It depends what your average is to be honest anything above 10p and I shall not complain - I have not been in as long as some but been here this time since 2016 so not day trading! Last time in 2009/10 walked away very happy so let’s see!
Not sure if anyone picked up on it but the part paragraphs shown below to me are a definite positive to come out of SL.
"The hot shale response can be an indicator of very high organic content (and hence very good source potential) and this will be investigated as the presence of thick, rich source rocks will have a positive impact on de-risking the surrounding prospects in the Taats basin and the adjacent basins."
add to that
"The presence of thick shales and oil and gas shows in the well highlight the potential prospectivity of the Taats basin in which a number of other prospects and leads have been mapped."
Not trying to ramp but my point is simply a "duster" can have positive results which I think this one did. It will be interesting to see the development down the line regardless of the result of Takhi-1 (WH).
In case good morning all!
A few more days to hang in there then the results will be out.
Noticed with SL that the drilling finished on 25/09/18 and results were published 1/10/18. Based on that we may need to add 3 to 5 days after they reach TD until we get the results.
Guys - Assume everyone picked up on the issue of tender docs on 19/10/18. Submission dealine is 12 noon, 19th November 2018.
This is for the exploration wells in 2019.
FYI only apologies if I missed the posting about this. The plus to me is the tender closing date leaves plenty of time for review/clarifications, Board sign-off and Governmental approval and ultimately any permits needed/EP submissions.
The short answer is the best chnace of sucess are the "appraisal wells " being drilled next year - COS 50% to 75% depending on who you listen to. (technical COS).
Takhi-1 - (AKA Wild Horse -1) - has a technical COS of 20% and a Commercial COS of 9%. The first number is the Company view by the geologists/geophysicists and the second is the view of EDISON who did quite a detailed analysis which you can find on the web. Added to this Takhi-1 was mentioned by Wood Mackenzie as a well to watch. Normally their (woodMac's) sucess rate in calling wells to watch is around 40%. In addition this is the only onshore well they have suggested watching this year.
The general feel without ramping is that this could come in. Added to Woodmac's comments BG who were farmed in here commented to Mike Buck, CEO - this is the "must drill" well location.
All the above said to date thye have a 0/12 holes drilled. Partially due to bad technical work previously.
Personally I think this may come in but this is my opinion based on the above and a gut feel.
GLA and I would not put your last penny on it but it is worth a gamble as the rewards if they do find oil are significant.