Good morning Villbillies ,
I have not posted on HC for a few days after seeing 100 plus brownie points to a post by nathan . No offence meant to a good attempt but the post was based on a premise of gas flows being determined by the logging . This is definitely NOT the case . One person did pick up on it but in essence the more exciting sounding one can make a post the more the sheep just accept anything a poster says .
Seeing thejase post again and reading that misguided post has tempted me to post again .
The upside of this company in the presentation has been determined by a scenario of between 7 and 10 million barrels of OIL . Talk of ten cents and fifteen cents , when flow rates and actual pay zones of gas ( no oil ) can only be guessed at , is absolutely ridiculous . During the past few days I have read all the posts and if I was to correct peoples inaccuracies ( which I like to do ) I would need to be here on the thread full time .
It is very hard to get to the truth when threads are full of unsubstantiated claims and continual inaccurate numbers and projections .
The reserves and flow rates will be sorted by testing over the next few weeks and although it is a very good find it is true that oil was the targeted commodity in the upper zone and gas will not supply anywhere near the upside of oil . There could be some oil by the looks of things and we could get more gas from the bottom of the hole where the original gas target is .
It is unlikely the new pay zone is a continual 225ft . I also understand the whole world seems to getting into VIL and there will be plenty of new posters and old alike getting quite excited but PLEASE try to keep a lid on it by resisting the temptation to to post without thought .
I am prepared to be shot down in flames for this post but it was either ignore the situation or join in again and attempt to restore some sanity .
I still hold , have had some successful trades and am fully confident of this project being eventually proven as a good producing field . One well , however good the flow , will not bring the company the cash flow to maintain the share prices being bandied about on this forum . It will however substantially increase the p50 reserve status when testing and reporting has concluded later this month .
In my next post I aim to give some examples of the rubbish I refer to .
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