My concern is that Scott stated any oil or gas shows whilst drilling may be supressed by the heavy mud weight and the LWD tools might not record any hydrocarbon shows. He stated that if this happens that doesn't mean there isn't any oil or gas in the target zones, just that we will have to wait until the well is logged with wireline tools after TD.
Well we all know how the market will react to no announcement of any shows as they drill through the target zones - the share price will fall as the day traders and uniformed exit the stock thinking the well is dry.
I would have thought a better strategy would have been to go in with a normal mud weight and wait for any drilling break on intersecting a target zone and monitor the well pressure. If there is a kick engage the BOP and then increase the mud weight until the pressure is normalized. I think this would give them a better chance of detecting any hydrocarbon shows with the LWD tools.
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8.7¢ |
Change
-0.001(1.14%) |
Mkt cap ! $123.3M |
Open | High | Low | Value | Volume |
8.9¢ | 8.9¢ | 8.4¢ | $496.7K | 5.718M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 10998 | 8.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.9¢ | 400000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 10998 | 0.087 |
1 | 100000 | 0.086 |
1 | 14457 | 0.085 |
8 | 364119 | 0.084 |
4 | 383830 | 0.083 |
Price($) | Vol. | No. |
---|---|---|
0.089 | 400000 | 1 |
0.090 | 250000 | 1 |
0.091 | 315000 | 2 |
0.092 | 325000 | 2 |
0.093 | 360000 | 5 |
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