lots of time for XT to run this week!like with any stock people sell on news. Patients is the game here. XT will rise by Wednesday to over $3
on another note, another company still at ground level ( just trying to return the favor on the XT stock tip)
drilling off shore NFLD, news on reserves should be released shortley
in brief the scope of the size of play they are looking at.
"Canadian Imperial’s main exploration focus is the Shoal Point prospect. An independent consultant estimate (non-NI 51-101
compliant) of the prospect indicates a P10 oil-in-place volume of 526 million barrels of oil (mmbbl) and a P10 recoverable volume of 226 mmbbl. In March 2008, Canadian Imperial with its JV partners (Shoal Point Energy Ltd and PDI Production Inc) commenced directional drilling on this prospect. The drilling cost for the well (2K-39) is expected to be C$12 million.
The objective of the drilling was to test a seismically defined structure which is geologically similar to the onshore Port au Port discovery made at Garden Hill South in the 1990s. This discovery along with a side track well produced more than 22,000 boe under test in the past. "
As always do your DD
All reports under
https://www.canadianimperial.net/