Nice6 Mar 2019 21:41
Arktik1970 Hot copper
With regard to the WINX, it is premature to be euphoric. But I have moved my personal meter from somewhat optimistic to very optimistic.
And I agree 100% with the prospectivity of the GOM wells drilled, drilling, and to be drilled. The GOM justifies today's PPS and then some (my opinion, of course). The WINX is gravy on top of the GOM meat and potatoes. If positive results emerge from both the GOM and the WINX, my substantial (substantial for me) acquistion of an equity position in OEL last week will prove to have been prescient. Risky? Yes. Rewarding? The odds are looking better with each PR.
When I have more time, I will post some information about the Nanushuk "topset" play. I've been studying the Grandstand Formation (a portion of the Nanushuk sedimentation) since 2001. I've known about its prospectivity for almost two decades based upon the USGS data in the public domain. Bill Armstrong had the vision, intelligence, guts, and risk capital to explore the Nanushuk near the Beaufort Shelf in what is now called the Pikka Unit. The Willow wells (ConocoPhillips) further to the west are also Nanushuk discoveries. In any case, the Nanushuk has been recently touted as the world's new "super basin." I tend to agree. Interestingly, high quality oil in the Granstand formation was first identified at the Umiat Oil Field by the US Navy (Husky was the drilling contractor) between 1946 and 1953. Although recoverable reserves may be much smaller, the results from the original 11 shallow wells drilled at Umiat suggest ~one billion barrels of OIP in that field alone. The rest is history.
Of course, none of this is stated to suggest that the WINX will or won't be a commercial success. But based on "nearology", we all have good reason to be optimistic. The WINX is in oil country. Here's hoping.
https://hotcopper.com.au/threads/ann-winx-1-drilling-update.4665053/#post-37680097
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