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I spent Friday looking at the share price going down and down.
I decided to review, like you, all the information I have from official sources including the Alaska Government, other oilers in Alaska and professors in Geology. They all made it very, very clear that there is OIL in WINX.
Now how much we will soon find out.
Even if there is not enough to warrant Red Emperor and the others to start from scratch Repsol, have already made the investment 4 kilometres away. The extra cash required to extend their reach in WINX would probably be less than what we have already spent.
If I am wrong then I have enough shares to make a serious dent, if correct then I will probably retire.
Is it worth the gamble, yes, because this type of chance is a once in a lifetime one!
Of course, we can have a duster, but you will never get a chance like this again in your lifetime.
BUT don’t use money you can’t afford to lose on any share or other dead cert scheme without spending time , and I mean a lot of time, making sure you not following a dream but putting your money on something that could actually make a return worth the upfront risk.
In my opinion this is one of those chances!
Timetoact....The Repsol factor was a massive green flag when I considered jumping in.... A possible buyer if the numbers add up?
I agree. Winx will need to be sold. None of the JV partners have the financial muscle to be taking this to production. All of Armstrong, Oil Search, Repsol and Conoco will be keeping an eye on Winx results. Conoco especially IMO. They have some of the Nanushuk play but they will feel they have missed out on the bulk of it. Conoco exec quoted as saying ' We ask our geologists every day how they didn't see what he (Armstrong) saw'. Also Conoco ran a large 3D seismic study over their more southerly NPR-A acres ( need to check that, npra is federal land, north slope is state land and all these are right near the border, not sure from memory which side of the border conoco's southerly leases are on) and the 3D extended a huge distance eastwards into Armstrong's acreage. So they were having a look at what Armstrong had. This was before the OSH deal was announced. I bet conoco were sick. Conoco have some decent acres in npra but not so much in the southerly part of the nanushuk trend on the north slope. They have a block a bit bigger than Winx just north west of us + the small meltwater play to the east that already has a pipeline and is in production. (meltwater is where we started our ice road from as they have a permanent gravel road) . So conoco could develop Winx most economically IMO with just an 11 mile pipeline. Though Winx would be attractive to any of our neighbours given that they will be working towards full field development over the next 3 years. Another 400m barrels for them helps with their economies of scale.
Great posting overnight and this morning people. On top of all the research the other factor we seriously have to weigh up is what if Conco and Repsol both want our WinX well and it meets or exceeds reserve estimates..!!! A bidding war could start and then you can kiss goodbye to 20p the SP would end up way north of that..!!! Exciting times folks.
Stop it imac1 ..... I'm getting way tonexcited now! ..... The bladder can't handle it.m;-0
Please stop the bidding war talk. We haven't even confirmed commercial oil yet and bids will not happen for months or years
Let's be honest we just don't know.
For all we know a major gave their information to show it's similar to what's been found already and are sitting with us as we wire log rubbing their hands with glee.
This week will show us what's happening behind the scenes and the picture does look good. Surrounded by oil....
timetoact
ive never seen a poster whose name so perfectly fits the scenario you describe in your post
time to act indeed
invest and win = retire
or set back a few years
mmmmmm
all in here = retire
I agree, we don't know as yet but FFS with all the disappointments we get with our investments, if we cant speculate and get excited when we are in this position then when can we???
Jof, you are dead right, been through all the RRL and RMP disappointments over the years, this is a refreshing change to actually be optimistic, next week is big
Great posting overnight and this morning people. On top of all the research the other factor we seriously have to weigh up is what if Conco and Repsol both want our WinX well and it meets or exceeds reserve estimates..!!! A bidding war could start and then you can kiss goodbye to 20p the SP would end up way north of that..!!! Exciting times folks.
Agreed iMac1. I suspect with the data they have so far and the fact they are sharing info they have hopes and expectations inline with ourselves and they’ll be more reassured than us nervous nellys lol