Member Info for 3standsoffbottom

General chat going on here https://hotcopper.com.au/asx/dnk/
Interestingly this share seems to be popular in Germany, I guess as it was (is) on the Frankfurt exchange. Not really appreciated here.

Yep I am aware of that story, as you say could all be BS or indeed machinations.
Interesting none the less, it really is potentially huge in my view.

Is this just about to breakout, finally....! Resources are on the up, this is a huge project. Been in this was 6 years, ever since a chance conversation on the ramp in Asmara. The fear was it was going to be taken out by the Chinese on the cheap, it now looks like someone piling in on the ASX.

I think he means he is worried we have found gas not oil and all that entails.

Thing is how much money did you have to put in to average down (no need to answer that). Would that money not be put to better use elsewhere? Worst case that money is now lost, middle case you sell at a loss, best case it's tied up doing nothing for the next few years, hand of God case another South Pars/North Dome by June. I don't know your situation so it's just an observation and my personal views. There is some interesting reading around the sunk cost fallacy.

Not really going to answer your question Rosie. In my view 'averaging down' is an over used and fundamentally flawed strategy. Not saying it is not useful at times. My personal view is if you are looking to invest more then choose another share, diversify your risk. Sometimes you have to take it an the chin, you (and I) are invested in a dog of a share with SOU. Throwing good money after bad I believe is the expression. Meanwhile I have been making money on SNG, ARB and PANR. SOU may come good, I am not holding my breath, if it does then it's going to be years not months.

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).