RNE 3.17% 6.1¢ renu energy limited

gdy problems with drilling, page-2

  1. 3,567 Posts.
    That matter will cost the company an extra million or so to resolve but it's just the standard problems these drills go through. A small delay, the big news will come when they start trying to fracture the granite. Good news so far is that the high pressure/heat/cracks found to date are very encouraging. Not a stock to put all your money in but with the upside a 5-10k investment could be worth a house at christmas. Just think of it as a trip to the casino with the odds in your favour.

    The market is pricing in a less than 5% chance off success but the facts are as follows:

    1) Heat in granite more than enough to have the "biggest" oil find ever (equivalent in energy terms that is).

    2) Pressure is high enough for stimulation to work.

    3) Proof of concept has been proven in France with successful stimulation in granite rocks.

    4) The geology indicates that the granite where GDY is drilling will fracture horizontally and not vertically, this is essential for the concept to become reality.

    Anyhow, no great rush to get in, just keep on the watchlist and if you want exposure buy a month or so before they start hydrolic stimulation. You can bet alot of traders will get eager just before this starts as with all similar companies.

watchlist Created with Sketch. Add RNE (ASX) to my watchlist
(20min delay)
Mkt cap ! $6.691M
Open High Low Value Volume
6.3¢ 6.3¢ 6.1¢ $1.038K 17.01K

Buyers (Bids)

No. Vol. Price($)
1 47909 6.1¢

Sellers (Offers)

Price($) Vol. No.
6.3¢ 48192 2
View Market Depth
Last trade - 14.05pm 14/05/2021 (20 minute delay) ?
RNE (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.