chk selling their ssn leases and more, page-35

Hi buc, if, as matsim posted, Terry is right and CHK drilled at the wrong depth etc, it doesn't necessarily mean there's no oil there.

It just might mean that CHK would rather move on and concentrate on a bigger play than fiddle fart around in an area that requires specific expertise that they might not have. As you said it's only a small play for CHK anyway, so no big deal for them.

Today's selling has me baffled, with no hint of our action from the US trading session I don't know what could have changed after hours or overnight in the US to warrant the selling here?

A bit weird but I see no reason to panic, it might be the CHK news, did CHK hold a few? Or even if SOA isn't a vertical goer remember it's only a test well, and if conventional vertical isn't possible I'm sure they'll go horizontal and frac as usual. And they'd know the exact depth and direction to go from the vertical logs etc. Maybe even a vertical frac would be suitable, another oiler I hold does them.

I suppose all will be revealed soon enough, personally I'm long & strong & backing TB all the way :)