Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
ARCO drilled the Itkillik River Unit No. 1 to 15,321 feet in 1972, attempting nine drill stem production tests and taking three conventional core samples from the well. The deepest of those tests — at an interval in the Kekiktuk formation between 14,510 and 14,726 feet — flowed at an estimated rate of 3,500 cubic feet per day over six hours. This was north of our drill location in our acreage inline but west of the stoney hill discovery. The winx well is to be drilled inline with horseshoe 1.2bb discovery. The odds we discover oil are high in my opinion it's the commercial viability which main question with this drill. Let's hope it's 26/26 come February. Nice movement today although on low volume Gla
At the moment due to lack of volume the disparity between the bid and ask is very large. It dropped on a sell worth 8p.
Hopefully we get a perfect storm and oil price rallies around spud so the early birds can derisk/top slice. The prospects look good for a strike, however as with anything its by no means a certainty.
Bishand, have you been burnt here in the past? you come across as someone that invested too much and can't let go, bitter to the end at the notion that new investors have potentially swooped in at the right moment to make a packet out of this share?
The patronising tone of your below message to Ojay also highlights an undercurrent of bitterness. Relax, invest or leave the board. Simple
Most are well aware a potential near term 50% loss of capital awaits. The reward is attractive therefore many are happy to accept that risk
Just looks to me like some investors are rethinking their levels of exposure to the downside and are panic selling. Still a 40-50% downside from 5p so some investors with £10,000's are still heavily exposed from what is appearing to be the same result as SL. Very similar movements. Hopefully the market has this wrong.
Fully agree with islandgirl a raise is incoming. Hopefully at between 4-5p range but I won't hold my breath, longer it sits around these levels the higher chance all momentum is killed and he raises at 2.5p or lower. Oilers producers and explorers getting hammered at the moment, however RMP holding up well, albeit with zero volume
Agreed. This is the time to be quietly accumulating pending permit news. Was never going to go up in a straight line. This will be 4/5p in the new year unless Bandy throws a spanner in the works and raises some cash!
Be good to hear some more knowledgeable posters take on whether Partially winterised Rig can be interpreted as Basic level?
The below refers to 3 levels starting at basic preparation to deal with Temperatures dipping to -15
https://www.norskoljeoggass.no/globalassets/dokumenter/drift/hms-utfordringer-i-nordomradene/risikostyring-og-design/11-1530-fossheim-dnv-os-a201.pdf
What can the partially winterised rig withstand? Temperature wise? As quite early on in November night temps are predicted to drop to -15+
I'd be interest to know as partially winterised doesn't exactly scream that it can withstand those sort of dips and if that the case the chances of rigging up, drilling and completing the well before end of October are slim to none.
The strange thing is that volume hasn't been there to indicate anyone knows (either way). Even today volume was pitiful. Thats why I've held as surely they have to say something tomorrow. Even if it's were still drilling.