EMR 1.60% $3.82 emerald resources nl

what happened, page-13

  1. 2,988 Posts.
    By my reckoning the results are a fair way off. Wireline logs probably finished Friday.

    The reason they would have run the logs now would be to see if there is anything worth protecting with casing before drilling deeper. If there is suggestion of potentially productive formations they will have taken another couple of days to set and test casing and likely only starting drilling again between Monday and Wednesday. If not then they would have to run the string and re-started drilling Sat/Sun with still about 6-7 days to TD (drilling has been slower than predicted at depth, plus delays for wiping/logging).

    I would be very surprised to see much further info prior to Monday 17th Sept. Following reaching TD we then have up to two weeks for testing any potentially producing formations. We'll probably know by about the first week of October.

    I agree tomorrow may be a "top-up" sort of day at the right price.
 
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