gulfsands vs adx announcement

I have read the anouncement by ADX last night (ASX) as well as Gulfsands announcement on AIM market and I have tried to get better understanding of what the announcements mean.

Firstly the annoucement of this oil column within the Upper Cretaceous (Abiod formation) is a cheerful news after the terrible erroneous report by P.Strachan. I believe that he is a good analyst but he should not be getting involved with well results. He clearly stepped out of line.He has certainly allowed the price to drop for some derampers to get on board.

I have always been positive that we might have a good oil discovery here. Though flow test is yet to be done, the indication of " relatively high porosity and permeability" is a sign flow test should be successful. Usually high oil saturation + permeable reservoir = good commercial flow. Lets hope that is what is obtainable here.

ADX has stated that " wireline logs indicate several potential reservoir zones within Tertiary and Cretaceous aged sections". Does that mean we have more hydrocarbon that are still been evaluated but not reported? In the previous announcement they mentioned " zones of interest to be tested". I am believing that there might be more to come IMHO but what do I know?

The Tertiary is structural higher than originial predicted. Does this mean that the reservoir was intercepted at shallower depth? What is the significance of this statement if no hydrocarbon has not yet been reported even though they say hydrocarbon was logged there?

If the net to gross ratio comes good, then we have a significant oil discovered in this well. I have said previously that the Abiod is the trump card here and that is what has happened. The oil column reported is a single continous thick column i believe. The report did not say cummulative oil column at that zone. So there is the possibility of other zones not as thick as this. That is my interpretation. I believe thay had to get this announcement out to calm the fears of the shareholders while work is still ungoing to evaluate what they have found. Soomething just keeps telling me there is more.

I have read the version of the report by Gulfsand and they have given more interpretation to the situation. They said the oil column started from 1156m. Though they did not say 3om oil column but They say that the casiing will be set to 1295m from surface. Why do they want to case to 1259m when the oil column should run from 1156m to 1186m? I am not a driller or geologist but I am puzzled. Are they expecting more zones to flow hydrocarbon than stated so far?

Gulfsands has also stated that there is the need to " evaluate the quality and hydrocarbon content of SEVERALL POTENTIAL RESERVOIRS ENCOUNTERED WITHIN THIS BOREHOLE". There seems to be some hint of more hydrocarbon than stated so far.

Hope the Mini-DST ccanbe done quickly before we commence full production testing to have an initial gauge of anticipated stabilized flow rates during production flow testing. Expecting the full log and net pay of all hydrocarbon zones in the next announcement.

GLA

DYOR

Abbey.