I have read GASSED's earlier post and cross checked to the last beach investor presentation and I think I now get it. (thanks Gassed)
Bech has deliberately chosen to target the Patchawara formation with a small fracture of REM. this means that most of this flow rate is bonus to the 2m cu ft per day achieved in REM alone, i.e. if they fracked across the whole 1 km of shale formation then flow rates would be well into mid 3 million cu ft per day. Hence the view that Basin centered development is commercially viable.
However the issue of fall off in flow rates is still one to be resolved.
So the outlook is positive. Can't wait for Halifax flow rates as there were multiple fracs across the formations.
We should get a prelim view as a part of the quarterly update on 31 January.
BPT Price at posting:
$1.46 Sentiment: None Disclosure: Held
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.
(20min delay)