Some people are talking about the supposed fact that 96% of the major oilstrikes have occurred in 4way dip closures, and that must have been the main reason why repsol came into the Picture. The inference is that only 4% major strikes occurr with the hit and miss methods!
It may just be that TRP wanted to give a signal to the Market putting the price of the new shares well above the current sp; who knows!
See that there has been na issue of equity at a price of over 5p to cover costs of services; the mere fact that they have been accepted at these prices sounds ok to me!
The net result so far with the current sp will imo induce people to increase their share of seeing it through untill the final TD is reached. If it proves to be a duster the damage will be less than has been anticipated. This all may be a blessing in disguise!
There are imo a number of options open to TRP once the results of the current drill is known. The development into a producing oilfied costs a lot of Money and TRP has wisely said that it is not going into that stage; on the other hand a type of royalty on the production of the well could be a tempting proposal. Will have to wait and see.
To me it looks that we are in the last days before serious rumours will start!
Thank you very much Geopec for the explanations and it seems that SOL is handling the drilling in the right way and corrects as more info becomes available; excelente point for buying imo!
The oilstrike off the Guyana coast had Tullow as operator with Shell and Northern Petroleum and Wessex; the last two had three percent. After striking oil Shell took over as operator. But the initial results were not confirmed. IMO no comparison with us!
Solgold has missed an opportunity to keep quiet; these kind of updates do more harm thgan good imo. All the basics are still in place and now we have to wait for assay results.
Sorry, but na interesting post on GBP mentioned na oil find during a drill done in the late 1990ties and the question seems to be now not if there is oil in this reservoir but if the oil is trapped so for my Money we are over 80% chance of a strike here!