I suspect the completion method they used will be their downfall. Drilling out a naked hole will mean any oil produced will slough into the hole over time and block parts of the horizontal from flowing. That's probably why they couldn't drill out the entire 700m section. Cutting costs at this stage will cost us bigtime in the long run IMO.
I hold in hope that we hit a squirter at can get out of my options with my initial investment. Anything more will be a bonus. I think with the right management we might be able to squeeze out a decent production profile, but I think JH should be left to geology and someone with some real business nousse should be put in place.
momentous day?, page-20
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Last
5.3¢ |
Change
-0.002(3.64%) |
Mkt cap ! $39.49M | |||
| Open | High | Low | Value | Volume |
| 5.5¢ | 5.5¢ | 5.3¢ | $83.26K | 1.516M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 234750 | 5.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.5¢ | 340510 | 1 |
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