I think its a pretty good announcement. The talk of solids is a concern,of course, but falls within the realm of 'manageable' and 'to be expected' given this is a frontier resource.
I am particularly enthused by the fact they are progressing to beam pumps for production purposes and putting the demonstration project out to tender. Everything suggests they are moving full steam ahead in anticipation of commercial flows. If things were going as poorly as people like Khopchai are so determined to portray, management would be limiting cash outflows so as to make sure money was left in the kitty to pay their wages for as long as possible.
Key quote: "Long lead‐items, required to convert the Klebb 2 and 3 wells from jet‐pump dewatering to long‐term gas producing beam‐pump completions, have begun arriving at site and preparatory construction operations will commence in April 2017. The beam‐pumps achieve downhole separation of water and gas, without the mechanical limitations of the jet pumps. We expect these changes to contribute significantly to increased gas production towards commercial rates in Q2, 2017.
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