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EV - CA will continue to slice because companies like PIs do this to make money. At some point you only make money if you monetise your holdings. However hopefully as they sell in the future more institutional investors will take their place. personally i would like to see the company off AIM but I do not think that will happen any time soon
As for the RNS . i guess most people read about the better than expected results and production - since that is what is being sold by the company with their regular offloads. which is why the price went up. the market will always decide whether it is positive or negative news
You can either read and focus on a perecentage of water which the company has repeatedly stated has no bearing on production
or
you can look at the production figures and how it will increase to 17k-20k per day next quarter and that they believe it will last long term
And CRS or CA have sliced and then added. I assumed they were a distressed seller but passing the 5% threshold down and back up. With all due respect EV I think you are trying to sling mud where there isn’t any to be slung.
HH,
Both writing at same time! :-)
MTV,
"the cut in (6) is yet to be revealed, I see no mention was made of this."
Wrong again. Here's a quote from today's RNS:
'The 6 Well is currently flowing individually at approximately 14,700 barrels of oil per day with minimal water cut. '
OK, you can start splitting hairs (maybe with your buddies in The Grill) and asking for a definition of the word 'minimal'. But be that as it may, you can't say that there wasn't a mention.
“The cut in (6) is yet to be revealed, I see no mention of this” ?
From the RNS “The 6 Well is currently flowing individually at approximately 14,700 barrels of oil per day with minimal water cut.”
I take it then that utilisation of the word “minimal” must have either been insufficiently accurate for you, or that you believe they are covering up for a non existent double digit water cut that you are attempting to promote.
MTV,
"Think i will stay where i am and keep my powder dry fro the time being.........."
Given that it's the weekend and the stockmarket is closed, you don't have much choice, do you? Or are shares traded in The Grill?
ash666,
"Can you take a horizontal off it higher up?"
Yes. This is exactly what was done with Lancaster well (s) 7 and the subsequent 7z. Seven was drilled 'sub-vertically' and deep, to establish OWC (see company glossary!), then plugged back partially and 'sidetracked' to horizontal, giving well 7z, one of the two current producers.
Thanks.
Can you take a horizontal off it higher up?
ash666,
"What is a "Sub-vertical well"? Just another name for a horizontal?"
No, it's an 'inclined' or 'deviated' well. In Hurricane's case, and historically, most of the well is drilled vertically, with the lower part inclined to around 20 degrees.
What is a "Sub-vertical well"? Just another name for a horizontal?