Replies to post #5868 on JDZ Nigeria-Sao Tome e Principe

[emdyal]

Balance- "The second and third drilling locations will be determined based upon the Kina-1 exploration results."

So it is pretty much a given that the rig will not sit idle for weeks waiting for the results to be analyzed ! They essentially know right away what they are dealing with and plan the next well location accordingly !! It would seem that companies taking even months to analyze drill results is all a part of the tight hole game !

I still think that Sinopec will break out an offer before drilling or shortly after but I guess we will soon know !

[dbernet]

Balance,

The key for me is getting the "boxes" where I store information correctly labeled. The box where I put Oily's posts is labeled in such a way that I am long past being disappointed when he is wrong. So I personally see no need to ban him.

Mark's info has more value to me. I view his JDA source as mostly an honest guy who is in a promotional position, bending things a little too much in the optimistic direction. Usually correct, but the dates given are often a little beyond best case. I believe what he says is true and will happen, so the news is extremely welcome, but as you have so well reminded us, Mark's JDA source time lines have not factored in the endless fortnight delays in the oil business. Also, like you, I am intrigued by marks hints about something good happening soon. It provides interesting support for your buyout theories.

When Oily shows convergence, I find it interesting, but I don't place a lot of value there. Just way to inconsistent for me to do so. He may actually know something, but he is clearly not trying to help anyone here. His stock price and volume predictions particularly reek of a trading interest.

regards,

db

[puff]

Thanks for your reply and your indefatigable defense of your views.

Maybe I was just hoping for even a shred of credebility from Oily as the MOST important news is soon to come, provable reserves of oil.

I get that feeling in my gut that he will be the first to announce numbers and they most likley will be fictitional to be traded upon. If so this rubs me the wrong way and will certainly effect many.

I hope I'm wrong. After almost a week there should have been some type of confirmation of drilling in my opinion.

There will have to be a point somewhere where even you may say a line has been crossed.

Thanks for listening.

[kownski]

Balance, these two post tells me we are getting real close.

Posted by: Pup Date: Tuesday, July 07, 2009 9:34:35 PM
In reply to: None Post # of 172102

Rig update...

The 702 finished logging (as identified) and set the liner for BG a little over a week ago. The rig was released back to Snepco the same week. The rig is currently drilling its first of two top hole sections (on a deep-water production template). It is scheduled to arrive in the JDZ (on location) around +/- the 5th of Aug.

The Pathfinder is due to be loaded out (additional equipment) for JDZ operations the same week in PH... If it stays on track; drilling will begin +/- 5-10 days after load out.

Addax - not Sinopec - is currently handling and overseeing the planning stages of the load out of the Pathfinder... One can assume based on this that Addax drilling management will manage drilling operations.

Both rigs should be drilling by the third week of Aug.

Block 3 operator is monitoring... (with the right to change their mind about drilling operator)

Of course when drilling begins; tight hole criteria will be in affect.

I hope this answers a few private questions.

Disclaimer statement: whip the cat... not the pup.

Posted by: markgovols Date: Friday, July 24, 2009 9:58:10 AM
In reply to: None Post # of 172102

****JDA UPDATE****

Spoke with my JDA source. The JDA is sending represenatives to inspect the Sedco rig on Monday. This is a formality that happens before rig is deployed. Was told the Sedco rig will arrive in JDZ Block 2 Aug. 1-2 (Next Saturday-Sunday). The Pathfinder a week or so after. Was assured 100% certain drilling occurs August.

Also, it is Required that the Operators PR once the Sedco and Pathfinder rigs have been deployed. The JDA made it a requirement.

Calling next week for update.

Both are from very reliable posters (IMO) and both are real close on dates.

JMHO
John

[Nightdaytrader]

Balance - good point - EOM. ND9

[wqcustom]

Thanks for your response BB. I actually was concerned I may have ticked you off and drove you back to the other board! lol...I'm glad that's not the case as it was not my intention.

Anyways, I see your point. I disagree slightly though, because I believe Mark is simply posting what he hears from his source. If it doesn't pan out, then we can say, OK, his source was wrong or late, or whatever. But, I don't believe any of his posts are lies. He's posting what he hears, and leaves it up to us to decide. He's pointing to FUTURE events and they may or may not change.
Similarly, when Oilphant posts that we are going to hit the .80's, or chatter 3.15, etc., I say that's ok, it's his guess or opinion of a FUTURE event, and that's fine with me, no big deal. If Oilphant posted 'my source says Sedco 702 status 450 feet" then once again I would simply say his source is just bad. No reason to ban him for a bad source. BUT, to me, he crossed the line when he posted lies of CURRENT Sedco drilling depths. To me, that's not a guess or opinion of something that might happen in the future, that's stating something happening currently as a fact. I believe those posts were meant to deceive because there doesn't seem to be any other rational meaning for them. I also find it very interesting that when he recently posted multiple times in 1 day (which is rare for him), it correlated with a 1.7 mil volume day. No one seemed to mention or notice this correlation. It's just one more thing that makes me go hmmmm...

Keep up the great work BB!
GLTA