CEL

1.82%

5.6¢ challenger gold limited

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haz13

136 Posts.

75

18/08/14

20:33

Post #: 13835377
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Originally posted by frackerguy ↑

Interested to read about what Robert Willes, Challenger's MD says will happen once exploration rights are granted.

Once an exploration right was granted, Challenger’s technical plan would be to start with studies, which could include reprocessing the vintage seismic data.
“This would likely be followed by drilling a limited number of simple core holes prior to drilling [and] completing and fracture-stimulating a vertical well in order to assess the flow characteristics of the different shale horizons,” he explained.
The targeted well would likely be drilled a year after securing the exploration rights, owing to the initial work required to select a suitable site, the various approvals that might be required and the need to reach agreement with any affected landowners.
“Significant investment is required along the way of course, but with an application pending for around one-million acres surrounding a well in which gas flowed to surface, the starting position looks very interesting,” Willes noted
http://www.miningweekly.com/article/challenger-seeks-partner-for-sa-shale-play-2014-07-07

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Forgive my ignorance, why can't management start processing the vintage seismic data now while we wait? I am only new to investing in stocks at this stage of their life cycle so I don't fully understand how it works. My broker put me onto CEL as a spec play and I like how the big guys are interested in the potential of Karoo. Is the company not allowed to do this research while we wait for rights then start drilling as soon as they are granted?

CEL Price at posting: 7.6¢ Sentiment: Buy Disclosure: Held
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