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healyn

5,453 Posts.

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27/04/17

15:32

Post #: 24304158
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Originally posted by Harry3539 ↑

Each gas elephant will have a profound affect on the share price (up or down). 18 cents may look very good to what may happen.I experienced a similar situation over KIK some years ago.The spreads between the heads and options were very attractive which lead to frantic option swaps before and during the drill. (Gindara put them out of the oil business). I will play this one as things unfold.

I am not too concerned over RGN-1 as there will be some cost recovery from the C Sands. My layman research tells me that gas and oil may flow from the Upper D Sands (the log while drilling plus old DMP records on porosity and permeability were within acceptable limits). The announcement on 10th March added some gravitas (they stuffed up ?)....
Empire may also use the jet-pump to unlock the Upper D sand gas potential, as test data indicates that the zone had not fully unloaded completion brine lost during initial completion operations, and therefore, further testing may be warranted.

Some serious thoughts there so I will qualify with.... It's my opinion only

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Gas elephant facts.
Gas: An elephant ‘releases’ 2000 litres of methane gas per day.

Elephants produce a lot of methane gas as a by-product of digestion. Scientists estimate that the amount of methane they emit in one day would be enough to power a car for 32km.

Now here is a strategy for EGO's management to consider. Get a herd of elephants, feed them cabbages and then whoompah up go the price of EGOO.

EGO Price at posting: 19.0¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

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