fd-3 flow rate, page-2

Unfortunately the only downside of the excellent rates of FD2 mean that AZZ has to go one better with FD3 to meet market expectations.

IP of FD2 was 790boep/d on a 3450ft horizontal.

FD3 horizontal is over 30% longer at 4650ft.

We have seen from other wells there is a strong correlation between horizontal length and IP rates. So the market ought to anticipate higher rates for FD3.

I feel anything close to or over 1000boep/d will be outstanding for this acreage. It's also highly possible given the increased horizontal length.

News of 1000 boep/d and I feel AZZ could hit a dollar if equity markets remain stable.

Great buying here under the 70s in my opinion. Director purchase during the week also reinforces that view.