Member Info for cash2

What does increased logging while drilling resistivity mean ?

Highlights: Winx-1 • Primary Nanushuk targets (topsets) intersected between 4,667’ and 4,901’ o Elevated mud gas (C1-C5) associated with oil shows and increase in LWD (Logging While Drilling) resistivity recorded within interval o Initial interpretation encouraging based on comparison to data from nearby successful Nanushuk well • Previously reported Upper Nanushuk Formation interval (4,460’-4,530’) remains the subject of further analysis • The Torok Topset Sequence 4 (secondary target) was intersected at 6,052’ with elevated mud gas readings (C1-C5), oil shows and an increase in LWD resistivity recorded • On reaching Total Depth a comprehensive wireline logging program will be implemented to further evaluate all the Nanushuk / Torok zones of interest and determine whether to proceed with production testing Western Leases – Winx-1 Exploration Well The Winx-1 exploration well intersected the primary Nanushuk topset targets between 4,667’ and 4,901’. Elevated mud gas readings, oil shows and an increase in LWD resistivity were observed in multiple topset features within this primary target interval of the well. Data obtained by the Joint Venture from a nearby successful Nanushuk well has proven comparable to that observed in Winx-1 over the same topset features, providing early encouragement. These initial interpretations, whilst encouraging, should be treated with some caution as more data and analysis are required for validation. The previously reported (1st March 2019) interim results were related to an interval in the Nanushuk Formation above the primary target zone. This interval (4,460’-4,530’) remains the subject of further analysis to determine prospectivity. The well successfully intersected the top of the Torok Formation at 4913’. The Topset Sequence 4 sandstones (secondary target) were encountered at approximately 6052’. Elevated mud log gas readings (C1 – C5) associated with oil shows and an elevated LWD resistivity response were recorded during the drilling of this sequence. On reaching Total Depth, the forward plan is to run a comprehensive wireline logging program over the zones of interest. Subject to the results of this program the Joint Venture will decide whether to proceed to stimulate and test the most prospective of the Nanushuk primary targets. 88E Managing Director, Dave Wall, commented: “There are early signs of encouragement at multiple horizons in the Winx well; however, it is too early to say whether these will result in a commercial discovery at this stage as more data and analysis is required.

How do we know the zone of interest was not Seabee ? Cos the rns says zone of interest in nanushuk !

I’d be very surprised, that this time they fail given 26 out of 26 The rns to me reads we have not hit our primary targets yet but we have found low-end commercial oil in one the zones in nanushuk. So You do question the point of the rns. If it was an update, then fair point but clearly even 88e knew the market would take it badly. So despite all the deramping nothing is known.

How on earth do you get that from reading the RNS ??? seriously - if the area of interest was in the middle of the primary target, then the RNS would have said they have reached the primary target. The RNS stated a zone of interest. it did not say the targeted areas - 4 or 5. Strongly suggest you read again before posting your conclusions on the board

Not sure why Seabee is considered to be the one where oil was expected - there is no info that says that - there are two primary targets - 4 and 5. We are not there yet - RNS says clearly we have hit A TARGET - not 4 or 5. not seabee. SO the 25-35 % is about 4 and 5. We are still waiting.

Dr maccers They did also say they have targeted an area of nanushuk and received these results but not specified it was either 4 or 5. I strongly feel that had that been the case the rns would have mentioned it.

Thanks dr Maccers! I also saw the chart from 88e presentation - more of a graph but I agree with yr assessment Cheers

Tilburn They have mentioned they have drilled 4500 so far and hit a target in nanushuk. Where can you find info on the depth for nanushuk 4 and 5 ?

investing genius - rational comment - while everyone saying it's over ,it's not. The first part did not find oil - second did but unsure of quality - who can rule out third will ? No one knows - it could be none at all or they find - often you find overreactions - similar to JOG in Nov 2017. I think the sensible thing is to wait now since this is already down by 50% or maybe more by end of day - worth waiting till it is over.

It could still suspend here and I reckon it will if it for results

Most likely unless they release an rns as well requesting suspension. Different rules apply in oz. same happened with 88e and with another share before it was renamed bos . Can’t remember what it was called. Suspension in oz but not in the U.K.

Do u really think there is a 70% chance of failure with the other successful wells nearby. Maybe query how it was calculated ? Besides aaog’s djeno was 25 % but it struck oil !

Thanks for the answer office manager. It's good to know. Hopefully this relists as we all expect and does multibag. I am going with Bigmj's optimistic comments. He would not have invested heavily and be on the board unless he was in the know. Patience sometimes is just the best thing

This may have been posted before. SO apologies if I am repeating an old post

With the share certificates issued, I take it the name change to tally does not matter. Once relisted, we can use the LION certificates to start trading again ?

Yeah good point on matd - I forgot it was a wildcat ! Guess all to wish for here then . Thanks for the info

Two views: first Difficult to say that you could ignore the cos because other nearby wells have been successful. Would the cos not already take that into account Second and to be objective, aaog’s djeno was I think 25 % and they hit oil. They are now waiting for Better infrastructure to drill further. So I guess cos may just be an estimate after all

Thanks so if the cos is that low, then why the reference to the other 26 successful wells and the hype. Seems unrelated. Matd has their first drill- snow leopard 25 % and did not hit. So regardless of the other wells, this needs to look at objectively on its own merit I feel?

Anyone out there invested, isn’t the chance of success 25 to 35 %. Or have I missed something. That would be high risk and quite low

Isn’t the cos 25 - 35 % or am I wrong ?