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Thanks money, I did mean to say ASX as it has been noted here before in posts that it was an ASX requirement.
Frustrated as are others
wjmflp
Ta cd66
I would rather have a lower Total porosity with ideal effective porosity for the kerogen - wouldn't you? more % left for the kerogen
It just means log jamming the pores is more likely with less of it being able to be used by us !
wjmflp
Why thank you City
It seems the market agrees with me at the moment
DW mooning at PI's
wjmflp
Also
'...At slightly lower thermal maturity, it is prognosed that porosity/connectivity will be significantly improved...'
Isn't it provided elsewhere that lower thermal maturity has an increased chance of producing errr bitumen.
wjmflp
Although DW might be under constraints, the content of the RNS is pur drivel.
I hope it is just a process of compliance with AIM requirements.
Filled with techno nonsense and regurgitation.
I give you an example
'.....The kerogen in the HRZ at Franklin Bluffs has been converted largely to solid bitumen, with sub optimal intraparticle
porosity and connectivity..The total porosity of the formation remains excellent ...'
and later in the same para
'.....however, is lower than ideal...'
excellent and then lower than ideal ! rubbish speak
Waiting to get out
wjmflp
See 11:13 & 11:15 Re: All quiet on the front
DW said Internal approval and documents ready by end of June (which is the ANN/RNS)
As to signing - another wait
Not long now for the firework to explode and hopefully a progressive tick up for the next few days/weeks as we wait
wjmflp
worried we are starting from such a low sp
So June ? - I am not going to hold my breath for any RNS
The little stinker
wjmflp
I think our DW may have been a little disingenious:-
if the wording is '....final decision on approval and documentation of the agreement.' then documentation of the agreement will not necessarily mean signing of the documentation.
From this I do believe that although there may be 'internal approval', signing will come later - who knows when !!!
wjmflp
100% gain from 0.55 is only back to 1.1
SP drift is a real issue
wjmflp
Oh we have it iMO, just need to find the right spot to hit it properly.
As from wiki, bitumen forms at lower maturation temperatures, so deeper should mean higher?
3rd time luckier and with more info easier?
wjmflp
Brom,
Looking at my earlier post regarding kerogen and bitumen forming at lower temperatures of maturation, I reckon that IW2 may have been a case of going left instead of right from IW1. It's just a guess on my part so any other opinions are welcome.
It may also be that going left was correct and we just did not go left enough.
However we have substantially more info now owing to IW2 and the next drill (if and when it happens) should yield greater things perhaps.
Heres hoping
wjmflp
From Wiki:
During the process of thermal maturation, kerogen breaks down in high-temperature pyrolysis reactions to form lower-molecular-weight products including bitumen, oil, and gas. The extent of thermal maturation controls the nature of the product, with lower thermal maturities yielding mainly bitumen/oil and higher thermal maturities yielding gas. These generated species are partially expelled from the kerogen-rich source rock and in some cases can charge into a reservoir rock. Kerogen takes on additional importance in unconventional resources, particularly shale. In these formations, oil and gas are produced directly from the kerogen-rich source rock (i.e. the source rock is also the reservoir rock). Much of the porosity in these shales is found to be hosted within the kerogen, rather than between mineral grains as occurs in conventional reservoir rocks.[8] Thus, kerogen controls much of the storage and transport of oil and gas in shale.
Do we have a mix of 'bitumen pits' and 'oil/gas' pits
Did we hit one of the bitumen pits with IW 2
garrym?
wjmflp
as I bought 8 trillion today I did not think there was any left :)
right
wjmflp
In the North Falkland Basin, technical definition and cost optimisation of the Sea Lion project is nearing completion. Preparation of the Preliminary Information Memorandum and the related independent expert reports designed to secure senior debt funding for the project is also well advanced.
wjmflp
I have a habit of investing in so called 'transformational BoDs' who take what should be exciting co's and creating lifestyle shares.
So at the outset when information and explanations require thinking I get quite excitable. The more technical, the more I embrace them (hence 88e when PB was around) and the HRZ technicals.
Then 'Brexit type scenarios' set in. You know, the long drawn out everything's ok type, trust the BoD, alls good, this share will rocket and CEO's drawing salaries while ordinary PI's get shafted.
I am quite embarrassed about the number of times I have stood for these types.
However, onwards and upwards to the coffin awaiting us all.
I have 2 shares left, both lanquishing at lows I did not expect. Both oilers that I have held through the $30 POO's and I just cannot seem to find an out price that suits me.
Both BoD's getting salaries at my expense and shares at my expense while I drift awaiting the so called BOOM.
Good thing it's just a play thing and not my job.
wjmflp
And the worst of it all, the saddo's and lies on BB's
reflect or believe the FO process is as advanced as some on here otherwise this sp would not be where it is.
The MM's are laughing at us PI's
wjmflp
Again
Again
Posting 'pie in the sky' sp's is also ramping and dangerous ramping at that
100% from where we are is circa 1.5p and that is a long way from where we are.
Quadrillions of pi's waiting to get out
be lucky if this reaches 1.5 before any second round IMO although I would be extremely happy if I am wrong
wjmflp
And now we have the tool - sorry FOOL on board
Says it all