With the T H in place all day today Im thinking along with most aware share holders that there could be several situations at the well head. 1/ 3832m target ( Mungaroo ) reached and signs of GAS so T H announced while drilling continues to accertain the depth of the gas column.( likely ) 2/ Nothing at target zone and drilling ahead to Intra Mungaroo at 4200m depth.(likely ) 3/ Blanket T H while at target depth while in the zone of expectation.(unlikely ) 4/ Drilled the Top and Intra Mungaroo and nothing so drilling ahead to the T Depth ( too soon yet ). 5/Gear break down so T H ( unlikely ) 6/ Missed target altogether and evaluation of site before moving away ( unlikely-too soon ) 7/Drilling ahead very slowly so as to throughly examine all cuttings, debri and drill mud ( slightly likely but not expected with a experienced operator running the show )8/Oil discovery, (unexpected) 9/With the delay between the "notice received " and the T H there could have been communication necessary with head office re the t H and head office would want to have all details communicated to its interested parties hence the total T H ( likely but slim chance )
Any original thoughts welcome, . Wheres bm ?
OXX Price at posting:
37.0¢ Sentiment: Hold Disclosure: Held