TSXV:ART.H - Post by User
Post by
discern1on Apr 07, 2011 5:31pm
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Post# 18401463
Net Pay
Net PayThey mention that the top of the Shiranish is at 3420M they have drilled to 3558M.
Total drilling in the Shiranish which is the target or prize is 138M.
Notice that they released a possible 143M of net pay.
My take on this press release is that they are hitting oil in the Shiranish, just like they had assumed all along and the results are positive enough with increasing flourescence that they have to keep on drilling to a depth that exceeded their original estimate.
If the interpretation of the seismic wasn't so awful, we would all be quite happy hitting the prize now. Unfortunately, many of us have been sitting on our hands for the last year+ waiting for news.