I recall in Oct 2007 this very company trading as WGP then announced a similar oil discovery in it's Kentucky well called Riddle 13.
The price jumped from around 8 c to 42 cents.
One director sold 1 million shares within 1 day of the announcement.
The well became known on HC as Puddle 13 and did not produce.
Could this be De Ja vu?
Here is the announcement.
NOT SO UNLUCKY #13
Date: 11th October 2007
To: Companies Announcement Office, ASX
By Electronic Lodgement Number of Pages: 1
NOT SO UNLUCKY #13
The Company spudded and drilled The Riddle #13 well over the past 24 hours and at
3.45am Perth time (2.45 Kentucky time) the drilling penetrated the top of the Stones
River Formation directly below the Pencil Cave and proceeded to flow large volumes of
pure oil to the surface.
The well could not drilled any further due to the oil flow and the well was secured as a
producer.
A well head will being fitted and flow lines laid out to the tanks at the Riddle #11 site
which will allow both wells to be flowed into the same tanks.
Flow testing to establish the barrels per day production will then commence.
This well was aimed at testing the western area on the lease, which until now have been
left unexplored. Located in a structurally separate block from those previously drilled this
well greatly enhances the prospectivity of this lease.
STEPHEN THOMAS
AND
RIDDLE #13 UPDATE
Date: 12th October 2007
To: Companies Announcement Office, ASX
By Electronic Lodgement Number of Pages: 1
Following the successful discovery of oil at the Riddle #13 location the field team has now run production casing to seal off the well bore above the producing horizon to protect the zone from debris which may cave from weak geological members above.
A down whole pump is also being inserted and production testing will commence as soon as the pump is operational.
Stephen Thomas
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