Basically with QPN and its current Mcap of 11m presents a very good opportunity to invest in a oily penny with huge potential in the ST.
Quest Petroleum 15% Amazon prospect is expected to spud in October from what we have been told by head office or November from HC:) and is likely to take six weeks to drill to a total depth of 4,880 metres, testing several thick horizons of over-pressured sediments within an interpreted tilted faultblock structure where strong seismic AVO anomalism supports a case for discovery of gas and oil at depth.
Amazon is estimated to be capable of holding 45 mmbbls of oil/condensate plus 450 Bcf of gas if hydrocarbons are present and discovery at this level would be worth to Quest (QPN) 22cents per share or a 15 bagger from current levels on a 15% retained intrest in Amazon alone.
and thats why i am board this bad boy it offers a much bigger upside IMO than its ASX listed partners and in this current bubbly market i fell the market will eat up this deal once it is presented to market properly.
I tried to ring Head Office today to see what they had planned to get the word out before Spud date and some one is ringing me back tomorrow so i will keep you all in the loop...... i would say we will see a update very soon as it would be very a miss of head office if they didnt take advantage of pushing the upside of this project to the market i will never forget the reaction the market had when Kelso BUY,s CEO updated PEP11 with highlighted targets of $2.20 per share the SP went ballistic.
I cant see any evidence of any of the partners pushing the Amazon project so i would say we are on the cusp of a nice news stream from all partners involved........ hold tight crew this one could be a doozi once it starts to move cant wait..... stand out no brainer @ current levels IMO:)$$$
Happy Days
GB:)$$$$$
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here,s the scoop crew on qpn :)$$
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