RE: The Chosen One6 Nov 2022 16:56
The trolls have ramped up efforts this weekend panicking trying to suppress information by talking a load of bull…Here’s another repost of Jiddy’s post from Friday showing a reply from Art(CEO) to a question they asked, as it might’ve got lost in the noise, which is what the trolls have been trying to achieve. I chose this thread as illusion done a great post in this one which some might’ve missed so read that also if you haven’t had the chance.
Don’t be surprised if they come out again to remind us for the 1000th time to tell us we’re all doomed once this is posted…all you have to ask yourself is why would someone post negatively on here everyday of the week if they’re invested…they wouldn’t…GLA holders and DYOR :)
Jiddy123
?“The easy answer to your question is yes we can meet the target to commence drilling in January if we kick things off with a JV partner in November. There is though more to consider as to the timing.
The January timing was based on a timelines set by the BLM of the Dept of the Interior who want the drilling complete by March. We are, and have been seeking an extension to this based on our most recent Ryder Scott reserves report which we feel will satisfy the BLM.
Second, our discovery well intersected oil in three Formations: the Frontier 1, Frontier 2 and Dakota extending known oil accumulations reserves and resources at our Cole Creek Unit to the west to extend over a large area to our Barron Flats Unit to the east. This is what caught the attention of the large oil company that approached us.
At Cole Creek, which is an anticlinal structure, the Dakota and Frontier 2 produces oil and the Company carries proved and probable reserves for both formations. Completions were never attempted in the Frontier 1 at Cole Creek due to industry protocols of doing completions from the bottom up hence the production from the Dakota which is the oldest and the deepest. Oil production from the Frontier 2 was developed 11-13 years ago. Our Atomic affiliate bought all of these interests in 2016-17.
?We have known for some time that the Frontier 1 at Cole Creek is thick and oil bearing. We have examined the old Dakota Wells to recomplete them in the Frontier 1 as many exhibited strong oil shows while drilling. Unfortunately cementing practices of the time were primitive thus there is little to no cement behind the casing in these Wells across the Frontier 1 and 2 making a completion attempt difficult if not impossible.
Post our acquisition of Atomic we could not lay our hands on the complete files for the Frontier 2 Wells drilled c. 2010-11. We have though found them in storage misfiled in boxes, as is apparent from the remaining engineer carried over from Atomic that they were never looked at as they thought they were either lost or never transmitted at the time.”
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