kowalik encounters 50 foot flares, page-19

4 weeks ago

measured depth 13364 feet

Approximately 1,500 feet of horizontal hole has now been drilled with total gas recorded in the range 300 to 700 units – up from a background of approximately 200 units. Intermittent minor gas flares were present over the last approximately 100 feet of drilling.

3 week ago

measured depth 13835

the well had reached a measured depth of 13,835 feet. Following minor changes in the rig configuration to more accurately measure gas readings, TCEI have advised an increase in background values to 1,000 - 1,300 units. Gas flares have been observed of a more sustained and substantial nature whilst drilling during the last week and a significant flare occurred following a wiper trip.

2 weeks ago


measured depth 14,385 feet

the well had reached a measured depth of 14,385 feet, which equates to approximately 2,500 feet of the planned 6,000 feet of horizontal section within the Austin Chalk.

The well has continued to produce gas whilst drilling, which has led to sustained flaring activity. In addition, when routine operations such as connections reduce the downhole pressure, larger flares have been observed on surface, indicating a response to drawdown**. Elevated gas readings of approximately 1,500 units have been consistently measured during the drilling of this portion of the horizontal section.

1 week ago

measured depth 15239


Since the last report the well has continued to produce gas intermittently while drilling, with larger flares observed following periods of shut in when tripping to change components of the drilling assembly. The surface gas readings have averaged 2,000 units during this section.

More significant gas flares including a 50 foot flare were observed while drilling the horizontal section prior to pulling out of hole.

today

measured depth 16,178

progress for week 939 feet

the well had reached a measured depth of 16,178 ft which
equates to approximately 4,350 ft of horizontal section within the Austin Chalk.

The well has continued to produce gas whilst drilling, with regular intervals producing strong flares with back pressure on the well. The rig has consistently measured gas readings in excess of 2,000 units.


imho the well is consistantly drilling in the chalks formation and the well continue to produce gas whilst drilling.. trying to see where this report is negative, despite the massive pric drop in adi throughout the drilling, i am still convinced the people selling are not understanding that the reports are actually very good and imho you cant judge this well as a dry hole, i know the sellers are thinking it obviously must be and bailing, but i believe the kowalik well may be misinterpreted by the shareholders who are selling this share down every week..

imho the adi share is undervalued and the outlook on kowlik is nothing like what those who are bailing out think..

good luck to those selling and i still believe those buying are perhaps understanding the reports better

"strong flares with back pressure on the well".. does not usually equal a dry hole..