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SNE-2: rig arrival, page-51

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Davy Boy

16,357 Posts.

3858

05/11/15

07:57

Post #: 16328336
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Originally posted by whisky49 ↑

If one was wondering why "whisperers "are getting excited, its not because they know any more than you and I, it's just because they take notice of whats being written and said and then often blow it out of proportion, in this case with reasonable odds of being correct...

Management won't give them anymore information than given in public already but they will impart enthusiasm which will be picked up on...

Below is a very important little Jem from a recent update which combined with the known fact that the arial extent of SNE has grown since they re processed the 3D and added to the fact operators like to be conservative in their estimates, tells you that the SNE 2C results, given success, are likely to be larger than originally stated. We also now know that SNE has two look a likes on the same trend and the amplitude conforms to structure, then sitting on these Elephants is Bellatrix.

The disclaimer in all of this is untill a drill goes into these formations and they are tested ,nobody , including the JV will be certain of results.

"FAR believes there is additional net pay and resource potential not included in the preliminary assessment of contingent resource estimates for the SNE field. This includes thin bed reservoir sands that, RECENT DETAILED POST WELL ANALYSIS has indicated encouraging reservoir characteristics" ...Capitals are mine...

That is as close as CN can get to showing excitement untill testing is finished, those comments won't be made lightly but tell you everything she can within the constraints of the JV and being a responsible MD..

These thin bed reservoir sands will be very important for SNE 3 and BEL 1 as out there where they are going it's all they have I believe, as we know the thicker sands plus the thinner sands have been entered by SNE 1 and will be tested by SNE 2.

Cheers Whisky

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I believe I read somewhere Whisky that they can extrude oil from very thin sands 10 cm? Every little bit will count. Not long now and you will be able to see more than the trunk of your elephant. DB

FAR Price at posting: 8.3¢ Sentiment: Hold Disclosure: Held
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SNE-2: rig arrival, page-51

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SNE-2: rig arrival, page-51

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