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...based on a 30 day TD or 24 days on a 45 day TD.

But could it come in earlier than 30 days if drilling through a large oil/water target and not solid rock.

Wells tend to drill faster through targets and when nearer to TD.

In it to win it.

The reason for the sp drop is simple, originally we were lead to believe this well would be tested by now, but we now have to wait until year end.

If I'd have know that I wouldn't have bought in until now/later. 50% down due to beung mislead on ops.

I hope these two light oil zones flow.

In it to win it.

480mmbls OIP × 15% RF = 72mmbls recoverable.

72mmbls - 8% Royalty 66mmbls - 50% profit oil = 33mmbls * $30 per barrel?

$30 pb * 33,000,000 recoverable barrels = $990,000,000 * £0.70 = £693 million / 660m shares = £1.05 per share.

As more appaisal wells are drilled and production increases then the 15% RF will increase over the years ahead firming up the amount of oil (480mmbls OIP) through CPR's.

A rough guestimate and if we find oil to boot.

In it to win it.

Machanical Stimulation hasn't started yet then?

Yep, ALL eyes will be watching this well.

It could make a Country totally oil independent, how many oilers can say that, especially on AIM?

Massive well.

In it to win it.

A bit of PR never hurts, but focusing on the prize I reckon they will have entered through the first highlighted anomilie and will know if the (first) highlighted anomilie was water, gas or oil bearing etc.. Wouldn't want a PR photo on a duster hey :-)

If that photo of the CEO is a couple of days old then the timing could be related to successful drilling news re the CEO flying out there to do a bit of PR (not just a spud photo).

Anyway things are hotting up, and like I said I expect we'll see some upward share price movement next week as interest grows as we drill through these anomiles and nearer TD.

They originally said a 30 day TD, but it could surprise and come in earlier than that even with the wider 30-45 drill timeline they rejigged.

I'm guessing if no news on Monday re drilling depth/shows etc. then we'll get the first news after TD.

Come on!!

In it to win it.

Thanks IGEEK,

With this well being much shallower I'd guess they'll release a RNS after TD then?
I was hoping for news this coming Monday, if not, then perhaps news will be out re TD.

Potentially three gas caps to case, surely they would case each zone first? are they on the go slow and yet to case the first target?

So many questions and only 2 weeks to go
....chuckle.

Expecting a rise on nearing main target next week in any case, pun intended :-)

BTW.

SL was drilled much deeper to around 3,500m if I recall, does anyone remember if we were given news of depth/ casing on the way down to save me looking?

Thanks

Exactly, hense my question why have we had no casing news if we're at/ into the targets?

Just been looking at the WH block vicinity to the Chinese discoveries and how there's pretty much nothing drilled where we are, looking at the presentation map it looks very promising we could hit pay dirt.

Guts rumbling, must mean something other than hunger pains.

In it to win it...

Based on a 30 day drill we should be around the half way mark, approx 1,100m all going well.

However, if there are 3 targets shouldn't they be casing prior to drilling into that target?

If that's the case shouldn't we have had a RNS stating this?

Are we only just reaching the first target?

Is it a tight hole after all?

My thoughts too. Pity we don't know the thickness of these zones, would have been nice to know (I reckon both are in the double digits though).

If the in-flow testing is successful there may be no need for stimulation, therefore a result on any of these two zones we are testing could come well before year end? imo.

Today.....possibly.

Update next Monday?

Does anyone know what the depths of the three structures are?

700m
?
?

By my reckoning news next Monday.

If the well is commercial I reckon Shell will be in the data room by Januarys end and a deal done by April when drilling seasons back on.

In it to will in.

I understood they are still in the planning stage for this wells stimulation and stulation will take place in December (end?) and results would be in the NY depending how much fluid they pump in, 100k - 1m barrels 2-6 weeks to extract?

A couple of months to go yet, but at least we have other news due to prop up the share price in the meantime.

I reckon we're at a depth of around 600m-700m by now, hoping for some news by this time next week as we approach the half way mark.

GLA

S.

You asked if the office was still open.
This my take.

The Bahamas office imo will have may be three members of staff there including SP. SP's salary was slashed by approx. 67% (not near enough - I've banged on about his unjustified spectaculary high salary for years), because he hasn't much work to do and is probably working part time now, he'll be doing the odd meeting and waiting for 'that' letter, email, MQ call etc.. and the odd meeting.

Then they need another Director at HQ.

So the lights are on, but with a skeleton staff in both offices, especially with money in the bank running low. imo.

I fully understand the 'hope' factor here, been there done it, doing it.

A bit of realism though doesn't hurt, well sometimes.....

Geez! First it's the major are in negotiations and news is imminent, then it's the AGM is around the corner and I expect merger news beforehand (damp squib, then it's I expect news by November......or December and now it's I'm going ti wait until January ......or February before I ask the Company what's going on.

JimIknowSFA hasn't got a scoobi doo!

Hilarious hahahahaha

Please someone tell the major walked, BPC are looking for another major and the next bit of news (other than a partner) will be a cash raise news as the Company will, cough, are likely down to £1.5m-ish of which SP will no have about 15%+ of due for his salary...and then there's the staff to pay.