RE: Remembrt How The NR startsVery misleading post by you.
The hole was drilled so you automatically think this means they hit commercial oil . Read the news from QEI and see how their shareholders got blind sided . NOG may have oil but nothing is certain until the flow test. . The smart money waits until results are released and don't buy on management speculation or glossy news releases. The volume yesterday tells everyone who knows such things the smart money is waiting.
Nov. 22, 2010) - Quetzal Energy Ltd. (TSX VENTURE:
QEI
The Upper Mirador which has the majority of the indicated oil pay onwell logs has not been perforated or tested as at this time
(Marketwire - Dec. 16, 2010) - Quetzal Energy Ltd. (CDNX:
QEI.V)
Cased hole Drill Stem Test Summary
DST #6, Upper Mirador,perforated 14,229 - 14,249 ft and 14,256 - 14,262, 26 ft: Theperforated interval produced 100% very fresh water, with an averagesalinity of 516 parts per million, at rates in excess of 2,000 bbls perday. The presence of very fresh water in the Upper Mirador exemplifiesthe challenges of well log interpretation; both fresh water and oil areelectrically resistive.