Further to my previous post, here is an excerpt from last big announcement to back it up.
Progress on Flax field development Well completion and fracture stimulation activity commenced on the Flax field in early August. Since then, four fracture stimulation operations have been conducted. • In Flax 2, as previously reported, the fracture stimulation of the Tirrawarra Sandstone has provided limited flowback at this time and fracture stimulation of the higher basal Patchawarra sandstone has since been undertaken. Initial flowback from this interval is 200 bbls fluid per day (150 bopd, 50 bpd frac fluid) with the well continuing to clean up. • In Flax 3, following fracture stimulation of the basal Patchawarra-Tirrawarra Sandstone interval, a flowrate of 700 bbls fluid per day (580 bopd, 120 bpd frac fluid) was measured during the cleanup process. • In Flax 4, following fracture stimulation of the basal Patchawarra-Tirrawarra Sandstone interval, the well is flowing 200 bbls fluid per day (160 bopd, 40 bpd frac fluid) as it continues to clean up. It is anticipated the well will support a 150-200 bopd flowrate during field production. • In Flax 1, following earlier fracture stimulation, a flowrate capability of 300-350 bopd was determined for the well.
******* This is the interesting part ********
Current field production is restricted to the individual wells on clean up flow and by the limited field infrastructure. By mid October, temporary flowlines connecting all four wells are expected to be installed and consistent production will begin. Installation of the compressor unit is scheduled for late October after which injection of produced gas via the Flax 1 well will commence.
So i think next week we may hear something unless they have some delays connecting the wells.
INP Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
