Member Info for RatHole

Strachan Yesterday. Take Care At Dempsey, the partners intend to plough on, testing shallower zone-4 and then if that provides no joy, test the two or three shallow zones that correspond to known productive gas fields in the region. Sacgasco is also looking at the data it has to determine where better quality reservoir sections might be lurking within the structure. In a worst case scenario, StockAnalysis still believes that the company will have proven tight gas at depth and should be able to establish commercial gas flows from overlying shallow (�conventional field�) zones that would likely see the companies involved recoup their original $5 million capital investment from gas sales over several years. The Tulainyo well is more problematic as both appraisal partners are massively undercapitalised. Raven Energy (REL) may have run out of investors willing to back this very binomial opportunity and it may not recover to regain a listing. Pancon wants to drill deeper at Tulainyo, looking to test a known thick gas bearing zone at depth, but without a partner able to fund that dream, further progress might prove to be too much risk. Pancontinental may prefer to wait on results from its offshore Namibian drilling in Q4 �18 before deciding on further Californian gas adventures. After professionally executed drilling programmes that delivered less than stellar results, StockAnalysis thinks that the whole Californian dream is looking very tarnished. Stocks involved are likely to fall further once the impact of these tests sinks in. Unless Dempsey can surprise with a multi million cubic foot per day gas flow result over the coming month, the outlook is less than stellar.

"Stocks involved are likely to fall further once the impact of these tests sinks in" EME is running on fumes, dilution a certainty - not best timing for placing you would surely agree? Take Care

Oz analyst, formerly a fan, paints a dim picture, possibly leading to the massive dump in last 30mins of asx trading? After professionally executed drilling programmes that delivered less than stellar results, StockAnalysis thinks that the whole Californian dream is looking very tarnished. Stocks involved are likely to fall further once the impact of these tests sinks in. Unless Dempsey can surprise with a multi million cubic foot per day gas flow result over the coming month, the outlook is less than stellar.

Yes, and CNOOC elected to 'drop' the block EME picked up, why would they do that? Ever seen a benevolent communist? I think not. But just as CRC Californias largest driller agreed to 'humour' some daft Ozzies, CNOOC has done the same, upside? Yes, but can only be via the drillbit - sound familiar? Take Care

KOE, the price will go DOWN after the next China update, whenever that is, simple reason, too much expectation, just refer your posts for evidence, smarties do not buy hot air, more than once anyway. I have told you way back I have operated in these areas and attempted farmouts it is not easy but believe what you like and GL with that, nothing is impossible- just be careful what you wish for ol son. Take Care

My dear old thing, you have to 'take the market with you' AIM management 101, who will believe anything now China, Indo or otherwise after the massive losses visited upon you and your kind? Placing is minutes away but who will line up, and at what price, once bitten as they say. This could have been played better do you not think? Take Care

KOE, as we approach 10p on massive volume I understand your angst but play the ball not the man please. Why not crunch the numbers? You may yet make a correct predictive post instead of the 'co-mingled' nonsense you write every day including 'This will Fly on next Dempsey update' two days ago - do you read your own posts? Take Care

Tight yes, as advertised last August. Do you think the largest producer in the valley CRC did not consider fraccing when they walked away from Tulainyo-1? Same geology and geophysics. I really shake my head at some of the comments here, and to think you geniuses punt these 100:1 shots without stop losses in place, you deserve to lose. Take Care

Trouble is, no one believes these guys and their 'modern technology' solutions, they talked a big game. Placing required all round now and cash will be very hard to come by after the bumblings of Dempsey and now Tulainyo2. There was always good reason the local oilers avoided this play.Very expensive rookie error to even attempt what they drilled, let alone ramp the bejesus out of it using such terms as 'World Class' '1TCF' and 'Largest Discovery in Decades' - all credibility shot ala RRL and MXP. Take Care

Cheap? I think not. This is what we were told on March 8th. ""Sacgasco estimates that Zone 3 has sands within it having significantly better porosity than exhibited by the tested Zone 2. The Zone 3 sands also have a strong seismic signature, with positive seismic attributes interpreted to reflect better reservoir continuity and extent. Other as yet untested zones of gas saturated reservoirs, separate from the overlying field-level reservoirs, exist above Zone 3 and may also be tested. Sales of natural gas being produced from Dempsey 1-15 will continue until Zone 3 testing work begins this month."" To me this means the 'best' zones have now been tested, Zone 3 being the area of most likely commercial flow - well it flowed about the same as the much maligned Zone 2. The Forbes will flow modesty at best. Overall certainly not anything like the 'Barn Burner' that was indicated. 1TCF has become at best 1BCF imho. Question marks also over Alvares now with the poor result at T2. Not a great day - all partners very low on cash and market cred - this can only go lower, sorry KOE. Take Care

There were multiple flashing light warnings from 25p down - you chose to ignore these - fair enough - but dont come crying now Bear Bear

Good quartion didso! I oft wondered why they did not raise capital at 15p plus, fully knowing the costs would blow out. Perhaps we now know why, they simply did not believe their own bluster? I pointed to formation damage and tight structures during drilling - the SP was 25p or so - got howled and hissed at by all and sundry including those claiming to be industry techies like Coopgare. What a disgrace. How long til sub 10p? Take Care

Be careful what you wish for. The market is telegraphing the result. I hope some learn a lesson from this - what chance? Take Care

Coopgare, please re read my posts, I clearly said 'the geology is the same, therefore the result will be the same' . And it is - sub commercial - perm being the problem - she's tight , as every roughneck knows. Now will you be good enough to explain how EME can book a rig for China drill on tick? Far too much nonsense ramping here from bag holders here - case in point is the hapless Kalahari. Thanks in Advance

Poro might be 'better' but without the Perm you will stay hungry, any rough neck knows this, even the much 'misunderstood' Coopgare will concede this, hence only the likes of Fiasco and EME chase these parked cars. Cruel but fair. Take Care

This is NOT a fashion contest Gazza, it is about making money, surely? How you going on that front? Care to point to a predictive post of yours that has even vaguely been proving correct? I think not. Take Care

Look, the geology is the same, why would the result be different? The market is doing you a favor atm, you just cannot see it. Oh well. Take Care

Fiasco look set to trade sub 7c overnight to new 12 month lows. This must be telling you something chaps, no? The only barometer of success is always the SP. Take Care

Contracting a Rig?? LOL, with what, bottle caps? IOUs? This will be a USD40m poke a least, free carrying CNOC for 50% no less, and you are 'disappointed you have heard nothing' whilst claiming to work in the industry? Just like Dempsey - Enjoy the silence. Taks Care

You may be correct KOE but perhaps you might consider what happened to the 'initial flow'? Farted out in our language but hold your dreams Take Care