A great post @Garfus and you make some excellent points.
I think Neil has every reason to be very confident, he, Richard, Stephen and Greg have been around Oil and Gas for many years and know this part of Qld very well. They have a wealth of knowledge between them and to see their individual skill sets play out at Daydream 2 and put to the test will be an opportunity not to be missed.
In fact I emailed Neil yesterday on a technical question that I had and he replied within a couple of hours. I found him very approachable at the recent AGM and continues to show real appreciation to the shareholders.
In his reply there was some additional information that I thought was worth sharing. In line with yesterday's Market Update we know we have drilled to a depth of just under 3000m with another 1200m to go. (TD -Total Depth planned 4200m) The gas saturated zone is immediately above this. As you will appreciate drilling slows with depth (more pressure, more mud, more weight on the drill string) and of course if you saw the link that @BasVerneulen posted yesterday on how the casing was done this adds time as well. (Thanks for posting @Bas much appreciated) In essence TD should be reached in about 2 weeks.
They will log the data at the end, having said that they could get gas shows prior to that (wouldn't that be nice!!) The stimulation program is the key to unlock this play. There is an enormous amount of gas-in-place known to be there. Remember this is an appraisal well not an exploration well. EXR know the gas is there. Data from the logging will be a key input into the simulation stage which is intended to culminate in to a flow test stage.
As @Garfus says Bring on Q1, and I hope to meet you all in the Elixir Lounge. Hopefully we can close out the week above 9c and climb steadily from here. TD is not far away!
PS. I congratulated Neil and his BOD for the great work that they are doing and for the exposure that he is giving EXR with all of his engagements. Also for SLB to continue to have a safe drill program and demobilization. He genuinely thanked me for my support in the company.
EXR Price at posting:
8.9¢ Sentiment: Buy Disclosure: Held
(20min delay)