Oily, of course the project still has to be proven and this is currently being undertaken.
DeGolyer and MacNaughton independently assessed Icewine to originally have 250mil barrels recoverable on the 99,360 acres.
This was upgraded with the extra land to nearly 1bill, again by the esteemed DeGolyer and MacNaughton.
To suggest the only oil at Icewine was 3 beakers extracted from some cores is itself misleading.
I promote the idea that the volitility of the share price is based on the investors not getting instantaneous oil flow and the perception of some negativity in announcements.
This project still has a high risk rating, no argument from me, but plenty of experts both connected and independent are working to reduce that risk.
Best to be reminded, we do not know what we do not know.
Cheers
i still have faith, page-49
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