LKO 0.00% 0.2¢ lakes oil nl

EVO12, it all looks a bit fluffy to me. However, it does give an...

  1. 200 Posts.
    EVO12, it all looks a bit fluffy to me. However, it does give an indication of gas at depth which LKO hadnt told us before. It shows multiple gases...5 spots where the well bleeds from. This in its self is a good sign...It doesn't have to rely on one fracture.

    I am hoping that more info will come. The ann was not price sensitive and was more of a general update. We still need more technical data to come to the market.

    If what I read and understand correctly, I would say that W4 is on a winner but needs more time. How much time is like a piece of string but I would only hope its in Q1 and not Q3. The estimated 8.8 million cubic feet per day (mmscf/d) estimated cumulative production after fracture stimulation (if all prospective zones of interest were to be fracced) will require third party intervention and more money.

    Also, drilling another well close to W4 doesn't humour me at the moment. But on the upside of that, it could be a good thing.. Just wait and see. I just hope LKO has the cash for that and not go back to us shareholders.

    W2 still looks to be a mystery. Its seems to be getting better as time goes. Not sure about this one. As the ann stated "This graph shows the increase in gas flow and shut-in pressure over the testing period from October 2009 to January 2010." This is another wait and see in my view.

    W3 is a duster!!
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