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If you sold or are not ieven invested why are you here clogging up the board, please no need to gloat or deramp l, it's too obvious what you lot are doing,
DegsyAlmond keep Ramping.
John Henry
But there is also oil in the top layer, even if low commercial
We wont know completely until the drill hits the lower targets, at the moment neither position is 100%
and the Naanushuk seal Degsy ?????
Read the rns they are targeting the deeper zone now.
2 zones in the nanu
Degsy
Main target was nanushuk, they have drilled the nanu moving to the torok which was least likely cos out of 3.
We are not in a good position, pointless selling now.
At the end of the day it's easy to say Agenda..I've had more dusters with this stock than I care to remember and I'm a fortune down from my initial investment from Puntland many moons ago..However I'm a realist and I own stocks in many oil and gas explorers and producers..So I know how drills work..And when you get a statement like this..
The Winx-1 exploration well intersected a zone of interest in the Nanushuk Formation between 4,460' and 4,530' on the 28th February 2019. Weak to moderate oil shows were recorded, including fluorescence and crush/cut fluorescence, whilst drilling through this zone; however, initial petrophysical analysis indicates potentially high water saturation. Additional analysis is ongoing and will be reported once available. The Seabee turbidite target at ~4,272' exhibited no evidence of hydrocarbon saturation.
Sometimes you just don't need to know figures..Weak oil shows in hight water saturation tells everybody who has the slightest idea of what they are talking about all they need to know...
Also it occurs to me that its improbable that if this level was N5 (as the depth would suggest)and it has likely poor quality commercial oil then N4 wouldn't have had any oil shows whatsoever over its entire thickness?
This again leads me to believe that we are not there yet and this was literally just the first oil show so RNSed like EME RNSed every fart of gas from every single level
Tiburn big negative is water bearing top layer. If theres water in the top layer there pretty much zero chance of there being oil underneath.
your right mate.
A lot of people have just had their weekend ruined.
Did you buy expecting a dead cat bounce and it didnt come?
Main target to come and they have oil shows. Plus 2 more targets. Place your bets.
Spike -I take on what you are saying but as you are so in the know could you please confirm for me the details on the actual quality of the oil found / at bopd the line is for it to become commercial and non commercial and exactly how many barrels we have found so far???
Call me stupid but surely all these figures are still in house and being evaluated by the pretroscience labs unless I'm mistaken???
Or did I miss read the numbers in the RNS?
And as for the below statement can you please give evidence of this as there are a lot of oil fields out there that are producing sand oil that is very poor quality hence gets a much much lower price of around $19 per barrel than say WTI or Brent.
IF we find no more oil, and IF what we do find is still LOWER end of commerciality this will NOT be produced. There is NOT one oil company EVER that has taken LOW quality oil into production alone
You are trying to sound balanced but non of us has any figures at all to back anything up with, you are just spouting sh i t for your own agenda. Until we get final results non of us know and until then we have to sit and wait. Nobody knows anything 100% until results RNS and beware of anyone saying different as they have an agenda. Good luck all.
Lower end commerciality most likely means it commercial yes But But not very profitable.
Just above break-even range.
Imo
And what is the cost to extract and sell vs income from low end oil. About zilch
Yep Chicken...it sure doesnt say non commercial just in the lower end OF commercial
Desire Petroleum - oil to water
RMP - water to oil? they still need to complete petrophysical testing to confirm
"Weak to moderate oil shows were recorded, including fluorescence and crush/cut fluorescence, whilst drilling through this zone; however, initial petrophysical analysis indicates potentially high water saturation. Additional analysis is ongoing and will be reported once available."
In any case, there are tow more targets lstill to come, which are not connected to those above and can be counted as completely separate plays.
Anyone following AAOG, this has a 4 target reservoir
R 123
Mengo
Djenio
vanji
They hit ona ll 3 targets so far, but the main more viable target is the Djeno at 5000 bpd
So if their latest drill had missed in R123 and Mengo - first two targets, they would have crashed as today
When they hit the Djeno 12m of oil they would have bounced back ,as that level of find makes the first two reservoir targets completely irrelevant - to the point where the Chairman previously stated they wouldn't even bother producing from them and just produce form the lower Djeno reservoir if that event occurred.
Its still all to play for - completely oversold
Gues that only leaves the TORUK and FAN Targets. Neither of which are the primary targets. Doesn't sound too good to me.
Oil shows when we wanted it. Not the main target but are lower end commercial. Main target plus 2 more to go.
Ive looked at this a lot now
The RNS says "Oil shows have been observed whilst drilling in the Nanushuk"
They didnt rns no oil from SeaBee live, they've rinsed the first oil show they had that seems to equate nicely to N5 formation given the depths. I think its entirely reasonable that they've not hit N4 yet
"The forward plan is to continue drilling ahead to target depth ("TD") to test the deeper objectives"
This does not say lest the Torok or secondary targets, just deeper objectives. N4 is clearly a deeper objective as indeed is Torok
Also they are way ahead of the drilling schedule to even get to N5 let alone N4 and also so have analysed both N5 and N4.
So i think there is a very good chance that this oil show is literally the first oil show and they've RNSed it and its from N5 with N4 and Torok still to come.
Still could be vast amounts of oil.
Poorly worded RNS hasn't helped the PIs
And here is the bit you need to pay attention to,
IF we find no more oil, and IF what we do find is still LOWER end of commerciality
So on that basis, lets wait until its fully drilled to then decide. Why do people insist on spouting this when we have still NOT FINISHED DRILLINGGGGGGGGGGGGGGGG
haha
Right let’s set this straight as too many are playing on words 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 Now, the risk, now listen carefully.... IF we find no more oil, and IF what we do find is still LOWER end of commerciality this will NOT be produced. There is NOT one oil company EVER that has taken LOW quality oil into production alone. EVER. It’s pointless to outlay such Capital costs, more drilling, storage, transportation, tax implications, find a buyer vs price per bodp, AND it wouldn’t even be down to RMP as a minority holder in this well Now I am happy for people to evidence that I am wrong but I won’t hold my breath Zones so far are as good as duster Too many people playing on words.