Paul if you are correct and say they had 20 wells mid 2011 and drilled 70 more thats 90 wells in total.even if half are dusters.600 bopd between 45 wells.this gives daily production of little more than 10bopd.are these classified as low impact wells or no impact wells.not much point having all these supposed reserves as at the current extraction rate i would not be surprised if oil is forming faster than mad can extract it.i dont care what anyone says these wells cannot be economical.production cost,maintence and cost of sales would be more than sales revenue.i can only find announcements for less than 10 dusters so thats 80 wells producing or getting a workover this brings av production to 7 or 8 bopd.what production is expected from high impact wells.
FDM Price at posting:
61.5¢ Sentiment: None Disclosure: Held