Ann: Roc-2 Well Drilling Update-CVN.AX, page-47

Whatsamadoovie said: ↑
Low volumes today, 91000 shares, that's less than $10g..


I guess most who want in are in and the rising oil price didn't spark any interest..

Shouldn't be long now before we at least know something..
Click to expand...
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W: This all takes a lot longer than everybody thinks, there are lot's of 'unknowns'.

What we do know is that as of 3rd August the well was at 2230m, and running ten days behind schedule.

3 Aug + 10 days = 13th august.

The well then planned to drill ahead to 3500m planned date for this depth was therefore 20th August.

The well is planned to then drill down to just above the reservoir target.

Until the next update that's the position, anything may have happened during the last week.

Well then is currently planned to drill down to the primary object--the Caley sands---then the cores  have to be taken BEFORE any real information will be announced.

Then the JV has to decide whether to deepen the well further maybe as deep as 5250 mtrs.

Therefore, IMHO, to expect anything more right now other than a routine depth update seems unrealistic.

Must stress--all IMHO.