Ann: Gemba-1 Gas exploration well, page-40

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philthy35

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20/12/18

08:40

Post #: 36914679
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Originally posted by fruity ↑

Originally posted by philthy35
What they could do is development drilling instead of exploration drilling.For 5 years now we have gone from 1.5 million barrels of oil to around 800 000 .they should of been development drilling instead of sitting back spending all the revenue on wages,and the failed northern Cooper exploration drilling program. They could also inform the market alot more about what there doing and planing to do.
The Growler 15 horizontal was drilled this year and they have said the results were outstanding, nearly 600 meters of net pay in one well.

If you don't explore you eventually run out of things to develop, those 2P reserves take decades to completely produce unless you overcapitalise on development drilling. And I'm sure if the exploration geologists (who subsequently discovered Marauder and Snatcher North and Breguet) had known for certain the northern Cooper exploration program would fail, they would not have drilled it.

It sounds to me like your crystal ball is set to hindsight mode!

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I know the horizontal well was drilled this year and it is a good producer,but we we're talking about the last five years,read the posts again.yes you have to drill exploration wells but what I was referring to was in the tough times you drill the development wells .

SXY Price at posting: 30.5¢ Sentiment: Hold Disclosure: Held
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Ann: Gemba-1 Gas exploration well, page-40

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