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"If the write down is 50% the share price will rise."
Keep saying that to yourself.
Kaboom,
It seems to me that you are not at all familiar with the concept of “price”.
Everyone is expecting a substantial write down.
Maybe 50-70%? But the share price is already way ahead of the news.
5p = / = 50p
If the write down is 50% the share price will rise.
I understand the lack of commitment wells saves them money in the short term but surely, the reserves downgrade is a hefty price to pay for it. People are just fooling themselves with this concept, just to reassure themselves that all is not lost yet.
Cough....commitment wells disappear?
Halliburton drilled the original wells
So not only do you have drilling LWD data but you also have schlum logging data and interpretation from both companies in conjunction with hurricane.
Now someone please tell me,
No correlation was made between two sets of data/tools and all the logging boffins including Trice made the wrong call on OWC
Surely all the horizontal sections some as long as a kilometre were drilled and placed based on the OWC simulated models, taken from previous results.
Now tell me all their discussions, assertions at high level are all wrong.
I don’t buy it, sorry
Everyone makes mistakes.... that's why they have rubbers on the end of pencils...
Anyway ADUK .... was wanging on about "some unique and ground-breaking computer modelling of the reservoir" Funny no reference to it...
I agree with Aduk ... I just can't see them making a mistake on OWC when drilling vertical wells being as they pretty well invented well logging way back in 1928.
"Conrad Schlumberger (2 October 1878 in Guebwiller (Alsace) – 9 May 1936 in Stockholm) and Marcel Schlumberger (21 June 1884 in Guebwiller – 9 May 1953 in Val-Richer) were brothers from the Alsace in France. Their inventions in the area of geophysics and well logging were the beginnings of Schlumberger Well Services and the entire well logging industry."
On the other hand, being 100% accurate with horizontal drilling is a bit more difficult. It seems to me that if a mistake HAS been made then maybe it's 7z that is deeper than thought rather than OWC being higher.