People only seem to be interested in flow-rate type announcements and this wasn't one of them.
As for the info provided, this could be viewed from 2 ways, yes I agree they could provide much more information to shareholders and potential shareholders on the company's leases and I will be making that point to them in the near term, however this is very much a new play (only 14 wells drilled and PYM been involved in 3 of them) and providing too much data may not help you if you are trying to buy additional leases etc within the play, especially if you've just been alerted to ways of having much lower drilling & completion costs, which does wonders to the bottom line.
So I'd tend to be less pushy for now it that respect, but would like a much better understanding of where they are headed with the play, whether they are after more leases etc
There is so very little production history for any of these wells, which is part of the trouble when your looking at EUR's etc, decline curves and breakeven points.
The 13H well is a prime example, good test result, but we have waited over a month for a pump and then they are still trying to find the right settings for it. I know its not just down to PYM, mainly the operator, but that was a month when revenue should have been coming in bigtime and so just delays your return of capital by a month. It also slows down any idea of getting a good production history for one of these wells.
I just hope Anadarko are more on the ball and have flow lines, pumping unit onsite etc and get the well fully producing by the end of Feb, then we can monitor its performance going forward.
I hope for the next well the 20H or whatever one they choose to drill that they push the operator to have all the kit purchased and to hand so it goes into commercial production quickly.
LOTM
PYM Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
