I don't have any inside knowledge of the petophysical work on the logs. I was suggesting that IFR should do some work and share them with the shareholders. This would be a huge help. I would like to know what is the porosity, water saturation, clay content etc.
I believe that if they reprocessed the logs using something like Elan Plus they could get some better information than available from the logs in their present format. Anyone willing to call Pat and ask him if they have done this? Take a look at the reprocessed logs in the latest MGM presentation.
I am not sure what you are refering to in your last post when you talked about my analogy of "oil seeping to the surface". Sorry if I am being a bit dense.
My interpretation of IFR and its lands:
- Summit is wet gas and Stewart is dry gas not oil.
- Lower TOC (Total Organic Carbon) than the north. TOC is important because it is what "creates" HC and also creates porosity when it is converted from Kerogen to HC.
- Drilling is more difficult and deeper in the IFR lands than the north. This means higher costs.
- IFR is father from the pipeline than other properties - about 70 km. Again higher costs.
- IFR is not in control of its future, Husky is.
- IFR does have access to the cash needed to play in the frontier.
- The net amount of acreage in the Summit play is about +/-6,000 acres. Pretty small for a resource play.
- I think Stewart is dry gas and is a non-started for development.
Short term IFR may get a speculative lift with the action happening to the north. Longer term is hard to see how this is going to turn out.