RE: Conventional Vs unconventional4 Dec 2018 09:25
topofoz yes I (and family) are very well, hope same for you, questions about what we can see with 3D today are very interesting, for some its a chance to create doubt and spit out a bit of rubbish, for me its a chance to remind myself of what we have been told by the company and previous research in wiki. seismic inversion only looked at this this morning. very interesting and understandable if you have time. stay appy
But we have a bit more than 3D to work with, historic well data also supports possibility of oil, remember if following the aapg risk calculation method then a rating of .7 against each factor gives 25% COS, so no surprise really.
Think DW must have been very surprised that someone else bid for lease as it is only 1920 acres and remote. Other bidder had bid on another unrelated lease package, opportunistic or an irritant who knows. Min bid on Acreage $25 so both bidders had factored in a little extra and it seems the same amount, I believe this situation is very rare and we will not know until 3rd January, 2019 who is the winner.