pancontinental oil, page-6

Sorry, Can't comment further on the sellers

Here's a post from Ozestock.

If the mud's flowing the oil ain't far behind.

Regards M.


From a further conversation with one of the JV partners today I can confirm that the well has been unplugged and the production testing has begun. Drilling fluids are flowing to the surface under natural pressure and once that has run its course the reservoirs will be stimulated and tested. Drillbit is right to have warned that this will be a slow and I guess, at times like today, a painful process for the market which tends to like a blow by blow description. Lack of formal announcements Friday and today sit oddly with the announcements earlier last week about the mechanical failure of the wireline etc. This lack of a progress report probably accounts for the wariness in a falling market which saw the JV partner stocks retrace a little today. You might have thought they would have told us when the wireline problem was fixed and the well unplugged. Apparently they have decided only to make announcements when there is something substantial to report! BLO usually has an activity report out on Tuesdays so we should expect an update tomorrow. JBC