pre-open after 30 day efs #2 results, page-17

just finished watching origin actually agent.

I can see you are getting very worked up over this, sometimes you have to bite the bullet agent.

A %55 deline over 30 days is very worrying IMO, just imagine in a year what the wells will be producing at 200-300BOEPD at the most. A decline of 20-30% in the first 30 days is what i would call satisfactory.

Just compare this to texons first well, which had similar declines and it does'nt paint a pretty picture, to much risk for me anyway. Im not saying that they cant improve on their wells in future but at this moment in time the declines are way to steep for me anyway.

By the time all 4 EFS wells are on production their average daily production could be around the same number as it is now as the new wells take so long to get drilled and the already producing wells are decling.

I really cant see how you can compare AUT with TXN in regards to market cap's, most of AUT's wells are producing considerably more than TXN's at the 60 day result, you mention their average daily production is the same, but AUT at the end of april was producing 2200 Beopd and this number is increasing rapidly. AUT is much more advanced in their project than TXN, they are experiencing better declines and have a top operator in hilcorp that in the past you have bagged. I shoud'nt have to tell you this though, i though you were smarter then that.

Certainty is a big issue these days as well, and when a company keep's on announcing delays people get nervous and impatient and sell or choose not to invest.

This is possibly one of the reasons why TXN has not re-rated, the big end of town could be wary?? I dont know what instos you talk about are lining up to buy because the last month has been all selling.

Im just sharing my point of view as i think the declines are to steep, im very wary after seeing what happened to AZZ. For some the well results are fine and that's ok but im just outling the fact that it declined %55 in 30 days and its something to watch out for. No baiting intented, i think that is a pretty valid point to raise. They may improve in time as Hilcorp did??

Cheers