Strong price = Well 6-1 hints of SUCCESSAs all of you know, it is literally IMPOSSIBLE to contain leaks. There are many people working on the RECO drill site and, many people talk. There are insiders. There are institutional holders. There is the 10% owner and all of their employees. There is the Nambia and, Botswana government. There are the environmentalists. There are the farmers.....
We are 40 days into drilling with another 15 to 18 days.
Reco already stated that they found 440 feet of oil and gas at the top part of hole 6-1. If the lower formation is not a continuation we would have known by now through LEAKS as people cannot keep their mouths quiet.
The fact that we are maintaining a strong price near the $ 9 price, tells me that we are SUCCESSFUL, the alternative would have been a plunging price on no news.
My own simple logic tells me, we are drilling into a 30,000 feet basin which I equate to a bathtub like you have in your house. We drilled the side walls of this bathtub in hole 6-2 and found 3 sections of 220 feet each of sweet oil and high gas.
We drilled top section of the bathtub in 6-1 and, we found triple the oil and gas in the top part section of 660 feet of oil and gas.
When I fill my bathtub with water, the water rises to the top. If there is water at the top of my bathtub it is reasonable to conclude that there is water deep down in the bathtub.
The same logic flows here. The oil and gas flows to the top therefore it reasons that there is oil much lower below, how else would the oil flow up?
Now we are not drilling beyond the bathtub, therefore the logic of it being dry does not hold. We are in the same bathtub, same basin #1.
mpo