ZMM 0.00% 1.4¢ zimi limited

gas discovery revisited......

  1. 1,313 Posts.
    I just had to go back and meticulously analyse the ...Esoteric meaning of the April 21st announcement titled:
    "Mullen 1-101 Significant Gas Discovery" for any -hidden- not clear clues we may have not spotted upon reading it initially.

    What I "discovered" is also...Significant. Extremely Significant in fact.

    The first announcement, dated April the 16th, just after spudding Mullen 1-101, clearly states: Target Depth (of the the Well) 300 Feet.
    Yes, you read it correctly. The Target Depth was only 300 feet. YET, the Second announcement, -this is VERY IMPORTANT- does not say, anything in relation to the 180 feet between the 300 feet (Target Depth-supposed end of the Well, or beginning of the end, If nothing had thus far been discovered) and the 480 feet where....
    "WHL Energy advices that it has ENCOUNTERED A SIGNIFICANT, Naturally Fractured Gas Pocket AT 480 feet on its First exploration Wel..............".
    Now, my humble curiosity (please blame it on my Greek heritage...), makes me think, once again and question this:

    If the Target Depth was, as clearly stated in the first announcement, 300 feet, and the Significant Gas Discovery was ENCOUNTERED (Encounter=meet, meet by chance, or unexpectedly, discover without prior notice...
    Of course...IF it's a Discovery, you would not expect notification, months in advance to let....The Market Know, would you?) at 480 feet, what did actually found (or not found, discovered) in the 180 feet prior?
    Why would someone continue drilling, another 180 feet, when the Target was set at 300 feet, and supposedly nothing of any importance occured between 300 and 480 feet?
    I repeat: The Announcement says the Significant (Naturally Fractured=Extreme presure= naturally flowing, freely GAS) Discovery was Encountered, in other words, First met, first touched upon, first found at 480 feet.....So, the Significant Gas Discovery Pocket STARTS at 480 feet and goes....We were not told how far deep, how many feet deep...

    The Important part here (in addition to the Significant Gas Discovery, which in My Humble opinion IS INDEED VERY SIGNIFICANT)is: The Missing 180 feet, between the 300 (Target) and 480 (Encountering of the Gas Discovery)feet!!!!
    I CANNOT find a logical explanation as to why, they did continue Drilling for 180 feet (nearly 60 meters)more, IF upon reaching the Target Depth, No Hydrocarbons were encountered (Oil as they initially expected in this case-Mullen 1-101).....Strange......Very strange indeed a scenario we can be confronted with, in dearth of any Company explanation......
    The more and the longer silent (at least as to the size or length of the SIGNIFICANT GAS DISCOVERY POCKET) the Company remains, the more conspiratorial minds (like mine) will start question -and perhaps rightly so- the meaning (IF not the Veracity) of the WHN Announcement.....
    Past WHN Announcements, to be objectively unbiased, have NOT exactly been the ultimate paradigm of Transparency and Lucidity......
    Hopefully, this time, P. Bartter will pleasantly surpise many a shareholder of the Company, as well as the entire Australian Investment Community!!

    Cheers.....Great Sunday and even Greater Anzac Day to All:)))




 
watchlist Created with Sketch. Add ZMM (ASX) to my watchlist
(20min delay)
Last
1.4¢
Change
0.000(0.00%)
Mkt cap ! $1.773M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
1 12500 1.2¢
 

Sellers (Offers)

Price($) Vol. No.
1.4¢ 100000 1
View Market Depth
Last trade - 16.12pm 05/07/2024 (20 minute delay) ?
ZMM (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.