Vangold: Papua New Guinea's Gold

SUBJECT: With AAO firming up..... Posted By: OKBT : 11/7/2005 16:06
....can TWR be far behind? Jointly the two companies own over 20,000 acres surrounding the Sarcee project and I understand they may house one or more opportunities similar to the Mississippian just drilled by C1 Energy (CTT).

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SUBJECT: RE: Not a Matter of If... Posted By: marketminer : 11/7/2005 17:32

I think that is what was refered to in the C1 nr in the last sentence... 2 or 3 more development wells... plus a second prospective target.. If this is the case TWR would have a 25% intrest in these additional targets.. I would bet that C1 is hot to deal on these with AAO as they have 75% intrest in those targets... TWR and AAO surround the sections the first well is on. " Area of mutual intrest"
C1 Energy completes drilling, testing of Sarcee well


2005-09-23 05:15 ET - News Release


"C1 and Arapahoe currently jointly hold four sections (2,560 acres) over this project area. Evaluation of 3-D seismic over these lands has identified the structural feature verified by the current 12-13 discovery as well as two to three development locations on this structure. A second prospective structure has been identified on the lands that will be further evaluated for its exploratory potential."


JMHO

AAO is one heck of a target for C1.. their latest Nr is very positive on the Sarcee play. (C1 Energy expects to exit 2005 with 1,100 boe/d...2005-11-01 19:17 ET - News Release) They go into detail at the end of this NR... before Shell allows hook up it is standard to test flow for an extended time frame 90 to 120 days to verify deliverability.


AAO could be be a target for Compton as well as they are the shallow gas experts in the area...If I was C1 I would be making a move on AAO before Compton smells blood in the water.

If Compton is interested in AAO I would expect that TWR would be a secondary target...ON the other hand if C1 takes a run at AAO maybe TWR would make a deal on the shallow gas portion as C1 isn't interested in developing the shallow. This is still very earily in the development of this play, but it could get interesting very quickly. JMHO

I'm holding both TWR and AAO.


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SUBJECT: RE: What's the next milestone? Posted By: OKBT
Post Time: 11/18/2005 12:36
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Speaking to their office, TWR is awaiting the results of the Sarcee 12-13. Insiders continue to accumulate and travel seeking further opportunities.
Speaking to CTT (the operator) indicates that they appear to have "mechanical problems" and "delays due to lack of skilled personnel"......NOT AT ALL concerned that the well may be a duster!

Their IR contact (also CFO!) Gary Loeb seemed confident that some flow rates and resource numbers would be available by month end.

EOM