I see the increased production as a great result for the company. And whilst it may "accelerate the drainage" of the field there is still a lot of oil there to be recovered. recovering it now will help us in a couple of key ways. first it speeds up the recovery of expenditure from the drilling operations because it means we will have higher monthly production to get our recovery percentage back on. second it should move us on to a free cash surplus basis each month and this will give management the confidence to move ahead with an acquisition that they might otherwise have been hesitant to commit to if the results had been poor/mediocre. The Bunion 5 well hasn't proved to be a market mover it's true but for me it has greatly underpinned the company and laid the foundation for management to pull off a great next move, naturally I hope they succeed and I've been putting my money where my mouth is over the last few days
BAS Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held
