big dump on voy news?, page-3

I am not so sure Diatribe,

If I was in any of the companies involved in Cliffhead I'd be fairly anxious. Why???

ROC commented in an open briefing in January that "Cliffhead 5, will take on a greater significance with regard to mitigating the risk than originally enviaged when it was proposed last year, Cliffhead 5 will drill into the East Ridge part of the field."

Today in Voyager's drilling report Voyager reported that "The Cliffhead 5 well has drilled past the projected core point and it appears the reservoir will be intersected lower than predicted." However the sentences that would worry me the most were "Accordingly the joint venture has decided to continue drilling through to total depth before running wireline logs and evaluating the status of the well. A range of options will then be considered including a sidetrack." and "The effect on the commercial potential of the field can not yet be quantified."

I'm no oil exploration expert but why would they even be mentioning a sidetrack unless they think CH5 may come up dry??

That said, no point worrying about the results, hopefully the reservoir is just low to prognosis. Results should be out before the market opens. If they aren't I'd watch the market very carefully for anything that looks like insider buying/selling. Tomorrow may provide some good buying opportunities.

I have my fingers crossed for all of the partners in Cliffhead and all their investors.