Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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If this were just on AIM,you would think it would go into radio silence, however ASX regs require them to publish price effecting developments- so I am inclined to think that we will see an ANN tonight.
I am also inclined to think that news flow will pick start coming thick and fast!
Either way the market is expecting news iminemntly, so hopefully will see a move north overnight! GLA
Realistically If this is the news we all hope, its not going to cross 50p until the frack is started and we have stabilised production.
And a short squeeze
An RNS would be magic to start this ball rolling, the reason I want it tonight is so all those doubters have no chance to get back on board at these rates lol
88 usually give a weekly update. Let’s see, this may change now they have reached TD
If Winx is commercial how soon will offers follow to buy our stake. We know when the poo was $40/b, 25% of 500mmbo went for $450 so we have a benchmark. That resource under further analysis increased to 1.2bn blls so they got a bargain. Same sands same Nanushuk same oil source? Let’s see.
That could be us on that journey come Friday latest
88E managing director Dave Wall said: ‘There are early signs of encouragement at multiple horizons in the Winx well; however, it is too early to say whether these will result in a commercial discovery at this stage as more data and analysis is required. The forward program, to be implemented over the coming days, is designed to improve confidence in the interpretation and assist in the decision to proceed with production testing, if appropriate.” Likewise, Jay Cheatham, CEO of Pantheon, said: ‘I am very encouraged by today’s news, however, would caution that additional data and analysis is required before we can make any definitive assessments on the Winx-1 well. The forward programme is to now complete logging and other technical analysis in order to provide as much information as possible to assist in determining whether production testing is warranted.’ Meanwhile, Red Emperor did not provide a quote but included the following line in its RNS: ‘These initial observations and interpretations, whilst encouraging, should be treated with some caution as additional data and analysis are required for further assessment and validation.’ Even if one is a duster just remember they have different pay zones !
I don’t know if she was opening her shirt, but I did mean to ask when she opened her short on the share lol. You say that 60p would break even and you think that’s no way going to happen. If I remember rightly didn’t GKP go from 9p to 127p? IF they have commercial viability in them there Alaskan hills, then who knows where we may end up...just saying!
But first or interim news could be any day from tomorrow. Rumours on twitter for news tonight in Oz......we will soon find out! I’ve been holding through the turbulence and aiming for a multi bagger this week !
Degsy,nice if they were chasing HC,then why else,not to tap water,shows are the only reason to extend,
Above N5 was lower end commercial pending further analysis then in N5, N4 they had multi zone shows which may have ententes into N3 and below; and they exxended TD from 6500ft to 6800ft extending Torok by 300ft.
I know it's childish, but I keep chuckling about AnneOwl opening up her shirt. I suppose it's a tad better than opening up her shorts.
A few more hours, and I'll find out whether it was a good thing that my attempted sale of 50% of my holding at 16:29 didn't materialise. If the sp plummets, so be it, I'll hold again. If it surges, it'll need to go up to 50p for me to even begin to make up lost ground. 60p, more like. Sheesh. Chance would be a fine thing.
@Redbus Anne opened up her shirt!? I must have missed this. Lol
What you fail to mention us there were several different zones that needed to be drilled. The main ones being zones 4 and 3 they were in zone 5 when they said below commercial. Them they went onto 4 and 3 which they announced several zones including the Torok zones. Now whilst you have selected some parts of the RNS and posted you need to put the other details along with it. Eg the first rns came when they were at 4530 feet they still had over 1400 ft to drill and in face drilled to 6300ft so a further 1700ft odd. Try harder.
So Anne Owl in which day did you open up your shirt on this share?
Anne owl if you'd bothered to read the latest RNS you'd know that they went on to hit oil shows in N4 and the Torok
''Encouragingly, we have also encountered multiple potential pay zones in the primary target as well as one of the secondary targets. Whilst it is still early days, we are well placed and look to the wireline program with measured optimism."
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=88E&ArticleCode=oio7dw3r&ArticleHeadline=Operations_Update__Total_Depth_Reached
and from 4March
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=88E&ArticleCode=d2bkkxe6&ArticleHeadline=Additional_Interim_Results_from_Drilling
''Highlights: Winx-1
· Primary Nanushuk targets (topsets) intersected between 4,667' and 4,901'
o Elevated mud gas (C1-C5) associated with oil shows and increase in LWD (Logging While Drilling) resistivity recorded within interval
o Initial interpretation encouraging based on comparison to data from nearby successful Nanushuk well
· Previously reported Upper Nanushuk Formation interval (4,460'-4,530') remains the subject of further analysis
· The Torok Topset Sequence 4 (secondary target) was intersected at 6,052' with elevated mud gas readings (C1-C5), oil shows and an increase in LWD resistivity recorded
I suspect you knew that already
For a first ever RMP post it’s a very very poor deramp attempt...
You should have been trying that line over a week ago
Well that zone is above Nanushuk 5/4/3 target zones. It wasn’t a pre drill target and just a random zone they got
Only of interest because Horseshoe hit oil/water at the same level then maybe 1.2billion barrels of oil just under it.
"Oil shows have been observed whilst drilling in the Nanushuk in the Winx-1 exploration well
o Preliminary review of the interval by the operator suggests that the zone in which the shows were encountered is at the lower end of the range required for commerciality; however, further petrophysical analysis is necessary"
I hope they confirm they were wrong and Nanushuk is in fact commercial....
In fact 88e RNS uses "confirm" too. Clearly confirm is nicely language than verify!
Seems the operator knows they are onto a winner.
Interestingly from the TD RNS...
LSE - A comprehensive wireline logging program is due to commence on 6 March 2019 (AK time) to verify the prospectivity of the zones of interest
ASX - Wireline logging program is scheduled to commence imminently to confirm prospectively ahead of possible production testing
Spot the difference???
We get told the wireline is to "verify" whereas ASX gets told the wireline is purely confirmatory ("confirm")
Very interesting difference in language you have to think. What a difference a word makes...
Armstrong knew as soon as he drilled through the layer (so he says on that tv clip) - it seems 88e/rmp know as well and the wireline is going to confirm this...
Redbus....I check both of these from 10.30pm onwards on a Sunday night...great viewing, and better than TV!
https://www.asx.com.au/asx/share-price-research/company/RMP
https://www.asx.com.au/asx/share-price-research/company/88E
50% of 253ft
What would you consider to be a successful result?
50ft?
80ft?
100ft?
150ft?