Okay here we go. For $700k ( New partners costs and no costs to AJQ) production will flow again. Why has this been dragged out in the courts for nearly a year when we could have paid another mob $700k and be in production already. Now AJQ will receive 50% of revenue for the next 6 years. How much yearly rev were they expecting from Warroon #1 ?
So if this fails- AJQ haven't lost anything, however can receive the drill evidence as to why it failed in the first place during re-entry.... Void of the rev. numbers I'm glad to see the project moving fwd.
"On 8 Dec 2020 sand and fluids were cleaned out on Warroon #1 with a coiled tubing unit and the well is currently on test recovering frac fluid. The stimulated Rewan interval flared rates of up to 700 mcf/d on 9 Dec 2020. Flow rates are expected to increase through clean-up operations and once the evaluation phase is completed the well will be connected to sales."
Yes I corrected the spelling of "evalution" in the above
https://wcsecure.weblink.com.au/pdf/AJQ/02320655.pdf
