Hi Sarto,
Samson are permitting the wells at the moment however I want to read in a press release that CLR are onboard and contributing to full field development not only in the Bakken layer but also the Three Forks levels as well. I expect we will see CLR as the operator in due course. From memory CLR has the option for half of the Rainbow field with the other half still with Samson. There was to be a 30 day test on Glady's which is rapidly approaching so should hear something formally soon.
With respect to the shut in wells we should see a surge in BOEPD and also improvements in adjacent well flows. Samson's releases have alluded to the fact that the shut in loss of production will be made up for once the wells are put back on production. Terry Barr's approach is to take a conservative approach and allow the production to speak for itself. Hence I don't think the production make up comment would be repeated in successive ann if this was not thought to be very likely.
So ... on to Bluff, now some 10 days since the rig was in place so expecting some news in this front. With the failure, albeit small, of the 2nd Pubco test well, Samson could do with some good news and Bluff may well be the catalyst for the US Mms to set it all alight. Everyone have their exit strategy ??.
GLTA
SSN Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
