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blackphantom

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17

08/07/14

07:52

Post #: 13625302
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Originally posted by whisky49 ↑

"Whisky where is the update? Arent you concerned on your investment at all? Give me a timeline when you seriously will start getting nervous? With no updates..."

I'll say it again Blackphantom, I'm a longterm holder and the only update around testing that is of interest to me is the one that confirms a commercial flow, that could be today or next month, I like the chances of one this week but am not concerned either way.

Now I would be concerned if there wasn't a history to go from with the previous well or it was a wildcat well or C18-19 were the only zones.

Its none of those , thats the beauty of stacked plays, every play you can produce from is like drilling a new well. We know C17 is a producer and we also know the best log results are at the top in C13 with a lot more in between , we also know they have oil and it can flow, because it did so during drilling and we know the log results were similar.

We also know they flowed oil in the upper section of C18 in #4 but high gas pressures made it difficult to get a high oil flow, now there is no reason to believe they won't be having the same issues in #5 but they will be aware of them and probably have a different approach.

I would like to see them give the C18 zones a chance at a commercial flow, it would add to the reserves and the overall life and final returns from the well and the whole field, they are a problem part of the well but as they are at the bottom its worth spending the time IMO.

We also have SLB running the testing program, along with Halliburton they are the very best you can get and also have a reputation to maintain ,if there is a chance to get oil out of the bottom zones they would be who you want supervising.

If you are impatient or prone to worry then a spec oiller is not the place to be, if producing oil was easy everyone would be doing it.

Cheers Whisky

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Thanks for your reply whisky
GLTA

CTR Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
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Here comes 100 share trading again, page-18

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