You are correct, imv.
They’ve thrown in to the announcement, mud weight. Mud weight restricted flow to surface.
My contention is, the oil is too heavy, and the pressure gradient is too low. So no flow. Mud weight had limited bearing.
Note that there was no oil recovered to surface at any stage during drilling.
The announcement on the 4th was the chance to sell at 11c prior to today. That announcement should have spooked everyone. But muppets kept buying from those that knew.
Ann: Block 9 Alameda 2 Appraisal Update, page-237
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Last
3.1¢ |
Change
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Mkt cap ! $104.4M | |||
| Open | High | Low | Value | Volume |
| 3.4¢ | 3.4¢ | 3.0¢ | $165.0K | 5.194M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 1439331 | 3.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.1¢ | 39999 | 1 |
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| MAY (ASX) Chart |