Golly ,avi, that has got to be one of your weakest rejoinders to date. And I believe it reflects your dawning awareness that oil is going to be pumped out of the Weald Basin and that Magellan will profit from that enterprise.
If we step back and take a deep breath, we investors can realize that this well has confirmed Magellan's thesis of commercial oil in their leases in the Weald Basin. Assuming town councils and the UK government agencies get on board, which I believe they will, the value of the Magellan leases will go up and this so called failure will be seen as not a failure at all. Not every exploratory well finds oil in every zone nor should we expect that to be the case but this well begs to be followed by others even if fracking is not the method used to extract the movable oil in place.
So, it would seem, a second well to test the missed Portland Sandstone would have to be drilled. Were multiple conventional wells planned from this site in the eventuality that something like this would happen or will the partners have to find another drilling site and go through all the paperwork and approvals just like in the past? Do we know if Magellan/Celtique have approved sites south of HH or southwest in other permit areas?
Good thing Magellan did not have to put up a great deal of money for this first attempt. If oil zones are farther south in the Weald then it will be up to Celtique/Magellan partnerships to find them. The smaller firms at Horse Hill are still awaiting the Triassic drilling to be completed and logged as I understand it. Next news will have to come from Poplar I guess.
What was your point about the Baze suspension 9 years ago? Your other information is pretty much correct as lotteries and other betting opportunities have hurt the racing industry. There is no doubt about that.
Thanks babsie. It is a hobby and I know that I will have more outgo than income but I have been doing this for about 9 years and am having fun.
She had the best 5f time of all the winners at 5f today including the 3 year old boys and I think the track was worse by the time her race came around so I am very pleased with this performance. This was her first race in sloppy conditions but her workouts were good under the same conditions. I hope she proves to have some ability to run longer distances as well but so far the sprints seem to be to her liking. And, in all honesty, she will probably never be a stakes horse like some but we can do well if she is consistent up to the 15000 dollar claiming level where, by the rules at Emerald Downs, she could still run as a maiden having not won at that level yet.
Oil wars end, economies pick up and demand increases but sometimes it takes a couple years. Some of these OPEC countries cannot allow the price to fall much further as they have societal unrest to take into account but, for the moment, the above thesis many prove correct.
Now up only 6 cents. That is too weird as it hit 2.17 and the back to 1.82. Volume was pretty darn good for the open but this price action indicates...???
Much like the Vancouver Curb exchange or the Spokane Stock Exchange at times in the past BUT anyone going into stocks like those is by nature a gambler. Magellan is not an AIM issue so I am not sure of your point although they got drilling costs covered from such issuers in exchange for a large percentage of the first effort.
Seems to me that blocking a road to impede legal commerce is also a crime. If your protestors cannot get the job done without endangering themselves then perhaps the onus is on them. When you find out if assault charges were filed and there was a trial then you may actually have a story.
Smaller piece but a bigger pie avi. If it works out well for the company then down the road 3-4 years those CTP shares will be worth more than the original holding for Magellan. But it is always an "if it works out well" scenario just like it is with the majors and any huge undertaking in which they engage. This is a non issue.
Back story possibility: Scared driver, who almost hit protestor sitting in road during rain storm that impeded vision and made braking difficult, dragged protestor by hood of sweater while screaming that he had almost killed her and she was an absolute twit for endangering herself that way. Is it possible that that is the part of the story you are not telling us avi?
You really do like to misconstrue a post don't you avi? I said nothing about revenues or a date at which any revenue from HH might be forthcoming. But unless you are truly brain dead, you knew what my point was and chose to twist it into something negative as is typical with your responses.
If oil is found it validates the thesis that Magellan has valuable acreage (or is it hectarage) and that may well be the end game for Magellan anyway. Of course, it would have to be profitable at the current price per barrel since the Saudis are probably happy to have oil prices relatively low which may discourage higher cost exploration efforts.