88E 33.3% 0.2¢ 88 energy limited

Ann: Operations Update, page-22

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    Pressure at the wellhead was measured as between just under 3,000 psi (from the the wellhead gauge)
    and 3,500 psi based on a pressure reading of 5,200 psi at 4,000’ (from the downhole pressure gauges).

    This seems poorly worded. What depth is the 3500 psi being read at?
    How can 3500 psi  be based on 5,200 psi at 4000 feet?
    Any thoughts?
 
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