This is how I am interpreting the last 3 updates and I could be off the mark, so please let me know if there is a flaw in my logic.
19 (T=0) days ago they announced good gas flow (800K cf) which should translate to good oil flow in a perfect world. They say they would start testing 18 days ago (T+1).
Friday past (T+14) they said there was 50K barrels of drilling fluid that needs to clear before the black stuff comes. Assuming this flows at a similar rate to oil…I might be wrong, I don’t really know.
Also on T+14 they said oil flow is imminent. One would assume they know how many barrels of fluid went down and how many have come out already, so they must be keeping count and have a good idea of what’s left before the oil flows.
At T=21, that’s this coming Friday, if they flow oil then you are talking about a flow rate of 50K barrels / 21 days = 2380 barrels a day. That is huge (given they are targeting total production of 500 barrels average a day sometime next year? Currently at 125.)
So what I’m trying to say is they can have a few more weeks before I start thinking something is wrong. And if they flow oil say Friday week, the stock will go nuts, as they will be flowing more oil than Maverick (MAD), a coy 10x the mkt cap.
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