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Still a few misleading posts about suspension of drilling on 2nd Nov 2009. The realty was they only got delivery of the rig on 31st Oct that time and did not start any drill. No reason why WH cannot be close to TD by that date this time. I suppose we will still be reading similar posts right up to spud.
It’s been mentioned before but drilling SL kept MATDs interests in the block safe. This in turn protects the FOX prospect which may turn out to be the jewel in the crown. So maybe not a waste of money given the upside potential of Fox.
The same rig to be used. Same crew also. Less than 300 miles to new site. Geology is promising. Size of potential oil is huge. Community relations have been on site. Company have re-iterated it’s happening only days ago. Potential for a farm in if it’s looking good. Comparatively low cost drill. Shallow target. RNS reminded how it’s been a much anticipated drill. The weather won’t be closing in till completion is done. Surely the trucks will be on the road soon. Remember the song... we got a great big convoy ain’t she a beautiful sight! GLA
Agree that this is a gamble and the important thing is to commit the right amount at the “odds” on offer. I was in for all three frontier drills for high reward and like the fact that xx offers a bit of a safety net. I will continue to hold and hope as I especially like the look of Fox and Wild Horse has that large potential. Not really bothered about the “told you so” merchants as I’m sticking with my plan and the odds haven’t decreased in such proportion compared to my entry price and targets. I do think too many seem to be revelling in others’ losses though. Licking a small wound today like many wildcats out in the wild are doing. Snow Leopards are notoriously coy at showing themselves indeed! Wild Horses are easier tamed.
Wild Horse is 300km away from SL. Snow Leopard will not go on forever or we will soon poke the earth’s core. There is plenty of time left to mobilise and drill a 35 day well, over twice as long as it takes in fact. The company has stated it has community relations in the Wild Horse area preparing the way. Not something you would do and then walk away for 6 months. At the AGM the company cannot update on SL without releasing to the market first. It can however restate Wild Horse details it has already given and if this is done or if an RNS drops tomorrow morning then why not trust it will happen. One way or another it must be announced within the next couple of weeks which still leaves two months of drilling time for WH. GLA on both drills.
So predictable that leading up to Wild Horse spud the negativity gets ramped up and we’ve probably only seen the tip of the iceberg so far. There is of course one thing that will put “the Leopard among the pigeons” GLA
Personally I have always considered the COS on the whole drilling campaign to be that of the highest individual drill COS. I know it’s not mathematically correct but it puts things in perspective for me quite nicely and due to the drilling order will mean it never drops throughout the campaign. That’ll do for me. GLA.
A few on here already trying to dump SL so I thought I’d share my thoughts. We have six drills and I think most would agree the transformational ones are SL , WH and Fox. The XX drills are not to be discounted of course but I believe they deliver the safety net. So to suggest XX won’t happen is daft as it brings a route to market quickly, a strong farm in option and cash to explore further. Equally though the big multi bagger chances are in blocks 4 and 5. So to me it would seem the best option is to be in all three of these. My personal favourite is Fox and quite happy to wait for it. GLA.
I think what makes this campaign most appealing is the relevant reward attached to these probabilities. Usually for a low COS you would expect a high reward and vice versa. Let’s say 20% = 5 to 1 reward expectations 67% would then follow as 1.33 to 1. 79% would be 1.21 to 1 92% = 1.08 to 1. I think everyone would agree that the above rules would go out the window in a nice way should any commercial strike occur. Also it’s all very well trying to second guess entry points after each well but one thing was clear at the start of the campaign. Including mathematically. The best COS is to be in for the whole campaign. GLA hopefully patience will be rewarded.
Wouldn’t it be fun if WH spud was announced simultaneously with a SL strike and block XX contracts. I wasn’t expecting any news before now but there is the possibility that very positive SL progress could alter future plans so it makes sense not to rush other announcements. GLA