Believe me Lav mat, I am not crying - am actually thankful I didn't get squeezed as much as some. If you continue to believe this is the best place for your money - fair enough, I just would like to propagate the opinion , no matter how ridiculous it may seem to you is where can SLE return shareholder value, it can't be thru rawicz because the share of volume gas : outgoings is woefully inadequate. Add in time to make it saleable and distribution, not even credible escape plan.
Funny how these two are making a return to the board as sp dips...temporarily until Rawicz confirmation news. Make the most of it guys, bragging and winding... Bit like CT on advfn and Perpetual "Pessimist" on iii really. No way these people are genuine : either paid or unbelievably miserable. Where s that filter button again?
Oh so promising rather than fairly this is a great result at the top end of our expectations..the well is capable of excellent flow rates and proven up that the formation that has good ability to flow and permabilitity..and despite the fact a bit of damage from the skin from the drilling process which we expect to be removed as it continues to be removed as it has been so far from the well test with the well increasing and pressure increasing over time..then there is clearly more upside to this well on that rate already..
several things and we are going to do them in parallel..we have already completed a feasible study regarding tying in facilities and so on for a development..we are talking to pipeline owners which there bare more than one locally about tying in and pricing and so on, that's well advanced..
the results of the well have very clearly told us we should now go ahead and finish planning the next well..that could well be a horizontal or high angled well which should in the same rock have a significant higher flow rate due to a lot more contact with the resevior..so more drilling and prosecuting the development phase are what we looking to go after..
it does I believe around 70% of polands gas is imported and any country would like to produce it themselves for an energy security point of view and from an income view..so this is a big deal this I believe is the biggest field since the middle 90"s that is now going toward development..it is a big deal for Poland and locally we have other targets as well..we have leads and prospects and particually to the west of rawicz we have a similar size prospect which we will look to do 3D seismic over and mature that up for future drilling as well..so the stuff that comes off locally for this success as well..
well certainly oil prices arnt but the real positives regarding rawicz and Poland is the gas prices are very buoyant in Poland, some of the best in Europe and of course gas hasn't sufford in the way oil has so we are talking about a high value product here with a very ready market,local infrastructure and your absolutely right the deal is san leon do not pay upfront for the fist couple of wells and associated activities and in a success case that is clearly demonstrated here when production occurs then part of the production is used to pay back our 35% share of those costs..its a good structure for us and we are extremely happy with the outcome..
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