1. Most Discussed
  2. Gainers & Losers
HDR 0.0¢

the story so far......

  1. the4ls

    174 Posts.

    Here are the facts on Chinguetti:

    Chinguetti 1 - 120m gross oil column
    Chinguetti 4-2 - 94m gross oil column
    Chinguetti 4-4 - 114m gross oil column

    Reservoir sands were excellent quality with net to gross ratio of 25 to 40%.

    The latest well:
    Chinguetti 4-5 - 100m gross oil column

    Reservoir sands were good to excellent quality with net to gross ratio of >=38%.

    In anyone's terms these results are bloody marvellous and the flow rate from the production well, now that the sand inflow is being taken into account, will be no problem.

    Leafcutter has supplied yet more valuable information about the North Perth Basin block, after all it did find hydrocarbons and gas but the reservoir sands were too tight....not exactly a failure.
    The well was drilled with Hardman's Logue rig so was cheap as chips and worth the money spent to increase the knowledge base.

    If some of you guys expect oil companies to come up trumps on every well drilled, then you are going to be sadly disappointed most of the time.

    The good thing about the drilling in Mauritania is that the joint venture are utilising very good quality 3D seismic data to pinpoint the drilling targets which increases substantially, the prospects of success.

    The results so far from the early appraisal well are exactly what were expected, proving up a spectacular discovery, and giving confidence that financial backing is simply a tick in the box.

    Also don't forget the similar exciting prospects in Uganda and Gabon which will be drilled very shortly.

    I for one will be taking advantage of any pull back to top up my already considerable investment and look forward to the future.

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.