Looking at the w-1 permits, the most recent permit approval from 13th August on Texas RRC was the 3rd well in the estuary itself that is allowed to be produced concurrently as the earlier wells.
Interstingly on the w-1 is a box which says "Number of wells on this lease in this reservoir - 6"
I dont know if that means 6 wells with permits or 6 drilled wells with 2 flow tested. My current understanding is that only 3 of the permitted wells can produce at the same time from this reservoir and this 3rd concurrent well approved mid august might be nearing completion very soon if drilling got underway without much delay after permit. I dont know if Linc will drill or flow test the wells that are not permitted to produce concurrently but Mr McG phone call to Linc indicated that they are in fact drilled and being completed.
If this 3rd esturaine well (Well #192 at STATE TRACT 118 CEDAR POINT) is similar to the first two the drift down in SP may be arrested once flow test results are announced.
Looking at previous years though - announcements on individual wells from Linc are rare. We may need to wait for quarterly production results or a newsletter or corporate presentation for Oil and Gas. I suspect the next oil and gas update will cover Gulf and upcoming Umiat plan. But when? dunno.....
LNC Price at posting:
$1.50 Sentiment: LT Buy Disclosure: Held
