CGX Energy Inc V.OYL

Here is the playbook

[nowanzen]

Apache Corporation on December 2nd 2019 posted an anemic news release stating touchdown on their exploration well next door in Suriname. There was no further news on what was discovered, how many feet, the API etc. On December 22 2019, Total dropped 5 BILLION dollars into Apache to become their 50% partner...  Just sayin'
Let's be very clear, the 71 feet of net oil pay was already identified. They have drilled a further 385 feet into their main target and have only reported
"multiple hydrocarbon shows in the PRIMARY target"
"Results from the Well are consistent with pre-drill expectations"
With 56% chance of success, their expectations are very high. AS ARE MINE!
Read all about it and note the timeline

https://www.offshore-energy.biz/apache-decides-to-drill-deeper-at-first-suriname-well/https://www.reuters.com/article/us-apache-total-suriname-idUSKBN1YR02Fhttps://www.reuters.com/article/us-total-apache-idUSKBN1Z61EC

[Hotshot85]

i agree with everything here except that they drilled an additional 1300+ feet. not 300. 1300 extra into the primary target. lets just hope those oil showing sections are THICK

[jtdd]

I thought they drilled another thousand plus feet into their main target

[nowanzen]

My bad, I check my spelling, and missed the numbers.  It should read: "They have drilled a further 1358 feet into their main target"  Regardless, they have stated that they have found what they were looking for, and they were not looking for a small amount of oil.... Hang on..

[waitingstill]

Exactly. How can they write that NR without finding what they were looking for?! Santonian going to be big. Can't wait!

[Hotshot85]

i was not trying to take a shot. Was just hoping to add context of the potential size of the primary target so some dummy couldn't come in and start bashing about how small the field was or why bother drilling another 300 ft or any other imbicilic argument