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Got my top up. Buys flying in.
How would we know? They are still sleeping!
This is the RNS. 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 3 more zones to come including the main target Nanushuk 4
they found an interval they were interested in and it proved not commercial so now they are drilling on to next target around the 6000ft, thats how i read it.
So why didn’t they write that?
cos must have increased??? There are simply no words for that ramping drivel..
I’m not quite sure what you are getting at, I have read the rns properly and the wording states it is commercial, albeit on the lower end of commerciabikity, that is my point have I missed something?
The rns of any company has to be approved by the company's nomad..It's there job to make sure that all market information is released based solely on the information the company have..
This isn't RMP's first rodeo when it comes to releasing poor drilling rns,i've suffered a few so they knew how the market would take it but couldn't get anything other past the nomad based on the results..
Of course they have a bit more freedom on Twitter but I always take the rns simply because it's the only part that's regulated..
THAT READS "NON COMMERCIAL" WHAT EVER WAY YOU SPIN ITS IT IS NON COMMERCIAL
END OF RMP SIMPLE
further analysis. seems many have already made their own conclusions
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
Main rarget and lower zones COS must have increased having commercially viable shows in N5. Lower end yes but it’s not the main target. 3 more zones to go.
COS of the lower zones must have increased having lower end commercially viable shows here.
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.
Why is the rmp twitter sounding so positive? It does technically read a commercial discovery so is this just herrendous wording in the rns? Either way I wouldn’t sell at these prices.
was that itkillick drill on the edge of slope and we would drill in the centre.
The fact that there was oil shows in Seabee in Itkillick and none at Winx is concerning.
Nanushuk was supposed to be the big find, it hasnt.
Torok will be difficult.
Regardless this well had to be drilled.
It looks like it hasnt worked out.
Warned me on twitter and told me to short this company.
But i not in the short business
it's pointless Spike..People just want to take the best case scenario and I know how that feels..He pushes the boundary's of the rns because he wants a swing trade...But I challenge anybody here who has a wealth of experience in the process of oil exploration from the 2d 3d geology,spud,drillinjg,wire logging,testing and proving up who believes that on that result alone they will go for proving that formation up...I doubt anybody can.!!!
The rest is still in play but that part is over...
Turns to s....
Drilling c 4500ft degsy. Where are you getting 6000ft?
Degsy we all know that it WILL NOT be produced on that QUALITY and low grade commercial. The cost/risk v revenue reward is pointless. Wake up mate
They are drilling to 6000 ft
Yes lower end but these shows are commercial. The main target is next followed by Torok. The only place without shows so far is Seabee which had a question mark over it anyway.
@minermate At least someone sees it lol! And very poor quality Can’t see why people think we are suddenly finding a mass oil reservoir in the last 500ft (roll of the eyes) RMP have this drill only, a failure here means zilch hence 50% off mcap
Still suspended on ASX?