pizza I think you have raised a valid point, here. Next week should be interesting. The CR for MEO could have been a week later or else extended for a week. A good chance for small LT holders to top up. The price is and has been suppressed for some 2 years, of which the Bentley's offloading in recent months, was more of the same. Prosper has a very valid point that the constant flow of positive announcements were never reflected in the SP.
Seems to me like ENI think that this well is going to provide good flow rates by NOT considering hydraulic stimulation? Or is this wishfull thinking on my part?
NT/P68 Drilling Environment Plan Summary NT/P68-HSE-PL-005 March 2012 Page 7
hydraulic stimulation – the requirement for hydraulic stimulation will not occur in Heron-3 but may be considered on any subsequent wells. This involves using a pressurized fluid (Medallion Frac HT fluid system) to initiate and propagate a fracture in a rock layer deep below the seabed (e.g. 4505 m below seabed at Heron-3), in order to release petroleum, natural gas or other substances for extraction. It will not be possible for the fluids to migrate through to the marine environment.
MEO Price at posting:
21.0¢ Sentiment: LT Buy Disclosure: Held
