lewino..JP noted that UOS was putting to much pressure in the first two fracs.. for example if you got a hose with water coming out at high force and you try to connect it to something water goes everywhere not where you want..but by turning the tap down a bit the water doesn't gush everywhere and is easier to connect........on the third and successful frack it was acclaimed to JP who mentioned it to UOS and the increase in ceramic proppant...lets hope when it does happen they get the same result "text book perfect"..links
Were into grand old Duke of York games - not good for the long term investor but someones having fun. I keep telling myself not to look for a few weeks but still keep coming back to see if we've broken above 30p yet :)
JP states that" that's whats they have effectively done"..frack two formations, the clay layer between didn't cause any probs..that's why this vertical was so important ..text book! JP stated...note the rye smile on OF face on the proactive webcast when he announces "we own this licence 100% to san leon"...it was mentioned in the agm rns they were in talks on this and onshore morocco..both massive to sle and lewino to polish shale...links
your right if it was a duster that would have been it.. from the beginning sle/genel liked this location if genel were not going to redrill or drill another location they would have said yesterday but their words of further evaluation spoke volumes to me...they know what they did wrong,they also know all the info they need regarding what you have stated its a time factor now imo not if ..when!...links
My main point regarding offshore Morocco is the acreage should not necessarily be valued at 0, there may be some potential going forward even to sell it on though would expect nothing to happen soon.
My point regarding sentiment is that if on the 20th Oct if a duster had been announced on Sidi Moussa without even a sniff of hydrocarbon shows would the share price be where it is now?...I don't believe so. Here we have found a 50m interval of medium oil which flowed to surface, unfortunately we are uncertain as to why it didn't flow sustainably on well test, surely analysis of sidewall cores etc will reveal a lot regarding whether reservoir quality was the cause.
Genel clearly aren't bothered revealing info on the data obtained as it is immaterial to their share price and it seems being the junior partner SLE don't have permission to release it either. It would be great to know if do they have any data on reservoir porosity, permeability, oil saturation, whether the 50m interval encountered was less than or greater than prognosed, how much of the 300m barrel pre-drill estimate was attributable to the upper Jurassic etc.
To further illustrate my sentiment point SLE had a 14% interest in the Foum Draa well and when it was announced as a duster on 20 Dec 13 the share price didn't move half as much as it did here which to me shows what is now happening is PIs exasperated with OF selling out.
sle wont be drilling onshore tarfaya they will be FO..so no worries there..with production comes cash and rawicz has a lot of commercial gas as does seikierki..barryroe could inject sle initially 30/50mill...if Albania comes off sle were after 10m FO ...then lewino maybe OF is after more cash but giving up more % we will see....if there is another drill offshore it wont be until next year so we have time to wait and see..links
Hi Rayban, I'm currently out of this but watching with interest. The issue is cash. Even with Barryroe, I don't believe that there is enough money to drill wells offshore and onshore Morocco, and drill the horizontal at Lewino. And that's not counting the other exploration plays some have mentioned. Fanny is going to pick his spot and one would have to say fortune doesn't favour his choices historically. There are already a lot of shares so another CR will probably not raise much at the moment.
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