I'm with you SAncho, strong flow rates they are not. Th coal seam gas comparison is one I had in mind also. And just think of those Waitsia and West Erregulla wells that flowed 60 to 90 million std cubic feet of gas a day from a conventional onshore reservoir. The best Carpentaira #1 can do is a stabilised 0.37 million! If the Empire CEO had said the well had disappointed the share price would have halved and in one fell swoop he would have damned the grand Beetaloo pot of gold. I feel for them.
There is more drilling to do and perhaps a horizontal at Carapentaria migh improve flow rates. But we have to go with what we have got 370,000 scf/d of gas from no less four fracture stimulated shale reservoirs. That's not good.
EEG Price at posting:
32.5¢ Sentiment: None Disclosure: Not Held
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