OTCPK:WSRLF - Post by User
Comment by
vindaloo_u2on Jul 18, 2013 11:04am
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Post# 21615535
RE:RE:How does this not move with the news release
RE:RE:How does this not move with the news releasePretty subdued initial reaction to what will turn out to be a massive upgrade (+ circa 400 million?) in contingent resources once the less porous depth flows. Not overly surprised considering the financial drubbing that most venture investors have suffered over the past 2 years (LL please). Mgmt believes this has extended LKO by 150m and the porous oil zone has increased from 118m in K2 to 194m in K3. We'll hopefully get some headline grabbing flow figures in the follow up tests with no gas cap overlap. Now that owc hasn't been reached, Baram has the potential to add nearly a billion contingent. UB was a fairly useless (we want contingent resources, not minimal flow without a market) endeavour that amounted to nothing, however, costs were minimal. The chances that wzr will have around 2 billion contingent (oil only) by early next year just increased dramatically with this update.