SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Natural Resource Stocks
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Christopher Loe who wrote (20140)1/18/2005 11:08:43 AM
From: la.dave  Read Replies (1) of 108686
 
If I may jump in here regarding CNR.

If you analyse the FA, you may get nauseated and as far a TA, I haven't got a clue.

What we have here is a small E&P with an aggressive drilling program for '05 utilizing Weatherfords UBCT rig to drill some 15 horizontal wells in an area of Georgia that had previously been produced by Russian efforts(antiquated) with vertical wells. So they(CNR) knows there is oil there and is betting that UBCT drilling will increase production by a factor of 10. In addition to this program they are also going to be drilling 3 wells on their Manavii prospect. At Manavii they are targeting a structure that wasn't plundered by the Russians. They drilled a well(M-11) into this structure and had oil, however during testing excessive pressure caused a collapse in production casing thus bringing it to a halt. They are now sidetracking M-11, so results could come at any time. Seismo of the structure indicates a possible Elephant, the bit will be the teller of the truth.

To sum up FA sucks with recent massive dilution(which is funding this program) and TA may be relevant but as with all small E&P's it's the bit that will make or break 'em.

Yea I know, it sounds like I'm in love but really it's just infatuation at this juncture. Now if Manavii proves out, I will be hopelessly in love.

Their website provides much more clarity on their prospects.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News