A few of those trades were mine.
I can't see any kind of progress in the short-term. It took them a few years to drill 3 holes, frac 2 and flow test 1. And for some unknown reason (besides permeability) they couldn't get the flow to work, even with the oil seeping from the cores - it's hard to believe we flowed up nothing. A more detailed explanation would be appreciated. It may take them a few tries ...and at this pace of drilling, fracking, flow testing ...it may take a while (another few years?) ...but in the mean time I'm going to take my money and make it work else where.
Not sure if the SP will rebound, stay the same, or slowly drift south in the ST ...but I'll probably look to come back in much later down the line as there is obviously oil down there, but the patch of dirt is so large and remote it may take a while to find the sweet spot and work out the proper fracking procedure to release all that liquid gold. Plus I'm assuming the weather, availability of crew and equipment in this country will also give me sometime to get back in later on. Good luck to everyone!
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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1 | 200000 | 0.028 |
4 | 567185 | 0.027 |
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3 | 1326923 | 0.025 |
Price($) | Vol. | No. |
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0.030 | 157092 | 1 |
0.034 | 10000 | 1 |
0.035 | 444120 | 5 |
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