Still in but have gone through a hard time of late so wasn't able to post. Back now but probably won't be able to post as much as I did.
With the Linthicum flow rates only days away it definitely seems like a pivotal time for MPO, IP rate of around 600boepd will do just fine, anything on top of this will be a bonus.
tahi, the Barnhart IP rates are based on analogue data from offset producers as swans has alluded to. Not set in stone but hopefully they can emulate similar flow rates, we'll find out soon. The only variable I'm not comfortable with at this stage is that they changed the orientation of the lateral to an E-W lie as opposed to the offset wells that ran N-S as per the pic below, they did this as they could only run them with that orientation because of limitations associated with their lease holdings, they did state that the logs still indicate intersection of good fractures so hopefully it wont be an issue.
Of more interest to me was the science they have done on the Fiesta project, they have been very transparent in this regard. The logs indicate increased porosity and oil saturation higher in the Wolfcamp bench A and are expecting:
Expect Baggett 16 initial rates and ultimate recoveries to increase 2.5X to 5X from Baggett 32, 40 & Parker 85 wells
Baggett 16 flow rates expected in September. Fingers crossed for some good flow rates. With only 250m shares on issue and close to cash backing, some good flow rates should see the SP move quite quickly, even a gap up is on the cards by my reckoning.
Good luck holders.
MPO Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
