'Northoil' pid='51096' datel Wrote:Re: market ups and downs and IOC leaks. (Admin and getitrt2) I recognize your arguments and know I could be wrong about the leaks, but I'll stand by it. The market didn't decline that much, and since IOC has no production, it's hard to see oil prices causing such a steep decline. Maybe it did. What sold me, though, was the last few days of trading. Several days of multi-point increases with no public news, followed by positive news. That spells leak to me. BTW, oil companies have people in their organizations with the job title of "Scout". Guess what they do?
Re: my screw-up on Bobcat - I've apologized and sorry to have wasted your time, but I did post the correction before you posted the lecture. Also, you want " Thoughts from our experts?". I pretty much are one. You're totally right that they will continue to drill the objective at Bobcat. Let's hope they find something. But Raptor is finished drilling. When you test a formation, you shoot holes (with actual bullets) in the pipe to let the fluids in. The pipe safety is then compromised and although you squeeze cement in the holes, it's not a situation you want to continue drilling in. It can be chanced, I suppose, but the safe way is to come up the hole - above the test zone - drill out a widow and sidetrack. It's crazy and expensive. No - you drill first; when you're all done, you come back and test.
Saying "The market didn't decline that much" is meaningless when you're comparing the Dow and the S&P (the "market"
to small global E&P companies, basically all of which were down much more. That also applies to the initial rebound, and "Several days of multi-point increases" is an exaggeration. IMO, the comment about oil company "scouts" in PNG is not even worth a response. The stock moves yesterday and today also belie the idea of leaks being a primary cause, although I am not saying anything is impossible.
Since you seem to want it, SORRY I studied and thought about and posted my response/correction ("lecture" as I had time, without first going back and looking for a correction from you before clicking the button.
I'm sure you have more experience with drilling than I; but as others have pointed out, IOC has not always followed your recipe, and I feel sure there are reasons. No apologies for soliciting comments from "other experts" here with a record of careful study, research, and thought before commenting, in addition to extensive knowledge and experience, and solid trust built up over years, like Petrengr1.
Nothing aimed at you, just seeking to find the facts and the truth and share it with fellow shareholders.