We would love to hear your thoughts about our site and services, please take our survey here.
From Advfn
"D1NGA9 Mar '24 - 11:31 - 16424 of 16464
0 0 0
Petersmith
Something for you to consider
The first 3 wells were dusters, what makes you think that the next 3 drills will produce anything?
Remember that they are now targeting cracks in the basement and not conventional porous permeable sandstone which they've proven have no sealing structure above to trap the gas (as I said would be the case months ago 😎)
IF the gas is free flowing as they state, how can you increase flow from basement, what magic pump are you referring to?
All they can do to stimulate flow is to further fracture the basement, whether that would be of benefit or not is also debatable.
She's been very canny with her words in her RNS just to keep gamblers and spivs interested in the stock, what is needed to know was the extent of the test at 4.7% well bhp prior to opening up , choke setting at maximum flow rate (what was that?, more information withheld) flowing bhp.
How quickly closed in bhp retained original shut in pressure after stopping flow.
This is very much still a theoretical play BUT its changed from a potentially big money earner (had the sandstone plays worked out) into a 'hope for the best' fractured basement play.
In essence its not worth the gamble anymore and only heading one way..."
Broke a cardinal rule never to invest in Australian mining companies, but was swept up in all hype
Should have followed the rule. The Hot Copper GRE message board sets out the typical gory detail.that one should have learned to expect