and gas co. some i have held for years. they have all done me well over time. i only like the co. that are on the tse and the american exchanges. thank-you greenspanner for info on the co.
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4 di 4
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23/6/2004 23:03
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benita2
N° messaggi: 130 -
Iscritto da: 17/3/2004
Strategy
The Company has modest producing oil & gas assets in Canada, which provide cash flow but are non-strategic. Looking forward, the geographic focus for Aurado's operations is the Caspian and Middle East, the location of some 70% of the world's oil, and 40% of the world's gas reserves. Within this vast region the Company is focusing on specific territories based on analysis of technical, commercial, political and other factors. The project focus is to acquire principally oil assets at or near the production stage which have ready access to export markets. Wildcat exploration is not part of the strategy in the foreseeable future.
The first acquisition made by the Company under this strategy is the Liman Block in Kazakhstan (see details) and other assets are under evaluation or negotiation in both Kazakhstan and Turkmenistan. Aurado also recognizes a significant number of potential acquisitions in the Middle East and will embark on assessing these in the longer term. The assets the company is targeting at the present time are anticipated to result in gross production in the order of 100,000 barrels per day. The net production to Aurado will be contingent on the terms of the agreements negotiated with the governments and the level of equity retained by Aurado in each project. Recoverable reserves being targeted are in the order of 1.0 billion barrels of proven plus probable reserves. Acquisition and development of these projects will take place over the next 5 years.
Liman Block
The Liman Block is roughly 6500 square kilometers and is located in western Kazakhstan on the north shore of the Caspian Sea bordering the Ural River. It lies within the highly prolific Pre-Caspian Basin, which has oil fields at multiple levels and reserves currently in the order of 45 billion barrels of oil equivalent.
Under the former Soviet system, an exploration program was carried out on the Liman Block, which resulted in the discovery of several oil fields, mainly in the south close to road and rail infrastructure. To date these small licenses (which are excluded from the Liman contract) have produced some 400 million barrels of oil. The block contains at least 56 additional targets, mainly salt related structures between depths of 500 and 2500 meters, with varying degrees of hydrocarbon potential. An independent Resource Potential Report has been prepared on these and the block is assessed to have resource potential of 708 million barrels.
Recent activity by major oil companies in Kazakhstan has focused on deeper stratigraphic levels and the recent Kashagan discovery has reported proven reserves of 8-10 billion barrels. The Liman Block lies some 70 km north of the Kashagan discovery and may have smaller prospects at the same geological level as Kashagan. These remain to be evaluated.
The first target of the drilling program on the Liman Block was at East Tegen where drilling commenced in November 2002. The presence of oil in this pool was proven by the Soviet stratigraphic drilling program and recent seismic data has allowed mapping of the structure. Aurado's initial well was drilled to around 572 meters and encountered hydrocarbon indications at three levels. Testing of the shallowest zone between 370 - 375 meters resulted in oil being produced to surface at up to 690 barrels of oil per day. Temporary production facilities are under construction to produce oil from this well and appraisal drilling is planned for July 2003.
The East Tegen Cretaceous reservoir has been assessed as having reserves of between 8 and 30 million barrels and a capital budget of around $20 million will be required to develop the field depending on its ultimate size. Much of the capital will come from production revenues.
Evaluation of the other shallow structures on the Liman Block is underway and three others have already been highlighted for drilling in the near future. Drilling locations have been selected on these and submitted for approval to the authorities.
Development of the Liman Block will therefore take place with three concurrent programs; the first to appraise and develop the East Tegen Field, the second to evaluate the shallow prospects on the Block and the third to evaluate the deep potential. These programs will be funded through project financing, revenue streams and possibly through farm-out or similar partnering arrangements.
Recent activity on the block has seen the drilling of East Tegen 2 which penetrated two zones which are seen to be oil bearing on the electric logs. The shallow gas zone encountered in East Tegan 1 was also present in the second well and had to be dealt with before the testing program could be implemented. Testing of East Tegen 2 is scheduled for mid October. The third well to be drilled on the field was at the East Tegen 5 location and coring of the same oil bearing reservoir at 371 m has been completed. Coring of the lower oil zone at 402 m will also be carried out on this well, following which both zones will be production tested. Temporary production facilities have been completed and a contract for sale of the test production has been signed with deliveries of oil due to start in mid October.
Canadian Production
The Company's current production in Alberta western Canada, is modest and provided the Company with around C$140,000 at current product price levels.. Although non-strategic, while it continues to provide cash flow to Aurado it will remain in the portfolio as it is non-operated and does not require significant financial resources to sustain it. The Company will also keep an open mind towards further non-operated acquisitions in North America, as it is an excellent stable business environment.
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As Confusius say, "Man who waits on mountain top with mouth open, waits long time for roast duck to fly in".
or as Greenspanner say, "DYOR-(do your own research)"
' target='window'>http://www.aurado.com
Canadian Office:
c/o Stikeman Elliot
4300 Bankers Hall West
888 - 3Rd St S.W.
Calgary, Alberta T2P 5C5
Tel.: 403 399 9047
Efax: +44 207 681 2684
Executive Office
Piazza Del Sole 2.
6982 Agno-Lugano
Switzerland
Tel.: +41 91 610 1740
Fax: +41 91 610 1749
Kazakhstan Office
94, Shevchenko Str.
480072, Almaty
Republic of Kazakhstan
Tel.: +7 3272 506 133/134
Fax: +7 3272 506 153
Dubai Office
PO Box 72784,
Suite 704, Al Moosa Tower I,
Sheikh Zayed Highway, Dubai
Tel: +9714 332 5392
Fax: +9714 332 5394
For further information please contact:
David R. Robinson at:
Tel.: +33-1-3080-0583
E-Mail: david.robinson@aurado.com
Ian Baron at:
Tel.: +971-50-452-9587
E-Mail: ian.baron@aurado.com
Mirko Wojcik at:
Tel.: +41-7-96-21-34-54
E-Mail: mirko.wojcik@aurado.com
General Enquiries at:
E-Mail: info@aurado.com