Gents an interesting discussion on the 'Gas' kick. Thanks.
I re-read the announcement again - and to quote: "Neon Energy is encouraged by the presence of gas encountered in the zones drilled to date. The presence of hydrocarbon gas bearing formations will be confirmed after collection of reservoir samples during wireline operations, while reservoir deliverability will only be determined by production testing"
The rig will have some form of gas detection unit (probably through the mud system) and will be able to determine (a rough) gas composition (CO, CO2, CH4 etc). I have to believe that if they said "encouraged by the presence of gas" they have to mean CH4 - I do completely understand that it is premature to make a definitive call without full logging and (side wall?) samples, hence their word "will be confirmed"
What do you guys think?
NEN Price at posting:
30.0¢ Sentiment: Hold Disclosure: Held
