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Just had a depressing thought re Humpy. It may be WO's hamster stuck downhole plus Peteb's damned ferret after it. No wonder NBL has a problem !!
Water into oil... hmmm that would rank amongst biblical acts... But hey this is AIM, so expect the un-expected.. There must be a reason why they haven't moved on, on the other drills they were moving before the drill bit was out of the water..
Looks like they know its oil not water or gas but question is the quality, quantity, and flow rates. That's the conundrum which NBL seems determined to solve. NBL would most definitely not be still there with ER for water or gas.
Interesting that last week WTI shorts virtually disappeared and even regular put contracts were down sharply plus the bullish forwards were up 5%. Bulls are slowly gaining the upper hand with NY traders, speculators and hedge funds. Indicates firmer WTI/Brent oil prices now more likely.
Not really, no. Unprofessional maybe.
Remember Desire said they found oil on a Friday but by Monday they changed their RNS to say it was water.
If FOGL and Noble were to announce that it is definitely oil after more testing?
We are waiting on the ER to move off location. What is going on. They must be running logs or taking more samples for analysis.imo
Google price showing as 11.88p and lse 11.25 is that correct?
Just fed up withvthe smoke and mirrors just tell the truth.....
Jester, Don't worry about it! If Eegbvi is right, and Noble is paying for everything, they're taking their time for a reason? It's their money! Let them dig to their hearts content! Who knows how the outcome of this information might turn the tide in a couple of months? We all need to be patient. Good things come to those who wait. Kind regards
On a uncommercial well. We spent around 70 days on 2 oil discovers zeb and isobel. What the heck is going on stick the cap on it and move time is money......
Dec 2, 2014 Interview : https://youtu.be/mNu6KuKifLo BW
I have a nasty suspicion that the NBL press announcement has a lot to do with NBL's quarterly E&P budget having to be within limit and on target, which is why NBL really doesn't want to start drilling NBL/Rhea pre January 2016 in the new financial year. But apparently NBL solely is paying for all the present delay and detailed analysis. Says quite a lot I think.
I fully understand what you are saying m8 but why announce its uncommercial why not wait until all data is analysed before stating anything. 10 days ltr and they are still taking data there as to be more to this well surely.
Well Noble have stated the presence of hydrocarbons so you could claim the 3 out of 3 there. Noble keeping there cards close to there chest on this drill still, so will keep the conspiracies going. I'll add one what if the oils there but has say a $50+ extraction thus making it none commercial today could there be a deal been done to buy the oil in the ground for a later day ?
It's certainly not a duster... finding oil is the primary objective.. So it is 3 out of 3 in that respect. However we don't know much else apart for a very vague rns. They stated the discovery was not commercial. Could be many reasons for them stating this, quantity, quality, current price of oil and cost to extract. Or is it around the uncertainty about what exactly they have in the 40m zone, ie are they trying to obtain fluid samples. The fact they still remain at the well shows they have something on interest. I wouldn't be righting off the south basin just yet. This proves oil exist.... It maybe a few years, but we may just have found the key to the door. Bodes very well long term.
so are we calling this 3 out of 3 oil strikes now? ...and is this the motherload ... and the game changer for fogl?
They are spending quite a lot of time on this well so personally speaking there is something of interest, what it is is anybodies guess. We could be 1/2 of the way through isobel i suppose moneys no object....
I'm thinking as humpback is in deep water approx 3 times the depth of say sea lion for example , there is a lot of work to do to complete operations before the ER can move onto the next drill.
Due to a number of technical issues samples from the initial 40m of hydrocarbons encountered could not be taken... Without this they can not confirm what they have either way, we know there was crude oil shows which was mentioned in the first RNS. Fogl / noble probably know what it is, however cannot validate this to the markets without samples and conclusive evidence. We know it was encouraging enough for noble to want to keep drilling. The lower targets where always going to be a long shot so they must have seen something good. However without fluid samples the results of initial 40m which may very well contain high quality crude oil have to be deemed uncommercial. They cannot say to the market we think... Or we assume... Until they have the fluid samples they basically speculating on what it might be from mud samples and previous drilling data, which simply doesn't cut it.
All oil before refining has in it some gases and other water based fluids. The question is how much. If its not much you get very heavy crude of about 10api often used for road bitumen. If its 42-50api you're into condensates with a lot of water and gases mixed in. Ideal is 24-32api which has enough to make it flow easily and is readily saleable to refineries. Light crude which a lot of refineries can't handle is 34-40api. That is what NBL/FOGL need to discover.
http://uk.advfn.com/stock-market/london/falkland-o-g-FOGL/share-chat The second post down by smileycharlie. I dont know what it meant thats why I posted it hoping for some views haha