This announcement from KAR only got them 6% rise for the week of the gas flow. Hard business this.
"Boreas-1 Exploration Well in WA-315-P – Progress Report No 16 A production logging run is being performed as the final operation of the production testing program at Karoon Gas Australia Ltd’s Boreas-1 exploration well. Upon completion of this final operation, the testing string will be removed from the well. During flow testing this week, Boreas 1 exploration well flowed gas to the surface at an equipment constrained maximum sustained rate of up to 30 MMscf/d through a 40/64 inch choke at a well head pressure of 3300 psi. A Condensate-Gas Ratio of 18 bbl/MMscf was measured at the surface, along with a 16% CO2 content taken from the gas flow on a volume basis. This condensate/gas ratio is almost double the rate discovered in the Kronos 1 well."
MEO Price at posting:
28.0¢ Sentiment: None Disclosure: Held