Many moons ago when this stock tanked to 30 cents after H2S PROBLEMS, the vast majority of nay sayers said that FO would not secure a jv partner.
Of course at this point in time i bought vast quantities of shares and posted that a major would indeed step up to the plate for the folllowing reasons:
1./ All the qualities of an immense zsolnok zone in the bcga are superior to most ,if not all bcga's encountered to date. The szolnok zone is not as deep as the other targets attempted to get the entire licensing and boundaries at all depths.
2./ Some of these qualities in permeability and porosity are so high, they are bordering off the tight bcga characteristics into the a semi-conventional play.
3./ With the license in place and the bcga and other studies complete including the boundaries much of the very important initial leg work is completed.
4./ Along with all the logs and item 2./ above they have a BCGA that is also so young in age that the rock formations have not been damaged in integrity possibly indicating that the gas can be fracked at greater distances. In other words the natural cracks and tiny crevices still exist , whilst in older rock they tend to get blocked over time. They have also discovered that the bcga is still actually manufacturing gas. I guess THE MUD WEIGHTS and pressures indicated at various depths are quite off the charts
5./ Indeed they did not encounter H2S DURING THE DRILLINGS or surely they would have changed the casings or at least allowed for it. But this has baffled me to date as all the qualities above suggest that gases (maybe moveable water), etc. could travel at extreme distances in the mako trough as suggested in items 2./ and 4./ above. iT has also been suggested that the spacing of wells in the szolnok zone, due to the qualities could be stepped to the ten to 20 acre range. NICE problem to have, worrying about what lies at greater distances.. and what will be the final answers in exxons ability to enact the perfect solutions.
6. The stock is sitting in the 50 cent range with zero shorts. I guess most of the people holding the shares figure show time is getting close to what they all wanted done in the first place. Ya just know that FO'S PERCENTAGE of about p50 45 tcf for 50 cents is a great ticket. They DIDN'T go very deep with F1 DID THEY LOL!!
7. ONE WOULD HAVE to believe the price of the admission tickets will start to at scalpers prices as the long awaited szolnok testing begins and leaks of the shear size of the zones are revealed.
8. Anyway it was so obvious why exxon wanted in!! With all the above known, and the bcga sitting right on top of the infrastructure and smack in the middle of a gas market.
Have a great day!
Sandy9
