Phillip_k TU on your post about order of announcements.
Basically, NSE f'd up the logging. Whoever was logging the chips coming up in the mud (could well have been a graduate geo on night shift, you never know) didn't say hey boys we've hit some dark grey rocks, looks like mudstone/shale! Time to start coring... that is a big call to make as cores are a lot more expensive. Anyway..
They went too far before coring, plain and simple. Had to take these sidewall cores after the fact, but happy that they have.
All in all this well was a success as there is definitely gas down there BUT only dry gas. Who knows what sort of flow rates might be achieved if they ever come back and frac it... until then we wait on the analysis from the labs.
The big price drop is gutting but this was the first of 3 in this campaign alone. I like Anatols suggestion about conventional traps at the next location. Potential looks good! I dislike Anatol always having a go at Slampoil, his contributions are great and he has a lot of knowledge in O&G sector.
In the meantime I hold on a loss. I might average down a fair bit in a few weeks time. Good luck to the longs on this one!
NSE Price at posting:
35.5¢ Sentiment: Hold Disclosure: Held
