The latest RNS on 28th September at least confirms well testing has commenced and is ongoing. Expecting a result from each hydrocarbon zone is not practical in a complex reservoir system. The discovery was made and announced during the Exploration well. This present exercise is Well Testing- the purpose of which is to establish the flow/pressure/viscosity characteristics of each potentially producing zone. With that information, it will then be possible to give some calculation of the likely oil in place and the likely speed/volume of recovery. Only a full and detailed analysis of the results could be used to upgrade the reserves of the field and assign a financial value to those reserves. Any partial release of results would be meaningless in that context. Since that is the main purpose for undertaking an expensive well testing campaign. Is it realistic to expect partial release which would only provide volatility based on incomplete information? Partial release would involve selecting which information is relevant and likely to give a true picture of progress to date. An extremely difficult task in complex reservoir structures, and one which could open the company to claims of misleading shareholders through the selection of which information is released.
The company could claim that it is acting in Good Faith, and in the best interests of shareholders in waiting until full results are known before releasing any information.
Could someone please let me know the tax implications on selling these shares? Is it 18% CGT? Are there other tax implications? I'm a uk resident for tax purpouses. Gutted that I take the risk with my hard earned cash and have to part with such a large chunk IF it pays off :S
Sorry, I'm young and new to share dealing. Just started my pension plan!
Noble Energy are presenting details of their big prospective plays for the future in a tele-conference on October 11th. Included is the large acreage it owns in North East Nevada. Could be that USOP is not alone in thinking that Nevada is a big oil story. This is a US Oil Major not known for high risk gambles and one with a high success rate. Interesting.
Cement squeeze at Eblana 1....standard when testing multiple producing zones separately. More perforations is a bit more ambivalent: downside is thick oil, upside is more pay zones revealed during testing. Not a simple play, but more time spent on testing should mean a greater upside
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.