paradox basin no 2 update ..., page-6

agreed good punter..

sunny, the report is confusing as it saying way too much and has nothing to say..

you would test a well after its drilled, you may call in a workover rig to set up after your analysis of wirelines shows some promise. workover would maybe clean up a well bore and can frac the formation if its too tight to flow, i am not researched enough on this formation to comment on frac being done normally on these formations.. fracs are very expensive and can stimulate a tight formation to produce more flow.

these reports are really getting the excitement happening as goodpunter noticed.. on a well that so far has got nothing to report.. brilliant for the current sellers imho..

"In the event Paradox Basin #2 encounters commercial gas the well will be cased and suspended and a test rig will be mobilised.."

you cannot identify commercial gas whilst drilling, you may get gas shows, or indications, and you can wireline, but to make an assessment and call it commercial whilst drilling would be misleading to say the least. the first well proved the formation was not able to produce commercial flow and the rock was too tight.. hydrocarbons were present, but no extraction of commercial flow has occurred.

this type of reporting may lead a lot of investors into believing these statements, which is excellent for the sellers... i recall the same words "commercial" were used week in week out with par 1..

no report is needed right now, but this 48 hour pattern of reporting is unprecedented and extraordinary. sensational news for the sellers that it continues really... no report was necessary and the most it should have stated was that it had been cased, the depth and that it was drilling ahead after a bond log.. 2 lines max.. everything else is hype, and misleading.

the responsibility of the directors is of course to protect the investors, and ensure nothing misleading can be drawn rom their reports, you dont want people being misguided and believing commercial gas is present. a statement like that would be months away and carefully made by any responsible director.. but this report should definitely get the sp running big time..


great news for the short term holders and better for the sellers.. just imagine the reporting if the well encounters a gas spike or gets any gas shows, which would mean very little other than hydrocarbons are present.. it will be pure theater i imagine.. but this is a great share to have been on and really brilliant for the sellers

hope you all get the run today this report should achieve..