Keys Facts we know Till Date- We have a Production Sharing Contract that Iraq PM confirmed is legal. So LFD can start booking reserves of 50 million barrels (P50) to 3 billion barrels (P10) once we start derisking the asset.
- from Jeribe reservoir map, management used polygons to show the closure of the Jeribe Reservoir. What that implies is that the oil has not migrated out and so is still there! So the likelihood of hitting the pay dirt is simply high!
- we also do know that the oil is permeable with high porosity and low viscousity resulting in 40 API. In fact, among the best quality oil in KRG!
- we do also know from historical information published by the world petroleum congress that well C7 hit oil with high pressure of up to 3702 PSI. That is a lot of pressure!
-We also know that the apprisal well C8 drilled outside the reservoir limit came out wet because it was drilled outside the reservoir channel flank. This is a useful information & lesson. So management will not be placing next hole there because we have a good idea of the reservoir channel!
- We do know that the second appriasal well C9 was drilled over a period of 10 years at various depth! It encountered the full jeribe oil show and went deeper and tested oil/gas on deeper cretaceous. Due to technical challenges, the well was abandoned and the jeriibe was not tested, however, the fact that they encountered the oil shows at Jeribe was good.
- We do know that Saddan Hussein wanted to develop Chia as disclosed by Sterling Energy Resources in their London prospectus. It was in the plan and due to problems he had with Kurds, it was not implemented. As at that time, the Iraqi National Oil company assigned a 150 million barrels reserve to Chia Surkh discovery alone.
- We also do know that our parner GENEL has been 100% successful in all the blocks they staked in KRG. Maybe due to insiders knowledge of the area since GENEL is a Turkish controlled company. They are our partners in KRG and we do know that they claimed openly on their website that Chia is commercial, proven by Well C7 and has a 3.1 Billion barrels of oil in place. This is a bold statement to make publicly!!
- We also do know that LFD management has designed current well to be a producing well that will start generating CASHFLOW! They MUST know what they they are doing to have such an ambitious plan.
-We also know that Billionaire Geroge Soros is a major shareholder of LFD. SOROS rarely buy penny stocks. SO he must like what he saw in his due dilligence to buy LFD.
-We also know that LFD management has strong board and advisory group that includes former US Generals like Garner, Abizaid and others who currently advise the KRG. So it would be reasonable to assume that the KRG would wish LFD well in its dealings.
- We also know that we have $65 million warrants sitting for LFD to grab and execute its business plan if share price goes above $1.
- We finally do know that drilling will start in April to prove all these theories!
Wealthy people like SOROS are wealthy because they take calculated risk with huge upside! I am in LFD because I can see the game he is playing and why he is playing it. - To make TONS of money!!!!!!!!!!
ALL IS VANITY - WHAT ARE WE DOING IN THIS PLANET AND WHY ARE WE ON EARTH....I DON'T KNOW! SO BE HAPPY!!