a few sold, and no one buys ... so what?
cement bonding they said went well in the announcement last week. natural flow. since the mention of live gas they've been quiet. suggests stimulation was always the go
... no doubt the punters want to see the gas, so do i, so do the company ... but reading between the lines is a futile exercise. they may have nothing, or heaps. we and they won't know until they stimulate the thing.
stimulation was always the go in this region ... they have done a test to see how to stimulate it. what part of that is confusing or misleading?
this section of the hole they couldnt even log properly cos its so far down and at the bottom of the well. they reckon they have logged 2feet of it and it shows good permeability. good. porosity? who knows... what i like is that they have a natural fracture down there and this could be a big plus ...
''A large open natural fracture has been identified on both the CMR and FMI which corresponds to the 3099 unit show observed while drilling. The fracture occurs within net pay as determined by the petrophysics conducted independently by both RPS Energy and Schlumberger. The CML confirms the formation has good permeability over the perforated sections in the gas bearing interval.''
greater minds than ours are working this weekend to get it flowing. i say. let em get on with the job and we'll see what happens monday. one things for sure. the middle section is the one they would be expecting to flow. if this bottom section is now good well then it really is last chance saloon .... not surprising some more took funds off the table today.
im holding heaps ... and ready to be pleasantly surprised.
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