drillers, page-2

A quote from a investor page below indicates the sell off reaction might be a little premature. Early days and data was indeterminate so far as testing is on going
and really this is a long term stock as theres lots of facets. IMO & DYOR

Last week’s initial interpretation of ‘logging while drilling’ data indicated that drilling hit several potential pay zones.
This included an entirely new prospective horizon that was not one of the pre drill targets.
The wireline logging that was being run over recent days was supposed to confirm conclusively one way or another whether mobile hydrocarbons were present.
‘Slugging of hydrocarbon and water’ occurred - which is often a precursor to hydrocarbon flow from a reservoir… that sounds very promising…
But then there was a power outage due to equipment failure.

Technical difficulties meant the hydrocarbons could not be properly sampled from the two most prospective zones. Unfortunately technical issues in oil and gas exploration can be quite common.
So while an oil ‘discovery’ has not yet been confirmed, more analysis of sidewall cores will be taking place. The company’s technical team will be analysing the data that has been taken from drilling, and will form a plan on what to do next.
It looks like there is oil down there, but it's still uncertain how much of it and how it flows.
What's next for the 88E share price?
We suspect the share price might settle and slowly creep up again as the visceral reaction of the last minute speculators washes through the Australian, UK and USA markets over the next 72 hours, the actual result is digested and the next steps are revealed by the company.