"Well intervention options are currently being planned for Q2 CY23 to target establishing lower DTR-10 contribution to
increase overall production rate and recovery. This well intervention, as planned, will involve returning to location with a rig to enable coiled tubing and electric line intervention actions to open the lower interval."
I take this as meaning they will be back on site late June, probably finish the lower sand "re-recompletion" mid July, and then it will be another 4 weeks until we know whether or not it was a success. So by the middle of August we should have an idea of what lower sands flow rate is. What does this mean for MU though, given his 3 year incentive to find a liquidity event expires early September? TBH he really hasn't done anything in this time other than the bare minimum imo, I just see his pay day as being correlated to mine.
While we all wait...... I'd like to see them return $20m USD to shareholders NOW!!!!! Don't care how they do it, it just has to be done. It would send the right signal to the market and remove the risk that they roll the dice with another disastrous concentrated acquisition, share price would react very favourably to this imo.
1.3c looks very cheap imo
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- Ann: GC 21 Commences Production from DTR-10 Sand
Ann: GC 21 Commences Production from DTR-10 Sand, page-24
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