Questerre's partner spuds first of St. Lawrence wells

Questerre's partner spuds first of St. Lawrence wells
2008-09-12 05:55 ET - News Release
Mr. Michael Binnion reports

QUESTERRE ENERGY CORPORATION: SEPTEMBER 12, 2008-TALISMAN SPUDS LA VISITATION WELL

Questerre Energy Corp.'s partner, Talisman Energy Inc., the operator, has recently spudded the first of three commitment wells under its farm-in agreement with Questerre Energy in the St. Lawrence lowlands, Quebec.

The wells will test multiple horizons including the Trenton Black River, Utica and Lorraine shale sequences. Upon earning, Questerre and its subsidiaries will hold a 25-per-cent interest on this land, along with a 4.25-per-cent gross overriding royalty on production from Talisman.
We seek Safe Harbor.

Treasure Picks Definition:

Spudding in"Spudding in," or to "spud" a well, means to begin drilling operations. The drill string, consisting of a drill bit, drill collars, drill pipe, and kelly, is assembled and lowered into the conductor pipe. Drilling fluid, better known as drilling mud, is circulated through the kelly and the drill string by means of pipes and flexible hose connecting the drilling fluid or mud pumps and a swivel device attached to the upper end of the kelly. The swivel device enables drilling mud to be circulated while the kelly and drill string are rotated. The mud pump draws fluid from mud tanks or pits located nearby. The drilling mud passes through the kelly, drill pipe, drill collars, and drill bit. It is returned to the surface by means of the well bore and the conductor pipe where it is directed to a device called a shale shaker. The shale shaker separates the drill cuttings and solids from the drilling mud, which is returned to the mud tanks to be circulated again (fig. 23). As the drill string is rotated in the well bore, the drill bit cuts into the rock. The drilling mud lubricates and cools the drill bit and drill string and carries the drill cuttings to the surface (fig. 23).
Figure 23--Diagram illustrating the drilling-fluid (drilling-mud) system and the flow of fluids through the system.

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Ivanhoe Energy Insiders Accumulating

Bush + Big Oil = Sex Drugs, Oil And Gas

Sex, drugs, oil and gas

PAUL WALDIE

Thursday, September 11, 2008

A group of U.S. bureaucrats who collected billions of dollars in royalties from energy companies operated in a culture so bereft of ethics they regularly consumed cocaine and marijuana at industry gatherings, had sexual relations with oil company representatives and routinely received gifts from energy firms, including divisions of Chevron Corp., Royal Dutch Shell PLC and BP, according to an internal investigation.

"We discovered that between 2002 and 2006, nearly one-third of the entire [division] staff socialized with, and received a wide array of gifts and gratuities from, oil and gas companies with whom [the division] was conducting official business," the report found.

Some of the employees held side jobs as industry consultants while others provided confidential information about upcoming government contracts to company representatives, the investigators said.

The director, Gregory Smith, allegedly "engaged in illegal drug use and had sexual relations with subordinates, and in consort with industry," the report said. Mr. Smith, who retired in 2007, allegedly had employees buy him cocaine during work hours, referring to the drugs as "office supplies." He allegedly acknowledged his drug use to investigators, calling it "episodic," and admitted inappropriate relations with some staff, the report said.

The employees worked in a division of the Denver-based Minerals Management Service, or MMS. MMS, part of the Department of Interior, collects royalties and lease payments from energy companies operating on federal land.

The division in question has about 50 employees and runs a special program that collects royalties on an in-kind basis and then sells the oil and gas on behalf of the government. The section sold about $11-billion (U.S.) worth of oil and gas last year.

The division was created in the late 1990s but came under investigation by the Office of the Inspector-General a couple of years ago when it received an anonymous tip about misconduct. That prompted a $5.3-million probe that has already led to some criminal charges, one guilty plea and several resignations.
In releasing two final reports yesterday, Inspector-General Earl Devaney expressed exasperation at the findings.
Mr. Devaney said in a letter accompanying the reports that many of those involved had escaped potential administrative action by resigning "with the usual celebratory send-offs that allegedly highlighted the impeccable service these individuals had given to the federal government. Our reports belie this notion."
He said none of the employees involved in the conduct expressed remorse for their actions. For example, the report referred to two employees who got so drunk at a day-long company-sponsored event the company had to pay for hotel rooms so they could stay overnight.
When investigators asked the employees about their actions, they insisted they "were developing business relationships and had gathered invaluable industry-related information."
The report also contained several e-mails between division staff and energy company officials discussing upcoming parties, trips and events. One e-mail told staff, "this trip is to be kept quiet," and in others, industry representatives called two staffers the "MMS Chicks."
In his letter, Mr. Devaney singled out Chevron for refusing to co-operate with the investigation. However, Chevron spokesman Donald Campbell said the company did co-operate, providing all requested documents.
Randall Luthi, head of MMS, said the agency would "take action" when it receives the report.
"It's something we take very seriously," Mr. Luthi said.
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