pathfinder c-18 ##1 must be close to spud, page-13

Yes Plough that is true per AKK release..

"Notably, ASX-listed Comet Ridge Resources (ASX: COI) drilled 25 wells in the adjoining field from 2008 -2012. Of
these 25 wells, 22 were commercial producers and the average production from these 22 wells has been approximately 31,700 barrels of oil per well. The best well had a 30 day average initial production rate of 523bopd,has produced over 180,000 barrels of oil, and is still producing. The 22 wells averaged 112 bopd for an initial 30 day period. This data is publicly available. The Pierre formation is a highly naturally fractured shale that is found at shallow depths of approximately 4000ft. These wells are drilled tangentially into the formation and do not require hydraulic fracturing or horizontal drilling, therefore the cost to drill and complete these wells is generally less than $1 million per well."

http://austinexploration.com/wp-content/uploads/2013/11/Colorado-update.pdf



If you remove the 1 top performer (if I had the time I'd look at at all 22, and say remove top 2 and bottom 2 and then average) that average drops to 24,638 bbl oil/well

No data given on time on production. But say to NRI of 75% then you've got 18,000 bbls - which if operating netback is $60/bbl then its paid for the Capex.


Comet sold out of Florence Field June 2012 - WI 17.257% fo $12.25M, noting 22 wells and 630,000 bbls oil produced. Does that mean in the 18 months between releases that 67,400 bbls were produced across 22 wells which is an average of under 6 bopd.

http://www.cometridge.com.au/PDF/ASX6Jun12_Operational%20Update-Comet%20Ridge%20LLC-US%20Activities.pdf


Just saying there is always more to think about than the trickle of information that comes from the company (not singling out AKK here).


Shelcomm - of course RC is on record saying that - its his mantra to use OPM.

But to write
"Said deals would then come off a much higher WI than EFS. We already know there's oil at Pathfinder, and a third party has validated a gas enterprise there also."

I think you could absolutely say you knew the oil was at Birch and look what had to be given away EVEN AFTER THE large Capex invested by AKK....