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We won't see any thing happen with ECHO for a long time and their next move will be share consolidation 100/1 and then raise new debt.

Still a bottom draw stock.

Mannnan,

Does that mean I'll be able to sell at 18p and get my dosh back?

The pie has been ordered ;- )

You mean bored. lol

Last night I got the feeling Casp had been approached and the delay in news was because of on going negotiations............then I woke up.

CC was obviously very excited with his early reporting on the 802 Deep Well flowing between 700-900 bopd for three days, which he did before the flow test had completed so I expect he will do the same if any of the deeper intervals are flowing too rather than waiting until the well has been fully completed – Carver was very excited in getting the news out sharpish so maybe we’ll get the same exuberance from him if any of the deeper intervals flow re early bird reporting.

News is imminent and as we’ve seen Carver has not committed to quarterly reporting.

The G50 and G70 rigs will next drill the A5 and A7 Deep Wells and then move on to re-drill the A6 and 801 Deep Wells with these two rigs so unless they but another rig they won't be drilling the 8 Block until sometime next year.

CC has previously said quarterly Op's RNS's would be the norm so could be a whopper RNS next week with so much pending news due.

Will next week be the week?

SmartyP1,

FYI.

‘’Work continues with Baker Hughes to stabilise the well. Once the well is completed it will be perforated with the prospect of potentially higher flow rates.’’

Like I said they will complete the well before perforating it and then release an RNS confirming good/ bad news, it's taking a lot longer than initially thought to complete the well, but this is good news imo as they must be testing 'something' with the length of time it's taking for an update, and it will take more time if all 4 deeper intervals are flowing.

Jimmyg1,

You do realize they have 215 employees needing a bed, they can't all fit in Carver's party pad. :-)

SmartyP1,

Could have done two sidetracks by now? (exactly, which is why I'm leaning to them drilling to TD and not doing another sidetrack). Baker Hughes would have had the well under control within a few more days and then cased it moving on to TD and imo are currently perforating/ flow testing each interval deeper down.

They had earlier problems for sure with the deep wells and getting through the salt layer on the 801 Deep Well, but they they have had no problems thus far with the 802 Deep Well (just getting the flow under control) and they drilled the A8 Deep Well to 5,000m TD with no problems. Everything (to me) is pointing to them drilling the well to TD.

I doubt they would have perforated the shallower interval (so I don't see a blockage there -yet) and will be at TD now perforating each interval as they move back up the well - once they start perforating these intervals that's when blockages could happen - so I doubt they've sidetracked the well from the flowing section, it doesn't take 3 months to get a well under control.

There are 5 deep wells to drill this year, I think the 802 Deep Well will be the practice makes perfect well and so far they're doing okay with no incidents.

Yep, let's hope they're not having problems with the well, they tried perforating the 801 Deep Well twice so you never know they could be having problems with blockages. Carver's quick RNS release confirming the well was tentatively flowing between 700-900 bopd and then no update since leaves some doubt they are drilling to TD, but like I said the longer there's no news the more likely they are drilling to TD - let's see.

If they have managed to control the well and continue drilling to TD then we will have a good chance of seeing if these deeper 4 intervals flow too as they did in the 801 Deep Well, bear in mind they were only around 400m from the next deeper interval and if they've drilled into these intervals they could be also trying to get the well under control deeper down to boot hence no news yet. I think they would have said by now if the well had been blocked etc..

''During the drilling of the side-track we encountered four potentially oil-bearing intervals. The first of 6 meters between 4,535 and 4,541 meters; the second is of 20 meters between 4,554 and 4,574 meters; the third is of 59 meters between 4,635 and 4,694 and the fourth is of 36 meters between 4,812 and 4,848 meters. Subsequently we perforated 75 meters of the intervals identified.''

Hopefully a gusher..........

The longer we wait for an update on the 802 Deep Well the better because it's more likely they have drilled down to the original 5,200m TD and are also perforating/ flow testing the potential 4 intervals deeper down as in the 801 Deep Well, which flowed oil to the surface.

The rest of the pending updates such as the A7 Deep Well spudding should have been announced - if indeed it has begun re-drilling along with the shallow wells.

Like every thing Carver says re timelines (Q1 for all of the above) add in a few months on to boot.

CC.

You do realize it will take them another 5 months from spud to re-drill down to TD on the A7 Deep Well, it's already taken over 4 months to drill down to 2,150m with another 3,000m still to drill.

The G70 rig purchase was due to be completed in January and that hasn't been confirmed yet and if the contract has been signed it's unlikely the A7 Deep Well wouldn't hit TD until July at the earliest to boot. IMO.

Ramp as much as you like but let's stick with the facts.

CC,

Why are you repeating what I've already said?

My thoughts are they are drilling down to 5,200m TD because of the length of time it's taking for news rather than they are doing another sidetrack, but this is still speculative until we get a RNS confirming.

You state stuff as fact like the A7 Deep Well is nearing TD? Where's the RNS to confirm this well has even started to be re-drilled?

From the 30 January RNS the below sentence does seem to confirm they are going to drill the well to the original 5,200m TD and then perforate the well from the bottom up which means if the well has the same 4 net-pay intervals deeper down as with the 801 Deep Well (a stones throw away as is the Russian well that had a BO) then we could have at least 5 intervals to perforate with the shallowest interval already producing between 700-900 bopd between 3,900m – 4,000m with another 100m to drill.

‘’Work continues with Baker Hughes to stabilise the well. Once the well is completed it will be perforated with the prospect of potentially higher flow rates.’’

A few weeks ago I had a nagging feeling the 802 Deep Well was having to do a another sidetrack due to no news (due to a stuck pipe/tool etc.), but because of the length of time it is taking I feel they have managed to control the well and carry on drilling to TD as it’s been nearly 3 months – so I’m guessing they have perforated these intervals and have started flow testing them, which could takes days to test each interval (at least 3 days flow testing the shallower interval) and if there are 1-5 intervals flowing then a couple of weeks?

They were drilling about 30m per day through this softer sandstone rock and were at 4,000m on 30 January with around 1,200m still to drill to TD, which would take them around 40 days to drill – add 15 days? for casing/ perforating etc. and we’re left with over 2 weeks for flow testing these intervals, so not far off now if they have drilled to TD.

The 801 Deep Well flowed oil to surface and that was from either 1 or all 4 of the deeper net-pay intervals before becoming blocked. So if they have the mud balance right like they did with the A8 Deep Well (drilled to 5,000m TD) there’s a strong possibility these 1-4 deeper net-pay intervals also flow, each interval is very thick.

So news can’t be far off and it could be what we’ve all been waiting to hear – it’s a massive gusher in the X,000’s of bopd.

I wonder if Baker Hughes drilled the A8 Deep Well ;- )

It doesn’t take 10 weeks to complete this well from the last RNS even with a new sidetrack of say 500m after being blocked.

Nope, I’m seriously thinking they’ve completed the well to the initial TD 4,300m and have carried on drilling through the four deeper net-pay intervals, if they are then by my calcs they should be at the original 5,300m TD now and preparing to perforate and flow test these other four net-pay intervals – hopefully they flow too, especially the 58m thick interval - if they do then hold on to your hat.

Why haven’t we been told the A7 Deep Well has resumed drilling with new G70 rig or at the very least the 155 Horizontal Shallow Well has spudded?

The excitement is building for sure – no damp squibs Mr. Carver.

ukred,

I'm moving the next RNS update to next Tuesday as I've just realized next Monday is a Bank Holiday and you're were trying to have me over ;-) so we'll all be rich on next Tuesday and not next Monday : - 0

ukred,

I don't like those odds 8,000,000/1 ;- )

If they’d drilled to the initial 4,300m and completed the cementing-casing-perforating and initial flow testing, and taking a month say (being generous) to do the work leaving 2 months to drill another 1,000m to the original TD drilling @ circ. 25m per day (they’ve been averaging 30m per day) that means they would have already hit TD and should be flow testing the deeper intervals – if that were the case then news should be imminent – next week?

Of course there’s always the possibility the well has become blocked after perforating it between 3,900m-4,100m and they’ve had to side track it – if that were the case again news should be imminent – next week?

So I’m betting Monday for news – as Bradley Walsh would say ‘’ gotta be an it’’.

The 802 Deep Well is definitely being sidetracked or drilling down to the original 5,200m TD as I can't see flow testing being the reason for the length of time it's taking for news.

If they have decided to carry on drilling down to 5,200m TD I'll be very happy as we'll find out if the 4 net-pay intervals are there as in the 801 Deep Well, and if they flow commercial quantities of oil as with the shallower interval(s) then boooomage time.

If they are sidetracking the well then news should be imminent as it shouldn't take circ. 3 months to sidetrack 400m-ish? In the next RNS we'll find out if they have/ will drill down to TD - hopefully the shallower interval(s) are flowing and it's not a rinse and repeat.

Carver should have the COO write the Operational Updates so there's no ambiguities. imo.

Talbot Sunbeam was my first car!

Some blonde crashed into me and wrote it off, a beautiful sunny a day and no cars about and she comes off a side road and wallop!

Will no doubt be looking at a convertible RR Dawn soon enough ;- )