Ann: Company Update - World First Drilling Techno, page-26

re: Ann: Company Update - World First Drillin... Just read an interesting article about Coretrack in The Mining Chronicle. Points I'm highlighting:

"Coretrack is on track, barring
any unforeseen glitches, for the
big reveal in June this year."

If everything does go to plan and an announcement hits the market, does anyone think this will have a considerable effect on the sp?
I'm assuming it will as the technical risk would have been finally removed. There's more buyers around and the company seems to be raising its PR profile really well. This, coupled with a modest cap raise to me shows high confidence from within, so if there are any glitches I reckon they'll be straightforward to overcome. In other words I think CKK think they have it cracked. Then it'll be a question of commercialisation or as previously
discussed (in this thread), new corporate direction. Still speculative but less speculative imo.
On the technical side there are also some good quotes from the article:

"Significantly it will prevent
unnecessary “tripping” in
and out of wells – which in
an offshore environment could
translate into 10-15 hours of
lost time and half a million
dollars in costs.
Mr van ‘t Riet also underscored
the other benefit of the CLRS.
“When operators fail to detect
a jam and continue coring, they
are likely to mill the formation.
If this happens, operators will
need to drill a deviated well in
order to get the required data,
which could rack up millions
of dollars in outlays in the
offshore environment. Our tool
eliminates this risk.”

I also liked this quote from the CEO, which to me shows how seriously the oil companies take the CKK technology:

"As a new player, it’s not
always easy to convince an oil
company to put a new tool in
a $40 million well."

SV

PS anyone know why Gruffalo's been sin binned?