OTCPK:WSRLF - Post by User
Post by
parachutiston Aug 26, 2012 10:54am
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Post# 20261707
VST.V (VAST) study case in KURDISTAN
VST.V (VAST) study case in KURDISTAN I urge all folks to study VST.V case.
Vast Exploration also cultivated high expectations to its shareholders one year ago....
Unfortunately the drilling results were disappointing and the wells proved to be non-commercial.
I quote...just a friendly reminder to the new comers in the oil patch....
I m just a fundamental investor who prefers the established producers than the exploratory speculative ventures.
"....announces that the Company has concluded operations at the Qara Dagh 01 exploration well. The well has been drilled to a total depth of 4,196 meters, the maximum depth possible with current drilling equipment, ending in the basal section of the Upper Cretaceous Shiranish Formation. Open hole image logs have positioned the well on the North East structural flank of the Qara Dagh anticline, approximately 400 meters east of the anticlinal core.Oil shows have been encountered over a gross column of roughly 955 meters and open hole drill stem tests were conducted in the Shiranish Formation with cased hole tests completed in the overlying Upper Cretaceous Tanjero Formation. All zones after acid stimulation successfully tested light sweet gravity oil (ranging from 43 to 46API @ 60 degrees F) but at non-commercial flow rates. Reservoir permeability and encountering low fracture densities are the principal causes for poor flow rates......."