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It does not say non commercial, its says lower end with further analysis required.
Jesus, how can people not invested be assed to keep coming on here??
Close your short mate and **** off, the games just started
I remember selling out of jog when they rns’d a duster, few days later they sidetracked and hit.
Question is are there other things that they will try here?
You need to educate yourself, not be educated
lower end of the range required for commerciality; lower end of the range for commerciality - what does this mean
ANSWER IT IS DEEMED "NON COMMERCIAL"
Even the chap in our office who is 17 doing training understands what "NON COMMERCIAL" Means
When this would hit TD?
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 Dont be a shit stirring. They have stated lower end of commercial but still commercial.
Keep it factual
"is at the lower end of the range required for commerciality; however, further petrophysical analysis is necessary"
This is not the same as what you have written in capitals haha
This will be blue Monday you watch, its recovering now into close a little
its simple to date the well drilled is NON COMMERCIAL
NEVER BELIEVE ANYTHING ON TWITTER - TOO MANY SCAM ACCOUNTS
RNS IS THE SAFE AND ONLY WAY
We have oil shows and the main target plus 2 more targets to come. Imo oil shows here increases the COS lower down. We can but let the drilll bit do the talking and petro analyse of course.
Cometh :-)
Have they drilled N4 and N5? I can't see but no mention of N5 not being drilled yet? What is in the stacked target? Is it worth buying in for?
nice couples
shorters and doom merchants wont be happy.
RMP tweeted with 2 exclamation marks lol.
Get the message.
The two man pumping band with more air than a bouncy castle No doubt in this morning ramping the price, no research, no knowledge, quick trade Newbies BEWARE
I know mate but it winds me off the clock..Oil and gas exploration is a complicated business and those who know and have experience of it are fully aware of what that initial rns means..But along come a few traders who try and convince people that it's actually good news in the hope they can get the price up a bit so they can waltz off at others expense..
I'm not ssaying this is a duster as until the drill comes out of the ground but to try and tell people that the rns was really good news is just lies and he just be ashamed of himself...
Degsy shows mean nothing! What is the point of low quality water filled shows? Jesus No disrespect to some on here but I think oil investing isn’t their game. It’s painful to see people’s niavity and lack of knowledge on today’s RNS If your holding, hold. If your buying I would be switching to 88E personally as they have other drilling options, RMP is now a huge risk reliant on this drill only: what next if we find nothing. I will continue to hold my small position here based upon no point in selling as 1.50p might as well let it ride
In 2007, when the shale revolution was still in its infant stages, the U.S. oil and gas industry was already producing more than 20 billion barrels of waste water per year, according to researchers at the Argonne National Laboratory (“Produced water volumes and management practices in the United States”, 2009).
The industry’s daily output was 5 million barrels of oil, 67 billion cubic feet of natural gas, and 55 million barrels of water, according to federal government statistics.
Argonne estimated that more than 7.5 barrels of water were produced for every barrel of crude, and 260 barrels of water for every million cubic feet of natural gas, based on state and federal records for onshore oil and gas production.
If offshore production is included, the figures drop slightly to 5.3 barrels for every barrel of crude and 182 barrels for every million cubic feet of natural gas.
But all these numbers are likely to understate the water-to-oil and water-to-gas ratios, since some of the most important states, including Texas, did not report their production statistics in sufficient detail to compute ratios accurately.
Bid rising. We wanted shows and we got them. The main target is to come plus 2 lower targets.
@renroc Id give up, I have lol. It’s a waste of time trying to explain to some. Your better off saving your finger workout typing on here ;) and if the RNS comes that nothing found at lower intervals, we will see who has the experience and is proven right Totally agree, no way would anyone produce what we have (or don’t) alone
We wanted shows and we got them. The main target is to come plus 2 lower targets.
Simple question for you?? Lets take it that nothing is found in the rest of the drill..Do you believe that on the basis of that rns this morning that they will take the chance and raise the money to prove that result up on low range commercial and make it a producer or plug and abandon..????
This will be bloody brilliant if any of the rest of the drill hits oil. Still wouldn't hold any pre-results though. No point at this SP.
Morally wrong that anyone should try and suggest that the rns was positive for shareholders it wasn't it was awful and realistically the odds of this drill being a commercial success have been significantly slashed. This will be a duster or non commercial either way this is not an investment now it's a gamble it's not even red or black time it's more like put your chips on 0 and hope for the best....
So they haven't had the chance to sell yet then...
Shows at this level increases the chance of greater lower down. We wanted shows and we got them here.