Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
This board is fairly mature, thanks for the decent responses. Alamo, you mention 5, can you provide the names of these companies as I'd like to do some research into them and try to establish how they are ahead etc.
Would they not potentially be bound by NDAs if the government are involved? Just a thought...
I'm happy with my investment here and the small decline in share price doesn't concern me. As stated a few times on this board and in the news it is only matter of time until the covid passports become compulsory and in my opinion this will be undertaken via an app on smart phones. As soon as positive news is released this will jump to new highs. Other companies in the mix I understand, however, ctea seem very well placed here. Good luck all
Just look back on the posting history of these people... the OP thought that 5.60p was achievable in March on a closing price of 2.94p... obviously sold out recently and wants back in cheaper. Just use the filter button
Always a good sign when you get derampers on a board trying to talk a share down. The main one we currently have here seems to be lost. Looking at their posting history, most of the shares they seem to be in are down. They have probably sold out and looking to recoup loses here at a lower entry. Best to ignore and/or filter as they are just looking for a lower entry point.
This share has great potential and this and the coming weeks could be great for all who hold.
GLA
potential of these zones.
Several samples were taken in zones interpreted to be less prospective on the way out of the hole, all
of which contained low saturations of hydrocarbons, which will now be sent to a laboratory for testing.
The presence of hydrocarbons in these zones is considered encouraging for regional prospectivity but
does not constitute a discovery due to the low saturation levels.
is now too late in the season to initiate flow testing operations and the forward program will consist
of plugging the well. The well may be re-entered in the future, if warranted, in order to drill a side track
and conduct a flow test.
Additional information related to Merlin-1:
Merlin-1 is located in the NPR-A region of the North Slope of Alaska with the following co-ordinates
X:196695 Y: 5666711 Zone 4 NAD 27. 88 Energy has a 50% working interest in the well and is
Operator. The well was spud on 10th March 2021 and was drilled to a Total Depth of 5,267’. Multiple
prospective pay zones in sandstone reservoir between depths of 3,400’ and 5,100’ have been
identified; however, more analysis of the data is required to determine gross and net pay. Fluids
recovered via downhole sampling will now be sent to a laboratory to determine hydrocarbon
saturation, phase and constituents; they, however, are deemed to be mostly comprised of water. Note:
the two most prospective zones in the Merlin-1 well were not able to be sampled due to operational
issues.
Managing Director, David Wall, commented: “Despite the operational issues that prevented obtaining
a hydrocarbon sample from the two most prospective zones, the results from the Merlin-1 well are
very encouraging for the potential at Project Peregrine.
We appreciate that these early results may be difficult to interpret. That is because we do not yet have
all the data required to allow interpretation. This means some uncertainty remains; however, it is
already clear that Merlin-1 has delivered by far the best outcome of any of the 5 wells drilled by 88
Energy in Alaska over the last 6 years.
Particularly encouraging is the apparent presence of oil in a zone that has not previously been targeted
in NPR-A. Whilst the potential volumetric size of this zone is not yet known (as it was not a mapped
target in Merlin-1) the formation could be extensive based on initial interpretation. The other most
prospective zone with good shows and petrophysical characteristics is shared with the Harrier
Prospect and will likely high grade that for drilling in 2022.
88 Energy Limited ("88 Energy" or the “Company", ASX:88E, AIM:88E, OTC:EEENF) is pleased to
provide the following update related to its operations in the NPR-A region of the North Slope of Alaska.
Highlights
• Initial petrophysical interpretation indicates several potential pay zones in Merlin-1
• New prospective horizon identified at Project Peregrine
• Operational issues prevent hydrocarbon samples from two most prospective zones
Details
The first run of the wireline program included a standard triple combination log with nuclear magnetic
resonance (“NMR”). These tools are designed to identify potential reservoir and resistivity (elevated
resistivity is an indication of hydrocarbon saturation) as well as provide an estimate of the mobility of
the fluid present. Multiple prospective zones were identified, consistent with the shows and logs
obtained whilst drilling, and the NMR tool indicated good mobility across most of these zones.
The second run of the program was designed to take samples across these zones. Initial observations
indicated the presence of an oil signature in the fluid using an optical fingerprint sensor in the downhole
sampling tool, after communication was established with the reservoir in the deepest zone of interest.
Slugging of hydrocarbon and water then occurred, which is often a precursor to hydrocarbon flow from
the reservoir, however; a power outage due to equipment failure necessitated pulling out of the hole
for repairs prior to any sample being obtained. After repairs were completed, the run back in hole
encountered several sticky sections, indicating poor hole condition so a clean out run was undertaken.
Re-entry with the sampling tool was then executed to move to the lowest zone for testing but good
communication was not able to be re-established with the reservoir despite observation of a similar
hydrocarbon signature on the optical fingerprint sensor. The time the hole had been open and
consequent potential formation damage may have contributed to this issue.
A decision was made to move to the next shallowest prospective zone, which had exhibited good oil
shows and petrophysical characteristics, but wellbore condition issues prevented a test as the tool
became stuck. The tool was freed but the risk of returning to that zone was deemed too high.
Not being able to sample these two most prospective zones does not preclude a discovery; however,
analysis of sidewall cores and potentially further drilling may be required for confirmation.
Significantly, one of these zones is considered to be a new prospective horizon within the Nanushuk
Formation that may be wholly within the Project Peregrine acreage and was not one of the pre-drill
targets. The other zone is interpreted to be shared with one of the zones in the Harrier prospect, to
the north of Merlin. Further work, integrating the results from logging with the seismic, is required to
map / re-map the volumetric
Was waiting for 4p to slice my initial investment off. Plenty left in still but after 5 years I am so happy to get it back and leave the rest in free carry to see where this goes. I wish everyone the very best, what a bloody journey!!! Bring it home for us Dave!!!
Absolutely Alcoops, however, the thing that bugs me is when a poster states something that simply isn't true (if you read the subject of the original post). Where has 'within 2-3 days' come from? It's just untrue, it helps to stick to facts and what we know or people that don't read the announcements can get itchy feet for no reason :)
Logging while drilling and mudlogging will provide initial indications as to the prospectivity of the well during this part of the operation, which is expected take three to five days. A sophisticated wireline logging suite will then be run, including sidewall cores and downhole sampling. Wireline logging is expected to take five to seven days.
Just from the RNS.... would hate for people to start moaning and crying because they expect news in your 2-3 days...
I along with many of the long term holders in here have been here a few times over the last 5/6 years. I've felt the ups and the downs on this share, the lack of sleeping due to excitement, watching asx into the night, setting my alarm for 3am, the feeling of it being an absolute nailed on success due to getting carried away with listening to the rampers (who are no longer here), only to be shot down when news is released. Inexperienced and lessons learnt.
All I will say to those who are going through all of these emotions right now is please keep your feet firmly on the ground. It is so easy to get carried away with comments on here like 'this is a guaranteed success' or 'surely we are going to hit oil'... well those who have been here for years all thought the same previously and look what happened... We wear the scars from that.
Profit is profit, don't forget that. I really do hope that this time we are all rewarded and it certainly seems a little different with comments like that from DW but we won't know until that news lands. It's a 50/50 for me, unfortunately my faith went a while ago.
Final advice, do not get sucked in by those who are ramping the hell out of this, you can see them a mile away. Make your own decisions, do your own research and stick to it! The company will hopefully do the rest. Good luck to all.