What's janejane saying???Sorry if this a bit long winded...
Don't be too quick to prejudge janejanes comments - this posters input is as grey as some of CIVC latest posts. Janejane does have some valuable info to remind everyone of. Firstly, the timely repost of the Sept 27 release simply states CIVC was going to test and evaluate the Caprock Table point Formation, which is immediately above the primary zone, the Aguathuna. Janejane then quite correctly reminds everyone that the sept 27 NR states "It is anticipated that the well will be in the reservoir by next week." Next week came and went a long time ago. Then, in the Nov 21 NR, CIVC states "The 7" liner in the Port au Port No. 1 Side Track, which is set above the reservoir ((the Aguathuna, Hubbie thinks)), has been successfully tied back to the 9 5/8" casing and drilling operations have resumed." This to me means we are now at least 3 weeks beyond what the Sept 27 NR stated. In addition, the Nov 21 NR goes on to state " The well will log and test two additional targets before reaching total depth. It is estimated that these operations will take approximately three weeks." this to me is confusing - if the Aguathuna is the target for TD, what the #ell is (are) the additional target(s)??? Also, if they are going to test and evaluate the additional targets BEFORE reaching TD, how long will it be before they test the primary target.
I for one am getting a little bit perturbed at the NR's that CIVC, and numerous other junior O & G companies put out. It's difficult to read between the lines and figure out what's BS and what's not. Then again, being long at this point in time, I hope that what CIVC is not putting out a line of BS.
Sept 27
Currently, the well is at the intermediate casing point and is preparing to run logs and set the 7" casing at approximately 3490 drilled depth in the Caprock Table Point Formation, just above the Aguathuna reservoir. It is anticipated that the well will be in the reservoir by next week. The company will evaluate the reservoir with a comprehensive suite of wireline logs followed by Drillstem Tests. The Drillstem Tests are designed to provide information on the flow of reservoir fluids as well as reservoir pressure date. These tests will be of shorter duration than the long term flow testing conducted by the Company on the original Port au Port No. 1 well earlier this year.
To date, operations on Port au Port No. 1 Side Track have proceeded efficiently and the project is ahead of schedule. The well has been directionally drilled through a window cut in the 9 5/8" casing of Port au Port No. 1 at approximately 2340 m drilled depth. The target Aguathuna reservoir in Port au Port No. 1 Side Track is approximately 350 m away laterally from the equivalent horizon in Port au Port No. 1 and is expected to be higher in the Garden Hill structure. To date, all horizons have been encountered as prognosed or slightly higher.
Nov 21
The Company is pleased to report that all necessary repairs to the 9 5/8" casing in the Port au Port No. 1 wellbore have now been completed. The 7" liner in the Port au Port No. 1 Side Track, which is set above the reservoir, has been successfully tied back to the 9 5/8" casing and drilling operations have resumed. The well will log and test two additional targets before reaching total depth. It is estimated that these operations will take approximately three weeks.