RE: superdave Ellen.. the comment about oil being found in the (2K-39) wellbore was claimed by management in a shareholder letter dated 2010-08-12 ...
The new 2200 meter well (designated 3K-39), is a follow-up to the 2008 discovery, of an approximately 500m thick oil-bearing section in the Green Point shale formation. While drilling this section with an overbalanced drilling fluid column, this formation produced approximately 54 barrels of oil into the well bore, indicating that the Green Point is capable of producing even without being subjected to the stimulation techniques which are usual in shale reservoirs.
and later rescinded in a January 28, 2011 NR...
As part of this program, we have examined closely the information provided by the 2K-
39 well. In the course of so doing, it has been noted that certain statements to the effect
that 2K-39 flowed some 54 bbls of oil into the wellbore are not substantiated by the well
records. In fact no oil flowed from the formation into the wellbore and the well was at all
times under control. The source of the oil which was observed in the mud was from oil
liberated by cuttings from the thick oil-bearing shale being penetrated by the drill.
Miss Information is well paid by this company.