CURRENT CONVENTIONAL ASSETS
CURRENT CONVENTIONAL ASSETS
DOWNLOAD TEASER PRESENTATION
DOWNLOAD TEASER PRESENTATION
NEWS
NORDCON ENERGY AS CONDUCTED THE ANNUAL GENERAL ASSEMBLY
JUNE 22nd, 2023.
All suggestions from the Board were approved by the GA.
There was a change in the Board where Brita Holstad and Terje Gundersen wanted to leave.
Tore Øian was voted as Chairman of the Board and Bjug Borgund was voted in as new board member. Tore has been on the Nordcon Energy Board for one year before taking the position as new Chair, and Bjug has previously been a board member in Nordcon Energy.
Brita, with her experience form several boards brought a new level of professionalism to the Board as Chair.
I would like to thank Brita and Terje for the time spent on the Board and their support for Nordcon Energy AS and the shareholders.
At the same time I would like to welcome and congratulate Tore Øian as new Chair and Bjug Borgund as new Board member.
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Torjer Halle
CEO Nordcon Energy AS
Mobile: +47 905 76 996
This take us up to a total of 21 sections. - We are following our strategy to build gas reserves and drilling targets in the area owned by the Crown and covered by our seismic.
06-07-22 NORDCON WAS AWARDED A NEW SECTION, 2nd OF JUNE 2022.
All suggestions from the Board were approved by the GA.
There was a change in the Board where Bjug Borgund wanted to leave the Board and was replaced by Tore Øian. I would like to thank Bjug for a long and professional participation on the Board. Bjug has been a key player for Nordcon, both in strategy discussions and financing. At the same time I would like to welcome Tore Øian as member of the Board. Tore brings long term drilling and well experience into the the Board witch will be important in the time to come where Nordcon plans to drill more new wells.
We TD the well last weekend and then run WL logs, casing, and cemented the well. The operation went one day faster than planned and without any HSE incidents.
We have realized the rig and are now ready for the completion phase. We expect the work over rig to be at site December 1st to run tubing, swab, and get the well on production.
26-11-21, WELL 7-28
NOVEMBER 10th 2021, NEW WELL IN SECTION 28
OCTOBER 19TH 2021
NORDCON ENERGY AS CONDUCTED THE ANNUAL GENERAL ASSEMBLY JUNE 13th2022
The Canadian authorities (Alberta Energy Regulator) worked very fast with our drilling application. We delivered it on the 9th of November, after the notice period of 14 days for complaints, in the morning and got it approved the same day before lunch!
We therefore aim to spud our next well in the week starting the 15th of November.
Monday the 18th of October Nordcon Energy closed the convertible loan. From the decision made by the General Assembly Nordcon Energy could issue loans for up to 10 MNOK. We are glad to announce that we reached 9 MNOK and are now in the progress of starting the work program outlined in the loan agreement. The gas prices are high and we will revert back to you with more information when operations start.
On June 25th the pipeline for our gas delivery opened again after a repair at the gas plant. We have started well after well and now 3 of our 4 wells are producing again. There are several gas companies delivering to this pipeline and the fact that gas wells often have high production for some days after shut in, the backpressure on the pipeline is too high for well 1-33 to produce and at the same time lift out water after the frac. We expect this to normalize shortly. The gas prices are very good for the time being at around CAD 3,30/GJ witch for us is nearly CAD 4/mcf.
JUNE 29th 2021
During Nordcon Energy GA, shareholders unanimously adopted Brita Holstad as the new Chair.
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It is a pleasure to welcome Brita Holstad into the team and I am sure she will bring value and new ideas to Nordcon Energy.
I would also like to thank Bjug Borgund on behalf of the Management, Board, and shareholders for his dedicated and solid work for Nordcon Energy for many years.
Bjug will continue his work as Board Member and bring with him all his knowledge and history of the Company. With Bjug continuing together with Jens Klev, Alan Sibbit, and Terje Gundersen, Nodcon Energy has a fully competent and solid Board to guide the Company.
11-06-21 NORDCON ENERGY GENERAL ASSEMBLE AND NEW CHAIR, BRITA HOLSTAD
Operation on well 1-33 has gone as planned and we released the swab rig Friday the 4th of June. The well was then connected to the separator and the process of getting the water out after frac for gas production was started. Unfortunately, in the middle of this clean up our Mid Streamer closed the gas pipeline for maintenance, without giving us notice upfront. We have now been informed that this will take at least a week. 1-33 is therefore closed in. We are in discussion with our local client to see if we can deliver unprocessed gas to them from our other gas-producing wells during this period.
JUNE 10-2021 WELL 1-33
Podcast with CEO of Nordcon Energy, Torjer Halle
Torjer Halle was interviewed for a podcast earlier this year by Jason Gimeno, GLD Services Inc and Steve Laidlaw, CG Engineering. It was released June 1st in Canada and are number 5 of several podcast on the topic of Energy for the future.
JUNE 8-2021, PODCAST
The road ban was lifted the 26th of May and Nordcon Energy had the service rig at location the 27th of May. Since then we have pulled the Co-rod and then the tubing. A packer has been set and yesterday we performed a 30 ton frac into the Sparky formation. Swabbing and pipe fitting need to be done before the well can be set on production. We expect to have some results on Monday the 7th of June
01. JUNE - 21
Nordcon is in the process of aquiring more land to the North of the Companys main structure. The data indicates the structure expands into this area and connected to the same field. One deal is completed and the Companys is working on finalizing the second deal.
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The area is important since this area is close to pipeline and infrastructure and can be drained from existing pads. The last frac of well 9-28 also proved up lower Sparky formation which may add significant natural gas resources in this area. This formation has not been produced before on Nordcons land.
09.04.2021
We got well 9-28 on production 29th of March. After getting the water out from frac, the well is now producing around 300 mcf/day. This is a bit less than what we were aiming for but on average we are still above our estimates for our fracs. The planning for the next frac of 1-33 is ongoing and we hope to have funds for this in April.
WELL 9-28 ON PRODUCTION 29TH OF MARCH
We have started the operation on well 9-28. All has gone according to plan and budget. We have pulled tubing, set two packers, perforated and run production tubing. Well is closed in waiting for a frack. The market for fracking is more difficult now, but we have got a slot from Schlumberger the 11th of March. We are following the tubing pressure daily and I am glad to inform you that the pressure increases.
WELL 9-28
Since we needed the separator, well head and tubing from this well to well 9-28, we applied for Corona P&A support from the government. (The government want to get P&A done to reduce liability and keep the Oil&Gas sector active) We were successful in the application so we have managed to P&A this well with limited cost for Nordcon Energy at the same time as we reuse the equipment on well 9-28.
PLUG AND ABANDON OF WELL 8-6-47-24
DEAR NORDCON ENERGY SHARE HOLDERS
I am glad to inform you that the natural gas well 11-28 is keeping on well with field estimated production around 600 mcf/day and no water production. This is double of the predicted gas production from this Sparky well (some further decline is likely).
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2020 has been a special year for all of us with the Corona virus, and Nordcon Energy has changed name and strategy from Oil to Natural Gas and Hydrogen production.
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When we enter the new year of 2021, Nordcon Energy is producing natural gas and are focusing on Hydrogen with our partner Hydrogen Source. Our goal for 2021 is to increase our natural gas production and move forward with our Hydrogen strategy.
With this I would like to wish you all a Merry Christmas and a Happy New Year. Stay safe and take a well deserved break with your families.
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Torjer Halle
CEO Nordcon Energy AS
OPERATIONAL UPDATE OF PERFORATION AND FRACKING FOR NATURAL GAS IN WELL 11-28
The operation was finalized Thursday the 26th of November and production started. The operation was well planned and performed without HSE incidents and below budget. (Link to drone video below)
The start of production is more than double of forecasted production at 700 mcf/day (forecasted 300 mcf/d) The well will stabilize at a lower rate, but still very positive. This is also strengthening our believe in the Sparky formation as natural gas producer and it seems to cover most of our 53 km3 of land.
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Thanks to our shareholders for funding this operation.
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JULY 15, 2020 - HYDROGEN SOURCE AS AND NORDCON OIL AND GAS AS SIGN FRAME AGREEMENT FOR CANADIAN CLEAN HYDROGEN PRODUCTION
Hydrogen Source AS (HSAS) and Nordcon Oil and Gas AS have entered into a Frame Agreement as technology partners for testing of hydrogen technology at Nordcon operated fields in Alberta Canada. Hydrogen Source AS will bring the technology and Nordcon Oil and Gas AS, the land area and operational knowhow.
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Hydrogen Source AS and Nordcon will set up a Canadian company where Hydrogen Source AS has 90% ownership and Nordcon Oil and Gas AS 10% carried ownership. Nordcon has an option to increase the ownership up to 30%
The project will be production of pollution free lowest cost hydrogen at one of the natural gas fields operated by Nordcon in Alberta Canada, through a new joint company to serve the entire Canadian Market.
“We are pleased to partner with Nordcon, who have complementary capacities, experience, and local knowledge to develop the hydrogen production in Canada. We have jointly reviewed Nordcon gas fields in Alberta and are glad to have identified reservoirs suitable for a full-scale test of the technology, developed by HSAS. In this project a proprietary HSAS hydrogen in situ generation technology will be applied in a field in order to produce a dramatically lower cost hydrogen, without “black carbon” production and CO2 emissions to the atmosphere,” - says Kjetil Martin Stuland, CEO of Hydrogen Source AS.
Nordcon is excited to collaborate with Hydrogen Source AS in a novel technological project which might enable first commercial green hydrogen production from the natural gas fields in Canada,” - says Torjer Halle CEO of Nordcon Oil and Gas AS.
Hydrogen Source AS is a Norwegian technology company that has developed and patented Hydrogen Generation from Hydrocarbons Sub-terrain (HGHS) process. HGHS allows to generate hydrogen in situ of the reservoir directly from natural gas and produce it in commercial volumes at a cost dozen times lower than current main hydrogen production technology Steam Methane Reforming (SMR), and much lower than electrolysis. 90% of hydrogen in the world today is produced by the SMR process with 700 million tons of CO2 emissions in the atmosphere. The success of the HSAS production method has the potential to eliminate virtually all such “greenhouse” gas emissions. The HGHS technology is a result of more than 10 years of R&D activities, which were started at NORCE Research Centre in Norway.
Nordcon Oil and Gas AS is a young company started in 2015. It was started based on relationship to a very experienced Canadian team that has worked in several Oil and Gas companies in the region for decades. Norwegian investors and Norwegian Management founded the company. Based on favourably acquisitions and new Crown land secured in the area where Nordcon has 3-D seismic, Nordcon as Operator, producing Oil and Gas.
The core business is production of Oil and Gas, but Nordcon are looking for new opportunities to reduce emission and take part in the future energy production.
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Torjer Halle
CEO Nordcon Oil and Gas AS
Mobile: +47 905 76 996