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10/01/18
06:01
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Originally posted by Fast&furious
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Mate all my money is here. This is a conventional play. Bottom of Well 1 hit the top of the structure and hence not much flow. Thee was talk of Ancap order drilling deeper but that didn’t happen. I guess they just wanted to start drilling on the more promising well 2. All those 2 years of survey and analysis should pay off if these people are the experts and know what they are doing. 88e was a joke when the initial MC hit $100million when the results came out. It was unconventional play and at that time the price of oil of less than the cost of extracting it. We should easily hit 10c if oil flows out of well 2. I’m betting on it. I’m sure after spending so much money and time, management should get it right given the technology that we have. Now we have further prove that the conditions are right for the oil to be trapped in the 4 way dips. Probability is 1/4 is a gusher beyond expectation. 1/2 good commercial flow. 3/4 normal commercial flow.
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@Fast&furious
1/4 = 25%
1/2 = 50%
3/4 = 75%
25% + 50% +75% = 150%
Maybe you wrote the post too fast...
I share a similar view and hopefully will see some interest over the next week leading up to the 14th. There is very little volume up to 2c and won't take much to move unless there is off screen sell supply but there certainly isn't any at the current SP.