I went back to the 2021 PRs and read each one pertaining to the Merlin-1 well, and compared them with the PRs this year. The "oil shiow" data announced from the Merlin-2 matches the Merlin-1 (e.g., C5 in the mud, flouresence, etc.). Merlin-2 is downdip from Merlin-1, penetrating the same targets. I'm thinking the two wells may be mirrors of one another with a few exceptions (e.g., thicker zones in the Merlin-2 as predicted). So, the question I'm asking myself is do I think the Merlin-1 hit bit oil but couldn't prove it due to mechanical problems when testing that well in 2021?; or, was the Merlin-1 just a really nice gas well containing some residual oil from millions of years ago?... oil that has long since moved to some other reservoir located elsewhere in NPR-A (or to surface). The market is telling all of that the mainstream concensus is its a very nice gas well which has zero value on the Alaska North Slope. For many reasons, I sincerely hope the market is wrong. The flock of sheep has been wrong many times before in the markets. But sometimes, the flock is right. Time will tell. Anybody who says they know with certainty at this point in the well announcements is fooling themselves (unless they know something the market has not been told). All I'm 100% certain of today is what the market is saying with its voting power (price per share and volume). There is significant risk in this investment. There is significant potential goin if a commercial oil discovery is announced. We don't know yet but the market seems to be hinting to us it believes there has been "no discovery" but it's still a hint, not a firm declaration. If it were firm, the stock price would be much lower.
- Forums
- ASX - By Stock
- Ann: Merlin-2 Well Reaches Total Depth
I went back to the 2021 PRs and read each one pertaining to the...
-
- There are more pages in this discussion • 147 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add 88E (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $86.67M |
Open | High | Low | Value | Volume |
0.3¢ | 0.4¢ | 0.3¢ | $5.31K | 1.760M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
599 | 613454913 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.4¢ | 525592201 | 136 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
597 | 612554294 | 0.003 |
152 | 361605305 | 0.002 |
57 | 297199896 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 519524201 | 135 |
0.005 | 218110119 | 114 |
0.006 | 123795097 | 77 |
0.007 | 223766736 | 55 |
0.008 | 85243715 | 55 |
Last trade - 16.10pm 16/05/2024 (20 minute delay) ? |
|
|||||
Last
0.3¢ |
  |
Change
0.000 ( 0.00 %) |
|||
Open | High | Low | Volume | ||
0.3¢ | 0.4¢ | 0.3¢ | 13377000 | ||
Last updated 14.55pm 16/05/2024 ? |
Featured News
88E (ASX) Chart |