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Ginger Oil Update

Drilling of second Jackson Co., Texas Well, L Ranch “C-1” completed


The second prospect L Ranch “C-1”, the “Big Bend” has been drilled up to a dept of 7200 feet and has been logged. The prospect is dry and will be plugged.
Gingers net revenue interest is 29.25 %.

The first prospect L Ranch “D-1” ,the ”Top of the Hill” in Jackson Co., Texas that was successfully completed beginning of October and subject to a press release, have been tested in the lower of two zones. The well tested 224 bopd and 120 Mcfpd and is currently on production at 160 bopd on a 7/64 inch choke. We anticipate the rate will level out at around 200 bopd.
At least one, probably two development wells will be drilled on this prospect during 2009. One well to reach current producing zone and another to the higher (and larger) zone.
Gingers net revenue interest is 16.4%.

Read our press release for more information.

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Future listing and trading with Ginger Oil stock

Ginger Oil is surprised over recent developments relating to the performance of the stock exchange, Nordic Growth Markets (NGM). The company is particularly concerned with the risks and limitation of its shareholders opportunity to trade and receive a fair value of their shares.

Ginger Oil perceives the order from Swedish Financial Supervisory Authority (FI) as a very serious alarm. Our preference and trust for the NGM as an institution has been damaged. Ginger Oil will monitor developments carefully and evaluate options with the objective to satisfy the needs of both shareholders and our company.

Ginger Oil Board of Directors is prepared to act and is seeking a well established solution that satisfies needs both of the company and its shareholders. It is particularly important to accomplish a solution that provides a reliable valuation and liquidity in the trading shares of our company. This issue has a high priority to be resolved.

Read our press release for more information.

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Ginger Oil Update

Drilling of first Jackson Co., Texas Well, L Ranch “D-1” completed


L Ranch “D-1”, this “Top of the Hill” prospect has successfully been drilled and has logged more than forty feet of oil pay that has been confirmed by sidewall cores. Porosity and permeability shows excellent characteristics and we expect to hook up and begin producing the well within 6 weeks. Other wells from this area have started producing rates of 150-250 bopd. Gingers net revenue interest is 16.2 %.

The second prospect ,”Big Bend” in Jackson Co., Texas will be drilled with the same rig and is expected to reach TD within three weeks. Gingers net revenue interest is 29.25%.

The “Taser” prospect well in Arkansas has been drilled, logged and cored. Casing has been set and we are waiting for a test. It showed 30 feet of oil pay.
Ginger has 16.2 % net revenue interest.


Kings Ridge due to be connected to pipeline

The “Kings Ridge” gas well in Lafourche Parish, Louisiana is ready to be hooked up to the national pipeline. Completion of the connection is expected to be operational during October. This accounts for a delay compared to previous information from Ginger Oil. The well has been tested for 3,900 Mcf per day.
Ginger Oil has net revenue of 1.9 %.


Carter #1 will be connected to pipeline before year end

Carter #1 in “Texas Arch”, is a gas well in Texas that was reported ready for production at an earlier stage. The connection to national pipeline has been delayed due to prolonged processing of land rights. It is now believed that this process will be ready shortly and that the well will be connected before year end.
The well has been tested for 1,500 Mcf per day.
Ginger Oil has net revenue of 7.5%.

Read our press release for more information.

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Joint Venture to drill two wells in Jackson County, Texas

Ginger Oil has on May 9th, committed to drill two 8,000’ depth wells in a joint venture with two partnering Houston E&P companies. The agreement is in line with Ginger Oil´s 2008 drilling schedule.

Ginger Oil has contracted a drilling rig to begin operations in June 2008 drilling “Top of the Hill” and continue with “L Ranch C-1”immediately thereafter. “Top of the Hill” is contracted on a “turnkey contract”, and “L-Ranch Hill” is on a “day rate contract”.

Both prospects are based on reprocessed, 3-D seismic survey data that extends across a large area in the Jackson County, Texas.

“Top of the Hill” is a new prospect with potential resources estimated at 691 000 barrels of oil and 1,117 Bcf gas. It carries up to “casing point” costs estimated at $700,000. These costs are considered the risk costs for the venture. If commercially attractive zones are indicated in the well at this point, the well will be completed. Completion costs are estimated to be an additional $283,000.
Ginger Oil has a 37.5% working interest and will operate “Top of the Hill” for the group.

The “L Ranch C-1” prospect is a re-entry and a sidetrack of an earlier well that was drilled in 2007. The original well contains four oil and gas zones, but they were believed to be too thin to complete. The seismic data over the area has been reprocessed after the drilling of this well, and the new interpretation indicates there are potential resources in the proposed sidetrack of 393,000 barrels of oil equivalent.
Cost of this well to casing point is estimated at $367,000. Completion cost is estimated at $240,000. It will be contracted on a “day rate” basis.
Ginger currently holds a 56.25% working interest, but may sell down to a 37.5% interest.

Each well, if confirming the potential, is estimated to be produced at 150 Bopd.

Read our press release for more information.

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Increase in gas production

• Carter #1 in Texas Arch ready for gas production
• Stevens #1 in Texas Arch not enough flow to justify completion
• Broyles #1 in Texas has been recompleted with higher gas production

Carter #1, Texas Arch, Texas

Carter #1 in Texas Arch in central Texas has been completed as a gas well. It has tested 1.5 MMcf/d.

The operator will, as soon as rights have been obtained, hook up the well to existing infrastructure. Production is expected to commence within three months.

Ginger Oil has 7.5 % NRI in Carter #1.

If production from this well develops according to plan, a development well could be drilled on this large structure (1,600 acres closure). This will be decided upon in late 2008 or early 2009. There are several other large anticlines in the immediate area that will be tested if this well holds up.

Stevens #1 Texas Arch, Texas

Stevens #1 has been drilled and tested. Based on the low flow rates from the well, the operator does not plan to hook up well to a pipeline. There are ample follow-up opportunities in this area based on the apparent success of the Carter #1, described above.

Ginger Oil has 7.5 % NRI in Stevens #1.

Broyles #1 Colorado County, Texas

Broyles #1, a gas well in Colorado County, Texas, has been recompleted in a shallower zone. The well tested 1.940 MMcf/d and 21 bbls of condensate.

Ginger Oil has 1.9 % NRI in Broyles #1.

Read our press release for more information.

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North Sea study indicates recoverable gas equaling 17 million barrels of oil net to Ginger Oil. Larger than we first thought, says Hans Blixt, C.E.O. of Ginger Oil, Inc.

In connection to the 24th offshore round in the British North Sea, Ginger Oil was awarded three blocks in the North Sea in April 2007. A study of the resource base was performed by an independent consulting firm, PGL (Petroleum Geoscience LTD). The report shows that in the event of an exploratory success, the most likely recoverable resources would total 349 Bcf gas. Ginger Oil’s share of this is 104 Bcf gas which equates to 17 mmbo oil equivalents.

Larger than we first thought, says Hans Blixt, C.E.O. of Ginger Oil, Inc. This North Sea venture complements Ginger Oil’s activities in the USA and should further diversify the reserve base.

The next step is to drill the first exploration well. In order to speed up this development, Ginger Oil intends to increase the partner group with a company that has access to an offshore drilling rig that would allow the well to be drilled sooner than the current conditions allow. Ginger will market a portion of its 30% interest to the oil industry in the upcoming NAPE-exhibition in Houston this February.

Read our press release for more information.

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Ginger Oil AB hires a new C.E.O.

• Ginger Oil AB employs Magnus Stuart as Chief Executive Officer starting February 15. He will maintain a company office in Stockholm.
• Sven-Erik Ahlstedt retires from the CEO position at his own request but maintains his position on the Board of Directors.
• Ginger Oil AB is strengthening its Stockholm presence.

Ginger Oil AB has employed Magnus Stuart as Chief Executive Officer, beginning February 15, 2008. Magnus Stuart has experience in financing, with particular emphasis in growth companies. He was formerly C.E.O of Ven Capital, within Investment AB Öresund from 1998-2000. He was C.E.O. for Custos Venture Partners, within Custos from 2000-2002. Since 2003 he has been active in Chieftain Corporate Advisor AB.

Mr. Stuart has held positions as Chairman or Board Member in several growth companies within the IT, Media and Technology sectors. Magnus Stuart has an M.B.A. and MSc in Mining Engineering. He has been a shareholder in Ginger Oil AB since 2006.

“Ginger Oil AB is strengthening its capacity to act in the Scandinavian capital markets through the addition of Magnus Stuart. This action is in line with the Boards’ ambition to strengthen the Company’s ability to take advantage of its continuing growth. We are looking forward with great confidence to our growing potential with our activities in the USA and in our engagement in The North Sea. Ginger Oil is entering a very exciting 2008 and we are happy to engage Magnus to our Company,” said Allan Åkerstedt, Chairman, Ginger Oil AB.

Read our press release for more information.

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North Sea study indicates recoverable gas equaling 17 million barrels of oil net to Ginger Oil. Larger than we first thought, says Hans Blixt, C.E.O. of Ginger Oil, Inc.

In connection to the 24th offshore round in the British North Sea, Ginger Oil was awarded three blocks in the North Sea in April 2007. A study of the resource base was performed by an independent consulting firm, PGL (Petroleum Geoscience LTD). The report shows that in the event of an exploratory success, the most likely recoverable resources would total 349 Bcf gas. Ginger Oil’s share of this is 104 Bcf gas which equates to 17 mmbo oil equivalents.

Larger than we first thought, says Hans Blixt, C.E.O. of Ginger Oil, Inc. This North Sea venture complements Ginger Oil’s activities in the USA and should further diversify the reserve base.

The next step is to drill the first exploration well. In order to speed up this development, Ginger Oil intends to increase the partner group with a company that has access to an offshore drilling rig that would allow the well to be drilled sooner than the current conditions allow. Ginger will market a portion of its 30% interest to the oil industry in the upcoming NAPE-exhibition in Houston this February.

Read our press release for more information.

Download here



Announcement of production testing of second well in Texas Arch area

• Second Texas Arch Well Drilled and Casing Run
• Logs Are Positive For Potential Gas Pays

A second well in Texas Arch indicates two potential gas formations. Testing will be performed to evaluate commerciality. Results should be known within four to six weeks. The first well is a gas discovery and this well is also in the same new area which has potential for gas reserves. Ginger Oil has lease positions to explore additional structures within this area.

Ginger Oil’s previous press release described the successful testing of a new gas well, the Texas Arch #2. We have now completed the drilling of a second well, the Texas Arch #1 on a separate structural feature. This well was drilled to granite basement to a total depth of 8,550 feet. A suite of “open-hole logs” was run as a first step to evaluate the well. These logs indicate the presence of approximately 140 net feet of possible gas pay in Pennsylvanian age sand at a depth of 4225 feet to 4633 feet.

Also, the Ellenberger formation at a depth of 5,450 feet has similar log character to the logs in the gas zone in the initial discovery. This well has been plugged back to a depth of 6,000 feet, casing has been run and the drilling rig will be released shortly.

Further evaluation will be conducted with a “work over rig” that will be moved here in the near future. The zones in question will be “production tested” to determine their economic viability. This operation will be completed within the next four to six weeks. At that time Ginger Oil will release the test results.

The significance of these two wells is that they are in an area that has not been productive to date. Ginger and partners have a strong lease position on the two structural features that have been tested and on three additional structures that are on trend. Each of the structures has the potential for additional development wells, should the initial wells be proven successful producers.

Ginger Oil has a 10% working interest and a 7.5% revenue interest in these wells and in the surrounding 15,000 plus acres of leases. The actual locations and well names have not been released at this time for competitive reasons.

Read our press release for more information.

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New discovery in Texas

• Texas Arch # 2 well is completing
• Texas Arch #1 is being re-drilled
• Kansas well is drilling

Texas Arch #2 well tested a significant gas flow. The test result shows a rate of 1,014 MCFD and will increase Gingers cash flow by approximately $17,000 per month. The re-drilling of Texas Arch #1 has resumed. The first of two exploration wells in Kansas has begun.

On December 17, 2007, a gas-bearing zone was stimulated to produce at greater rates through the use of an “acid frac” treatment.
The most recent test rates taken are as follows:
1,014 MCFD (thousand cubic feet of gas per day) plus 24 BW (barrels of water) on a 26/64-inch diameter choke and with 360 psi flowing tubing pressure. The water that is flowing back is from the spent acid water that was injected into the formation. Ginger has a 10% working interest and a 7.5% revenue interest in this well and in 15,000 net acres over prospective areas that surrounds this well site. The actual well name and location are not revealed at this time for competitive reasons. This will add approximately $17,000 per month to our cash flow.

The size of the gas reserves will be estimated after production performance is studied. The well will be placed on production in approximately three months time. If the well performs as expected there are a number of additional locations available in this prospect closure on which to drill.
Ginger is part of a group that has assembled the mineral leases that over lay five separate prospects. There are dual target formations in these closures. Additional locations can be drilled on this prospect and there are four other areas identified to be drilled and on which we hold the mineral leases.

Ginger and partners are also re-drilling a second prospect, Texas Arch #1, in this same area. The initial effort on this well was halted on August 1, 2007 after mechanical conditions prevented further drilling. The re-drill commenced on November 4, 2007 and is progressing smoothly, drilling at 8,200’ and is expected to reach total depth within 10 days.
Ginger and partners are encouraged by the test results of Well #2 and are in a strong position to aggressively capitalize on our potential success.

Ginger is operator for the first of two exploratory wells in Kansas It has reached total depth of 5,400’ and is currently being logged. Results will be known after the well has been logged, and testing has been performed. The second well will commence immediately after the first well. Ginger has a 25% working interest in these wells and in the 5,000 acre leases surrounding these wells. An oil zone at 5,000 feet is the primary target.

Read our press release for more information.

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