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Ann: High Gas Shows in Lower Guinda Formation Sandstone, page-228

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mcbr1990

447 Posts.

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23/03/21

10:29

Post #: 51966860
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Originally posted by Suplat: ↑

Considering that it was drilled to a depth of 5662ft on March 17 and at 6430ft on March 19 at 6AM, that gives us 384ft per day. Let's take the average drilling per day as 260ft as suggested by Blackitalian above.
So in four days until now it should've been drilled a further 1040ft which means upto a total depth of 7470ft by today.

Now looking at the Schematic the next zone is just after 7000ft (Blue arrow) and the one after that one is just before 8000ft (Purple arrow). Which means today's announcement is definitely due tomorrow and next one is to be expected on Wednesday or Thursday imo.

DYOR.

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I would be careful estimating the drilling rate as they get deeper as it becomes highly variable depending on the formation. E.g speeding up through the sandstone, slowing through the impermeable shales etc.

There is also risk of bit changes etc so it can eb and flow a bit at depth.

In saying that all going well they should be around the next zone now.

IMO DYOR

SGC Price at posting: 8.6¢ Sentiment: Buy Disclosure: Held
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