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OaW….you are indeed correct so accept my apology as I fall on my sword.
This week the share price has paused but again today more buys than sell and it should continue its upward trend speedily
Hi OaW.
My calculation of the 1tcf potential was not based on continuity of the deeper reservoir between prospects, but based on the same prospect area as the shallow low risk reservoirs, but at a reservoir thickness of 150 meters, being 50% of what was found previously in lnb1.
Good question about the challenges of drilling the deeper lnb 1 reservoir, chariot have a very experienced drilling team and I am sure they will be planning to deal with those issues encountered by predator at mou 2 and by SDX on deep lnb1.
Jimmy
Thanks for that, Jimmy.
To get towards your 1Tcf target, does gas need to be confirmed at both well locations, indicating continuity between the two prospects?
And is there any potential problem about well formation damage such as Prd encountered at MOU-2?
Good evening OaW.
There are two targets in the forthcoming loukos wells.
Both reservoir targets were previously intersected by SDX in previous wells .
The shallower target intersected a gas water contact and was relatively thin reservoirs, the deeper prospect interesected a gross reservoir of 300 meters with strong gas shows , but could not be wire line logged due to reservoir conditions.
Because these reservoirs are the same age as the offshore anchois b sands , chariot were able to reprocess he 3D seismic and identify the 100 bcf prospects up dip from the lnb 1 well drilled by SDX.
SDX, had not reprocessed the seismic and hence missed the opportunity for follow up drilling.
The 1tcf prospect opportunity for the area only applies if the deeper reservoir found in lnb 1 is gas bearing up dip, and this deeper reservoir has been identified in the new seismic up dip and will be drilled by each of the forthcoming 2wells
Because chariot have such a great database for these reservoirs from offshore it allows them to identify such opportunities.
I feel very confident gas will be found , and there is a reasonable chance for gas in the deeper reservoir.
Jimmy
Dbh, you're the ****, I'm afraid. Please check the handles again. I've never been anywhere near matd. Ever .
The trades have definitely changed from consistent sells Jan - March to now lots of buys and sells, the buys seem to be outweighing sells. Wild theory- the seller is out and someone else is accumulating while trying to keep the price down.
You wouldn't think it from the price action! Very strange right now.
Last SDX drill was 24 days but that was 2000m. This one is under 1500 meters so say 16-19 days? Spud was 3rd so we could have a rig heading our way by the weekend.
Ow….well let’s hope you have changed from being the compulsive dick on Matd and treat others with respect
Aha. Well observed!
I am a shareholder here as of this week, again. I think the timing is just about right, but I never get the lowest prices.
OW, are you still just in PRD or have you moved some monies here?
Good afternoon Jimmy.
I've just listened to the March Loukos Pre-Drill webcast. Very succinctly delivered by Duncan Wallace.
Regarding the Loukos acreage, some troublemaker over on the other bb has suggested that this is a "SDX cast-off", rather disparagingly. I am assuming that SDX did let this go, but can you confirm that, and why didn't SDX make a success of it, if indeed this is a low-risk play, as Duncan (and you) suggest?
As well, I know you have made mention of a possible 1Tcf resource potential at Loukos, with drilling success at the deeper sands. But CHAR make mention in the webcast of just 100Bcf+ (page 8), and this being a longer term opportunity. So I'm thinking this will not get drilled in the 2-well drilling program this Summer. Am I right in assuming that? And why the 100Bcf-1Tcf difference?
ATB.
Very sensible Sir Hockey. I agree with you entirely, especially as Mr Buffett says the same.
Patienc, and we need to see some GAS !!
I very rarely post as (before anyone says) I have nothing constructive to add. My knowledge both of the Oil and Gas sector and of the way that the AIM market works approaches zero. Learning though. I follow all the serious and knowledgeable posts and appreciate why the majority of contributors are frustrated with the SP, especially those that are long-term holders. I bought into Chariot on a tip a couple of years ago when the Anchois gas was discovered and the SP was motoring then. Clearly there has been at least one significant seller since the joint venture was announced in December and various theories have been postulated as to the reason - one of these will be correct but no-one knows which one. I have always assumed the big buyers will only appear when it looks as certain as it can be that gas is about to come out the ground. I don't see that the rig appearing on site imminently or whenever would make that much of a difference. What I'm trying to say in a roundabout way is that patience is still required (not least by me!). Not easy.
Bizarre.... Jimmy/Amanda - Any thoughts?
Afraid this will never move to where it should be whilst there is a seller. Who it is is anyone’s guess but still no tr1 from the selling last week
We’ve had 6 fairly solid updates in the last few months, just need something more substations to get this moving.
"Imminent news" could be part of the problem Bridge as it has been imminent for months now 🤷♂️
Thought this was shooting over 10p this week? Must be plenty buyers down here with imminent news on multiple fronts expected!
Isn’t there atleast 4, 2 onshore and 2 offshore already confirmed for 2024?
"7 wells in the next 10 months". How do you get to 7? I think 3 would be an achievement.
Algos also create liquidity meaning there might be some large background buying too.
7 Wells in the next 10 months.
I suspect we have someone significant in the background continuing to sell.. It can only last for so long..
DYOR