Well 2 Days down 2 to go and off we go. This is better than Christmas, and I know what my gift is going to be lol. Its going to be a wild week so lets hope the profit takers are all done and we see some serious buys come through and watch this baby fly.
I want the weekend to finish and trading to start. I imagine that Trinidad is having Easter off as well as they are pretty religious there. Things should get frantic at Goudron from Monday. Looking at Well Services no 20 rig, there is a lot of equipment to move in. It looks like a big drilling rig. Probably be drilling by Wednesday and 10-12 days to drill 4,000 feet. Then on to well no.2.
Seems we have the right posters posting now and the fools have gone back to there holes. we also have momentum with the chat and the future all this is great change from all the other stuff we were talking about a while back, roll on next week and the next and next etc etc. I am so glad I am going to be part of this companies future and talked to some real nice people on this board.
Well am sitting here in the sun with a bottle of Budweiser in the tops of the Lake District reading all these exciting posts. Next week for sure will be a flood of News, even Mr NR will be excited on delivering good news on the 24th and then once the oil flows then we all won't be able to keep up with the flood of RNS. Good times ahead!! Have a good weekend all !!
They mentioned wells services were contracted to drill the first 7 wells. This allows time to get alternative quotes from other drillers once they know the ground conditions with the new drilling techniques.
The well services rig 20 is mobilising now and it will stay there for 7 wells at least. LGO pays by the day for drill rigs, just like every one else.
So they will drill drill drill. At 2 weeks a well, that's 2 wells a month. So there will be a huge amount of news. starting from the final approvals news release yesterday.
These are not high risk wells. They are in-fill wells in an existing field with 7.2 million barrels of P2 reserves and another 30 million barrels of P3 reserves.
They also look like they are shooting for some of the deeper untouched oil zones, as most of Goudron appears to be shallow wells. Some of these should flow/produce really well.
There has been a lot said in presentations by NR about the old techniques of over weighting the drilling muds nback from the 1920's to the last well in 1985. New techniques don't drill heavy mud which ruins the wells and significantly decreases production.
I am looking forward to LGO finally hitting its straps and getting retail and small institutional investors in this stock, because it will be one of the most active drillers this year on AIM.
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