Even the Buru posters think it's an overeaction in NSE trading this arvo. There is gas - a very good start.
A new technical team from the one currently managing Nicolay-1 drilling would be a another good start - before drilling the next well! Fancy having to back track and take sidewall cores a couple of hundred metres back up from the first core! Did you not report mud logs with gas from that section just last week?
No wonder the first core was dark grey/black - it was already well into the Goldwyer! What would you expect but nothing when your drill is couple of hundred metres from the first core - when you are no longer in the Goldwyer! Should not come as a surprise that there is always the possibilty that there is no gas in the Willara here.
Your comment on limestone/sandstone whatever in the core tells us nothing about where exactly that was observed. Could it be towards the end of the Goldwyer and into the Willara? Should that observation be a surprise?
NSE - try recalibrating a couple of hundred metres further up the drill hole - you have gone way past the zones of interest!!!
I am an optimist - fact is - THE GAS/CONDENSATE IS NOT GOING AWAY ANYTIME SOON!
1/10 for the report. GB
NSE Price at posting:
37.0¢ Sentiment: LT Buy Disclosure: Held
