Ann: Operations Update, page-61

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Pangzi2

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14/06/17

09:40

Post #: 25259931
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Originally posted by doodledog ↑

It goes without saying that there is risk in extracting oil from 3.5 kilometres below the
frozen Tundra in Northern Alaska.
Having said that, even by 1990, over sixteen thousand six hundred and fifty wells had been
drilled deeper than 15,000 ft in the U.S. since the first deep well was drilled in 1920,
according to Petroleum Information Corporation's Well History Control System.
Add to that all the thousands of other wells around the world and allow that 27 years
of innovation and technology since then have made this practice fairly routine.
Management here are just being realistic and sensible. They minimise risk any time they
can. That is why this is our second drill hole. The first was planned to explore their
theory and establish data for the second hole. Then they minimised the risk again by
taking risk away by doing the well vertical, instead of the slightly more risky horizontal
hole.
Its my opinion that if Dave and Paul were using their own money like our neighbours,
they might have done this drill a bit different. They might have taken some risks but
theres the matter of thousands of individual shareholders wanting a good financial
outcome here so they have been responsible and cautious.
Even not doing the first scheduled micro stim was being sensibly cautious as I imagine
there was some risk there that was deemed unnecessary once their readings indicated the
well had better pressure than they thought.
I like the way Dave and Paul go about their business and am more than happy with my
88E investment.

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Risk = Rewards , this is very simple rule...

88E Price at posting: 6.8¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Ann: Operations Update, page-61

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