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Well successfully perforated
Test programme ongoing
Potential reservoir damage from mud filter cake,may require acidisation to bring gas to surface a common problem for Pannonian reservoirs.
Shame about the blockage, not a caspian affair yet though.
Theres a head and shoulders pattern on this one closes just below .44 so will watch for a possible entry today.
Should hopefully be sorted by the time we commence WN.
Just take advantage on any dips imo.
Are they funded for issues like this?
Genuine question , not meaning to deramp just wouldn't like to be caught out by a lowball raise.
Amazing how many smaller companies cite mud build up when they can't get a flow to surface - a way of drip feeding the bad results. Disappointing results but it's not over yet - it's possible but I would't bet my house on it. Go well.
Funding not an issue. The prize is and always has been WN whatever happens in Romania was only ever a bonus.
If the need for acidisation is a normal activity I am surprised this was not anticipated and proactively prepared for. When the rns for testing a gas well carries comments about ‘nearby’ wells producing 1mmscfpd I am wondering what they are expecting from this well? I am getting rather concerned for this share and holding on for WN which, I hope, will meet the hyped expectations attributed to it. Today’s rns is not going to raise the roof IMHO.
Drill a hole in the ground and come across some mud... tut tut... that’s 25% off your value
Great opportunity for top up, will be bk to 0.60 quicker than you can say “put your left leg in”.
Exactly, people expect perfect results first time.
I am no expert but I would say is that they can't prepare for the mud as it could be different kinds of mud requiring certain acids. For example a more clay like mud would require X acid and oily mud would need Y acid.
Also take note that another well not too far required the acid and afterwards was a commercial success.
pawnsacrifice, you have been up early to bag your 'AIM fear post award' ! Nice 'Head and shoulders name a low price' BS element to you first post but it's just BS and nothing else.
Funding for acidisation will not be great. Note the rig has gone while they assess and treat. Note also from the 24 million raised at .9, 17 went to Rathlin followed by 1.4 and shares to Humber.....so that's all West Newton. A mere 3 was invested in Parta.
That said it's frustrating and you can hear the frustration in the text. They can see the porosity but nothing is flowing! They have 2 other intervals they could target but for now they are sticking with PA IV as this is clearly their target.
I never like it when wells are shut in. Stuff can happen underground. As I type I can see the MM's have made a 20% adjustment to see if they can scare people into selling. I wouldn't because as a relection of Reabold's performance and prospects, it a BS drop!!!!!!
I am also unable to buy £3000 worth so i don't think it will be there long.
If you can get any sub .6 it's a steal and i will be loading....
No its not BS you moron its a pattern I've been watching play out for a while its why I didn't buy and now its happening.
Don't be a plonker all your life BH not everyones deramping all the time.
Oh do me a favour! You've been watching play out.... my god!!! What, you were sat down hole watching the mud??
What a load of absolute tosh.
Can you see down WN-A as well? Pray enlighten us.....
I suggest you pop over to advfn pull up a daily chart and have a look yourself BH. The head and shoulders is plain as day. I'd never buy that pattern and if you're seriously saying you don't know what a head and shoulders is then perhaps you should stop trading for a while and do some basic research.
I'm not trading.... I'm investing
for every pattern you fancy, there will be a thousand exceptions.
news drives this share, not poncy patterns
very simply put
Head and shoulders is shampoo. You cant catch me out
lol yes its good for fighting aliens too.
Interesting morning chartwise. The MM's gapped it down to the neckline and left the rest up to the market.
Its back to the neckline now but (imho) may not have completed the move so I'll leave it for now.
Hope it flies for you all.
"I suggest you pop over to advfn pull up a daily chart and have a look yourself BH. The head and shoulders is plain as day"
You're charting this stock! (this is where all the laughing faces gushing tears would be)
Think there are tears enough today Fyoz and no I'm not I just don't buy head and shoulders patterns as pronounced as this one had. Just can't press the buy button when its so obvious.
Nice to see I was quite so right too its playing out exactly as it should.
Today was a smile and buy day, when the opportunity comes take it. Go back to FTSE if you don't want to play the game here.
So the head and shoulders pattern detects the mud blockage? You charters are very cleaver this will be back over .6 in no time with a run up over 1 with the WN spud. Is your chart in agreement? JB
No I think it declines from here through lack of momentum to push it through the neckline but with low volume shares its really easy to be wrong charting so as I said hopefully it'll fly and you can all just have a good giggle as it rises.
I am always impressed by the speed with which ADX get the news out, whether it's good bad or indifferent they don't b.s. around for weeks or months.
You think it goes down from here? Are you mad? Everyone is here for West Newton. What everyone is waiting for is either WN A EWT resumed or WN site B rig arrive.