could be a big........., page-7

hi Pokerface

Obviously dissapointing that target sands at 14500 ft not productive or too tight.

However, the news on this well is still positive. As i understand it the zones at 11810 ft and 11870 ft have good shows that essentially will pay back the cost of the hole.
Beyond that the sands at 12500 ft showed EXCELLENT reservoir quality and oil and gas shows which will be tested once a completion rig can be sourced.
Any production from these sands essentially is the 'cream'to be had over and above the costs of the well.
Much like Hoffer the zone is thought to be relatively thin but wide with possible production of up to 800-1000 boepd, this to be confirmed by production testing.

Interestingly i think the last paragraph re;Schwing gives most insight into what Co is thinking
"Sands at approx 13000 ft contained stringers of excellent porosity and permeability, with some good gas shows, which may indicate up-dip potential in the immediate vicinity."

At the 13000 ft level i interpret this as meaning 'missed it by that much', lol. Obviously they need more info and another look at seismic but it would appear that they may look to step out in order to target features close by.
Remember this is wildcat and risky but every bit of info adds to the understanding of the field and the structures.

All up not the news we were hoping for but positive none the less.Essentially there is now no risk in this hole and AMU is confident it has the goods to warrant further exploration of the feature.
Schwing #2 will generate more profits and provides further targets to be tested.

At the end of the day yes the stock is still undervalued atm. The underlying business of Amadeus is in terrific shape with record prices for their products and a huge pipeline of exploration ahead which is fully funded by current cashflow.

regards

The Dog