Would love to hear peoples thoughts on this.
US Oil and Gas have drilled a well in Nevada and given positive seeming press releases. ( http://usoil.us/?q=node/202 )
Flow testing etc is starting and being done by Baker Hughes.
The company trades on the unregulated "gxg" market. ( gxgmarkets.co.uk ) having been delisted from PLUS.
It is an interesting story but i cant help feeling uneasy about it.
Their seismic technique was interesting. They are using a novel "listening" technology pioneered by the Russians and commercialised by http://www.geodynamics.it
Any thoughts?
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I will leave those questions to the many sharper O&G investing minds on this site (anyone care to tackle them?). Meanwhlle, I am just cross-referencing to an interview Ben did with US Oil & Gas some time back, as it's quite hidden away, in case it's of interest - http://www.stockopedia.co.uk/content/us-oil-exploration-brian-mcdonnell-of-us-oil-and-gas-talks-to-stockopedia-48656/
I first saw US Oil & Gas at a Proactive event a couple of years ago. They waxed lyrical then about their wonderful Nevada acreeage. I didn't hear anything in the mumbo jumbo about their innovative explo. technique that sounded particualry new/exciting to me (but I'm not a geoscientist).
After the presentation I asked the presenting director how many wells he had been involved in drilling. Answer: none.
Anyone considering investing should ask themselves this: how likely is it that there is some wonderful acreage in the USA that experienced oil men have failed to spot?