Anyone here with knowlege onI would like to hear from someone here with knowledge on the drilling at Endeavor. I was just rereading a press release from a month ago and I am trying to make sense of it. Heres a clip from this Endeavor article:
“The seismic that we shot confirms the existence of 50 metres of anhydrate and salt, which we feel acts as a seal for the oil. Furthermore, the 1958 well was drilled on a low, whereas our location is on a structural high, another thing that gives us optimism.”
Now I am curious about:
A) How deep is the salt and anhydrate located? It mentions that there is 50 meters of it but is that from surface down 50 meters or is the salt 1000 meters down or what? I would like to find out what the dynamics of this hole.
B) What does it mean by drilling on a low versus drilling on a structural high? I really would love to know what this really means. Anyone who has knowledge of what these technical terms mean it would be much appreciated.
I am thinking that we are now into this project by two days worth of actual drilling. There is a good chance that we may hear something tommorow if oil is found. I would love to hear some news say midday tommorow so that shareholders have the chance of picking more up before the weekend. As well new investors can also get the opportunity to jump on in first thing monday morning. This may be the optimum situation for NOG's share price.
Lets just hope that we do in fact make a discovery as it would sure make for a nice christmas present for many here.