Hotrock wrote (quoting vretss): "jwi huge oil shows"
It's news to me and most likely news to CTP and JH in particular since he had to famously retract his announcement of "Oil flows likely" to tell us that no HYdrocarbons encountered!! then you say.... --------------
Hotrock, that is completely wrong. JW1 didn't flow to surface under it's own power. The Oil shows were still there, there is an unknown (or unreleased) reason that it didn't flow. Many reasons have been discussed here as to why the oil didn't flow. That doesn't mean it's not there, and JH/CTP never released a documents saying that no Hydrocarbons were encountered at JW1 - Just that it didn't flow to surfarce (freely, and without fraccing).
It is my understanding that JW1 could still be a producing well - it might need fraccing, or a donkey pump, or both, or other work.
- Karl
CTP Price at posting:
25.0¢ Sentiment: LT Buy Disclosure: Held
