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Oil in humpy was sizeable but uncommercial because they didn't know what the fluid was. Could you explain this line for us please....
Now again like every post of that board could be complete pnoy, but anyways this a summary of what this guy has heard from a 'reliable' contact... 'Oil in Humpy was of a sizeable amount but was uncommercial because they did not know what fluid it was. The P&A is on NBL's tab.' So going from what's above, if they are getting samples of this fluid atm and testing it, which they could well be given the amount of time the ER has been sitting there, it could be quite a turn around. But then it would be odd to call a well uncommercial without running any logs or testing the fluid down there?!?!?
Parsley Iso el will be good. PMO stated that Isobel /Elaine had 400 million approx so this is a step out drill to see how big it is. So it could end up being 500 million barrels here alone.
No need for nerves re Isobel step out as its essentially to prove further reserves which I expect it to do just as Zebedee has. Really its just an appraisal well some 4.5km away from the first well. Ok it could go wrong and in any event thereafter will probably wind up as an injection well later in such event should that ever be needed. But judging by the well pressure first time around the chances of a second success are quite good.
Because that sample, if they can get it, upon analysis, could be worth a lot of future costs by proving the oil quality, if not likely quantity. Humpy was never going to be any sort of production well but was about generally proving a seal plus if there is any oil at all in that part of SFB. Purely in that sense its been a success. It will add immense value to any 3D etc. I suspect it will turn out to be quite similar to the NFB crude and further well analysis, which seems to be what is likely to be happening now is vital to FOGL in deciding the next SFB move, if any. This well analysis could change the SFB modelling quite significantly, but which way ?
They don't know what it is and what they have purely because samples couldn't be collected at the time... Hence it will always be deemed uncommercial until samples have been taken as they simply don't know.
would they continue to spend all this money on it??
but why would they want a fluid sample of something that is non-commercial?
They are trying to obtain fuild samples from the initial 40m?
Apologies for spelling - big hands using a phone
As I said I hope you are right and I will in die course apologise if it does turn out that there is an RNS after elextions that gices the share price a boost. However, conspiracy by definition: 'a secret plan by a group to do something unlawful or harmful' - This politics theory slots straught into that definition
When the rns lands as to what they found will it be before or after 22nd. Lets wait and see. Isn't it funny when someone as a view thats not status quo they stick the label of conspiracy on it... there is no conspiracy if the rns comes before 22nd then i will hold my hands up if after then i do think that the elections have had a play on things.... you have to admit the rns's have been vague.
You seem to be becoming abit obsessed with this argy election conspiracy. Would be nice if your fantasy were to be true but I think you need to let this idea go
No one as said its commercial what people are debating is wether fogl and noble know more about this well than they are letting on. They found oil 65 mtrs in total of sands what made it non commercial and why was the wasn't we told the reasons after all we are the shareholders and we have power to vote out people that are not forthcoming. They are shareholders here who have lost a packet on that last rns and have the right to know why a 60 day drill took 130 odd days and we are still sat on it 10 days later doing p&a????? Is it all political we will see....
This is where all the oil is and thankfully FOGL have a share of it with more to come. The North basin is FOGL saviour ,thankfully. Disorder and prove up then sell to the highest bidder in a few years time when oil is back up in price.
Humpback is not commercial , end of story really. There seems to be a lot of people thinking they've been misled and that the results were somehow different to those revealed. Forget about the the lower 25 metres which have only moderate porosity and low hydrocarbon saturations , as for the other 40 metres they know enough to call it non commercial .As they said in the RNS this well may facilitate the mapping of higher quality sands elsewhere. Bushell himself commented that " the reservoir qualities in the various targets penetrated by the well were however poorer than pre drill expectations " I bought in here on Thursday with the expectation that we see a rise due to future drilling operations so am not trying to put the company down but come on this is fantasy stuff to think Humpback is going anywhere except for in the history books as a very expensive failure on some counts but a success in that it it is the first well in the sfb to encounter oil and demonstrate a working hydrocarbon system in the Fitzroy sub basin.
Agreed this is all very strange as they are very clearly logging and as Pete suggested coring also. Granted its a deep well but even allowing for that its taking an awful long time so if nothing else its certainly not a duster in the accepted sense of oil co description. I wonder if they perhaps think they have been very near to a much larger possible strike as could explain matters (nicked the ear instead of a dead centre) but at present that's just musing. Otherwise its as they said simply putting everything properly in place for perhaps another time if the oil price improves.
Theres more to this well than they are letting on as shareholders are we being lied to. Did they annouce it as non commercial to get mates rates. Lets see what they come out with in a further update, my thinking is after the argy elections conclusion....
i woke up this morning and my prophet was gone ooh eeh chirpy chirpy cheap cheap
Hamster! Where's our profit gone?
No never known it take this long to P&A but there's always a first time. Think a lot of the time was logging or checking it all.
Come in 604. !! That damned hamster's back down the well.
Agreed, no chance of NBL saying that but it may well be couched in the if and maybe language to give a lot of wriggle room for both FOGL and NBL in future.
I think if argy elections had concluded i think the rns would of been worded differently.. just my opinion...
I fell for it once m8 oil turning to water only this time well experienced geos don't know what it is allegedly.desire at the time thought they was jesus christ or was it all political, who knows untill we drill around that area again...