goldielockandthethreebears
08 Aug 2015
Re: Och Aye the Noo ! Oilman77, are you suggesting that by this coming Monday they might be at the reservoir depth?My understanding, and I have been known to be wrong, is that they expect to reach that depth after around 2 weeks. As the well was only spudded a week ago then should it not be around another week before they reach the depth of the reservoir?In a way I hope to be wrong, as that means I don't have to wait so long for the result. My personal thinking is that it is possible that they may have encountered hydrocarbon shows by now and that rumours of such things may well abound next week. If they have encountered hydrocarbon shows in the cuttings then this would be a positive indicator although no guarantee of success.Either way not long until the result. Good result would of course be fantastic!
Oilman77
07 Aug 2015
Och Aye the Noo ! Hawkeye-1 operator Otto Energy: "We will use standard drilling practice where mud and cuttings are returned to surface, we will use LWD (Logging Whilst Drilling) tools that indicate what you are drilling through and if we need further information we are able to run traditional wireline tools. If we have indications of hydrocarbons on the logs, we will then likely run a MDT tool to obtain further information about reservoir quality and fluid composition""It actually quite unusual that you would production test an exploration well of this nature, it costs quite a lot to have the equipment on stand-by in case you find hydrocarbons and it doesn’t tell you a lot more than you can gather from the wireline and MDT information these days""There is no news to be gathered between now and the reservoir which will be drilled into in the coming week and a bit"Q : Can you clarify if we will be informed if gas is detected ?"Progress through the reservoir section will be quite quick. Once we have log data we will announce that to the market. There isn’t going to be a difference between going through the gas cap and any potential oil leg as they are in the same target reservoir interval. We will announce the log results once we drill through the target reservoir"Q on RMP rns due :"Red Emperor will issue a release next week updating on progress with drilling. All I expect that they will say is that drilling ahead in the 17½” section or cementing in the 13 3/8” casing. If there is any material change in plans, we will update the market accordingly, but from here it is fairly routine operations to drilling to about 50 metres before the reservoir""The key activity is when we drill the 12 1/8” section into the reservoir""If the well is successful, a follow-up campaign will be planned to appraise and bring the field into production. It will also tell us a lot about the potential for surrounding prospects in the SC55 licence to be prospective for similar discoveries". __________ __________ __________ ____you traders out there good post last night on lse board not far off mark where we are based on available info thanks Bmac.On a speculative guess based on were we where on Monday last and the work still to be done I think it unlikely that the 12” drill will be ready to roll much before Sunday (Manila time), Monday (our time), give or take a day. They then have 50 meters to drill to the top of the reservoir and a further 100 meters into the reservoir, logging as they go. Matthew Allen said, the results of the data for this section of the reservoir would be released to the Market as soon as they have them. They will confirm or otherwise the presence of gas in the upper section and if it is there is oil below it. If gas is confirmed here then everything below it is a bonus as far as I am concerned. My guess is that it will be Tuesday (Manila time), Wednesday (our time) before Otto know what they have in the well and that probably translates to Thursday (earliest) for the associated RNA. As I understand it; if they are still logging hydrocarbons beyond this point then they will continue drilling and logging as the go. If more information is needed after this they may wireline log the well but that will take more time and money to do. Music to all our ears if wireline is thought necessary...Bmac
Ugly Truth
07 Aug 2015
Re: Otto CEO buys more shares So OTTO's CEO has bought £4K worth of shares.I have very little disposable income these days, yet even I managed to purchase another £750 at just under 5p ready for lift off...before it sank back down again to 3-4p...of course it did. It's the story of my life. Lolz.I confess I'm hardly giddy with excitement that someone who knows what's going on has spent £4K on some more shares. He probably spends that much on an evening's entertainment.Hold, hold, hold.
Oilman77
07 Aug 2015
Re: Otto CEO buys more shares I wondered if you would take the bait in RNS tuckman1, hooked !
Tuckman1
07 Aug 2015
Re: Otto CEO buys more shares I like the `Big Dreams` nameIt is either perfect timing or he has been juicing this up with little bits of spin in these last 2 RNS`s Lets hope for good news this weekend
Oilman77
07 Aug 2015
Otto CEO buys more shares Haweye-1 operator -Matthew Allen CEO Otto Energy [link]
Tuckman1
06 Aug 2015
Re: Sneaky, Sneaky Not that anyone would de-risk a little if we ever do get to double digits!!!!I guess it will depend on if OTTO release a `material` RNS and halt trading. If it is good and they have sneaked a little hint in on that RNS then IMO no de-risking needed and let the wave of relief pass over!!!!IMO no RNS this weekend or early next week then `squeaky bum` time
cantstandfools
06 Aug 2015
Re: Sneaky, Sneaky Hi SS Its usually the case for a tree shake or walk down before good news is released, we need to be careful obviously weve all been nutkicked enough with AIM, but the drill has a great chance of finding something and with the state of the art equipment being used maybe its progressing a little bit faster than some might think.Now up 18% as i type its going to be very interesting to see what a gas RNS mid drill will do for the SP if indeed we get one.Fingers crossed.csf
Shareshopper1
06 Aug 2015
Re: Sneaky, Sneaky Very sneaky indeed BF but in a good way....This would be a fantastic boost for many if it came in. Funny how the mms dropped the sp day or two before.
IvestorOl
06 Aug 2015
Re: Whats this? 'What's this?' In my experience with this share, nothing much! Although could be different this time, still holding and hoping! GL all.
BILLFISH
06 Aug 2015
Sneaky, Sneaky Hi Guys, I know Otto indicated that they would not be saying anything about the drilling campaign for the first 10-14 days.However last night they announced that they had joined the Aussie stampede into the North Slope in Alaska and the announcement included the following text."Otto has taken this decision following drilling progress to date at the Hawkeye-1 exploration well and the recently completed SC55 farm-in option agreement with Pryce Gases Inc., which have collectively de-risked Otto’s short term capital expenditure program"They seem to have taken the opportunity to indicate things are going well at Hawkeye.GLABF
cantstandfools
06 Aug 2015
Auction the looks of it.csf
Thecheggy
06 Aug 2015
Re: Whats this? 17% - Come on RMP!!! 3+ years of waiting... Ave of 4.7p.. COME ON.
Thecheggy
06 Aug 2015
Re: Whats this? 15% up... This could really rocket if there is a leaky... Fingers crossed a big gas leak!!
cantstandfools
06 Aug 2015
Re: Whats this? Would be fantastic if it is the first signs of GAS discovery, fingers and toes crossed everybody!csf
