the future, page-5

I agree with you both-CVN likely has a solid,debt-free future ahead on all the evidence I can muster as of this moment in time.I cant even satisfy myself that the volcanics have fallen off to the extent that I suspect until I see a production report (hopefully the next one,well overdue IMO) that doesnt cloud the issue by advising that selling licences are still awaited and that shows that the latest production numbers havent been greatly affected by a lack of 1 or more of these licenses.
The niggle will still be there (unless a cleansing statement is issued) as to how Jeff and Ted with their technical competence and knowledge of sandstone drilling and their respective abilities to influence the course of their respective companies ever came to approve the cessation of sandstone drilling. Why would you not continue to explore the bread and butter assets along with the as-yet-unproven,albeit enticing alternative??
I may not have made the point strongly enough amongst the long list of attributes of sandstone wells that ,as part of their "reliable" label, sandstone fields are bankable (meaning you can borrow against the field-try doing that with a group of volcanics that havent been continuously producing for a year or two or 3).
For the future Im rapt in the WBext1 sandstone result. My acquired knowledge of WB tells me that "550 bopd" WONT fade away; that the G layer WILL be almost certain to produce at upwards of 250 bopd ,which also WONT fade away: that the F layer is 50 metres(thats huge for CVN) thick in at least 1 spot and the G layer is at least 30 metres thick at at least one spot. If I hadnt been following the old CVN for all those drills I wouldnt have the confidence to make these statements.
Sandstones means reliable. I dont know yet what volcanics really means.
As far as the volcanics are concerned as long as they dont water out completely within a year or 2 you can probably say they are worth pursuing vigourously but carefully (but not with the sandstones money,thanks)- you can come down a long way from 5000 bopd before the well becomes uneconomic.
Why have one drilling regime when you can have 2? Why drop the bankable regime for a largely unbankable one?
Heres to some more 550 plus 300 sandstone successes,soon.
At least we are back on course with heaps of worthwhile volcanic and sandstone prospects to drill,a very good oil price and hopefully a second rig soon. On that subject I notice that the drill programme delineates wells as "volcanic" or "sandstone" so that seems to put paid to the notion that each drill could be viewed as neutral as to which type it is-go for both and decide afterwards which type it was. This apparently clear division suggests to me that we will see 2 rigs and that 1 will be for V and the other for S .