Hey
@Redbill1952 like Incog said scale isn't unusual in the Cooper. If you are trying to decide whether the O-2 workover will be successful proabably your best parrallel is O-1. This from VEN's recent prospectus.
It is also worth noting that resolving the scale issue is not just about increasing production. Vintage are confident that there is unrecorded production which hasn't been logged due to scale interfering with the measurements. This from VEN's last quarterly.
The O-2 proposition is a decent sell. They have O-1 success to point at, possible existing unreported production and the potential that the scale remediation increases production. It comes down to whether or not VEN is teling the whole truth!
The biggest issue right now is whether VEN can raise the required funds to get the work done. I thought it would be a hard raise but then I see WBE just raised $2m on what I thought was a inferior offer. What are VEN holders on HC thinking? Are you supporting VEN's raise?
(I don't hold VEN but hold MEL)
(20min delay)