4) You say that after the vertical well we’ll need horizontal well or wells which would effectively take us to production. I thought 88 Energy would not go into production.
DaveW: No. That’s probably a mis-communication. It’s not that we’re not going to go into production - because even this well is going to produce. We’ll be in production If we get this well right.
So - Kundi #1 which is the well that was drilled in the Eagleford which we’re emulating with this play - that flowed about 150 barrels per day. So we can get 100, 150 - that’s possibly a question someone might have asked about our expectations. How that extrapolates into horizontal well performance, it’s 15 to 25 times. So that should give you some idea of what we want to get.
But that would be production.
So there was never an intention to communicate that we’re not going to go into production, because we certainly want to do that - but we will not be the people cutting the cheque for 1000 wells times 15 million dollars.
88E Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
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