Also of note, cost of the well thus far significantly under budget, I hope Nelson are involved in this well as a minor partner to, as it might give them an alternative method of completing wells on the rest of the leases where Anadarko is not involved.
We might be talking of savings of $1M per well which would translate into a $400K saving per well for PYM or $12M in total on 30 additional wells.
Which would be a vast sum of money compared to PYM's market cap etc.
I'm in the market for some more shares, far more upside potential than downside risk, picked up a few more shares already.
If you look back at the 13H well, they had to go through the same proceedure to get that one flowing at 1167 bopd. Use Nitrogen injection to remove the mud and fluids and then shut it in for pressure build up before getting it to flow properly. So exact same senario only Anadarko have had a few more wells to practice on beforehand so will know exactly what they are doing.
Very relaxed now, will just wait for the flow rate when it comes. Depends when the well was shut in but Monday maybe pushing it to get the flow rate news, as the 13H well took 7 days I think.
LOTM
PYM Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
