Member Info for dai2belts

@Skippysb01. I see why you compared the Merlin 2 and Hickory updates..
Merlin's update does not seem to mention hydrocarbon indications from the electronic logging tools(LWD) as does Hickory

Reading suggests the logging results mentioned for Hickory are a common combination, ??

Merlin2
https://www.lse.co.uk/rns/88E/merlin-2-well-reaches-total-depth-updhu34w007puuj.html

Hickory
https://www.lse.co.uk/rns/88E/hickory-1-operations-update-yisia1wl82zpi9l.html

bed bug time ?
lol

cheers :)

88e, Merlin2 RNS logging while drilling(LWD)......no mention logs indicating hydrocarbons, only cuttings and gas in mud ???

Initial observations of LWD logs and drill cuttings collected throughout the drilling operations revealed target intervals are thicker than those encountered in Merlin-1 as anticipated pre-drill, with oil shows noted under white light in the three target Nanushuk reservoirs. Fluorescence has also been observed in numerous samples when placed under an ultraviolet light, an indication of oil presence. Additionally, when solvent was applied to the fluorescing samples, "moderately fast" to "immediate and blooming" "cuts" were noted, the speed of which is often a proxy for sample permeability.

Finally, significant mud gas peaks were detected across all target sequences in the Nanushuk, with marked increases in the heavier carbon compounds (C2-C5) observed in each.

Hickory...
==========
The presence of hydrocarbons was evidenced by fluorescence under ultraviolet light in cuttings samples. Reservoir permeability was also indicated by "immediate and streaming" blue-white "cuts" when solvent was applied. Elevated C3-C5 mud gas readings were observed >>>>>as well as high resistivity signatures and crossover of neutron density curves, providing further indications of potential hydrocarbon pay.<<<<<<<

======================================
The Hickory update mentions 2 of these logs....

A common combination of logging measurements includes gamma ray, resistivity, and neutron and density porosity combined on one toolstring.

https://www.slb.com/-/media/images/insights/oilfield-review/pdf-03149-02-hi-res.ashx?h=636&w=800&la=en&hash=BB119A9FB05BAEF9BB2F7266EE487A89

................. ........................
Missed a lot today, typical, when not on the ball it ll happens..

QFI, interims, big list of jam tomorrow, some the jam must be getting moldy ..
Lucky I sold those shares, option to buy back cheaper now,
£2.6M in bank end of year, that won't last long with £230k monthly burn.
Also they had £1m production costs in 2022, and £0.7m 2021..plus about £0.6m administration costs..
So say june/july raise ??

Morocco now Expected, April ??

New Name and ticker code QED
https://www.lse.co.uk/SharePrice.asp?shareprice=QED&share=Quadrise

Found some techy stuff, on the extra bit in the RNS,,
.............. high resistivity signatures and crossover of neutron density curves, providing further indications of potential hydrocarbon pay."

So I guess 4 indications of Hydrocarbons while drilling

Fluorescence under ultraviolet
Elevated mud gas readings
Resistivity log
Crossover of neutron density curves(I guess its the log shown below?)

Middle track shows high resistivity log indicating Hydrocarbons, low resistivity brine
Right hand shows the cross over, the difference in width indicating, gas, oil or brine
Combined they seem to eliminate brine

https://www.slb.com/-/media/images/insights/oilfield-review/pdf-03149-02-hi-res.ashx?h=636&w=800&la=en&hash=BB119A9FB05BAEF9BB2F7266EE487A89

https://www.slb.com/resource-library/oilfield-review/defining-series/defining-logging

https://nextinvestors.com/articles/potential-hydrocarbon-pay-more-results-expected-in-next-2-weeks/

....................................................
Keep an eye on 88e....
two trading days for pump and out..
two days to leak what the high resistivity, and "cross over indicates", maybe "The Butterfly Effect in Oil and Gas"

29-Mar-23 15:29:54 0.514 117,315 Buy* 0.45 0.55 603.00 O buy
29-Mar-23 15:25:13 0.509 982,318 Buy* 0.45 0.55 5,000 O buys

29-Mar-23 >15:19:25< >0.50< 16,236,666 Unknown* 0.45 0.55 81.18k O <<<<< previous sell at 0.4922<<
29-Mar-23 15:19:07 0.545 5,000,000 Buy* 0.45 0.55 27.25k O>>>> over paid buy, puts doubt on 16m buy?

29-Mar-23 15:17:02 0.509 198,232 Buy* 0.45 0.55 1,009 O buy
29-Mar-23 15:16:17 0.509 28,397 Buy* 0.45 0.55 144.54 O buy
29-Mar-23 >15:15:59< >0.4922< 87,948 Sell* 0.45 0.55 432.88 <<<<<<<< previous sell<<

If 16m was a worked buy, previous spread Ask was 0.5 ~25 min earlier, ?
If 16m was a sell, then bid should drop, but increased on next spread change, ~20 min later
Within that 20 min only a further 3.9m(buys) volume so MM will not have cleared 12m sells,?
But I guess more than 1 MM

Should have bought PRD, when I was looking at it thinking it gives so often, +7p today..

@Skippy, butterflies...

@Skippy, there is a significant difference in those two paragraphs you have posted, there is extra in todays update ..

...........................................
Mmmmmm.....
Elevated C3-C5 mud gas readings were observed as well as high resistivity signatures and >>>crossover of neutron density curves<<<<<< , providing further indications of potential hydrocarbon pay.

at 1m 55s, the curves cross indicating gas in this video...
https://www.youtube.com/watch?v=7PwK0yIhuBA

........................................................
@KeVR, i dont know, it must be me, jinx........
If I had 5m shares you'd be fooooked if thinking I was taking the lowest price of the day, its ikely to rise off the low..
But keep seeing large trades hitting the lows..
Maybe with that money to throw around, its affordable for them...
Just has me thinking its being worked down, for max upside....

But that update, just has no rampyness to it.
.almost like, just another drill, got some logs , might be something

Last few days for the herd to arrive before Monday make or break

...................................................
still big sellers on the new lows too, you would think they would sell on the bounce,
29-Mar-23 14:44:27 0.49 5,175,584 Sell* 0.45 0.55 25.36k

..............................................
looks like 88e is sell on news too
Seeing as next update can be no better than this mornings update, and almost 0.5 to sell now, ......
Then the last update will be, at best Net Pay Zones to be flow tested...

Can only speculate SMD was good enough, to make the decision not to test the last target

"Given the results in the primary SMD targets, and to preserve borehole condition (in-line with previous commentary around well execution strategy), the decision has been made to TD after drilling through the secondary SFS and BFF reservoir targets but prior to the smaller and lower priority tertiary Kuparuk (KUP) reservoir target."

KUP is smaller? , Maybe name play.. never intended to dril,

ConocoPhillips, The Kuparuk River Oil Field, or Kuparuk, located in North Slope Borough, Alaska, United States, is the second largest oil field in North America by area....

PANR, calling KUP a seconary target..
https://www.pantheonresources.com/about-pantheon/projects/talitha

....................................................
looks like the game is changing on these spuds..
Just logged in today, not expecting anything, and RNS has landed....
Interesting the increase in yesterdays selling volume, as it mimics the share price reaction today..
End of day price was upped significantly with £60 of buys, while buys were very likely 0.525 as sells were 0.517
Not sure why last trade is not chart

https://invst.ly/-npw3

28-Mar-23 16:36:33 0.525 1,500,000 Unknown* 0.5 0.55 7,875 O
28-Mar-23 16:35:10 0.551 9,999 Buy* 0.5 0.55 55.09 UT <<<<<<<<<<<
28-Mar-23 16:35:00 0.55 1,000 Buy* 0.5 0.55 5.5 O <<<<<<<<<<<<<<<<
28-Mar-23 16:29:48 0.5264 500,000 Buy* 0.5 0.55 2,632 O

Chart shows a rise this morning, probably sold into, profit for those who bought yesterday, maybe thoughts of breaking even/cutting losses with option to buy back cheaper.
Then a pause to while potential buyers wait for a lower price as you do, but in come the sellers..

But going 1st 5 minutes trades, its difficult to see a progressive fall in price
On increased volumes I thought spread normally tightens, but initially its large and varying, almost sporadic
MM not offering much, wide spread, and more willing sellers on an RNS that contained no bad news

2023-03-29T07:04:28.457 0.54 100,000
2023-03-29T07:03:53.883 0.55 23,606================== 0.55
2023-03-29T07:03:33.847 0.536 1,000,000>>> using 3m sell, recent spread should be a buy but 0.55 makes a sell
2023-03-29T07:03:28.830 0.525 3,000,000>>>>>>>>>> 3m, significantly lower than the 0.536 sell..
2023-03-29T07:03:28.103 0.536 1,500,000>>>>>>>>>
2023-03-29T07:03:12.160 0.536 101,271
2023-03-29T07:03:03.803 0.536 45,113
2023-03-29T07:02:40.207 0.549 2,731,156===========0.55
2023-03-29T07:02:35.433 0.549 400,000

2023-03-29T07:02:32.783 0.517 333,248 >>>>>>> way low
2023-03-29T07:02:26.220 0.55 170,000===================0.55
2023-03-29T07:02:26.073 0.55 416,455
2023-03-29T07:02:13.983 0.55 353,100
2023-03-29T07:01:44.720 0.55 1,000,000
2023-03-29T07:01:29.637 0.559 80,000

EU. not the brightest..
Dull enough to think Russian energy and NATO forces is a well balanced approach..
Are'nt the EU the guys fighting inflation but creating more and more green taxes..

Not sure its a life line, but more the EU waking up.

All EV, Imagine each night how many households will be charging, not all together but you have maybe the husband's car or van, wife's car, and teenagers car...

And for those who struggle to, or can't park outside their own homes, especially where parking restrictions are imposed, EV charging is not practical..

Winter time, increased demand on the grid, already an issue.
At the moment there is a need to reduce demand not increase it
Household energy costs increased far more than diesel or petrol..

Each country probably has different challenges

Incentives to buy a home within walking distance of work place, both to buyer and seller....

........................................
25% in an hour, thats something, I hope 88e does something like that this week..

I notice PRD and IOG are up a little..
88e is showing up today, but really is down as yesterday close you could sell at near end of day 0.538m, today 0.517.
They closed the price with UT, lol..
My estimate, good bit first
trades 116
buys 72
sells 44

Volume 63,034,717
Buys 14,812,935
sells 48,221,782

...........................................................................................
Mind games...this drill has 5 to 6 targets, 50-80% CoS, yet its below placing price..

Some thoughts, besides just holding or selling out....
as I think 88e your playing with the experienced traders with many game plans
Nobody ramping fundamentals or shouting hold, or saying they are buying.
Maybe the consecutive sells are the LTH following the lead, knowing the game..

When price is on a down trend, you could sell not so much for initial cash but to buy back lower,
that way you could hold the same amount of shares while leaving the difference in that bank..

I guess that reduces your losses as you took some cash..
Say sell 0.6, buy back 0.5 on 1M shares puts £1k back in your pocket, with same holding...
Plus saved you a full £2k loss from 0.7-0.5..and upside starts a lot lower than the previous 0.7, ..

Negative comments, like people in the know timed nicely with big sells spooks people, cheap entry/re-entry

With all the selling spooking me, there was still a 3M buy at 0.53 end of day...
I wonder if they sold higher betting on the price to drop below placing price..

Year low is 0.39, so a little over 20% downside from 0.53, for doubling potential, at 1.06p
Those who held from 0.7, to 0.56 will have already suffered a loss 20%, still have further downside, for only 50% at 1.06p

And if that 3m buyer sold the peak before placing, then at 0.8, then 0.75 after the dip, those shares maybe bought from profit.....

Too many games

Timing of the trades seconds apart, is questionable...

............................................................
Not sure why but another big sell appeared correct position in trades list but later , maybe just missed it..
So from a quiet day to a period of concentrated selling, initially seconds apart..

28-Mar-23 14:24:14 0.53 1,418,354
28-Mar-23 14:23:56 0.5296 4,157,286
28-Mar-23 14:23:17 0.5296 1,031,345
28-Mar-23 14:23:01 0.5296 2,869,519
28-Mar-23 14:22:47 0.5296 2,633,293

then followed by, likely sells on price
28-Mar-23 14:39:34 0.5256 4,300,000
28-Mar-23 14:36:03 0.5256 4,300,000
28-Mar-23 14:30:23 0.52911 3,000,000
28-Mar-23 14:24:14 0.5296 1,418,354