Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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"have every confidence that we will be able to flow this well" using a "VERY VERY LARGE COMPANY" very shortly. This is NOT a ramp. A ramp is using lies/false statements/rumours to get an sp to move up to sell into the subsequent rise. All the above is based on FACT, taken from the RNS,iii video and iii Q&A and i am not trying to get the sp up to sell. Its there for all to verify for yourself. If USOP, using this "VERY VERY LARGE COMPANY" clean out the blockage and "flow" the 150 feet+ of net pay, along with flow from the untested zones at 3,000-4,500 feet and some of the 26 "tight",possibly oil bearing zones, and combined with the incredibly low amount of shares in issue, maximum 5% Nevada royalties and "less than £3 uplift" (BM even said "cents" in one conversation) then USOP still has the potential to be one of the shares of the decade imho. Anyway, its time for bed. Looking forward to a pretty good few weeks ahead, especially after the "very very large" company is announced with the resumption of the work over programme and possible ADR listing. The excitement is going to build again, especially after BM making it public via that Q&A that "THEY HAVE LOTS OF OIL" ! Good luck all. 00 PS - Have summarised the key points of the RNS ,iii video interview and iii Q&A. ------------------------------------------------------------------------------------------------------------ USOP Q&A 16 NOV 12 http://www.iii.co.uk/articles/61003/vie ... il-and-gas "WE HAVE LOTS OF OIL"....."WE HAVE LOTS OF OIL"....."WE HAVE LOTS OF OIL" • From having "potential" oil bearing zones, we have proven productive zones, including a very large one. • We have every confidence that we will be able to flow this well • I won't predict a flow rate, but the signs are very good indeed. • We have a confirmed discovery, and it looks large • The potential of the productive zones is very large. • We know there is a water drive system here, and that was one of the important plus factors in this area. • Water is only a problem if there is no oil. We have lots of oil. • We have done remarkably well to confirm large oil-producing zones on our first drill. This is the first discovery in Nevada for decades. • We remain committed to drilling at least two wells and are still funded for those and the work-over programme. • Why did the company upload the US news video clip onto its website, despite knowing that the info was not accurate, as proven in Thursday's RNS that gives the timescales of the testing process? "The broadcast talks about possible large oil accumulations in Nevada. Our results are confirming that. So we don't see a problem there." • The priority at the time was to focus on drilling and tes
"WE HAVE LOTS OF OIL"....."WE HAVE LOTS OF OIL"....."WE HAVE LOTS OF OIL" ------------------------------------------------------------------------------------------------------------ USOP Video interview by III - 16 nOV 12 http://www.proactiveinvestors.co.uk/com ... ains-confi (VIDEO LINK) http://www.iii.co.uk/investment/detail? ... d=10191750 (VIDEO TEXT LINK) • we are happy to CONFIRM two zones that amount to a MINIMUM oil column of 150 feet. • We are quite excited. • we HAVE found oil bearing columns in EB1. • WE HAVEN'T GOT TO THE FLOW TESTING YET. • The fact is that we didn't even get to the opportunity to clear out the formation, clear the fluids and clear the paraffin and kerogene that blocks it because,don't forget, its been there for millions of years. So its a process that hasn't been finished. ITS FAR FROM A FAILURE. • The blockage is "an easy work around". • probably about 6 or 7 methodolgies that can be deployed to clear the route and allow the oil to flow. • I think the first thing we had to do was identify the pay zones,WHICH WE HAVE. • The gross pay zone is approx. 380 feet and what we are able to confirm is atleast 150 feet or more is an oil column. • We are focusing on returning to site this month, November. We don't see any problems with pursuing a November/early December work programme. • Its also true to say that some of the other 26 zones which we have desribed as "tight zones" doesn't mean that those 26 zones don't contain oil, what it means is the zones are so tight and water is less viscous so flows better than oil. • We have the funds in place to complete Eblana 1...what we will do is have a look and assess the funds that are still available for atleast the first of the two second wells to follow. • The assessment of the alternative methods for completing the work-over will be complete by the end of this week. • What we are then going to do is talk with a VERY VERY LARGE COMPANY to bring them in to complete the work-over programme. ------------------------------------------------------------------------------------------------------------ 15 Nov 12 Eblana 1 Operational Update http://www.investegate.co.uk/u.s-oil-an ... 4512M7494/ • Of the 30 zones tested, twenty six were formation water (or dry & tight zones) with some traces of oil, WHILE TWO ZONES BROUGHT OIL TO THE SURFACE. (From the later video link ""tight zones" doesn't mean that those 26 zones don't contain oil, what it means is the zones are so tight and water is less viscous so flows better than oil"). • two zones with Gross Formation Thickness of 380 ft (min. 150 ft NPZ) with average effective porosity of 19% (total porosity of 22 - 24%) WERE CONFIRMED AS OIL BEARING ZONES. • an initial low flow rate through the tubing to the sur
an initial low flow rate through the tubing to the surface WAS achieved BUT was impeded by a high paraffin wax content and kerogene in the formation.(but is ""an easy work around" • The testing programme did not include potential zones from 3,000 to 4,500 feet. • Another two potential zones at shallower depths (above 4,500 feet) also remain to be tested. • Forest Garb & Associates, international petroleum consultants, have been asked to produce an updated CPR. • we have nevertheless succeeded in confirming our discovery • We are confident that, with an updated reservoir model and deploying further techniques, we will succeed in flowing the primary zones we have identified."