Santa Rosa Seismic and Cross Section
i estimate depth to be about 900 m at midnight pdt
here is a map of the 3 previous holes drilled on the SR block thanks to Brantley on the otto thread at hotcopper
and a copy of a post by 62strat explaining the significance
“So, from this information, combined with some other pics I have, I can see that of the 3 holes drilled on the SR block to date, the 2 that had hydrocarbon gas shows were the hole to the west (closer to the proven kitchen), and the hole about 12km from the Dome peak (if that is how we can interpret the pink shading on your map. The hole drilled on the southern boundary had nothing to show.
The hole drilled near the peak was drilled right on top of the northern thrust fault in a group of 3 almost parallel thrust faults which run along the southern edge of the Dome, and also right on top of one of the old 2D grid lines (which are about 20kms apart). I assume this drill site was chosen from the 2D info, and the hole did have HC gas shows, but no “discovery”.
Personally, I’d rather have seen some 3D seismic shot before drilling commenced, but that’s a bit late now.”
this is a great map showing how the dome was missed as it sits right between the regional seismic lines
as i see it there are 3 possible pools of oil; the main dome, the second smaller dome and the fault bounded pool to the south. the drill hole between the faults just missed either the fault bounded oil and the main structure.. bad luck i guess..
cross section of SR
this graphic shows the source rock in green and the possible source rocks of any oil that would have migrated east..you can see the easterly source is possibly bigger than the westerly one ..arrows indicate migration pathways.. all VERY EXCITING!!!
Hi again Caliche,
thanks for the heads up!
Exciting times indeed.
over 1 kilometer in now .. all looks great
caliche
Got my fingers crossed!
Roro
Did I miss something in the last hour? Heated discussion perhaps?
Where are all the comments?
I believe Caliche is off ordering his new car and the rest are working on there
retirement plans for after we hit…
Should be at depth tomorrow, maybe some news will leak…
G1
New car…new car, that’s an easy decision.
I have to decide on which country I’m gonna buy???
Leaking news in the weekend while the markets are closed.
Do they keep drilling in the weekend or what?
Drilling through the weekend…
Hey…what happened to some of the posts? Admin remove some? Why?
h1
we should be at depth now .. i think they want to drill through the whole horizon to bedrock and see the big picture of what we have i will do some digging for a sniff of oil this weekend .. let us know if you hear anything!
FYI….
I hear Chet is taking a real hard nosed attitude on SR news. Apparantly, he told all directors, and mgmt team, they arent going to hear anything until the official announcement is made about SR. Good or bad.,,,,,,,,,,, he’s very cautious/worried about any insider information.
Could anyone please tell me what will happen to the stock if no oil is found on these first drill tests??
And what about their gold projects? Does anyone know anything more about those? Any advancements?
having trouble sleeping, thinking (good and bad) about some drilling 8000 miles away….
how about a halt, both Monday and Tuesday with news released by OTTO wed morning in OZ, tuesday night our time?
chet has always been very good at running a tight ship w/ regards to info .. good on him .. but the waiting is killing me .. i should have booked a ticket when the rig was going up ..lol
halt sounds good ..
i dont think much is built in to the price onthe oil .. if the first well is dry i was told they would do some more seismic and drill again.. the third hole is not as certain.. there is a secondary structure beside the dome and a fault to the south that could be a trap .
the gold is going along very well .. iamgold bought in and there will be a feasibility study released next month!
Isnt the feasibility study the one thing which really values a stock and thus makes or breaks a stock?
That tells investors whats in the ground, what it takes to get it out and stuff like that.
what do you think the marketcap of oromin should be?
The Pre Feas could set us off. If thats real good…. I think the sp could start a steady climb. And perhaps that would initiate iamgold to make an offer,,,, and others to offer as well.
There was that great article on West African Gold Companies a short while ago. Mentioned Barrick, NewMont, Goldfields, Iamgold ,,, and MDL and Oromin. Great for Oromin to be included. Might be our time ……. we hit SR oil and get 20 bucks for the sp,,, and the Gold gets a b/o for another 5 to 7 bucks. Sound good? Ya man !
I think we’ve paid our dues.
what date was that study? Next month is august..but when in august. Beginning, mid, late?
Goldchaser….
caliche is speaking of the Pre Feasability study due out 8/28/09 or early september.
Arlene here swears that they will be punctual this time. ( not sure why) Ya, if thats a good report….. it could start things off for the gold.
And Arlene should know because Arlene is….
…sorry, these are the only names I know
Chet Idziszek Chairman of the Board, Chief Executive Officer, President
Ian Brown Chief Financial Officer
David W. Mallo Vice President – Explorations
James Stewart Corporate Secretary, Director
Derek Bartlett Lead Independent Director
Nell M. Dragovan Director
Douglas Turnbull Director
Robert H. Brennan Independent Director
Robert A. Sibthorpe Independent Director
Youre saying arlene is one of the mgmt people? I dont think so…..
We’ll hear from Arlene soon…. to clear it up.
No 🙂
I’m saying I’m not familiar with Arlene. So, I was curious why Arlene would know about that.
thats all.
Or is Arlene=Caliche?
i am not arlene or chet ..lol..
they swear up and down the pre feas will not be late ..
i guarantee it will be out between august 1st and the 31st of august..with a 50/50 chance it will either be out before or after the 15th 😉
arlene is arlene. Posts here a lot. Read some of the previous posts.
who’s on first, whats on second…..
where is some oil news !!!!! driving me crazy
Goldchaser——There is no reason that you should know me , but I assure you that I am not Caliche , although I sometimes wish that I had his insight/knowledge re gold & oil exploration companies , as well as his youth……Neither am I a part of the Ole mgmt team , although I do sometimes wish that I had some of their options because Ole is a steal at current shareprice–oil or no oil……Yes, the share price may–probably–will drop significantly if oil play does not prove out…….But the drop will be extremely short lived as Sept/Oct shapes up to be a history making timeframe for gold and gold companies and Ole DOES have the goods and the mgmt team to take advantage…My conversations with Ole mgmt give me a very high confidence level that the PF will be outstanding and will be out before Sept 1 , 2009….
Caliche—-It surely was a nice compliment (for me) for someone to say my posts could possible be done by you , as your posts are infinitely more informative and certainly more knowledgeable…Re the PF , IMO , if oil does hit , the pf will be late , late August…Probably Friday , 8/28 , given Ole’s history of Friday releases……If oil does not hit , we just may see a NR re gold drilling assay info week of 8/3 , followed two weeks later with the PF…..They will have to do some “damage control” to minimize the share price drop due to dissapointment on the oil play…even tho the gold play alone is worth significantly more than current share price…Comments , anyone ??
Arlene…
Interesging calls on the PF dates. I defer to all your insights. but i do find it interesting that all of a sudden chet is concerned w/ the sp. Just seems like he never was before.
Didnt i hear someone say that in discussions w/ him, he doesnt like marketing and promotion,,,, as he says…… hes ” a miner”…… Also,,, at $1.25 US now,,, whats a significantly higher sp?
So any way, i see this as a big positive,,,,, suddenly hes concerned w/ the sp, the timing of the PR,,,,, the PF etc… thats all good for us. he must have an agenda for selling this baby soon. he’s only human, he’s got 10 mil shares. @ 5 bucks thats $50 mil. A lot better than his $350 salary and nice expense account w/ ole.
After all this time drilling, and at depth now,,, THEY NOW KNOW whats there. rigjht? The rig operators, Dr h, The otto expert on site,,, chet,,, etc etc. The ASX stock exchange opens in 4.5 hours. It’s 5:30 there now. I was thinking that the sp for Otto would show something. With small fortunes to be made at SR,,,, and an expected big sp drop w/ a miss…. word has to be passsed on to the ASX. wouldnt you thinK?
Hi arlene ..
i was thinking the same .. you add a lot of content to the site and i appreciate it!..
as for the oil .. im in for the gold and if the oil hits its gravy!.. i think the price will drop some but i know there is money on the sidelines waiting to get a deal (or a steal) on the gold if the price comes off due to the oil..
me included!!
interesting couple of days ahead..
c’mon baby daddy needs a new Ferrari!!
Otto is up 5% on 2 million shares in the first hour of trading in sydney.. looks like they may have something!
watching the Otto sp,,, and just up a little…. form 7 cents to .074 cents. So, that may be good … in that it didnt drop a bunch on leaked news. Over 3.5 mil shares traded. sounds liike a lot.
Otto is up 5% on 2 million shares in the first hour of trading in sydney.. looks like they may have something!
In Sydney???? Does Oromin also trade on the australian exchange or what?
goldchaser – Otto Energy (OEL.ax) is Oromin’s partner in Santa Rosa oil project. They are a Perth-based company that trades on the Australian Exchange. If Otto’s price is going up, maybe it’s because of SR…
Thnx for the heads up on that one. I didn’t know that.
No action today on Oromin????
Calm day or trading stop?
Anyone know anything?
regards
MAYBE—-a simultaneous NR from Ole late Tuesday ,PST , with the weekly update release promised by Otto…I believe that it is a possibility….not necessarily the plan..
No trades on the tsx today yet? With the delay,,, 11:30 us time .Anybody seeing anything? isnt this unusual?
whats everybody read into this? little or no trades after some big trading days leading up to the SR drill. Now nothing. I got excited at first, thinking it was a hlat. But no luck. At least the sp isnt diving.
Thoughts?
down to 1.26
no press release yet.
Caliche? Any word?
Looks like someone thinks it’s a duster…
how can anyone know this.
Anyone checking on the volumes? Is it from a couple of trades that the stock dropped. Large sell-off thus….or ??
how low can this go if it is a duster?
Could also be people trying to scare or short the stock so they can buy cheaper. Nothings known at the moment.
A pullback of 5-8% I can digg…a drop by 18% however is something beyond my comprehension unless this really is a duster and that automatically means normal shareholders get screwed over by someone who had a rather big slip of the tongue.
I sincerely hope oromin can clarify this one cause I don’t know what I’m smelling but it ain’t my body odor.
I don’t know that I agree completely, Goldchaser. Sunday, I told another OLE investor that we should sell some shares first thing Monday morning…reason…there was too much hype coming into Monday on whether or not an announcement would be made on SR…and without any substantive news, there would be a significant drop.
Being that this stock is very closely held, small sells can send the price down. And a few continual sells can make it really drop.
I didn’t do it, because I believe it is still way below market value (on the gold) and did not want to risk my cost average on my shares (if I was wrong).
Remember…SR is a LONG SHOT…13% probabitiy…the stock has had a bit of a run-up in anticipation…so today’s drop is not unexpected (IMHO)…& as arelene2 has previously indicated.
I for one, am a tad surprised it was/is not worse…good sign to me. Volume is only slightly above average, and no big block sells – at least none that I can see.
Still Hopeful though!!!
h1
Looks like two big sales this morning early (6M and 10M) both in the first half hour. First down move was between noon and 1 30 PM fueled by several small (500 – 1500) trades. Then there were several large purchases and it leveled off briefly, before small batches continued to sell. If I guessed it seems like someone is pressuring it down, trying to hit some sell triggers. I’d have suspected if someone knew it was a duster there would be bigger blocks moving.
kwhurs01
http://finance.yahoo.com/echarts?s=OLEPF.OB#chart3:symbol=olepf.ob;range=1d;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Yahoo graph
maybe you’re right. One can never really know for sure with these things.
I can tell you however, as a shareholder myself, selling the stock wasn’t actually on my mind either.
I’ve been holding Oromin for a while now and I haven’t seen drops like this one before.
Sure, the oil thing plays a big part but why sell as an investor when you know what the target is..right?
Most that are in this stock from before $1 don’t take profits now at this moment. They ride it out.
It seems you are right though. Atleast, from what I can see now.
Stock steady for now. Turning back up.
Back at 1.40 by the end of the week….or 40 🙂
I was waiting to buy more if there was a down move following news. Might bite a little if I can get it for $1.
kwhurs01
I personally feel that just like everyone today, we are on the edge and we alll had the same impulse to sell and pull out some cash – but, didn’t based on common sense! Look, it has only been 69,000 shares and how many of those have been buy shares at a great bargain right now. Stay the course and wait out the day traders and the market so we all shall succeed. There has been no news as there is most liklely a net that has been thrown over the project until a pre-determined day anyway. Could be today, could be tomorrow or next week.
Relax – We are all in this thing for the long run anyway…. Why would I sell and give up my tax position anyway 🙂
Not unexpected. Short term traders have to take their profits. Nothing has changed.
Roro
agreed ..its had a nice run up .. i hope they all try to scramble back in after the news we hit ..
Hi Dale
you are right ..
there is a blackout till the 29th .. at least .. maybe longer.. there is nothing to be had in the way of info .. im trying all my sources .. and i cant find anything..