We really are due for an announcement, we've heard nothing since November last year, about two months.
Back in November they told us that fracking was completed on November 6 and after a short flowback period about 12,600 barrels of fluid had been recovered, leaving a little over 100,000 barrels.
In 'mid November' a jet pump was installed, which was recovering about 1,500 barrels of fluid per day. They said at least half of that would probably need to be recovered before the well started producing oil. That should have taken until about late December. At 1,500 barrels per day all of the frac fluid should have been recovered. Presumably there would be a slowdown over time, but they should well and truly have more than half recovered by now.
Not that it's often of any value, but with nothing to lose I tried calling Talon. I didn't get past the receptionist :P
I'm crossing my fingers that all is well and there has just been a slow increase in oil in the recovered liquids, with no sudden change requiring an announcement. Hopefully they want to get a stable production rate which they can report, or they're waiting for maximum production, which I assume would be reasonably soon after the majority of frac fluid was recovered.
...funny timing, just as I'm typing this I received a call from the Talon receptionist in QLD, she said the last board meeting was in December and the next one will be in about two weeks (and apparently no one had been around the office for a while... we're paying them to play golf :P ), so perhaps we'll get an announcement shortly after that?
TPD Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held