Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (1737)	7/5/2013 9:56:03 AM
From: Goose94	Read Replies (1) \| Respond to of 202832

CWV-V finding some interest in it's stock.

To: Goose94 who wrote (1737)	7/17/2013 5:55:24 PM
From: Goose94	Respond to of 202832

CWV-V Argentina oil & gas play. Crown Point to drill eight wells at Las Violetas July 17, 2013 - News Release Crown Point Energy Inc. has provided an operational update for its 25.78-per-cent interest Las Violetas exploitation concession in the province of Tierra del Fuego and for its 100-per-cent interest Neuquen basin in the Cerro de Los Leones exploration concession in the province of Mendoza. Operational update Tierra del Fuego, Austral basin Drilling operations Crown Point and its partners are currently reviewing several drilling rig options and negotiations are under way to obtain and import a drilling rig into Tierra del Fuego to conduct a multiwell and multiyear drilling program on its 25.78-per-cent interest Las Violetas exploitation concession in the province of Tierra del Fuego. Drilling operations are expected to commence in the fourth quarter of 2013. The initial program of eight wells is part of a multiwell drilling campaign to exploit the predominantly gas-charged Springhill sandstones on its concessions in the province of Tierra del Fuego in particular the Las Violetas concession. Capital expenditures for Crown Points' capital program are expected to be financed using Crown Point's existing resources and cash flows. The initial eight-well phase of the Las Violetas exploitation concession drilling program is a low-risk development program. These wells are expected to take 20 days to drill and case (including rig up and rig down), and completion and tie-in are expected to take an additional 30 days per well. The locations are fully defined with 3-D seismic and are either infill locations or low-risk pool step-outs. Additionally, Crown Point and its partners have identified a number of high-reward exploration and exploitation locations on the Las Violetas exploitation concession. If any future drilling activities at these locations is successful, it could further add to the present drilling inventory. It is anticipated that production increases resulting from the drilling program will qualify for improved gas pricing under the new gas incentive program, announced by the Argentine government in January, 2013. Crown Point has applied for participation in the new gas incentive program. The government of Argentina has extended the negotiation period until Aug. 15, 2013. As previously announced, Crown Point and its partners recently received all necessary governmental approvals for 10-year extensions of the Las Violetas exploitation concession, as well as the Rio Cullen and Angostura exploitation concessions, in which Crown Point also holds a 25.78-per-cent interest and which are also in the province of Tierra del Fuego. The following are the key terms of the extensions. Las Violetas exploitation concession: Cash payment: $5-million (U.S.) (gross) (net $1.3-million) paid in three equal instalments commencing immediately and subsequently in 180-day successive periods; Base royalty: increase from 12 to 15 per cent; Variable royalty: 0.5 per cent to a maximum of 2.5 per cent (in 0.5-per-cent increments) with increasing oil and gas prices; Minimum total development investment commitment: $46.9-million (U.S.) including 18 wells (gross) (net $12.1-million (U.S.)) to be expended over the remaining life of the concession; Minimum total exploration investment commitment: $5.0-million (U.S.) (gross) (net $1.25-million (U.S.)) to be expended over the next 60 months. The two-year capital commitment for the Las Violetas exploitation concession, including the extension fee, development and exploration commitments, is $21.23-million (U.S.) (gross) (net -- $5.47-million (U.S.)). Rio Cullen and Angostura exploitation concessions: Exploration commitment -- Rio Cullen: $3.3-million (U.S.) (gross) (net $850,000 (U.S.)), Angostura: $3.8-million (U.S.) (gross) (net $980,000 (U.S.)) -- which in both cases includes seismic and drilling and is to be expended over a 24-month period; Base royalty: increase from 12 to 15 per cent; Variable royalty: 0.5 per cent to 2.5 per cent (in 0.5-per-cent increments) with increasing oil and gas prices; After fulfilment of the exploration commitments there is an additional minimum total additional investment commitment on each concession: $1.8-million (U.S.) (gross) (net $460,000 (U.S.)). The combined two-year capital commitment for both the Rio Cullen and Angostura exploitation concessions is $7.1-million (U.S.) (gross) (net -- $1.83-million (U.S.)). Cerro de Los Leones, province of Mendoza, Neuquen basin The seismic interpretation and geological integration continues at the 100-per-cent interest Cerro de Los Leones exploration concession focusing on two separate potentially multizone structural features. These structural features have been identified on the recently acquired 3-D seismic program. The structural features comprise the northern extension of a larger structural trend of producing fields located immediately to the south of Crown Point's concession, which producing fields include the YPF field Pampa Palauco. The Argentina Secretary of Energy records show that Pampa Palauco has to date produced 21.4 million barrels of oil. Engineering well design and reservoir evaluation is under way for these two prospects. A drilling rig of suitable capacity to drill and evaluate these two structures is expected to be available at year-end. These drilling of these structures would evaluate both the conventional reservoirs as well as the unconventional Vaca Muerta oil shales. We seek Safe Harbor.