re: my stirring worked!!not ! I would disagree.HDR is the the...

re: my stirring worked!!not ! I would disagree.

HDR is the the junior partner.

If you will note its 60 mins later WPL the senior partner has not even come out with the announcement. All information flows thru WPL not HDR. WPL may be a lot bigger company but this whilst being an appraisal well is signifigant to say the least WPL has not even bothered to call a trading halt or release for itself.

WPL holds 2.5 times HDR for this Tiof drilling.

The signifigance is obvious to us. However earlier this week one broker was hosing down the Tiof discovery size.

Todays result shows a very very large gross oil column now over 100 m for at least a considerable area of the tiof field. Even at the lowest possible recovery rates and actual oil content to rubbish from the holes the size of Tiof quite frankly is starting to move even my lower estimate outside what we have been told.

We now know from just two wells roughly covering 4 sq km at a minumum the gross oil leg was over 100m. So even if the nett is absurdly low at 25% and the recovery absurdly low at 25% usuaing a barrel at 0.159 sq metre of voulme what we know from 2 holes alone suggests a even being absurdly bearish from the 4 sq km patch around 150 million barrels alone.

So just remember the field covers a total of 54 sq km. The biggest oil columns and shows between them suggests the minimum for the total might be much larger than even my minimum call of 300 mill bbl. As to the top end of the size well with Tiof 6 this has been raised yet again.

Only question I have is how much more rope WPL would like. It may be bigger however finding yet another appraisal well with a gross oil column of 100 metres and them holding 50% of it, I would suggest even to the most conservative it would firm the lower end estimates of the size of the field by 50 million barrels. WPL's 25 million share represents a signifigant proportion of the current market capitlization of the company.

WPL's days of playing this game are numbered.

If you want to complain, WPL is the culprit. Just be careful as its an ASX 20 company. Then again WPL the bigger they are the harder they fall.

Each time this goes on my theory as to why WPL had been dragging the chain just gets stronger and stronger.
However the reasons behind it may be dual.

Need a few more weeks research and for some more on my pet theory. Same results however, WPL will keep dragging the chain, its just the reason or possible reasons behind it that are changing.

Its now one hour and still not a peep out of WPL.
This pattern will be stopped and this is just yet another piece to add to the pile. My thanks for your help WPL mamangement.

Cheers