All to play for.22 Feb 2024 15:54
Planning activities to drill MOU-5 are progressing smoothly and we are encouraged by the preliminary results from the geochemical characterisation of the Jurassic section in MOU-4.
I think the timing of the second phase of testing will be, in an ideal world, dictated by this drill.
The analysis of gas collected from multiple levels whilst drilling MOU-3 is encouraging as it indicates gas from a biogenic origin with up to 99.57% methane content, which is ideally suited to a CNG development.
Seven gas samples collected in isotubes in MOU-3 whilst drilling at measured depths of 446, 508, 555, 750, 817, 846 and 1395 metres have now been analysed by Applied Petroleum Technology (UK) Ltd. ("APT") in their Oslo laboratory. Gas composition is in the range 98.04 to 99.57% methane, making it ideal for a Compressed Natural Gas development with minimum processing. Isotope analysis indicates the gas is biogenic in origin.
We did not test MOU-4. We only tested MOU-1 and 3. (Unless I missed something.) Interesting and many conclusions to be had.
We will test, using sand jetting, MOU-1,3,4 and 5.
The research and data still points to there being a massive amount of gas.
If so, then the only real issue is getting it into production. Finance is in place.
We still have the option to finish off MOU-2. Hopefully the mud problem is no longer an issue.
I'm not really sure on the time scale now. But we will want to test MOU-5 at the same times and who knows, even MOU-2
It's certainly a share to hold or invest in at this low price.
Just my own opinionπ