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He’s a vile individual, busting at the seams with crap.
Shares in oil minnow Red Emperor Resources have been on a bit of a rollercoaster over the last seven days as a cocktail of news from the Winx-1 exploration well in Alaska has sent them both plunging and soaring.
The first swing came last Friday after the firm reported that evidence of oil, referred to as 'shows', encountered during drilling at the primary Nanushuk target was 'at the lower end' of the range needed to be commercially viable, which sent the stock tumbling nearly 65 per cent, or 2.6p, to 1.4p.
However, there wasn't actually any definitive data or conclusion given as to whether the 'discovery' was or wasn't viable.
Oil in Alaska: Oil minnow Red Emperor Resources may, or may not, have found some oil there +1
Oil in Alaska: Oil minnow Red Emperor Resources may, or may not, have found some oil there
Then, on Monday, Red Emperor reported that additional 'shows' were observed in the well, including another in the primary zone and also in deeper zones, which sent the shares back up 152 per cent, or 2.2p, to 3.6p
The objective facts remain the same, however, in that no definitive data or conclusion was given as to whether the 'discovery' was or wasn't commercial. Instead, the explorer commented that the latest findings were 'encouraging'.
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Another statement followed later in the week, relaying information that became available following the completion of drilling on Monday.
But as with Friday and Monday, no definitive information was given but that didn't stop the shares jumping again to finish the week around 303 per cent, or 4.3p, higher at 5.8p.
The next investor update out of Alaska will likely be pivotal, should it give some proof in one direction or the other. Expect further volatility, whichever way the definitive well results land.
Red Emperor's partner, 88 Energy, followed the same down-up trajectory, eventually ending 32 per cent, or 0.3p higher, at 1.2p while another partner firm, Pantheon Resources, was up 25 per cent, or 5.2p, at 26.1p.
You can’t trust anyone on the boards
For sure. Check his past tweets for his accuracy. The guys a legend.
Claims some insider info saying it is a duster. Is he someone to trust?
Jay Cheatham, CEO of Pantheon, said
"I am also very encouraged by the developments at Winx-1 where we have also encountered multiple potential pay zones in the primary target as well as in one of the secondary targets. We will need to await logging operations before we can make a more meaningful assessment as to the potential of the well, and we look forward to these operations with cautious optimism."
Pantheon 2019 presentation
http://www.pantheonresources.com/investors/presentations/597-agm-presentation-2019/file
Jon tangle and degsy Almomds.
For goodness sake both of you grow up.
Stop reporting about each other.
Stay With RMP, hopefully this will come really good soon.
In the mean time Mr Jon Tangle we don't need to be in a Nanny state.
Whoever says RMP will be 300p has the right to say it, and whoever thinks it will be 2p has also had right to predict.
But not to make predictions as Facts.
Or post fake news, that would be market abuse.
However predicting or opinions are not market abuse, it's freedom of expression!!!!!
Jarv55,think that is well1a sidetrack, went that low.
What the situation is with great bear petroleum if they decide to buy another 10% how much will that cost them? Says they have a right to the option on the original rns when the licence was first agreed
Good point.. Me bad
Does it say fookin warrants, ... NO
In addition, the Company has today issued, in aggregate, 6,000,000 unlisted options to the aforementioned brokers and corporate adviser, exercisable at a price of A$0.05 (2.8 pence) per new ordinary share, for a period of 36 months from their date of issue. Taken from the Rns
Jrlo get your facts right.. 6 million warrants
#rmp most likely blow by blow RNS, rather than one bomb of an RNS.
That is based on previous RNS.
Sunday night ?? Asx.
fascinating how they work out there https://www.youtube.com/watch?v=6MlWdXqHUbI
Or it could be Peter Landau, who knows?
so they found weak to moderate oil shows from 4460 to 4530 tests ongoing
elevated mud gas associated with oil shows between 4667 to 4901 ft
and elevated mud gas readings in Torok from 6052 ft
Horse shoe found more net pay at 8000 ft I think happy to be corrected on that.
Someone asked who was selling shares and where were they coming from on Friday, it could be the 6000000 unlisted options paid to the brokers of the recent fund raise , they are excercisable at 2.8p.
Highlights
• Primary Nanushuk targets (topsets) intersected between 4,667ft and 4,901ft
o Elevated mud gas (C1-C5) associated with oil shows and increase in LWD ("Logging While Drilling") resistivity recorded within this interval
o Initial interpretation encouraging based on comparison to data from nearby successful third party Nanushuk well
· Previously reported Upper Nanushuk Formation interval (4,460ft to 4,530ft) remains the subject of further ongoing analysis
· The Torok Topset Sequence 4 (secondary target) was intersected at 6,052ft with elevated mud gas readings (C1-C5), oil shows and an increase in LWD resistivity being recorded
Here's a brief summary of what they'v drilled so far at Winx-1 with WL logging underway as per the last rns update.
Spud Winx-1 15th feb
1) Seebee target at 4252 feet
2) zone of interest: 4460 to 4530' : apprx thickness 70 ft
3) Nanushuk topset: 4667 to 4901': apprx thickness 234 ft (shows encountered on the Gas Chromatograph)
4) Top of Torok formation: 4913'
5) Sandstone sequence at : 6052' (shows encountered on the GC)
6) TD: 6800 ft on 3rd March. Logging underway
WL logs should confirm the exact net & gross thickness & fluid saturation within the zones of interest.
To get an idea of the WL Logs for the Nan-Tor sequence drilled in a discovery well, refer slide-20 showing the log from Repsol's Q#3 discovery well.
This shows the Nanushuk on top of the Torok formation. Green line denotes the Gamma ray Log that is commonly used in the Industry to identify Sands vs Shales. The Nan Sands in this case r clear & highlighted in yellow. The sands in the Torok are Shale rich, so the sequence is thick with thin sandy zones that r waterwet. Red vertical line is from the Resistivity Log which helps to identify Oil & Water bearing zones. Log shows the oil payzone in 'green' which was subsequently tested by Repsol.
http://dog.dnr.alaska.gov/Documents/ResourceEvaluation/20180521_DiscovThinking_Decker.pdf
all thanks to poster Ya
in an earlier post there was no mention of them logging the Torok sands but in the RNS dated 4th March it is there in black and white.
On reaching final Total Depth a comprehensive wireline logging program will be implemented in order to further evaluate all the Nanushuk / Torok zones of interest and determine whether to proceed with production testing.
Did anyone else see that post.
Worth watching from 9mins 46s onwards talks about Oil Search's big investment plans in developing the Pikka and Horseshoe Nanushuk plays in our vicinity and also hints they are always interested in new acquisitions in the region.
As we are only 4 miles away from Horseshoe they may also be another potential purchaser.
https://vimeo.com/301430579
The man on a mission in Alaska oil discovery
https://youtu.be/5nwYeP3rA-Y
Thank JofHoggit.
So if this is a Best estimate then at least we know that any High case isn't included in it via an average. Better news then I hope.
Doesn't talk about Torok once in the presentation, here's hoping this could be a big unexpected bonus