not all doom and gloom

While there have definitely been some set backs I do not think this is all doom and gloom.

It was -20C in Bismil Turkey earlier today.
So I can certainly understand why they are having trouble drilling.

Fortunately not the usual weather.
But not completely rare either. So further weather delays are possible until the end of February

For those people with short memories this was trading at 60c just on Sugarloaf.

Sugarloaf I must point out is awaiting flow testing, and may or may not be productive.

If the rumours and leaks from Couch Oil and others are to be believed then Sugarloaf will be productive.

The well in Turkey in my view is far from dead.
It would appear water flowing into the well is a very common problem in the area and has caused quite a few headaches for all producers in the area.

Steam, Carbon Dioxide and even Gel injection, has assisted in enhancing production in the area.
Injection also helps reduce water inflows.
The hole is waiting Acid Stimulation, and could easily be economic from the 5m pay.

The primary objective is still to be drilled, and remains 1-200m below the current drill location.

We are in the laps of the petroleum gods.