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Penultimate paragraph.
But that’s the risk you take I suppose on AIM and with exploration. I wonder who’s buying those shares being dumped on ASX though.
Maybe different RNS for AIM.
Where in the RNS it says plugged and abandoned?
Further evaluation will be undertaken post drill to fully understand
the implications of the petrophysical results
Genuinely gutted for you guys.
I hope happyhols got rid of his 2m
Yes lol that’s what I mean!
Be a delist.
Genuinely gutted
Basically rmp have nothing 0.50p here we come
Anything can happen in the Aim casino.....
Cheers. Gutted.
Watch mass sell off, loads bought up cheap at mates rates and later in the week side track shows oil and back up. I can dream!
WINX-1 DRILLING UPDATE
? Comprehensive wireline logging program successfully completed at Winx-1, full petrophysical
analysis and review commenced
? Provisional petrophysical analysis ofthe wireline logging program indicates low oil saturations
in the primary Nanushuk Topset objectives; testing and fluid sampling indicates that reservoir
quality and fluid mobility at this location is insufficient to warrant production testing, despite
encouragement from oil shows and logging while drilling (LWD) data
? Zones ofinterest in the Torok formation, secondary objectives, were identified on wireline logs,
which similarly exhibited low oil saturations and did not flow hydrocarbons during the Modular
Formation Dynamics Test (MDT) pressure testing and fluid sampling program
Otto Energy Limited (ASX:OEL) (“Otto” or the “Company”) is pleased to provide the following update
on the drilling of the Winx-1 well in its Alaska Western Blocks.
Petrophysical interpretation of the LWD data at Winx-1 indicated elevated resistivities associated with
increased mud gas ratios (C1 – C5) in the distinctive Nanushuk Topset sequence comparable with
other successful neighbouring wells in the Nanushuk play fairway. Early indications were encouraging
and, on this basis, a comprehensive wireline program was undertaken to further evaluate the interval
of interest.
The wireline program was designed to fully evaluate and quantify the reservoir potential and
associated shows in the Nanushuk Topsets. The suite comprised specialist logging tools capable of
quantifying laminated pay zones, including nuclear magnetic resonance; a triaxial induction tool that
measures both horizontal and vertical resistivity, FMI (formation micro imager) and an MDT program
to determine pressure gradients and sample fluids from the zones of interest.
Provisional wireline results indicate low oil saturations in the Nanushuk Topsets not conducive to
successfully flowing the formation, as borne out by the MDT sampling results, which did not retrieve
hydrocarbon samples. Reservoir properties appear to be compromised by dispersed clay in the matrix
at Winx-1. This clay is often present in other successful Nanushuk wells but in discrete laminations
with decent quality, high resistivity, oil saturated sandstones in between. The dispersed clay in the
Nanushuk at Winx impacts both fluid mobility and oil saturations. The clay serves to bind much of the
fluid present in place so it cannot flow. It also occupies pore space within the formation, resulting in
a lower relative hydrocarbon saturation. This means that, whilst oil is present in the reservoir, there
is less of it and it is not mobile. Further evaluation will be undertaken post drill to fully understand
the implications of the petrophysical results.
The reservoir performance in the Torok Channel Sequence was better than the Nanushuk in the Winx1 well as evidenced by relatively faster influx of fluid during MDT sampling. On comp
Yes right at the end
There won't be a chance to get out first thing if the MM's let us. Mark my word, they'll take this straight down about 80% tomorrow.
Just my darn luck for something like this to happen to me again. I should have sold up last Wednesday when the SP shot up to just over 7p! But I was holding and felt confident in a further rise to 10p+. I was only aiming for 10p really. But alas it's bloody backfired badly.
Absolutely gutted for myself and other lth's.
Buying in huge amounts in asx??
Does it actually say they are plugging the well. I couldn’t see it anywhere. They say further evaluation, wonder if they will side track.
Might watch the carnage in the morning and see if there is anything better mid morning. Minus 70 percent will be a bit better than minus 80 percent.
It opened a lot lower, in reality from today’s close its a sight more than 70%!
Was 90‰
https://hotcopper.com.au/threads/ann-oel-winx-1-drilling-update.4672201/page-2
And I was knocked by them for waiting for results before Investing, this is why I wait and has served me well on oil stocks. Listening to some on this board going on about 100s of million barrels was crazy and reckless.
Hope you all make it back on other stocks .
No money, no drill, no assets. Where next Not even worth selling will be carnage on opening but I see no future for rmp? Guess we won’t be seeing the likes of desgsy here
Was sitting on tidy profits now that will instantly swing on open into heavy losses..!!! **** you DW and GB...!!! Scaaaasmmmmmm
Another duster. How can bands keep his job?