Cannot understand the selling today; the announcement is clear that shows of oil in mud and gas between 700-1,110 mMD were ‘consistent with what was encountered whilst drilling Almeda-1’.
So where is the problem? Flow test not done? Suggest read Kangaroos67 post on possible technical reasons for this.
Announcement highlights read “ Strong oil shows and high connection gas encountered”. Also, excellent progress with drilling currently ahead of plan.
My view is that results are very encouraging, confirming information gathered during Almeda1, albeit full details are not yet known. I will be hanging on to my small holding (as compared to some on this forum) till full details are made available by company.
Ann: Alameda 2 Drilling Update, page-244
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