George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
That was the plan back in the Texas project 7 odd years ago. Jay was always clear about that, final pay day then retire to the ranch in Texas. I liked the simplicity, as I need to retire as well! It almost happened, I guess he (and I) are having another crack at it, sold at 3 to 4 quid a share will do just fine.
Well design is essentially a balancing act, maintaining enough hydrostatic head to keep the bore from collapsing and fluids from entering from the rock strata and fracturing the rock with to high a hydrostatic pressure with consequent loss of mud possibly at such a rate the pumps cant keep up, ending up with an empty hole.....we wont even go there!. In fact a little over pressure from the mud column is a good thing as it allows a cake to build up on the open hole wall. This is from the various additives added in the mudroom. I have unhappy memories of pouring crushed asbestos into the hoppers, touch wood no sign of asbestosis, as the mud fluid passes into the rock it leaves the solids behind, like a filter. An understanding of the pressures and porosity with depth dictates the casing points. Once a hole is cased it is generally considered secure, though poor cement jobs might dictate otherwise. Trying to control a long length of open hole with mud weight (adding heavy earth or barites) is problematic, hence casing.
This will all be based on previous drills in the area and industry standards, amended to actual conditions as required.
Not by me. I really hope they drill a hole through all zones, test then if needs be get into the horizontal stuff. The last thing we need is having to abandon all or part of the hole and start again within the weather window before we get to TD! I am sure directional drilling has come on leaps and bounds, the days of standing on the rotary table with a piece of chalk whilst running in the hole and dropping a spear down the pipe to then fish it out and look at a little paper target must be long gone.
But as you say, plug, cut through the casing and kick off, then worse case get stuck, run out of time, plug and abandon until next winter....... but with some positive results from the vertical hole in our back pocket.
Well I hope they keep it simple, straight drill, test and if there is time kick off and test where ever it is they want to look at with a horizontal drill. It can go awfully wrong.
Not sure it was down to the crew. They just do what they are told, the well design and the correct running of it are down to the drill engineer, mud engineer, pusher and company man. If i remember correctly it was collapsed casing after a long shut-in. There are reasons for the term 'oilfield trash' but probably from way back when, the drilling company Nabors has a good rep.
Wise move, you would have seen a 20% loss as you drove it off the show room floor. Never wrong to take profits in my view, as Confucius said "always leave something on the table for the next guy".
Not sure if anyone has said this..........seriously consider taking some profits! You will make your own decision, just be wary of that little green Goblin on your shoulder goes by the name of greed. How do I know this...............!
Well done by the way.
Not sure if anyone has said this..........seriously consider taking some profits! You will make your own decision, just be wary of that little green Goblin on your shoulder goes by the name of greed. How do I know this...............!
Well done by the way.
When we look back maybe last Friday will turn out to be the nadir, I sure hope so! Onwards and upwards
Nigoil I think to "hedge your bets" you would be buying PANR and selling 88E. Being a bit pedantic I know :)
Also it is worth pointing out if painting a rosy picture that this is at 11 on the 1-10 risk scale. You really need to be prepared to lose the lot.
So I think it worthwhile to listen to different opinions. It provides a counterpoint to our own views which left unchecked tend to get more and more emotionally based as we get wedded to the idea that ‘this is the one, I have a feeling in my gut etc etc, also tending to get deeper and deeper in the hole as we average down (bad idea, my view) to where this has to come good. We should always be re-evaluating and though hard to do due to the emotional bit, be prepared to pull the trigger and cut and run. FlyBe being an example at the moment before that GKP springs to mind. You can’t win them all. And just to state the bleeding obvious this is just a BB and the internet the Wild West of information, true and false.
Well he might be wrong, we could go to zero. But we have proved we can get to 180p plus, leave out the effects of buyers remorse say by 50% I don't see why we can't get close to a quid with good news.
To be fair we are not out of the woods yet. To be in this share you need to be prepared to lose your shirt. Personally I like the share as much for the known facts as the excitement of exploration. I have a spare shirt.
So back in the day we used to do drill stem tests. The drill pipe would be used by setting packers around the zone to be tested and the mud circulated out of the drill pipe to reduce hydrostatic head and allow hydro carbons (or water) to flow to the surface. To displace all the mud and use the whole of the casing annular would be inefficient and potentially dangerous. What they are using I do not know as the rig has been moved off the hole (I believe). I am guessing the test rig has some form of narrow tubing they run. I just worked on floaters and we stayed over the well until plugged and abandoned (usually).
Remember in the past Vision was the operator. Now we have had quite a change in personnel, who would also appear to have vested interests aligned with ours, at least for the moment due non voting element. Bit like a new POTUS, first 100 days will be interesting. Alaska will be thawing out then as well.
Danakali is Africa's answer to SSX by some magnitude. BMN is vanadium, everything else it is involved in is just a nice to have, maybe. I am invested heavily in all three, DYOR.
They were always going to wireline, given the companies enthusiasm for this project. Seismic is okay but no replacement for core samples and/or a tool inside the target, ahem.
1-2-3 days and we should have an idea I think. They will be analysing data real time. They also have tools, for example, that fire into the formation to take samples. They should know pretty quickly, hopefully onto testing. I have a lot of money riding on this, fortunately on a very low average, wish everyone luck.
Yes in my opinion running the 7” would be encouraging news. As you mention it may still not be commercial. Remember they will have drilled into the potential reservoir, if they like the look of it they will run the 7” with the intention of (trying) flow testing. TD = decision time. They may also take core samples for example of the target. AIMHO.
Testing string might be the drill (most likely) string. I have just read wot I wrote. Sounds like I am stating fact, just to be sure, just guess work and all my opinion. Oilfield trash from many years ago ;)
Actually a 7” column of hydrocarbons would be something to smile about, kept under control!
Testing string might be the drill (most likely) string