Ann: Operations Update, page-42

The Announcement this morning is terrible and now in my opinion gives an 80% chance this is a duster.They say water may be blocking hydrocarbons, in other words they have not seen any pressure hydrocarbons. I am no oil/gas expert, but this seems to be going from bad to worse, and with the amount of shares this company has, i would be very concerned if i was holding.
Wish all holders the best, but DYOR, dont rely on heresay on these threads.

Flowback operations have continued, with fluid composition comprising 100% water. After analysing the performance of the well to date, and comparing to results from other plays, a decision has been made to shut the well in for six weeks to allow for pressure build up and imbibition to occur. Imbibition (or soaking) has proven to be effective in other plays by allowing frac fluid to be absorbed, displacing in-situ water that may be blocking hydrocarbon molecules from being able to flow through the reservoir. "

Post the shut in period, the well may then be swabbed.

"Further analyses are required to determine the impact, if any, of the performance of the Icewine#2 well on the probability of success for the HRZ play at the Franklin Bluffs location and over the wider acreage position."