GREY:RGVNF - Post by User
Comment by
redoctober777on Aug 18, 2010 12:11pm
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Post# 17361362
RE: Thoughts on PR
RE: Thoughts on PRMy gut tells me there is something not quite right with the PR.
Again, it's "half a loaf" of information. It raises more questions than it answers.
1. The logging suite is a standard "triple combo" with which I am very familiar. (your choice of fries or onion rings!). Whoopee. Yea. I'm so excited. If they were to release the logs, I can tell you if there's oil there or not. That's also suspicious. Some mention of oil saturation would have been nice.
2. So they hit the formation they were looking for. Great. Any oil "shows?"
No mention.
3. By implication we're supposed to believe that there's oil because they've set casing and are going to "production test" the well. OK. Gee whiz. And how loooong will it take to hear back from the production testing? Anybody care to venture a guess?
4. They're also 50' up dip from a "control well." Well, the control well has gravity on it's side. I think all the oil at this "up dip" location is going to be "residual" at best, meaning it's not producible except by expensive tertiary means to separate the oil from the rock to which it clings.
And because the SP is flat, my read is that the PR is intentionally misleading baloney.
I'd like for the stock price to go up, but I don't think this is going to do it.
Until I see otherwise, I'm going to continue with my "negativity" and demand to see some fundamental results.
"Red A."