RE: We need Bo & DM3 Dec 2024 11:03
B.B fwiw I hope for your sake that Rudyard is at least commercial. In any case there should be a turnaround in SP once there is some news and FWIW, I believe there is a good chance of success. There are a couple of realities to consider for your thoughts though.
The gas in mud readings are most likely derived from the cuttings - which obviously come from the formation rock - so that's a good thing. But, the amount of gas being released from cuttings is not the same as the gas that will be released from the formation. Treat the figures as proof of gas as opposed to how much.
The 'gross' prospective test interval is not what they will actually test. Nevertheless, it is at least a good starting point. If the Gross prospective interval was only a couple of metres, then the net interval might be just a couple of feet, but with 330 to start with, there is likely to be a minimum of 100ft worth testing. We don't know exactly what until they announce it, but to some extent it is almost a red herring as there are plenty of wells producing handsome oil or gas from narrow intervals.
If by chance they get a decent gas reading on site from the initial stimulation, then as Tiburn mentioned they are likely to tell us even though it will need further verification. I'm sure that the BOD are mindful that they need to deliver at least something positive asap which could therefore equate to another tweet over the next day or two. -- this is purely guesswork but not out of the question. They will test the relevant sections from the bottom up which could again mean that individually they may not be commercial but collectively they could be -- which unfortunately would equate to no news until they test the whole thing. -- nobody knows until they get what they get. when the fingers are depleted have a go at the toes.
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