Thanks for the informative post. Always good to read your views.
Correct me if I'm wrong, but even if JW-1 only produces 100BOPD, CTP is not looking at JW-1 as the only well.In essence, it is saying in yesterday's ann. that we believe we have an oil province of up to 1400 km2 and JW-1 is an indication of what lies within that area.
Assuming that is correct, I take it they could drill many wells within that area. Even if each was only producing 100BOPD, multiple wells would be commercial, would they not? I understand that different sites would produce at different flow rates, but I am just keeping it simple. I am also ignoring the further exploration that needs to be done for the sake of the question.
CTP Price at posting:
52.5¢ Sentiment: Hold Disclosure: Held
