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Friday Bricks
Phuck all this perforation bs, whens this hitting 10p??
Sometimes oil companies use pre-perforated tubing. So instead of run the tubing then perforate they run perforated tubing with multi zone perforation.
Multi zone perforation can be done in one run using perforation guns through wireline cable.
Time wise.. How much longer does it take to perforate 2 zones than one? Would love to see Nanushuk and Torok perforated.
hoovers
Still cant believe my luck after the friday rns sold out really annoyed and repurchased in after, when the nanushuk find came i purchased more under 2.5p. It could have been alot worse for me.
Interesting times..
EDIT "i think mkt cap of 50m before testing is fair, thats around 10p a share"
PANR was very similar however, airing on the side of caution more than DW
"I am also very encouraged by the developments at Winx-1 where we have also encountered multiple potential pay zones in the primary target as well as in one of the secondary targets. We will need to await logging operations before we can make a more meaningful assessment as to the potential of the well, and we look forward to these operations with cautious optimisim."
"cautious optimism" as opposed to "measured" However "We look forward to these operations" as opposed to "we are well placed"
Market cap of 10p maestro. You're being a bit harsh aren't you haha
russukarian
indeed, premium member for now. ;-)
I think a mkt cap of around 10p before testing is fair, thats around 10p.
imho
The extra bit from Dave Wall seems actually important and I think investors in the other consortium companies should have it drawn to their attention.
very interesting
The question is why will our Nanushuk be any different from the Horseshoe or any of the other Nanushuk discoveries? Id hazard a guess that it will be no different at all and therefore be a lovely big discovery
"Data obtained by the Joint Venture from a nearby successful Nanushuk well has proven comparable to that observed in Winx-1 over the same topset features, providing early encouragement. These initial interpretations, whilst encouraging, should be treated with some caution as more data and analysis are required for validation."
No problem Devon - probably good to keep posting it anyway for many that haven't seen it yet!
Such a lot of posts at moment things get lost in the noise easily.
I think it has significance though ')
vanguard I think the consortium (88e, RMP, Otto and Panr) release RNS's containing the same basic core information but they can also add extra company-relevant bits if they choose to. The extra bit D
for informative purposes
..."WL logging for a 2072m (6800') TD doesn't take long, the update says 'interpretation'. They should b able to read the net/gross pay pretty quickly. Question is which zones has got movable HC's present & what's the reservoir property over that interval.
The openhole at Winx-1 should b apprx 4300ft in length (i.e, from 2500ft which was their last casing point to final TD of 6800').
So the Operator will run multiple tools & collate as much info as they can depending on their logging contractor (Halib'ton, Sperry, Baker or SLB).
If there r multiple zones of interest, then they'll run something like a triple combo tool first, then the MDT probe & if reqd take side wall cores (SWC) since they haven't drilled a sidetrack to core the main reservoir.
The swc's look like champagne corks so r sent off to the lab for poro/ perm measurements.
The MDT tool can take time for multiple zones as they stop & seal the pressure pads & take a jab of fluid so its like a mini-DST as it measures pressure, drawdown, perm & obviously the fluid content. Data from the SWC's & MDT fluid as well as production test is whats reqd to lock in a Contingent Resource assuming the net pay is thick with oil (& not water bearing). GLTA"...
It's good to flush out some of the 1.5p guys as we go rather than them all dumping at (e.g) 10p
Russukarian, I saw that, wouldn't you think they would all sing from the same hymn sheet for their RNSs after Fridays fiasco
Sorry russukarian I missed your post this morning.
Devon I posted the same observation about the 'extra' positive bit in 88e RNS this morning, but it seemed to go largely unnoticed. I took it that Dave Wall was a lot more positive about the testing to come based on what they have already observed so far, than he could officially report at this stage ')
One of the main risks when moving to wireline is the sands are "tight" and won't flow etc (i think)
Thats of course a risk in sands no one has been in before. However the Nanushuk has been perforated more times than loose Louise from round the corner and gushed more times than easy Emma. So again there is less risk from that point of view
88E will sell this asset if proven
The Nanushuk is primary but so by implication is Torok in terms of hopefully proving this formation flows and could also flow in the Eastern licence area Armstrong took over.
"A comprehensive wireline logging program is due to commence on 6 March 2019 (AK time) to verify the prospectivity of the zones of interest. This program, including first pass interpretation, is expected to take approximately 10 days to complete."
Its been stated that Ten days is a long time for this activity alone.
It also allows time to invite potential bidders to evaluate data who may have interest in the asset, set up a virtual data room with all Winx LWD, C1-C5 , oil shows information and wireline interpretation as its completed.
There is " measured optimism"as per 88E RNS to market.
Then there is what the company Geos on site actually believe based on their experience of this drill and in their careers. The Geos knew before Winx commenced what indications they wanted to see and in which formation, including benchmarking from Horseshoe.
"All pre-drill targets successfully intersected"
So all targets hit and "multiple potential pay zones identified"
That means the seismic and Geological modelling is proving extremely accurate.
That model validation is a powerful negotiating tool.
The value to LTHs will come from a sale of the asset or the company not daily sp variation. Can we be surprised by a Repsol et al offer soon?
Im not really up to speed with all things 88e but I'm lead to believe thats the most positive thing Dave Wall has ever put in an RNS!
Just been comparing today's RNS.
The following paragraph was included in the 88E RNS but not RMP RNS:-
''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."
Can understand some selling at 7p+, but can't understand why some were still selling down to 6p. I wouldn't count on this not continuing to rise sharply and catching some out now a lot of sellers have been flushed out..