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WISR Ltd V.WZR


Primary Symbol: WSRLF

Wisr Limited is an Australia-based neo-lender company. The Company provides a collection of financial products and services. The Company is engaged in writing personal loans and secured vehicle loans for three, five and seven-year maturities to Australian consumers, and funding these loans through the warehouse funding structures. It provides a Financial Wellness Platform underpinned by consumer finance products, the Wisr App. The Wisr App helps Australians pay down debt, multiple credit score comparison services and Australia’s first money-coaching app Wisr Today. Combined with content and other products that use technology to provide better outcomes for borrowers, investors, and everyday Australians. The Company’s products include loans, credit scores and round up. Its credit score is a summary of financial habits, and helps lenders get to know its customers. Its loan products include debt consolidation loans, car loans, medical loans and others.


OTCPK:WSRLF - Post by User

Bullboard Posts
Comment by Dirdrilleron Feb 24, 2010 9:40pm
485 Views
Post# 16817574

RE: RE: RE: RE: RE: Well Control

RE: RE: RE: RE: RE: Well ControlBy the by, I dont mean to pick a fight with the enthusiastic crowd but overpressure does not necessarily mean oil or gas or water.

Godfrogger.  You only have pressure if you have either oil, gas or water or a combination there of. If you only have a permiable/high porosity zone with no liquids or gas it's would be the opposite of overpressured and be extremely underpressured or in laymens terms it would suck up all the fluid you could through at it until it had it's fill, which may be never.  

Your correct about hole caving in in the overpressured zone though.  They must have drilled into that zone with insufficent mud weight to hold back the unknown formation pressure.  This usually happens when you drill exploration wells, especially an exploration well in that area.   Hopefully after they get this thing under control they won't have to sidetrack, but like you,  I think they will and it will be only to just get the 7" liner to bottom, not because they got oversize hole.  You can still get a good wellbore test with a cased (7" liner) oversized hole.

One good thing about this current well control operation is that they will know exactly what the formation pressures are and so if they have to sidetrack they will know exactly what mud weight to use to hold it back next time.

I just hope it's oil that's causing the pressure and not gas or water.
Bullboard Posts