Do company leaders who are not risk takers acquire non producing companies time after time to add to our already non income earning portfolio? He loves taking the risk with our capital and diluting our equity at every opportunity while absorbing record breaking salary spikes and interest free loans...
Both Sigma (3) and UOS estimated that if the vertical frac'd well would have been allowed to clean up we would have had a flow of between 200-400,000 scf/d. This flow was purely from the upper Ordovician zone, which was not the primary target. They reckon the lower Ordovician has higher porosity and permeability. A horizontal could flow at between 7-30 times the level of the vertical which gives us a base flow of over 5 mmcf/d. and probably a lot more than that.
. . . . They were probably a bit disappointed that 3Legs's well didn't flow gas at a higher rate, but were quick to point out that Lewino had a much better gas to oil ratio implying that we won't have the same problems they had. So it seems that even though our acreage is quite close the geology doesn't carry through. The data from our own vertical gives the horizontal a very high chance of success and I do not think that Bnk's or 3Legs's results have changed that. . . So on that OF will definitely do the horizontal. As to whether he gets a partner first or after I don't know. He's not a risk taker so he may hedge his bets and JV it out before drilling. Think if Genel do strike oil in Sidi Moussa, OF would be more likely to go it alone on Lewino's horizontal knowing that our 10% stake of a possible 300M brls could be quite easily sold on for a considerable sum. So he might stall any plans for a few weeks to see if this comes about. I know I would if I were him.
You've posted some stuff in your time, like busses just around the corner, millions of acres of land at $25 acre but i'm not ****ging you off because I dont know you, nor do I know who you really are....But surely you can see how everyone must view this, wev'e seen it so many times before and its sickening to think you've been conned. Me personally I feel at my lowest ever with this company.....I just want to ask you as a person do you still think SLE will do a horizontal at Lewino....If you think yes, then why are they not yet drilling or at least announce when they will.....Finally if they do...On a count of 1 to 100 how would you measure it's success...frus.
genius....when have I used words like that..its a fact bnk have gone from $2.30 to under $1 a share....ceo is on much less than OF and they have earning..most of aim is risk....hype took sle to 40p I was there..Im still here ..why...ask soros who bought in at 24p..ask Tosca ..these guys are here for success..Im here for the asset potential that will come to fruition same as those guys..as for best mate do you honestly think OF would have me as a best mate............come on.
Links isn't it about time you grew up childish comments like that . 75 % of share holders have lost faith in him a lot of people stand to lose a lot of money the way things are going but in your eyes he's a genius ?? I honestly hope u searcher and others are right and he is a genius but I ain't holding my breath.hes big enough to cope with the flack that comes his way hope the million wage softens the blow. Are you his best mate.
The Company intends to drill two exploration wells in the Karpaty area and one exploration well in the Permian Basin in Poland during a single campaign using a rig from Exalo, beginning in mid-September. All wells are relatively shallow and are in a proven hydrocarbon trend area. All three wells are expected to be completed before the end of the year:-
1. Kety, on the Bestwina concession in Karpaty, targeting gas in Miocene sandstone with a 4 Bcf mid-case recoverable target. 60% San Leon Energy (Operator), 40% PGNiG.
2. Gieraltowice on the Bielsko-Biala concession in Karpaty, targeting gas in the Upper Carboniferous sandstone primary target and Lower Carboniferous limestone secondary target with a 4 Bcf mid-case recoverable target. 60% San Leon Energy (Operator), 40% PGNiG.
3. Niwiska, on Block 243 in the Permian Basin, targeting oil, in the naturally-fractured Main Dolomite, with a 400,000 bbl mid-case recoverable target plus some gas. San Leon Energy will operate the well, and this drilling will fulfill the final stage of its farm-in, leaving the equity split 50% San Leon Energy and 50% Celtique Energy.
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