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20:18 precisely, none us here actually do know :-)
Who informed you they are the worst? They maybe the best
Brom @ 13:59
I agree, "to examine a situation or activity again", however your original post was, "pleased to see you have reappraised your previous comments" so to readers it appears as if the olderwiser poster has given their original post a positive change in sentiment.
I'm merely suggesting, possibility not.
It does beg the question, if the 48 side wall cores taken, 30 were discarded, 18 trims were taken, presumably of the best samples. Of them the first 5 have provided 2 with oil shows, 13 remain.
I've modified my thoughts as well. Why would the company release the worst results first?
13:15
Reappraise - "to examine a situation or activity again",
I think that is a fair summary of what has happened resulting in " My take is now modified".
Could change again as further information is released either officially or unofficially, at the moment public data is incomplete.
And we await the lucid response from Vinny the Knife, Ddraig.
Brom @ 9:40
With regards the olderwiser post, the way I read it, modified does not equal reappraised. Who's to know that the comment from Reddit is correct in this instance.
I interpret it as "further comment pending" neither postive nor negative at this stage, as much is unknown.
That's just my read however.
09.40 Given the honourable post from olderwiser it’s a shame you have previously alluded to him and others having a negative agenda in everything they post.
04:16 pleased to see you have reappraised your previous comments based of further knowledge gained subsequently.
Core extraction and testing is an expensive (and if done correctly a demanding process) and to be of value needs to follow industry protocols if we are to produce results that would mean anything and encourage (hopefully) industry buy in.
I believe none of us are replete with enough data necessary to make any definite statements at to whether there is potential or not just at the moment, but the fact that testing continues must be hopeful.
I sometimes wonder if 88E would be better off not giving interim results.
http://w3.energistics.org/RP40/rp40.pdf
Thank you Olderwiser
Very helpful
Thursday 03.24
Having asked a question elsewhere, on the sample selection logic, and receiving a credible response. I though others would also find it interesting. My take is now modified, the next 13 samples will tell more than the first 5.
https://www.reddit.com/r/EEENF/comments/o76hr0/merlin_1_laboratory_update_06242021_and_finger/?sort=new
Selecting the intervals to be cored is actually done on purpose at the well site after open hole logging. The geologist / log analyst / petrophysicist always choses the good, the bad, and the ugly so that they can obtain exact reservoir physical parameters and calibrate the log data. Tight, low porosity rock have different Log resistivity and density porosity from the good oil saturated rock and sometimes are difficult to differentiate. Also, some intervals may contain 100% water - they really need to know that! AND - some samples may only contain natural gas and will not show oil indicators and fluorescence - the rock would look hydrocarbon dead. The choice to obtain a lab "quick look" at 5 samples allows the petrophysicist and the log analyst to jump start, as it were, the entire geological / petrophysical model. So - they can now see on the logs the good, the bad, and the ugly with confidence.
The other 13 samples had good oil saturation and as such will receive the special "Dean Stark" Lab process. This will focus on and define the "oil reservoirs."
The important bits are in the details section, and the numbers within.
48 sidewall cores have been cut in the Merlin well
18 were specifically chosen to have trims taken and analysed, presumably the best of them
5 were from untested zones where hydrocarbons had been observed during drilling
2 confirming the presence of hydrocarbons. which inverts to 3 samples had no hydrocarbons.
13 samples to come, hopefully a better ratio of success in them
It is a concern that the data released so far does not cover gross to net pay. A few feet of productive sands within a play, will not be commercial. The sooner this comes out the better, as for now it is looking distinctly mediocre.
00.31 - Don't naive...they'd get the initial report and they would argue they need time to review the report and word the release...lots of other parts of the process could be used to massage the timing by a day or 2.
Just woke up to my 88e alarm email
Let’s see how OZ takes this news !!!
Seems good. Whoever bought 4.5m shares at the close timed it well.
Also not sure they can time the news to suit them, on a Monday or whatever. They've surely got to.give the stock market news when it's news
00:08
I agree - looking good.
Moreover I actually guessed a news release correctly ;-). Brom, tell me you’re impressed?
I agree seems confirming of everything that was initially hypothesised. Still more work to do on the analysis and the further appraisal of Peregrine but no red flags as yet.
Price sensitive and it looks very good
https://www2.asx.com.au/markets/company/88e
It all sounds very positive to me
Out now