Grayhairs and all,
I finally heard from my drunken buddy down south.
As reported earlier, they did regain circulation in the second sand and commenced drilling today. Unfortunately, they lost circulation again, upon entering another highly permeable sand horizon. I do not know how far they managed to drill.
Anyway, there was apparently an extensive "meeting of the minds" this afternoon, with conference calling spanning the globe.
The decision, so I am told, is that they are going to regain circulation once again and log the well, to evaluate the first sand and the top of the second sand.
They will then continue to drill, sticking to the original plan.
I am guessing that they want to log now, because every time they lose circulation, they suffer a little formation damage and probably a little caving (the rock comprising the walls of the wellbore begin to crumble due to fatigue). This makes it harder for the measuring instruments in the wireline tools to obtain accurate readings, and accurate readings of the uppermost sand are critical at this stage in the game.
Anyway, that's the latest from my source, who is so far batting 100%.
Read into it what you will, but I think that some brokers, notably the Canaccord one, have jumped the gun, listening to rumour. They started the panic sell on HTP this afternoon.
It seems to me that these brokers get everyone to panic buy and then to panic sell, making money on all the transactions, because the average investor doesn't have the time to be well informed of the play. The average investor depends on his broker for such knowledge, foolishly, in my opinion.
As Grayhairs pointed out, our guys have done amazing things in the last 4 days, and we have learned a lot.
As the CNBC motto goes, "profit from it".
Regards,
S&P |
