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Strategies & Market Trends : Ride the Tiger with CD

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To: Cheeky Kid who wrote (116599)	6/3/2008 8:38:34 AM
From: TheBusDriver	Read Replies (2) of 313395

If you read the news release they are basically saying that it was a dry hole: "Our site geologist has advised us that he has found an oil film and droplets of oil in the drilling fluid coming over the shaker" You do not abandon a well and leave expensive downhole equipment in a well especially if it will be a producer. Droplets of oil ain't gonna cut it. It was dry, they just worded it nicely. They refer to "shows" which is oil talk for some hydrocarbons but not enough..... Also drilling across faults is not a big deal...they could have been stuck for a lot of reasons; the most likely being a depleted zone and the pipe became stuck differentially. All is not lost however, with the faulting it could be the oil zone is faulted out and they are on the wrong side.....I have seen a rig move 500 yards and turn a dry hole into a major oil well.....logged them both, so first hand knowledge, it does happen. Wayne

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