I would guess we have a two week wait for any result.
As observed the rig has been on the wellhead for a few days.
It would be nice if ADX disclosed their test procedure as most companies do prior to operations.
I guess they set up with BOP test clean out the well, relog the well then perforate over the lowest zone.
If successful they run production casing, choke off and clean out the well. If all goes well the clean up may take a few days.
If the lower zone is a fizzer, they move up the well.
I am not an expert, but do realise the "black stuff" is in fact brown stuff and depending on viscosity may be hard to flow. From the oil retrieved during drilling, this should not be the case.
The well has 30m of good column if perforated correctly the water cut will be missed.
There is no instant gratification in the crude & natural industry. A lot of careful procedures are to be followed for an incident free well test.
As I have mentioned in earlier posts a steady flow rate for this well in the range 300 to 500 bbls would be a great result.
I would hope further seismic is conducted before step out wells are drilled. ( Current 2D seismic is minimal)
I would guess another 3 wells will be needed for field development.
As far as share price is concerned. If a successful flow is achieved my guess is 15 to 17 cents for SD1.
In the world markets at present there is not a lot of interest in equities.
Good luck. I hold ADX and XST, the latter may be of interest to Gulfsands for the offshore assets in Tunisia/Italy.
As I said before, no instant gratification in the oil & gas industry.
Cheers IFINO
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I would guess we have a two week wait for any result.As observed...
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