Calm is a virtue when it comes to OIL discoveries scyther1 Since...

Calm is a virtue when it comes to OIL discoveries scyther1

Since the well is very remote and has been a total time disaster in terms of drilling success, isnt it any wonder the price has fallen 3 cents in about one week.

BUT Im amazed that on Monday there were over 8 million share listed for sale, then the next day only 6 million. Looked like manipulation to me!
What - do those things happen with JKA shares? And that number stayed roughly the same today Wed 25th.
But obviously there is no news, I coudn't even get a reply from the JKA officers today when I called them, they must be to obviously closed lipped for some reason???

ANYWAYS - If all has gone to plan (Finally?), then they NOW are testing FLOW and PRODUCTION numbers.

What is significant is they have have an OIL find in all probability in the thousands of barrels a day. Highly likely in excess of 3000 barrels/day and more???

This WELL would be an outright disaster at $75 million, but if those fractures are the right ones then with a total depth of ABIOD about 200-300 metres all looking good on the 3D seismics I think they (JV partners) will be very happy once production numbers are out.

For now all said and done they are 99.9 % there, OIL present and few desperate sellers.
So what next?

Any experts out there like to comment on the COE picture with the big resistivity spikes at the end of the hole. They must be significant because this is where they have had OIL shows but they are ACID stimulating here. Perhaps they COE are getting excited about this area of stimulation. Any comments???
JKA on the other hand have a completely different diagram without resistivity???
Anyway if ACID stimulation has been a success RESULTS out any time me thinks.