Member Info for tonynorstrom1

d2b - I’m currently sitting on a veranda in Port Owen, Western Cape - overlooking a lagoon and drinking a beer pondering the meaning of life.

Just went on the Walk Mcfishy suggested - it was great.

Will take a look at the video a little later and give you my thoughts - have a good weekend!

"CPR over rules that....mmm" - i'm not saying it does, but which figure is correct ?

d2b - they have not found the OWC. This is discussed in the CPR and is one of 3 primary uncertainties that this drill is trying to prove. The values used in the report for OWC are calculated

This one of the main differences between the Auditors resource calculations and i3e's - in the low case the Auditors have used 5130 ft whereas i3e have used 5270 ft in all cases.

Aimster - I would recommend you read the CPR for yourself - if you're like me, you will not understand the full report, but you should be able to understand big chunks of it and and have a good appreciation for what the issues are.

So to answer your question and in my opinion only - I don't think that they have to find any Oil in this drill to prove up a Commercial Field - they just need to prove that the OWC is somewhere between 5130 & 5270.

The main takeaway for me is that its not a certainty (IMO) and I think Simon Oddie is correct in saying that there is a better than 50% chance of success. He's gone and complicated things by saying that he " believes there is already a commercial development" which for me the two statements don't jive - after reading the CPR I tend to go with the 50/50. Hope this helps.

yes nice - a little bit earlier than usual. Used it to add another 223,000 shares in EOG - not a punt on EOG per se but on Serenity. Result should be less than 2 weeks away if previous drills are any indicator.

Also a duster is not necessarily a bust, if they prove the oil water contact is below 5270 ft then they should have a pretty decent small development

I'm not sure about that Aimster - 40ft is what SO says will prove up 197m STOIIP - so 40 ft is a home run.

The share price to me says that the market is a little nervous and they think a duster or poor result is a possibility.

dai2belts - are you one of the brave?

thanks Stas20.

Stas20,

Not a lot of buying at the moment - what's your read on the technicals ?

Are you in EOG Barnyards ?

there's obviously a little bit of impatience for results - maybe you should share your little training video on this BB.

actually I meant east of the Arc Resource Wells

https://boereport.com/2022/10/06/top-well-report-who-drilled-augusts-top-producing-wells/

Interesting article above - most of the top performing wells in August are in the Montney formation with production ranging from 900-1500 bopd (liquids only). i3e has two of these wells coming into production - 1 this month and the second is spud and should be on production in Q4. The wells are not exactly in the same location - i3e's are about 150 KM west of the Arc Resource Wells but are still in the same formation.

Note there is also a Clearwater Well on the list at over 800 bopd (all oil) drilled by Batex. i3e'e wells are not in the same area but still shows the potential of Clearwater if you stick a well in the right place.

Bottom line is that a side track is just a form of directional / horizontal drilling that can be done for a number of purposes:

1) by-passing a blockage or damage in the original well bore.
2) locating the target if the original well misses
3) Going down dip to further evaluate a discovery or indeed in other directions

all pretty important and potentially relevant to this well - mechanical side track refers to No 1 and obviously a geological side track to options 2 & 3

Question - why a side track in the success case? Usually its if they have a problem down hole and have to deviate the well or else they miss the target and side track to try and find it?

Good Post Jolly - I agree

I do hope that no one gets advance information and that we're on the same playing field at results. On at least 1 past drills - there were big volume spikes before the Release of an RNS suggesting that some were in the know.

Take a hike bunny - you add nothing .

I see. Thank you so much for your guidance, Mcfishy. So posting is a banned without your prior approval. Are there any other words that posters aren't allowed to use? Can I use the word 'use'? Can I use any words? Goodness, this censorship is complicated, isn't it? Since you're clearly mad as a box of frogs, I'll leave the bulletin board for you to police while I go to the pub tomorrow x

Mcfishy - that’s the second poster you’ve chased off this BB - what a nasty man!

An added curve ball is that a Q3 update will be due around the same time as Serenity results +/-. If the update on Canadian Production is as good as I think it will be - this could also move the needle.

I take it that you’re trying to figure out what a post drill SP might look like to determine whether to cash in a portion of your holding on results?