I was to hoping for a progress report some this week. Fortnightly reports would be logical for an "Oil" company. It does not have to be long or exciting. Just, drilling ahead at XXXm in 8 1/2" hole through the XXXXX formation, low level of back ground gas encountered along with Green/black shale.
It would give us confidence that things are on track and are not going backwards.
As it stands now no news means bad news, and most people will assume the worst. If it is purely shale, their is not much we will learn until the samples are sent to the lab anyway, but it would be nice to know nothing has gone wrong in the meantime.
As I have stated before, just getting to TD (2350m) and still being in sedimentary rock is a major objective, they don't have to have a gusher to have a successful well.
LNC Price at posting:
99.5¢ Sentiment: Hold Disclosure: Held
