I have no idea why Terry would come out with this update. I guess its just to let us know there is oil there but we already knew that. The previous update on the well he told us
" During one wire line run, the frac plug and perforating tools were separated from the wire line and left in the well. A coil tubing unit was utilized to drill the last seven frac plugs; however, due to early sand production, the well was shut in for two days to allow the fracture to heal, and the flow rate has been reduced to ensure excessive sand does not come out of the fractures."
So put 2 & 2 together the well was already throttled back to reduce the amount of fraccing material (sand) from coming back out so of course the flow rate is going to be low. Reasonable logic?
SSN Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held