Combination of Kazak red tape and Max procrastinating when the results aren't as good as previously hoped. A lot of the shallows have low flow rates. SW was supposed to be 20million recoverable with flow rates of 10,000bpd. Fantasy land talk now.
Another strike: The SAGW-10 appraisal well has reached a depth of 1,400 metres with electric logs indicating 16 metres of net oil pay over a 24 metre gross interval in the Triassic Formation at vertical depths between 1,225 and 1,249 metres. Reservoir quality is very good with porosities ranging from 15% to 27%. The Company is setting production casing in the well and will begin testing SAGW-10 as soon as practicable.
Hopefully this gets the ball rolling and gets us back near 4p again.......these guys are trying their damn hardest to increase the daily production figures by year end. Get more of the wells into production and then release upbeat report in March.
Should see some strong buying again from the current sp.
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