LKO 0.00% $1.00 lakes blue energy nl

i think this may now hit the stratosphere!

  1. 1,791 Posts.
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    I was trying to access some old reports online but for some reason they are not available. In particular I was looking for a report re:I think the Boola Boola -2 well because from memory the driller wasn't paying attention and the machine supplying the drilling mud ran out of petrol and it finished up being a real cock-up.( Last I recall LKO weren't paying and the driller was suing ) Anyway that's bye the bye - what I was trying to find was a report that said for a depth of 1800 meters it was methane & ethane all the way down.
    So I did a bit more research in some old files I have and some very interesting reading because just about every well they have drilled has found tight gas.
    EG> report dated 22/11/2005 ' the Boundary Creek 2 well encountered gas at low levels continually from a depth of 244 meters to its current depth of 2,341 meters " (That's over 2000 meters )
    Now in essence I think us long time investors that bought from say 6c down gave management away because they were continually off and chasing the next drill over the hill instead of really giving the fracturing a decent go. (There was a decent excuse for that - something to do with putting in the effort to retain our access to the drilling rights )
    Now at last it appears to me we have finally got the fracturing right - ie they are hitting it with decent amounts of propellant - ceramic beads I think - to give a frac of say 600ft. compared to the previous 95ft.
    Another little report - LKO's plan for the Wombat field - covers about 12 square k's - drill 20 -30 wells by year 5 with additional wells to be drilled to maintain production levels - each well potentially has 3 zones for fracturing = initial flow rate of 6.0 million standard cubic feet per day.
    So, it appears Bob Annells dream might just start to pay off ( he considers the Baragwanath Anticline to be the real sleeping giant ).
    I am hoping the SP might just ease off a bit to allow the long term holders to get really set for the long & profitable ride but I am not holding my breath as their holding is a huge area with lots of sweet spots in the intersected Strzelecki Group.
    Really, dare I say it? - I am nearly reduced to tears with the enormity of the potential - I think BA may finish up richer than Twiggy.
 
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