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I think there will be an RNS on monday saying that they made a mistake and theres lots of oil all about the place
Either way with a supposed high chance of success expectations around the column various commentary from the company saying how convinced they were an explanation needs providing on what went wrong because this did go wrong massively
Maybe so, but maybe just maybe ,everyone isn’t as competent as yourself private grass.
You're clutching at straws here..
I used to be an offshore surveyor. Very rare that a rig would be jacked down in the wrong position - that's why datum transformations are confirmed using coordinates prior to loading into positioning software.
Here's what happened - ADV tried to reprocess poor 2D without significant geological input, drilled an area that's already been heavily drained and got disappointing results. This share is finished. 'It will bounce back' - no it won't it's 6ft under and the funeral has already taken place. I feel really sorry for everybody that was so heavily invested. I have quiet a large pot in multiple AIM listed exploration / minerals company's and its high risk, high reward. I too would feel completely shot losing an amount that many have the past few days but trying to talk yourselves back into this is just prolonging the pain. Perhaps this is what people don't want to hear, but need to hear. Its done.
Not being negative - just my thoughts, if I get a torrent of abuse for this then fair enough.
Whatever has gone on here, something really stinks. Investors deserve some justice. I'll pray that there is still a pleasant surprise to come for all those who have been hurt by this disgrace.
If they have got it so wrong it's almost a joke.
If so an expensive one at that.
So it could be that the results have been interpretated incorrectly and the 80 metres column is there?
Great email I am in disbelief how they got this so wrong there’s more to this in terms of ascertaining what went wrong because it’s incredible how wrong they got it
The most helpful post on here in days rather than the madness that has been occurring. Hopefully you get a reply at some stage.
Hello my name is #########I currently hold approximately 25m shares in ADV. I hold a BSC in Ocean Exploration/ Hydrography from Plymouth university, and have worked in the seismic industry on land offshore and in the TZ throughout East Africa.
Ok introductions out the way, obviously disappointing results regarding the recent drill, my question to you is this, was the original seismic survey shot in a local datum? If so are we using WGS84 for the current positioning of the I’d imagine Jack up?
Obviously my next question to yourselves and specifically the hydrographer responsible for the positioning of the Jack-up, has the conversion been done correctly?
I’d strongly suggest we need to start checking this as a matter of urgency, as I’m aware of several instances of this occurring, if you need help, I can put you in touch with one of the best hydrographers in the world, he’s a personal friend, and although he currently works in the fibre optic cable space, his industry experience is second to none.
I fail to see how an attic of oil on seismic data can just disappear, and I strongly suggest we need independent verification of rig/ jack-Up positioning.
If a get a reply I’ll post it here as soon as.
Maybe they just drilled in the wrong place.
Main reservoir was drained years ago by BHP and Nexen , could be they
drilled the empty main reservoir vice the predicted reserves near it
Would not be the first time and won't be the last , even the giants make such
errors , back decades ago Shell and Total , missed the fact prolific North Sea
Kimmeridge layers extended across the south of England
Turned out when it was discovered , the big boys had drilled the wrong side
of a fault line and missed the mark.
If it is a geological/drill error they should identify it soon enough GLA
;))
Has to be worth re shooting a square km or 2 of seismic, I don’t believe that the original seismic is so poor that it’s identified an attic of oil that didn’t even exist, imho it’s there, however, we obviously have a conflicting error between our current data and actual geology, mind you that’s got me thinking about the datum the original seismic data was shot in, has the conversion to gps84 been done correctly if so, because if we haven’t are we drilling where we think we are!
It would be a unforgivable error, but it’s happened in the industry on several occasions, I’ll email the company and see what they say.
Anyway fingers crossed all.