SOMEONE POSTED THIS ON A UK FORUM AND THOUGHT IT WAS VERY INTESTING TO READ.
The key points from the RNS are: Geological prognosis is correct, they hit Basement [hard ignaeous rock] just about on predicted depth c. 650m. That tell's us that so far they have it all about right - pppppp [proper preparation prevents p*** poor performance] They are logging, it will not take long at this depth depending on how many pressure points they are taking.... if they take a lot it's for a reason. They are planning downhole samples, most likely MDT kit they are using so they can do pressure survey/sampling at the same time. If they have the spectrometer on the tool they will be able to determine oil/water.. or oil/water contact. You dont log crud, there is likely to be something there. End-of-well-logging is normal and gives no definite pointer, it may even be a requirement of the License but this would only be a minimal suite if there was not something of interest, MDT type logging is pricey, so it's positive news. I still would not expect an RNS to clarify before the weekend but the next stage, if this is a positive would be the announcement of prepartions for testing [DST]. As TRP are not carried for testing, this would be a highly positive indication as they are unlikely to use up "slim" cash reserves on a PR show-flare. Overall, sit tight, there is no definite indicator here but news will come in days IMHO/DYOR - Geo
GBP Price at posting:
21.0¢ Sentiment: LT Buy Disclosure: Held
