ERH 0.00% 2.9¢ eromanga hydrocarbons limited

weekly chart with notes, page-21

  1. 28 Posts.
    I think what Kojasper is trying to point out is that this area does not flow well in general. If you look at the adjacent field, Angelim, you will notice that they have about 25 wells pumping 100 barrels each. The fields in this area are characterized by their longevity. Flow rates are typically low and large numbers of wells are needed as the program for 330 shows.

    Are you aware of the proposed development program for 330?

    Have you checked out the flow rates in nearby established producing fields?

    Do you know the cost of drilling another well and pumping the oil?

    If you are satisfied that you know the answers to these questions then you will also be just waiting to see what the reserve size is. A frustrating long wait I admit but hopefully it will be worth it. I believe this venture is going as well as anybody could expect not withstanding a few poorly worded announcements and sometimes late announcements.

    In a nutshell you are gambling on OIP which should be out by Wednesday.


 
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