After reviewing much of the data within the public domain coupled to the recent site activity within a relatively close proximity to home, I took some time out to investigate first hand on what’s really taking place at Wressle-1 by operators Egdon Resources. I make no secret that I hold stock in junior partner Union Jack Oil so in essence could be deemed slightly biased however pictures say a thousand words.
Below we can see the site is clearly humming with activity and on further investigation whilst calling in a few industry good turns, it would appear that the company has not only ripped up some brilliant initial results from below the surface but the well testing has confirmed that things at Wressle-1 are very much on track. The company has the potential to test all 3 columns of pay announced in its RNS’s but with the first section finishing within the next 24 hours it would appear we are headed towards a commercial find.
After a chat to other industry buddies I think it’s paramount to remember that the well is still live and can improve or decline before the testing ends. Many of you know me for my global adventuring within the offshore (oil) game, but whilst on standby I’m happy speculating in the small cap markets.
I enclose images of the heavy duty kit which would suggest they have brought on up rated equipment which cross reference’s a bigger operation in play rather than smaller industry (flow) testing kit one would expect.