ACOR Purchases Additional ORRI under Offshore Australia VIC/P53 - Surrounded by Nine (9) Giant Producing Oil & Gas Fields with Combined Production of Approx. $210 Billion at Current Market Prices.CISCO, Texas Cisco is a city in Eastland County, Texas, United States. The population was 3,851 at the 2000 census. Conrad Hilton started the Hilton Hotel chain with a single hotel bought in Cisco. -- Australian-Canadian Oil Royalties Ltd. (herein called ACOR ACOR Association of Cancer Online Resources ACOR American Center of Oriental Research ACOR Advanced Certificate in Operational Risk ACOR Assistant Contracting Officer Representative ACOR Actual Cost of Repair ACOR Administrative Contracting Officers Representative ) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AUCAF) is pleased to announce that ACOR has purchased an additional ORRI ORRI Overriding Royalty Interest ORRI Orthorectified Radar Image ORRI Orlando Regional Rehabilitation Institute (Orlando, FL) under VIC/P53. ACOR's ORRI is located in the prolific Gippsland Basin. VIC/P53 consists of 182,858 gross acres. VIC/P53 is also called the "Hole of the Donut" as it is surrounded by 9 giant producing oil & gas fields, leaving VIC/P53 in the middle. The $210 Billion Dollar Neighborhood When purchasing Real Estate you are always told, Location, Location, & Location. ACOR management feels VIC/P53 is located in a great neighborhood. For example, Some of the very best oil production in the world is the found in the Halibut halibut: see flatfish. halibut Any of various flatfishes, especially the Atlantic and Pacific halibuts (genus Hippoglossus, family Pleuronectidae), both of which have eyes and colour on the right side. Oil Field. The Halibut Oil Field is approx. 1.8 miles west of ACOR's VIC/P53, where the average well has produced 60,000,000 bbls of oil or $4,200,000,000 worth of oil per well, at today's prices of $70.00 per barrel. The nine giant oil & gas fields that surround ACOR's VIC/P53 have some very impressive production figures as shown below. The fields are still producing.
1. Kingfish Field has produced 1,100,000,000 barrels of oil or
$77,000,000,000 at current market prices of $70.00 per barrel.
2. Bream Field has produced 88,000,000 barrels of oil or
$6,160,000,000 at current market prices of $70.00 per barrel.
3. Barracouta Field has produced 1.1 TCF of gas or $2,750,000,000
at $2.50 per mcf gas prices.
4. Snapper Field has produced 630 BCF of gas or $1,575,000,000
at $2.50 per mcf gas prices. The nearest well in the
Snapper Field is approx. 1 mile from ACOR's VIC/P53 lease
line. ACOR's Seismic work shows a seismic high coming from
the Snapper Field possibly extending over into Permit 53.
The Snapper Field has produced an avg. of approximately
105 BCF of gas per well.
5. Marlin Field has produced 2.4 TCF of gas or $6,000,000,000 at
$2.50 per mcf gas prices.
6. Fortesque Field has produced 260,000,000 barrels of oil or
$18,200,000,000 at current market prices of $70.00 per barrel.
7. Halibut Field has produced 820,000,000 barrels of oil or
$57,400,000,000 at current market prices of $70.00 per barrel.
8. Cobia Field has produced 135,000,000 barrels of oil or
$9,450,000,000 at current market prices of $70.00 per barrel.
9. Mackerel Field has produced 450,000,000 barrels of oil or
$31,500,000,000 at current market prices of $70.00 per barrel.
The WI partner of VIC/P53 has completed the shooting of 524 square kilometers of high resolution 3D seismic data on VIC/P53 at an estimated cost of $US5,000,000. One of the prime purposes of the 3D seismic survey in VIC/P53 was to investigate the area to the east of the Veilfin-1 well, which produced oil and gas shows, referred to as the Bazzard Lead. The WI partner is now processing the seismic data and will employ leading interpretation and depth conversion experts to interpret the data and to carry out detailed depth conversion calculations. By 2006, the operator plans to have completed its studies and to be then ready to drill a well in the Permit, subject to rig availability. VIC/P53 is considered prospective for oil and gas at the top Latrobe and also at deeper intra Latrobe levels. VIC/P53 is surrounded by the oil and gas producing fields held by EXXON/BHP. The location, adjacent to this infrastructure, and proximity to pipelines, processing facilities and major markets, offers potential advantage through infrastructure savings and gives encouragement to participation in VIC/P53. The hydrocarbons recorded at Veilfin-1 established the existence of a working petroleum system in the permit area. ACOR owns 3/20ths of 1% ORRI under VIC/P53. More ACOR Assets in the Gippsland Basin ABOUT VIC/P54: $171,000,000 Hostile Takeover Hostile Takeover A takeover attempt that is strongly resisted by the target firm. Notes: Hostile takeovers are usually bad news, as the employee moral of the target firm can quickly turn to animosity against the acquiring firm. Bid Officially Submitted Attempting To Acquire VIC/P54 Longtom Gas Field on ACOR's ORRI Anzon Australia has lodged a $A171,000,000 bid for its all-share takeover offer for Nexus Energy. Nexus Energy is the operator of VIC/P54 on ACOR's ORRI. One of the main targets being sought in the attempted takeover bid Noun 1. takeover bid - an offer to buy shares in order to take over the company two-tier bid - a takeover bid where the acquirer offers to pay more for the shares needed to gain control than for the remaining shares is the revenue potential that exists within the Longtom gas Field, located on ACOR's ORRI under VIC/P54 in the Gippsland Basin. Nexus Energy's managing director has rejected the hostile $171 million takeover bid from Anzon Australia Ltd, describing it as inadequate. Anzon expects to send the offer to Nexus shareholders in mid-April. The offer would then have a closing date of mid-to-late May but this could easily be extended. The terms of offer could also be changed. It is now up to the Nexus shareholders to decide. The Longtom Gas Field is located in the Gippsland Basin and was discovered by BHP BHP blood hydrostatic pressure; the pressure exerted by the blood cells and plasma in the capillaries. in 1995, but was considered sub-commercial at the time due to the lack of maturity of the gas markets and the interpreted reservoir quality. A 386+ meter gas column was intersected in the Emperor Formation in Longtom-1. Longtom-2 was drilled in late 2004. A 400+ meter gas column was confirmed within the structure. The lower reservoir section in Longtom-2 flowed at a stabilized rate of 18-19 mmcf/day over a 12 hour period -- an excellent result confirming the commercial potential of the previously untested lower reservoir section in Longtom. Longtom-3 will be a multi-purpose appraisal seeking confirmation of the lateral extent of the lower reservoir as well as exploration of the anomaly higher in the stratigraphic stra·tig·ra·phy n. The study of rock strata, especially the distribution, deposition, and age of sedimentary rocks. strat column. Should the takeover attempt Noun 1. takeover attempt - an attempt to take control of a corporation bear hug - a takeover bid so attractive that the directors of the target company must approve it or risk shareholder protest fail, ACOR is pleased to announce that the current operator of VIC/P54 has successfully raised $44.2 million. A portion of the capital raised will enable the operator to rapidly progress the commercialization of the Longtom Gas Field. The Longtom-3 well is expected to drill by May or June of 2006. A good result from Longtom-3 appraisal well would clarify the independent assessment from Gaffney Cline cline, in biology, any gradual change in a particular characteristic of a population of organisms from one end of the geographical range of the population to the other. & Associates for the Longtom Gas Field to possibly contain estimated reserves of 316 billion cubic feet and possibly add a further 250 billion cubic feet, which at the moment is listed as possible in the upper reservoir. ACOR's ORRI under VIC/P54 is located in the prolific Gippsland Basin of the Bass Strait Bass Strait (băs), channel, 80 to 150 mi (129–241 km) wide, between Tasmania and Victoria, SE Australia, connecting the Indian Ocean and Tasman Sea; Port Phillip Bay and Melbourne are on the northwest coast. and consists of 155,676 gross acres. Contract Signed With Santos to Sell 320 BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter of Gas on VIC/P54 ACOR is also pleased to announce that the operator of VIC/P54 has signed the Longtom Gas Sales and Toll Processing Agreement with Santos. The agreement will enable the operator of VIC/P54 to process and sell up to 350 BCF of gas over 12 years (with an option for additional 91 BCF of gas) from the Longtom Gas Field located in Bass Strait on ACOR's ORRI. The gas from VIC/P54 will be processed through Santos existing Patricia Baleen baleen: see whale. facilities near Orbost in Victoria. The Longtom Gas Sales Agreement with Santos is conditional on the successful completion of the Longtom-3 appraisal well and the operator of VIC/P54 is confident that this will be achieved. Upon a successful completion of Longtom-3, the first gas is anticipated to flow from the Longtom Gas Field by mid 2008. ACOR owns a 1/20ths of 1% ORRI under VIC/P54. About VIC/P45: $22 Billion Oil Company Apache Becomes Operator of ACOR's ORRI under VIC/P45 VIC/P45 consists of 214,896 gross acres. VIC/P45 is located offshore in the most prolific oil-producing basin in Australia, approximately 1 1/2 miles east of the Kingfish kingfish, common name for several fishes, among them the croaker and pompano. kingfish Any of various fishes, among them certain species of mackerel and a drum. Oil Field in the Southern Gippsland Basin in the Bass Strait. The Kingfish Oil Field, the largest oil field in Australia, has produced 1,100,000,000 barrels of oil since its discovery. There are currently 23 producing wells in the field. The permeability in the pay section ranges between 5,000 and 40,000 millidarcies, which is extremely high. On mapping there are 14 structures on VIC/P45, which includes one oil and gas field discovery with 16 pays and over 1,000 feet of pay section and a second with one gas pay section. This was a discovery well drilled off projected prospects. Apache has agreed to pay 100% of the cost to drill the 1st well; in return Apache will earn a 66.6667% working interest. Depending on the results from the 1st well, Apache may elect to drill a second well and pay 100% of the cost to drill the second well. Any discovery location, as defined in the Petroleum (submerged Land) Act shall, at Apache's discretion, be exercised from any such reconveyance The transfer of real property that takes place when a mortgage is fully paid off and the land is returned to the owner free from the former debt. reconveyance n. (should there be any). In addition, Apache has undertaken to assume its share of Royalty obligations to third parties. Upon approval of this transaction by regulatory authorities, Apache will become operator of VIC/P45, and begin to select the drilling location for the 1st well. The well is planned to be drilled after a suitable drilling rig can be contracted. IMI IMI International Masonry Institute (Washington, DC) IMI Israel Military Industries IMI Institute of the Motor Industry IMI International Market Insight IMI Imposto Municipal Sobre Imóveis (Portugal) , an independent third party geological appraisal company estimated that VIC/P45 could possibly contain approximately 350 million barrels of oil and 4 TCF See Trenton Computer Festival. of gas. ACOR owns a 1/20ths of 1% ORRI under VIC/P45. About VIC/P60: $4.6 Billion-Possible Est. Reserve Estimate for 1 of 6 Leads on ACOR's VIC/P60 Permit 60 is located just southeast of Permit 45 and covers approximately 339,769 acres, it is also ACOR's largest working interest asset offshore. ACOR management has identified six leads from the existing seismic data. The A-1 lead is approximately 4.97 miles long and 1.24 miles wide with a seismic bright spot anomalie rated good to excellent. The seismic bright spot is 108' thick and 820' horizontal by 20,500' perpendicular wide behind a fault on the flank of the anticline anticline: see fold. . ACOR has traced the beds to the nearest oil and gas fields after processing 5,000 +/- seismic lines. The A-1 Lead, if productive has the possible potential to contain approximately 77,771,244 barrels of oil or $US4,666,274,644, at current market prices. ACOR owns a 25% working interest. About The Gippsland Basin: In excess of 4 billion barrels of oil/condensate and 12 TCF gas reserves have been discovered in the Basin since exploration drilling began in 1964, with remaining reserves estimated at 600 million barrels of oil and 5 trillion cubic feet of gas. Current production of the basin is around 140,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. of crude and 570 million cubic feet per day of gas. About Australian-Canadian Oil Royalties Ltd: ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. . ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest overriding royalty interest A third-party interest in royalty income derived from oil and gas rights. and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait. ACOR is a publicly traded oil company trading on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. Exchange under the trading symbol Trading symbol See: Ticker symbol "AUCAF." Summary: Australia is a "hot spot" for oil & gas exploration and ACOR is positioned for possible "Company-Maker" discoveries. ACOR's working interest and overriding royalty interest are located offshore & onshore in the best producing basins. Visit our website at www.aussieoil.com. Disclaimer: Except for historical information contained herein, the statements released are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are made pursuant to the provision of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1955. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks. |
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