Member Info for wordog

Forgot to cancel my stop and I am no longer a holder of LEN.

The testing and fracture stimulation program at Zijinshan is at an early stage and preliminary results are encouraging. A hydraulic fracture treatment was performed on the Shiqianfeng (Q5) interval from 1,631 to 1,637m in ZJS5. A stable flow rate of 160,000 scf/d was obtained (12/64” choke, 200 psi tubing head pressure) and the well is currently shut in for pressure build up. A down hole pressure gauge is installed which will provide additional reservoir information in due course.

the ZJS7 well has been drilled nearby to the north east of the ZJS5 well and wireline logs evaluated. RISC has reviewed the ZJS7 well results. We conclude that Leyshon's petrophysical estimates are reasonable. The Deep Gas sand pay counts are on low side of net sand ranges used in our probabilistic volumetrics. Shallow Gas coals of the 4/5 and 8/9 seams are similar in thickness to those seen in ZJS 5 and therefore towards the high end of the probabilistic input range. Therefore the ZJS7 well results are within our probabilistic range of expected outcomes and our reported OGIP and recoverable resource estimates remain valid.

ZSJ5 was a vertical appraisal well drilled to a depth of 2,155 m MDBRT and discovered a number of potential tight gas pay zones which showed similarities to the neighbouring Sanjiaobei and Linxing discoveries. Initial results from petrophysical analysis indicated that ZJS5 had encountered nine potential gas pay zones with a total thickness of 56 m. The 4/5 seam and 8/9 seams were intersected at 2051 m and 2108 m respectively and although thicker (8 m and 9 m) than in the northern wells they are too deep for a viable standalone CBM development. The well was cased to allow future testing. In December 2012 two unstimulated sandstone intervals (1,552 m - 1,555m and 1,560 m – 1,564 m) in the Shiqianfeng were tested using underbalanced perforating technology. No commercial flows were achieved and a rise in liquid level up to 1,037 m within 24hrs of perforation is interpreted to be due to formation water breakthrough from the upper perforated interval. On 28 May 2013, Leyshon announced that following the hydraulic facture stimulation Shiqianfeng (Q5) interval in well ZJS5 a free gas flow rate of 160,000 scf/day has been achieved over eight hours of stable flow at a tubing head pressure of 200 psi.

The region is highly gas-prone with most if not all wells around the Zijinshan PSC generally indicating gas where permeable formations are drilled.

The wells are located within approximately 10 km of a tie-in point on the recently commissioned Lin-Lin pipeline which supplies the growing demand in Shanxi Province. Leyshon advises that recent discussions with potential off-take partners suggest that there continues to be a shortage of locally sourced gas to feed the pipeline and as a result prices are continuing to rise. Locally based major industrial users are reportedly paying in the region of US$10 per Mscf.

CoD not CoS The probability of development of the prospective resources is the chance of discovery times the chance of commerciality, the probability of development of a contingent resource is the chance of commerciality.

http://www.rns-pdf.londonstockexchange.com/rns/0428V_1-2013-12-9.pdf

About 1000000 bought and 1500000 ish sold today, but we finished up. Mqybe a big order has been placed, might explain why they are quoting to buy on big dummy trades?

Again today. Same deal with 50000-100000k buys pushing the price up then selling in one large chunk circa 4.8-5.0. I expected this today and managed to sell a few at 5.0 which I set last night with a stop at 4.4. Luckily the fundamentals and the announcement of the proactive investors presentation have attracted new investors which have supported the manufactured rise today. Call me a sceptic but I feel that for once im right.

on the bid now.

sold some at 5.0p, took some profit but not half!

I agree, the question is will that start now with zjs7 or later with well 8 or a new project? As mentioned before, they had better spud well 8 soon or else there will not be enough time before the winter fracking halt begins. They will not spud 8 until they have evaluated the data from 7, which I believe they are doing now after an unsuccessful testing of the 3 zones. I believe we will get a joint announcement with well 8 being spud. That is why I am halving my holding to avr down later if I'm right, if I'm not I will still make a nice profit. I'm here long term because I believe in the where and what they are doing, I just feel this has gone on too long to be a success on this well. Here's hoping for a positive RNS tomorrow to prove me wrong!

Continuing to expand their tight gas knowledge into china with a JV. Remember, these guys are our consultants as recently mentioned. http://www.naturalgasasia.com/chinas-spt-energy-halliburton-to-explore-tight-gas-oil-in-chinas-xinjiang-12932

How was your holiday ?

I'm doing he opposite tomorrow and halving my holding.

Was delayed, explains why the price held.

How on earth did they get away with not releasing data on zjs6 before releasing rns on jzs7?

Drilling update For the avoidance of doubt, exploration drilling updates are required under AIM Rule 11 and, as a minimum, should include information on: Minerals & Ore Updates • depth of zone tested • drilling intervals • average grades of mineralisation Oil & Gas Updates • depth of zone tested • rock formation encountered • any liquids/gases recovered.

We had better get a move on and spud soon if we are going to drill and test before November.