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I saw these constant 1Million buys going through...someone definitely loading up here this morning for sure
Have to agree with Tonnacombe, I believe the reason they haven't abandoned and plugged the well is because they're evaluating results and seeing whether it's worth the sidetrack. If the Porosity is good and oil flows well, then a sidetrack could be very beneficial and commercial.
They'll announce when evaluating with CVN is done.
Someone is loading up 1M blocks since the opening!
Just now these have gone through:
08:21:00 0.745 1,000,000 7,450 O
08:20:42 0.744 1,000,000 7,440 O
08:20:07 0.737 1,000,000 7,370 O
08:20:03 0.737 1,000,000 7,370
shorters out in full force today
Well money where my mouth is, I’ve loaded 10m down here, on my previous experience in the field, let’s see.
Tonnacombe, you have sound experience in oil and gas that cuts through the conjecture and babble in these kind of situations, where information is scant. Much appreciated.
Don’t be so sure regarding the sidetrack, many moons ago I worked for a oil and gas company, black marlin energy, we had a similar problem with a well on an island called songa songa, we placed an air gun beside the well and recalibrated given the already drilled geology as ground truthing , it’s not a seismic survey over hundreds of square miles and wouldn’t take long, and didn’t take long in that instance.
Anyway eventually the well did come in, and I believe wentworth operate the well, we also did the seismic at Mtwara where I believe they have more gas wells.
Anyhow Goodluck, and remember anyone stating opinions as fact on these BB isn’t sat with the relevant data infront of them, there certainly wasn’t enough information in yesterday’s RNS to have anything other than an opinion, on the next operations at the drill site. Gla
Reading the report it all looks fantastic and almost a proven resource.
Given what has happened questions have to be asked.
Why didn’t they just redrill the previously plugged well.
For such a potential pay day why wasn’t 3D seismic used.
Interesting few days ahead.
Do one JMarsh with your 88e ramping. This is the ADV board for discussing ADV. No one is going to invest in that mess of a company (88e) that's been drilling since 1906 but still bot produced and sold a drop of oil.
Sidetrack - no point
Redrill? Always possible at a cost. However if 2D didn't pinpoint an attic, no point in relying on it!
Siack - no point
Redrill? Always possible at a cost. However is 2D didn't pinpoint an attic, no point in relying on it!
People are clutching at straws comparing this to CVN. CVN is an infinitely more secure company with many deals lined up and cash in the bank. ADV needed this well to be a success or face being literally broke and needing to raise money.