Spot on I reckon Chill. Just gotta get this clean up outa the...

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mandurah

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11/07/14

20:42

Post #: 13648373
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Originally posted by chillam ↑

Notwithstanding my attempted levity and poetic license above, for this mill & cleanup I think your on the money mandurah, that there is absolutely no reason to be selling at this stage.

Ron and team have managed this well straight from he text book, using top notch contractors - a model example.
We have gas shows from drilling to TD onwards - a very important indicator.
And over-pressure - also a good sign (once it's managed).
While progress is a little on the slow side it has been managed cautiously and safely.
This well is still a learning experience more than a producer. Though if it does produce all the better.
Once OEX learns the keys to successfully fraccing the Cambay it will be the green light for a full field development plan.

What would be good to find out are things like gas composition, porosity, permeability and pressure drop-off rates, sustainability of flows etc But all these tests will be over coming weeks - results sometime probably late August.

Once we have flow back and commencement of testing, it would be timely for an some anns re plans/progress on the GSA front.

Like mandurah says, once we get the big good "clonker" ann, next week(?), I really think we will see some good price action flowing. Maybe that's when we'll also get to find out more about Magna's intentions.

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Spot on I reckon Chill. Just gotta get this clean up outa the way and I reckon the SP will
run a little {a lot?} prior to flow testing. Magnas intentions and the SP will be revealed
before initial flow rates are announced imo. Always "leaks" prior to any official announcement
of flow rates. We hold tight in the rational belief that clean up can be achieved without any disasters

GLTAH

OEX Price at posting: 12.0¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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Spot on I reckon Chill. Just gotta get this clean up outa the...

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