WISR Ord Shs V.WZR

Response from IR

[OceanRanger1]

Since it didn't look like anyone on this board could answer my question I made a call to Lisa at IR to find out. I kept her on the line for quite a while - I have so many questions.

This is what I found out:
 
Initially she said there would be no test results from the Gulneri at all but I knew she misunderstood my question. When I asked specifically if they were testing any samples from the Gulneri to determine the source of the pressure she was stumped. She is very knowledgable but I was excited when she said she would consult the technical team to get an answer for me. She would call me back with the answer.

It took a few hours but she finally called back. The technical answer to my question is that they were unable to obtain samples of any kind from the high-pressure zone because the drill rig is on some kind of cruise control and as soon as it encounters a high pressure zone some kind of safety valve seals the bottom immediately and completely automatically. Wham the valve slams shut as soon as it hits the high-pressure zone.  

So now it's like the three little pigs hiding in the house while the wolf is huffing and puffing to blow in the door but our door held. So the bad news is they couldn't open the door long enough to get a sample because the big bad wolf was still at the door but we still have our house and we are still alive. So no clues from the Gulneri for now.......but I think the deep zone was the primary target.

Target depth for this well was actually below the Gulneri but it was much deeper then expected and the pressure much greater then expected. The Gulneri is what she called a seal and it is not the target. The target is below the Gulneri and it is still on their wish-list to drill and test the deeper zone which has been a productive zone on other concessions.

There is no possibility of pursuing the deeper zone at this time. It would have to come at a later time. There are several challenges that need to be overcome before they can re-visit the deep zone but it is on their hit list.

She said the side-track will be 4-6 weeks and that they hope to have all the testing complete before the end of June. She said that they will release the results zone by zone as soon as they are done and it could possibly go beyond the end of June if the testing isn't complete.

So from the last release 4 weeks out puts us to mid-April at the earliest to complete the side-track then maybe we see results as early as the first week of May. One thing if you take her time-line then at 6 weeks for the side-track she has still allowed a further 8 weeks until the end of June for the testing. That seems a long time - could it be that they have so many zones to test that they anticipate up to 8 weeks of testing? Just a thought.

I asked her about the video clip from BTV and she said that was the Kurdamir rig in the video. That is a great clip if any holders haven't viewed that it is well worth watching. If not for the militia guarding the drill rig from fortified pill-boxes it could easily be a country scene from Canada with nicely fenced farm fields and sheep grazing all within a short distance from a paved highway and our drill rig right there. Definately not a war-zone.

We have some time so there may still be opportunities of weakness ahead. Watching the trading all day it's like we have no buying support at all but the sellers are stubborn. Almost every trade went to the ask all day. I have decided to top up my position but I want something below my 78c average. Will someone please hit the sell button. 

I know I have had private messages from others on this board who told me they are also way too deep on this stock and they have their spouses all-in too without their knowledge. Your gonna get lucky every day for the next year or the couch is your new permanent bed depending on the next news release.
 
I know we have weak links out there so I sit and wait for my opportunity to pounce on some shares below 80c. All it will take is a few wives to find out what they have, hit the sell button and because the bids are so thin it's lookout below where I will be waiting with my hands open. Come on ladies you know you want it.


Show me the money!



OceanRanger