Morning all,
Good radio broadcast with Gary Jefferies of Xstate Resources. Good communication channel with shareholders. Gives us insight to ongoing operations. I guess this would have calmed some nerves. reflected by the 11% rise on XST this morning.
I have noted the critical points during the interview below.
" We have recoverered oi in apparrently good reservoirs at approximately 1200m meters.
" We have gathered huge data fromm SD well"
" Analysis of well log, oil and gas shows in well, pressure measurement in comparison with similar information from nearby producing oil fields"
" samples of live oil sent to leading lab in Europe for detailed analysis. We are awaiting test result"
" We have cased well to ensure OTHER potential reservoirs are physically separated"
" James, it is worthy noting that the Corbane JV is still looking at other zones in the well. There is upside to to the 30m discoverey. Other zones of hydrocabon being interpreted"
"Data to be used to map potential reservoir area and potential range of recoverable recoverable oil and associated oil and gas"
"There is a set procedure to undergoing in order to procure equipment and services for the flow testing. Procedure to be done in a way in order to recover cost. Takes more time compared to the US where you could contract a rig over night and get it in the morning. We don't expect this to slow us down.Work done with due haste"
" Chorbane permit has 100% successr rate where three wells have been dug in the 3700 sq kilometer permit with no dry hole"
" Kerkoune permit has potential 600m column of gas being investigated"
I have quickly scribbled the points I could pick as I was departing for work this morning. Might not be 100% verbatim quote but tried my best to report the exact words to be best of my ability.
Topped up 15000 units more last night. They have to adhere to the strict procedure set by Tunisian govt for procuring services and they are rushing this as much as they can. More hydrocarbons likely to be reported after detailed analysis. This correlates to my earlier posts. We have to wait for lab results before the next batch of technical reporting IMHO.
Holding XST
DYOR
GLA
Abbeytole
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