Member Info for theiceberg

You need to look at the volume. The volume here is tiny, so it’s not because people are negative. However buy volume is even lower so it hasn’t attracted any new buyers. They are waiting for the actual flow results imo.

Very well done and well held...I sold mine at 1.6-1.7 so holding this long was a brave move, but worked !
They are drilling off 2D and their geological model is none too accurate if they have misjudged the zone by 500ft.
A total gamble with very limited upside from the current mcap imo.

Light oil isnt condensate. Light oil is light oil. They've got a sample so they know it's light oil.

I much prefer complicated testing with high pressure and light oil flowing to elevated oil shows but no sample and SFA.

Time is seriously limited would they really waste time getting the pressure down and putting production flow equip down a hole, if they didn't think it was going to be good?

If they were not sure they would have sealed the side drill and tested the zones in the main hole.

Other than high pressure, slightly different equip and a few extra days I can't see anything that is bad here...and high pressure isn't bad, it's a nice problem.

're fracking.
It's got quite a a few meanings and brings it all kinds of thoughts. Mostly of the big shale fracking where they crack for several kms pumping in million of litres of liquid etc.
But nearly all oil wells are fracked but not like above, a simply test frack, in a standalone zone. It would be strange if they didnt. They've been fracking like this for half a century.

If - as per the RNS, they were putting the test equip down yesterday afternoon out time...it's certainly possibly we will get news later today or tomorrow.
It's unfortunate that the higher pressure lead , presumably to a delay by requiring additional equipment, but does increase the chance of it flowing freely..
No mention of water.
Samples of high quality oil
High pressure, all in just the lowest success zone.

It's under subsequent events...

Blimey a small 15ft section and the light 40-45 Api oil is just trying to leap from the hole....

It's not 90% or 50%...it probably isn't black or white as oil drills rarely are.
It's a flow test pure and simple...
The question is what will flow and how much will it flow.

It could be anything 're length of testing. There is no way we can know of even guess tbh.
I.e 24 hr and 48 hr pressure build up. 1 hr flow or 24 hr production flow? Maybe both and lots inbetween.
Maybe they had so much oil they needed a second tanker to contain it. :)
Maybe they had lots of water and needed to drain it off..
But you would have though a bad test would be easily seen and then released at 4.30
I am trying hard not to pump this like the BS your getting on 88e.

I've been going back through the rns's and I can't find a flow test that has taken this length of time before...yes there has been 8 days between rns's but that incs plugged the previous layer and then readying the testing layer.
In this one, we've already laid the perforated liner, so its just pure testing and cleaning up.
Six days now and counting.

Have we really got so much oil it's taken more than 5 days to flow test????

It's the touch of death when Dave starts talking about LWD like that, it's his signal to get the F out.

what spare time?, they are still testing the first zone from the side drill.
After that they have all the additional oil bearing zones in the main drill.
After that they need to get the hole ready for reuse at a later stage.

A quick look at the Ensemble weather forecasts, and temps are between -12 and -20 C for the next two week at least. So barely enough time to test the rest of the hole and get the rig out.

I am going on the fact that the last successful flow test on panr took 5 days to report.

My guess would be. Clean And prepare the well - pump out the pressure fluid etc Tuesday into wed. Shut it in for 24-48 hrs then various choke production tests from Thursday -friday..So by this now (first light on the North slope) they will be optimising any flow, or cursing and shouting at a slow flow of oil and water.
They will have wireline monitoring continuous, so if the shut in doesn't show the pressure, or resistivity tests show water they would abandon it. So water has to be a lowish probability now.

I don’t really have much of an opinion. I don’t really plan for Africa to have anything to do with BR
I am not a fan of the Africa projects but happy to be proved wrong, if they contribute money then great,if not it doesn’t matter. They don’t really cost much time and effort.

Highest volume Since the drill was finished all ready for monday.

At least the last trading day...

Surely it's inconceivable that they won't release an RNS on Monday morning..unless they have A LOT of production testing.
So only any other 4 and a bit hours...

It doesn't get more clean than that despite what somebody tried to say a few days ago.
"The Company made the decision to postpone the webinar to ensure that testing and analysis of the Talitha #A well has been fully completed prior to the webinar to enable a more informative presentation. Weather conditions on the Alaska North Slope remain cold and the Company intends to make full use of the remaining drilling season."

're ramping let alone over ramping, tbh I've never seen a drill tArgeting hundreds of millions of barrels of oil, having drilled, perforated and then 3 days into a flow test, ever received such a lack of ramping. (I know this is a ramp) :)

it's wonderfully, frighteningly, fantastic! I brought more today as I simply can't see them testing for 3 days if there isn't anything to test and the clock is ticking with many things to do....