The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Just to say, the 18K "sell" today was my buy. I don't post much as I am a bit tongue tied by constraints elsewhere. I've been a constant holder since the 60p+ days though I've traded the peaks and bought the troughs. I have a great deal of faith in the asset[s]. Keep the faith, Howards a gud'un. - GeoChem.
I give credit where it is due, and there was one aspect of your post, your reference to redrilling at the sweet spot which was correct.... but even a broken clock is right twice a day. I don't like. approve of or even find palatable ramping. Your posts are in general, evidently that. This is a high risk AIM play, anyone who invests here should only do so with money they can afford to largely do without. You should understand that only about 10% of SEY is in the hands of small PI's. Because of the massive quantities of stock held by the investment institutions which is illiquid small PI's do not really affect the SP. Trying to tempt ordinary folk into 'punting' their savings into this on claims of massive returns is niave and likely to damage peoples lives. A number of people who posted on here occasionally have fallen silent recently.... I think that has a lot to do with not wanting to get associated with the blatant RA-RA - ramping. I have been reticent to post - anything - because of this. This may well work out as an investment, I've been invested here since late 2008. It also, may not, and the SP would be slightly lower than it is right now. Please, consider your posts and your actions, we don't live in a jungle. If you look at what has happened with GKP, with WZR [after a 9K BBl/d DST], the market does not like the KRG right now. SEY is very unlikely to leap up in price like GKP did - yes, on a find it would gain, but not a ten-bagger. I see that gains on shares are well below what I was seeing 1 year ago, six months ago..... right now, the market is shot to heck, it's going to take several months to get things back to fair valuations - you may well be marooned in SEY, I am in a few shares - thats the way the market goes. I sincerely wish you the best of luck with your investments but please don't try to ramp, it's futile, pointless, counter-productive and damaging. With reference to your earlier post, to misquote... "I think we're going to need a bigger rig [boat]"... remaining hopefully optimistic - IMHO/DYOR - GeoChem... think I'll keep my head down for a while. Best to all.
FineNance, answering your question is complex and I do not have enough information to give certainty based on the RNS. The issue centres on the fact that this was an open-hole test - these are rubbish. SEY tried to test a 852m section, thats about 3000 feet of formation[s]. The fact that this beast generated consistent flow of 7,300 BBl/d of heavy-ish water [Formation water contains lots of salts and is very heavy] with 4.6 MMSCF/d of gas is pretty impressive. With open-hole testing, there is no casing to isolate separate sections so everything down there flows into the wellbore [below the inflatable packer.... the 852 metre section] so the gas zone COULD be entirely separate to the water zone, it could even be the case that the H2S is coming from another discrete zone. The 24% H2S is a bit of a nightmare though. Being SEY, they [we] did not even get lucky with the PLT which would have pinned all this down. But, presuming there is a discrete dry gas zone down there, yes the reserves here plus any above would be added together and could be cumulative. If the pressure regimes are similar they could be comingled in a producing well BUT this is unlikely given the depths. You cannot open a LP zone with a HP zone open as you can get cross-flow and the LP zone will just be backed out of production by the HP zone flow from below. What you do here is deplete the HP zone and then open the LP zones later to extend plateau production. So, yes the reserves are all added together if these upper zones test. There was a lot of discussion relating to this almost a year ago. The close-watchers were aware that SEY were running out of casing sizes, this lower section was always heading for being a geological probe rather than a definitive drilling operation. It is an indication that there is a wee beastie down there that we got the flow and WHP we did, 8K/day high density water + 5MilScuffs is impressive with 470psi WHP. All of this goes back to the seismic interpretation which I made several cryptic posts on to Graceysdad about nine months ago. Their seismic interpretation was way off and SN-1 was drilled in the wrong location. They are downdip and in the water leg. I am sure they will now need to re-interpret all the original seismic, maybe reprocess, add in the data from SN-1 and find the sweet-spot.. [ Wow, Flawless has actually said one credible/sensible thing!!!!!!]. This saga is not over yet in my opinion, the sargelu and 100m of Kometan will be interesting... about six weeks time then [ all, read the RNS, 21 days per DST, x2.... ]. Looks like SEY will be a long haul. ALL of THIS, IMHO/DYOR , GLA - GeoChem
yes, errr.. well WZR or Western Zagros resources. Reported 6000BBl/d of 40API light sweet crude with 36/64th choke and over 3000psi wellhead pressure, a barn-burner as it's known.... SP ticking nicely. As I have stated before, I split my risk profile across SEY, WZR, VST & LFD. Obviously LFD is a bit of a porker but very cheap, VST has Niko resources for it's partner and a nice block, Qara Dagh [Black Mountain]... and SEY, soon we shall know. All the best to you and other LTH's - GeoChem, may our luck be akin to WZR's - they have had their share of troubles.... makes SN look like a smooth operation!!!!!!!
There you go amigo, told you it would be OK in the end... dont exit too soon - more to come. cheers all - geo
Nice thought but that version is too cheery.... found the Tom Robinson Band version but no film and it is not quite there too, there's the LAst Waltz version but Dylan is to "off" on that one... ah well. T-Bot - thanks for letting us know that we cannot look to you for any hope.. And LB, thats the root of it here... it's just gone on too long for most folks to ever believe we will see an end. The darkest hour is just before the dawn... I am holding through to the very end here but there is no doubt that it's been gruelling... anyone here who thinks this is a short hop to profit best be warned, SEY has more tricks than a Barra'load o'monkeys.... ATB - Geo
It's just a pity spoonflickers not here any more, he could have posted a youtube of Bob Dylans "I shall be released" for me... thats the anthem for today though....... http://www.youtube.com/watch?v=VT-SFgkVlno&feature=related Try this.... class. Cheers to all - Geo
Nice to see a couple of posters-of-old pop by again. Greetings to T-Bot & LB.... Message recieved and understood pal a ratther forlorn hope that there might be some intimation of an end in sight here but the house of pain runs on. This is not so bad as I at least know that VST/WZR and SEY are all in the same boat, a slow one with China involved somewhere.... well at least with SEY via Addax and their Chinese owners. There is too much ramping going on here but it's hard to refute the basis... at circa 60p the upside is 4-6x and the downside 50% loss at worst. As a gamble, it rounds off as a 10 to 1. But I am still waiting for any one of my three boats to come in, they are all May/June TD by the looks of it, SQ-1z any minute, QD-1 x any day and SN-1[v,p,g??] at some point in the next eon. It's a long view back to 2008 and a 6.3p buy-in, everything looked so rosy back then with the full-field development in place by now -- HaHa... how easily we are lead down the garden path just to find something nasty in the woodshed! Ah well, thats enough mixed metaphors for one day and seems to have vented the majority of frustration. Best to the LTH... hope this comes up smelling of roses for everyone - GeoChem.
T-Bot, any thoughts on the beer. There that old wizzer Ahmed, any idea what he's been on? I've been out walking Kara's Dog, what might be a nice beer for after that?? And then of course theres that Central scottish hostelry with a range of beers... any advice there on the on best tipple... or just stick to the Evian?? Missed our little chats on the Beer, drop a line sometime amigo. Cheers & bottoms-up - geo
Beat me to the draw! ATB - geo
Just spotted a 100,000 share buy go through at 1530ish.... been pretty steady buying most of today....... are we nearly there yet mummy????? GLA - Geo
Not sure of reliability here... D2KEZ's first post.... YOU WILL BE VERY VERY LUCKY IF YOU FOLLOW ME MATES..IF YOU READ MY POST EVERY WERE WILL SEE MY POST LED OTHERS TO MAKE MONEY..IM NOT LIKE OTHERS WRITE FOR PORPOSE ,I DO TO LET MY BROTHER KNOWS IM THE BEST..IM NEARLY 47 ,NEVER LIE ONCE TO LED POEPLE TO HILL...JUST WATCH THIS SHARE N WILL SEE .BUT IF U SEE ME SOME WERE ELS DONT FOLLOW ME..........REMEMBER WHAT I SAY PAL...GOOD LUCK FOR POEPLE DID So "if you see me somewhere else don't follow me" would seem to suggest our friend might be looking for a temporary spike. I suppose it's inevitable that with our situation resolving near at hand SEY will attract a range of varied holders with very different motives. ..... this will end, I hope well BUT nobody knows - SEY have done an outstanding job of running this tight-hole [that means secret in oilfield parlance].... best of luck to all LTH. - Geochem
Even I suspect there must be something behind this now, has now done 12p on the day. Best of Luck to all LTH... Geo
Any consolation, a year and a half invested for about a 20% loss for me, I think I am unlikely to be back for more on this one no matter how rosy the prospects. For those trapped, I don't see any options for the company but a take-over so there may be a PoG at the end of the rainbow if you hang-in. For me there is a bitter after-taste left and I think this goes on my s***list for never-again actions. I am not bitter, it has just been foul-luck for Stratic. When god hates you......... not a lot to be done. No idea what my Canada losses will be, I am at the back of a big queue.... think I will give up posting after this one. Take care all here, see you on the flipside. - Geo
take my losses and move on, otherwise, this will be a long hold. Sorry to all those caught out here, consenting adults at the end of the day but it looked like a potential winner for a while. TSX marking at 17c.... not looking good for me, need to decide if I take it on the chin there. BOL to all. - Geo
I thought everyone said we were not in Auction!!!
You must do what you feel is the right thing in your position, there is a tick on the SP which may suggest things are brewing to a conclusion. All the best with your holding, just hope[and can do little more] that this ends up a happy story, downside is minimal though I feel for you as you were in early, cannot see SP downside below 10-11p with other good news through. BofL... we all need it here! - Geo
This is typical Stratic, we have had no RNS info for months, then you get three out of the blue, days/hours apart... they would have a better profile if they just spaced them out, the financing MUST have been concluded at the start of this month or they would be in winding-up. That makes the RNS more intruiging, no mention of Syria, it's almost like a coded message that they cannot say anything about Syria. It's plain, that if they could have said anything about Syria, they would be obliged to, well is ~110 vs 80 planned days, holders would be due an explanation as to why this is over-budget/time, it is material to SP, I think it is clear that it is going to be significant to SP so they have to have conclusive facts. We may get something like "at TD and operations continuing" just to cover the missing info here, a silence continuing is a clear indication of an imminent RNS, just not sure what is going on though, have had to resort to tea-leaf reading.... IMHO/DYOR - geo
Mars, I would expect some trading here as they have just issued a good RNS which resolves one of the uncertainties with Stratic. For no trades, indicative selling or buying happening, this is very ... very strange. Is there anyone out there who can post to tell is if they have been able to buy OR is this lack of activity due to complete control by the MM's..... it is not of importance to me, I have concluded that I will sit on my hands and ride this through to a conclusion, the upside is potentially good and there is minimal downside with the news issued today. W Don will progress and the Water Injection issue seems to be improving, a new well and some exploration in the area, money issues fixed for three months and Syria yet to come. Can't see a big downside here now. - IMHO/DYOR - geo
Steelwatch posted this link, thanks steelwatch, there is further good news for W. Don as you read through. http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10352179 - Geo