FDM freedom oil and gas ltd

last two quaters drilling at blue ridge

  1. 286 Posts.
    No one has really talked about the last 6 months of drilling on blue ridge dome. In the June quarter mad drilled 3 wells on blue ridge and all three where plugged and abondoned. In the spetember quarter, 11 wells where drilled and 4 where plugged and abondoned. Thats a 50% sucess rate. Thats terrible, considering 50 out of 56 where sucessful before that. We already know that each plug and abondon wells takes off reserves off the company. One only has to have a look at quarterly in march 2012, the reserves on blue ridge went from 1p 28.1 to 27.1 in the june 2012 quarterly. Thats a 1m loss in reserves for 4 plugg and abondon wells. So thats about 237,500 a well? (production was about 50,000 for the quarter from blue ridge) Or do people just think this is a typo that no one has picked up? Its odd thats for sure
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.