re: oil strike!! Can't understand why price didn't go up. Wonder...

re: oil strike!! Can't understand why price didn't go up. Wonder if market still digesting the report. Could even have the jitters on reading "drill string became stuck at the top of the drill collars."

But in my opinion announcement is good...

++Drilling has reached 8325 of a 9100 foot operation.++
++First objective reached.++
+++"several high resistivity porous intervals over the shallow target horizons."+++
++"Sidewall cores were recovered over the zones of interest which confirmed porosities in the 25-30% range and permeabilities ranging from 100 mD to exceeding 1000 mD."++
*****"Sidewall cores recovered contained visible oil of 34 - 38 deg API quality."*****
++"The operator, CLK Energy, Inc., has advised a preliminary oil saturated pay interval of 219 feet (67 metres) gross with net of 74 feet (23 metres) in 3 zones."++

From my understanding the API quality of light crude Brent oil is 38.3%. If that's anything to go by, then the quality of the oil in VP#1 seems good.

I guess we just need the market to wake up to this one and announcements in plain layman's terms.

Pol.