If the find was not commercial, don't you think we'd have seen some significant shorting taking place after the price had quadrupled on the discovery announcement? I'm normally one who looks for the negatives in any investment to see if I'd still buy the share today at the new price and, with this, the truth is that I'm planning another little top up tomorrow when funds come through (so am happy to put my money where my mouth is, that is to say.)
I've just checked back and there is nothing to suggest TL has insider knowledge. The feeling has been in this board that the next update will be on the progress of NK31. TL may well be right that there is further work to do on commercial viability. We are excitedly awaiting the results of the 'discovery' at A5. TL's post in my opinion is designed to be ambiguous at best. Sjbrum posted in a similar way last week and couldn't contain himself when closing his short position. Having spoken with CC in the past I have to agree with pipear. He has never ramped the share and for him to remain excited about A5 is good enough for me.
TL said on the day before the last rns "oil shows mean nowt".There was nothing to suggest he has any insider knowledge at all.Just a random comment.The thing is CC clearly states that A5 is a discovery.He would not use these these terms if this wasnt significant.CC wouldnt give you his spare biscuit out of his lunch unless he had a fantastic reason to.
Timothy I agree with that statement although commerciality will come once drilling is completed and tests are run. We are still over 300m from TD with a discovery announced so far which will be quantified in due course.
We have a psychic on the board. I will definitely sell all my shares tomorrow after such blunt and amazing advice. Timothy, thank you for your fantastic psychic contribution to this debate. On a serious note. The rns will come when it comes and we have a very good chance of positive results. All the signs are pointing to a big find.
Leicester when have we had a not so good RNS. We still haven't cored the area we have drilled so far because we need additional drilling fluid. That is an operational delay do you not understand the RNS. Timothy also has not predicted a not so good RNS as far as I am aware.
According to petroleum scientists, the Caspian Sea region contains the third largest reserve of oil and natural gas in the world, behind the Gulf region and Siberia. Drilling for oil in the region is not new. Oil derricks dotted the landscape during the latter decades of the nineteenth century. Oil was a major source of hard currency for the former Soviet Union, but drilling methods were technologically inferior compared with western firms when it came to large-scale oil exploration. This inhibited Soviet exploration in the Caspian region. Western firms for decades had longed to be given the opportunity to exploit the former Soviet empire's massive oil reserves.
It was only in the 1980s that modern technology entertained the notion that the deeper fields (where the most of oil reserves are) were more accessible.
The area around Azerbaijan, on the southwestern shores of the Caspian Sea, is not the only portion of the region to have oil reserves. One of the world's largest oil fields, the Tengiz in western Kazakhstan, was discovered in 1979. The Soviets had been drilling in the Tengiz region, in the northeastern section of the Caspian Sea, for many years. The Tengiz discovery dramatically altered oil exploration potential for the region as a whole.
By most accounts the reserves in the region are very large. When the region was still part of the former Soviet Union, western oil companies were aware of the vast potential, but were not able to gain access to the deposits. The Soviets wanted to develop the area on its own, however, and focused more on the Siberian region instead. When the Soviet Union splintered into several nations, western companies began negotiations with the new entities. Contracts have since been signed, but there are still many obstacles, notwithstanding the negotiating hurdles. First, the region is basically desert terrain, with dramatic seasonal variations.
Second, there are extreme mountains in the northeast into Russia. According to the Oil and Gas Journal, there is deep sediment covering most of the predicted deposits. There is also a phenomenon called salt tectonics which could effect the quality of the product. These factors may prove burdensome to most companies, but they should not render exploration futile. Modern technology can overcome some geologic impediments. If the oil can be reached, petroleum engineers believe it to be of high quality. Because of the aforementioned deep sediment cover (up to 24 km) and the fact that the Tengiz field is the biggest of the super giants.
I'm not superstitious. Last time TimothyLeary said next Rns is not so good and next day it came true. Sice then ROXI has retraced back. I believe there will always be someone with inside knowledge. We all want to know positive things but don't want to hear anything else. Let's give him a chance.
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