Member Info for Urraca

And I don't mean bagger

The opening paragraph says this:
"
In recent years, operators have produced large quantities of hydrocarbon from organic shale reservoirs. Horizontal drilling and multi-stage stimulations, targeting sections with superior reservoir and completion quality, have been proven as key to their development. Organic mudstones are fine-grained sedimentary rocks with total organic content above 1.5% that typically consist of complex mineralogy that may be heterogeneous at very small scales. Although numerous cores have been studied and described, there is no published mineralogy-based classification scheme for these rocks. This paper defines a methodology for creating a detailed mineralogy-based description for organic mudstones using core and geochemical log data."

This was written in Texas, and is based on various mudstones in the States. It's interesting, but we don't know if the Carboniferous mudstone we have encountered has a requisite level of organics in it.

http://www.searchanddiscovery.com/documents/2012/40951diaz/ndx_diaz.pdf

It is strange that the sp should collapse just as we are on the brink of possibly confirming all our expectations. And in advance of anyone knowing the outcome - the decline started well before we could have hit the payzone. And on the back of the very weird trading which Fellrunner talked about yesterday.

I've got a fair chunk in here, I'm underwater, so I may just be looking for reasons to underpin this, but it does look suspicious. If it is a duster, then I congratulate everyone who sold for protecting their capital. But, if it is a success, then I really feel for anyone who moght have been panicked into selling out, especially if at a loss.

I personally hope we are on the cusp of great things.

They've penetrated a reservoir and amplitude analysis is indicating that it makes Ghawar look like a tiddler.

Oh well, we can but hope. I have been drinking, of course.

Yes, even with poor oil price, $1.6m cash in hand, plus the $750kmodd saved by not paying the divi. Makes me wonder how the claimed working cap shortfall exactly equals the amount Kononov shelled out to secure control of the Sakhalin Port.

As for the accountants review, they're probably n a day rate, so I expect their report around this time next year. The Company could have used what they're paying them to pay a divi instead. I would say they make Theresa May look competent, but thats a bit too much of a stretch.

Maestro, I've been wondering who the large seller in the background is for the last eighteen months. As well as how the hell have they got any left?

I agree a respud after 4 weeks drilling would be bizarre. But stopping the drill halfway is also bizarre surely? They can't have got down to,payzone yet? But equimor are so skimpy with details its hard to know.

I thought I saw that too. Must book an appointment at Specsavers.

As I'm from South Wales, my immediate impression was that they must have struck coal. Lol.

Found this though.

https://www2.le.ac.uk/departments/geology/geoblog/at-the-end-of-my-phd-on-shale-gas-potential-of-the-uks-carboniferous-mudstones-by-sven-koenitzer

If the sp has collapsed because some people know the drill is a duster, before the company has updated the market, that is insider trading.

If the sp has collapsed because some people know the drill is a success, and want to panic PIs out of their holdings, that is market manipulation.

If the sp has collapsed because of general market nerves, and oil price weakness, then its just noise. But that doesn't seem to square with the general trand of trade data showing buys outweighing sells.

So, in conclusion, I havent got a fecking clue whats going on, so I'm going to sit tight and see what happens. I do have an image in my head though, of JP tied up in his executive chair, straining against his bonds to try and reach his device, saying 'Must....Tweet'.

Got to be due next week, surely.

It is annoying, but we are still going to get a lump sum payment of almost double our market cap. Next week.

Yes I agree Soundingoff, the trading data shows a clear trend of more buys than sells over the last couple of weeks. And that includes auto trades. Although auto trades appear to affect the sp far more than O trades.

I think I've got this right. On Monday 5 Nov, they announce they've drilled to 2nd casing point, and set the casing. They are not yet into the Tagi. On Tuesday 6 Nov the webcam is switched off so it doesn't inadvertently disclose price sensitive info. The share price commences its plunge. And has been going down ever since.

I just don't believe that the price has been going down because the results were known and info had leaked. It started going down before that could possibly be known. I do accept that later stages of the decline could have been because of that, but it seems to me more the result of a trading strategy. Given that reported trades have consistently shown more buys than sells as the price has gone down, I can only conclude that there is a large seller in the background. Although not necessarily subject to reporting requirements.

Anyway, I personally cannot conclude from the price action that we have a duster. The sharp decline started before anyone could have known.

What the feck did Mckey10toes say? That he'd bought a Dacia Duster? Or a gas guzzler?

Down 2.4% I make it soundtrader. And yet again, far more buys than sells. The MMs appear to have a bottomless bucket of Sound shares to keep feeding into the market.

When did they turn the live webcam off?

Yes, many thanks Suissecheese.

So, we know that they have reached TD a little earlier than anticipated, and also a little shallower. And they are now going to run wireline logs. This all sounds positive to me. Fingers crossed.

I have no idea how the tax works itsagame. Usually you get taxed on income though. If they are paying tax when they pump it out, then have to wait until they can ship it to sell, there is a clear need to be hedging that.