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Wow, great drilling results,
We know how happy and impressed they were with Cas 2 and for comparison see below:
Cascadura-2 openhole logs and drilling data indicated a total sand thickness of approximately 525 feet in the targeted Herrera formation.
vs
The Cascadura-3ST1 delineation well was drilled to a total depth of 8,252 feet, and openhole logs and drilling data indicated a total sand thickness of approximately 900 feet in the targeted Herrera Formation.
In addition to that "the Cascadura-3ST1 well is the first to cross the C-fault to the east side of the structure, an area where reserves have not been previously assigned"!!
Oh and finally
"The CO-374 development well is also noteworthy, as it has the highest net pay we have observed to date on our crude oil legacy blocks."
Two oil wells at Coora is certainly not to be sniffed at.
Great news today.
Would be nice if can follow the pattern of last couple of days. Cas 3 results are very likely next week. PB said 1-2 weeks till TD, that was one week ago. Maybe last time to buy before the news today, with London shut Friday and Monday.
What do you mean by Cas 2 stabilization results? The next news from Cas 2 should be flow testing in q3.
Cas 3 will be the next result (and coora) and then we should hear if any plan to move straight onto Cas 4 or not.
I think everyone knows why and been discussed to death,
Royston...
Casc initial production rates not being met.
However, success at Cas 2, good progress on satellite for pipeline and B pad, Cas 3 result due soon, new choke on Cas ST1, perforations at cas deep. A lot of very near term triggers, then add on asset swap and bid round sign off.
Also rumour they will go straight to Cas 4 from Cas 3 now that would be excellent news...
Aligator - it was only the announcement of increased loan term agreement that resulted in SP recovering to 51p?????
That is completely wrong, the SP hasn't increased since that RNS and was this price pre the announcement of loan agreement, you're forgetting Cas 2????? That gave us the lift!
Cas 3 to hit TD by month end, hopefully a similar result to cas 2 :)
Uncle Doug - just saw your message from yesterday morning
Not sure how you've managed to link the analogy of buying a car to my message as makes no sense. I wouldn't have minded a drop in SP because I have no intent of selling my current shares and would have welcomed the opportunity to top up at a lower price (which i managed) so happy about that and absolutely nothing to do with buying a car that has depreciated.
Regarding your forecast of SP dropped it is now slightly higher since the results and not down as you told us it would be.
Doug- Could you quote the profit warning please and also regarding dividends they’ve had and have a very stable dividend record… another 5% increase this year :) but also do hope it drops this morning as wanting to buy some more