AZA - Argenta Oil And Gas Inc - Page 2

well, not entirely surprised that its not on schedule...
these things never run on time

good to hear an update from the company though
im expecting about 3 weeks till we hear a next NR?

could get an indication of how well/bad drilling goes based on the stock trades closer to scheduled spudd date...

cheers

exactly....i knew it was late I just didnt know it was THAT late.

Hopefully the "approximetely 16 days" doesnt run to much later then the begining of June.

just to update on the previous posts about the NR, I was told "the delay was related to finishing off site preparation – i.e. road work " and that "A follow-up press release will be issued when the drilling has been completed."

Just FYI for all =)

Picked away some at 4.5 and moved a bid to .04

im buying on the way down as well...look for all the TD trades

Im really hoping its oil they find and not gas.. then they'll be obliged to build pipelines and more infrastructure for transportation, and then merge with other pipelines etc etc. I remember reading one of the wells had the potential of something like 30MCF gas which is barely enough to make a sustainable cash flow, let alone profit...

Oil would be great... The anticipation of this news will be a dragging one, but if these guys can pull off some decent production, they're going to be good to go in a region like Argentina...

Better than producing in on-shore Nigeria .

anon had the berg sell at .045 ... down now, but not before I added another 100K

Got a partial fill.... again..... got almost 40k

nice close today; volume spike in the last couple hours of traduing

up to 0.065 on 1.5m shares

news possibly coming out on Mon/next week maybe?
or just a reaction to the stronger oil price?

nice close ... was some solid buying first thing this morning at .05, so perhaps something is up.

anyone talk to management or hear anything about it recently?

I've sent management a couple of emails over the last couple of weeks. Didn't hear a reply on one of them. Poor IR on their behalf

heard its all good thus far...waiting on test results

Who did you hear this from spyder? Was it a representitive of the company? Analyst? IR? What was his name; I'd like to contact him.

It helps if you include a source, otherwise it comes off as pure speculation

got an e-mail back from the comapny last night:

"Delays so far have been the normal delays of operations, nothing unusual. We have finished drilling the first well. We are casing and cementing now. As we are using just one rig for drilling and completion (usually two different rigs are used, but we wanted to save some money on mobilization/demobilization), there are adjustments to do in the rig to move from drilling mode to completion mode. We expect to start testing by Tuesday. We’ve drilled the well in schedule (the delay was the rig up). Therefore, these minor delays had nothing to do with past delays."

Thanks for the update spyder83

If they are going to start testing on Tuesday, then that explains the aggressive buying we saw early Friday morning when the .05 and .055 cent paper got taken out in big buy orders.

We should have a solid week coming up.

any news coming out soon? people seem to be selling

news coming some point b/w now and next week on the test results of the first well...not really much selling, its been stable at 0.06 since monday and the vol was only 31k today

Looked like we were going to break out today as all the .07 cent paper got taken out, but anon crushed the .07 cent ask and put the fear into a few more sellers.

I would like to see us get up to the .08 cent level before the next news as that should give us the push the .10 cent level.

Argenta Announces Loma El Divisadero Drilling Results on First Appraisal Well

June 08, 2009
Download this Press Release

TORONTO, ONTARIO--(Marketwire - June 8, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Argenta Oil & Gas Inc. ("Argenta") (TSX VENTURE:AZA) announces that the first appraisal well drilled on the Company's Loma El Divisadero property tested water from Chorreado Member (Huitrin Formation).

Victor Linari, Vice President of Geology and Geophysics commented: "The LEDO e-4 well was drilled approximately 50 feet lower than expected. As a result, the whole Chorreado Member appeared in this first well below the estimated oil/water contact. From a positive perspective, this well has confirmed the oil/water contact for the Chorreado play and most importantly this well also had significantly greater permeability than encountered in the previous wells that were drilled as the well flowed more than 400 barrels of water per day which indicates that had oil been found in this well, the flow would have been much better than the Company's pre-drilling forecast."

Claudio Larotonda, President and CEO stated: "Argenta and its partner Unitec Energy SA have decided to delay the drilling of the second well to incorporate the interpretation of the oil/water contact and a steeper structure with much better permeability to determine the best drilling location for the second well. The Corporation will make a further announcement as to timing of the second well when the analysis and interpretation has been completed."