Ann: Wagina Gas Discovery, page-165

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thecone

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01/08/19

15:56

Post #: 39814459
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Originally posted by jophda ↑

Good to read a post written by someone who knows what they are talking about .
So far there has been mainly only very good news in this well .

They have given this well a very high COS for their primary target and have designed the well to be a producer from that zone .

They have discovered a small thickness of good quality gas charged reservoir at the top of the Wagina .
14 % porosity is certainly " significant " for what they are hoping for in this well but the net pay in this section may be too small to be commercial on its own .
They would only flow test this zone in this well if the lower zones completely fail .

They are setting the liner even though they have not yet penetrated the Basal Wagina so as to case off the borehole that is giving trouble .

The primary target is still the big prize .
The tone of their announcements does tell me that they are very excited about what they are likely to find in the rest of the drill .

I don't think that there is manipulation , just some profit taking while there is still some doubt about the ultimate outcome .

Don't get me wrong I am excited about this drill and think it is likely to be successful but there is nothing definite yet .

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Superbly put, as ever jop, knew you would be here, you always are!
On wards to the main game!

Tc

STX Price at posting: 12.0¢ Sentiment: Buy Disclosure: Held
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Ann: Wagina Gas Discovery, page-165

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Ann: Wagina Gas Discovery, page-165

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