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AJW - At the time the water cut of 78% was derided by certain parties on the board - as an example some people posted things like "Oh they are producing fizzy water with a bit of oil on top" Well as far as I am aware there are examples of water cuts up to 80% that are commercially viable (set aside the gas). So long as the long run cost of separation, water disposal, transport and storage do not outweigh the value of the oil - it can still be profitable. The fact that WR16aZ was being choked back to 3mm would limit the volumes being produced. We are all aware that they are trying to remedy the water ingress but it can be a very long process to establish stable flow rates. A well with a high water cut is not desirable but it can hopefully be improved and still produce at commercial quantity/quality over an extended time. As a side note the gas is rarely being mentioned - it has the potential to be the money maker here. As usual DYOR
Exactly CaptainStanley. People are free to sell up and move on, take profits, take losses or hold their shares long term. I am not swayed by the rabid rampers shouting "Buy, Buy, Buy" and neither am I swayed by the doom and gloom mongers shouting "Sell, Sell, Sell." Having made my own decision to hold long term I will have to live with the consequences. Its just a pity that there are a group of bitter and twisted former (or imaginary) shareholders who regularly pop up to sprout rubbish and try to misinform weak or inexperienced investors.
Yes I think there are those who ran off , there are those who traded on the rise and fall and there are those who have just held on. To give all the doubters something to think about here is a quote from Winston Churchill:
"Success is not final, failure is not fatal: it is the courage to continue that counts".
If the share, the company, the production level, the CEO and the BOD are all so crap - I fail to see why you are so desperate to buy in.? On a separate matter - can you tell me how long you think it would take for water ingress to increase from say 20% to 75% at WR16aZ .? I am really curious to know that - you seem to be implying that the water cut went from 20% to 75% in a very short period of time and that this was "withheld" by the company. Lastly, where do you get your information from.?
Hi Hepseal - As Groover says so long as its good news I will settle for anything they care to tell us about. WR16aZ has potential to really improve sentiment by implementing Block's stated strategy of isolating water ingress to lower the water cut. From a PR/IR point of view the sooner they report on it's progress the better. As you say there are lots of items to be reported on in the next few weeks................
Tony - it reminds me of the old line: "God give me patience ................. but hurry". This delayed gratification is 100% nerve shredding. From recent share sales (small volume) it looks like the lack of news has shaken out the weaker PI's who were expecting a sudden rise in the SP. I share your opinion - it will be a game-changer once news drops here.
Cautious11 - Since it is difficult to really know where your money is being invested and how products are really produced - (there is often no "end to end" traceability) then there is only one answer. Grow all your own food, produce all your own clothing and live by "barter" rather than by taking part in the capitalist system. However, walking around dressed like a third world reject, drinking home brew and smoking used tea leaves is not to everyone's taste.
Hi Greg - Interesting the two refurbished tanks I assume they will be used at WR 38z, WR51 sites as they are close together. The large grey tank at the extreme right hand side looks like the Gas seperator tank that had been in use at WR38z. Would that mean that the tank is in transit, at WR51 or is it an old picture .?
You lost me as an interested party when you did your "Mystic Meg" impersonation on the 29th of December (Quote)
"I can see it falling down well under four pence come sometime tomorrow; who knows at that price might be worth another punt? "
So yes - I don't believe a word you say. I will not bother filtering you though as it is always nice to have an eejit to laugh at.
No worries mate - I just didn't want to get mixed up with STD and his posting vibe. I went on RMG where he posts regularly - he looks about as welcome over there as a fart in a lift. He seems to have the knack of getting people's backs up. Why on earth he says he is (small scale) invested in here and yet spends his time bashing the stock I have no idea.
Bladey - I was pointing out that David Burton's piece on TMS had received 12 recs whereas STD had received ZERO recs from people on the board. If the "agitating people on the BB" was aimed at me it was wide of the mark - just like to make that clear.
Hi Sea7
I did some business with a Canadian company some years ago and they went bust owing me a large amount of money. They manufactured components for a product I was selling here in the UK. When I looked into taking legal action to recover some of my money it soon became apparent that it was a non-starter financially and would have potentially compounded my losses and potentially bankrupt me. It was rather worse than that because I then found out about a year later that a competitor of mine went to Canada, met the people winding up the company and purchased all of the stock (including mine) for literally peanuts............
You seem to be dragging stuff up from over 9 months ago and presenting it in a way that suggests this is all new information to people who have been watching the share and the shenanigans here. Luckily I do not suffer from Altzheimer's and can actually recall what happened. I can get by without the world and his wife getting on here bleating on about it ad nauseam - it is becoming extremely tiresome and boring.
Adjusted my filter settings as I thought maybe you were posting something that might actually be worth reading. Looks like it was not worth the effort. I seem to remember a nasty rumour going around that you were an intelligent, reasonable, sensible, and balanced person - however, I am happy to report that was just a pack of lies. Right that's that off my chest back to the mince pies.................................see you all after the festivities.