Great to see 'some' oil shows, could be that Oil Kitchen theory is coming good.
Hopefully this core to be taken from Surprise will shed some light on why JW1 was all show but no flow.
To me all the conjecture and doubt about this drilling program has come about because they did not extract a core successfully from JW1,in that here we are drilling Surprise in what appears to me to be very similar geology without that knowledge in the bank.
I don't believe that JH was misleading the market with the announcements as I think they were as shocked as anyone that it didn't flow. After all, Live oil shows are Live oil shows. What they couldn't then do is tell us was why it didn't flow and from what I have read since they are not alone.
As I understand that core sample could have indicated whether JW1 would ever have flowed to the surface and that it may always have only been a fraccing proposition, or not? If this is correct then the reverse is now true and this Surprise core hopefully will cast further light on JW1 which seems to have been written off by the market.
cheers billdah
CTP Price at posting:
32.5¢ Sentiment: Hold Disclosure: Held
