Ann: Update on Palm Valley Field Performance & Reserves, page-5

Well, that's disappointing. Although I note it's essentially resetting the 2P back to what it was prior to CTP acquiring it and updating the reserves. In other words, the reserves upgrade has been wiped.

This figure seems to include PV13 reserves as well, although I'm a bit surprised they feel confident enough to quantify them (and the production profile) after so short a time online. I'd not have thought the well has reached a flow regime that allows accurate OGIP or decline calculations, particularly with the complication of dual porosity production.

So I hold out some hope that PV13 will outperform this forecast by a bit as the tight sands kick in.