I don't personally think a positive update on Sombrero will come through as they would have known by now if it was a simple blockage, it is a shame Sombrero looked the goods when it was first drilled and this is from Caza petroleum ann, not just OTE.
What I am waiting for though is Charro update, connecting the power line to the pump and trying to enhance the flow rates, and if they have future plans for the property.
It will take time to farc, Clean and flow test Comanche first well, an update maybe but expecting material news from it this week is a bit of a stretch, the process takes 3 weeks at best.
most importantly for OTE going foreword will be their future plans for developing Comanche, now they have the oil, how they going to drill it out?, funding, drill location, how aggressive can they afford to be, leasing extra land. etc.
Assuming the coming flow testing a success, all OTE needs is two more wells with similar result and they will be cash flow positive, or neutral at least. it will be a game changer for this little struggling company as no more dilution needed for the foreseeable future.
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