I received a call back this morning. Obviously I take everything from company directors with a pinch of salt, but it sounds pretty good.
Some of my questions couldn't be answered because it would entail giving away material information, but the fluid continues to be recovered under the jet pump (though a little slower than expected), and there is an increasing amount of oil in the mix (though whether that's 0.01% or 99% I don't know and they obviously couldn't say).
As I expected (and I assume what they said is true), no announcement has been made because nothing major has happened and they don't want to put out lots of announcements without much to say and little difference week to week.
They said all is progressing without incident, there's no problem with the well and nothing to worry about, though of course that is open to interpretation.
I didn't have my papers in front of me but from memory mentioned that there was a little over 100,000 barrels of frac fluid remaining in the well in mid November and the rate of recovery was 1,500 barrels per day (which after the call I looked up to confirm my memory was working) and was surprised to get a response along the lines of "Oh, is that what it was? I don't remember"
I said that at 1,500 barrels per day all the frac fluid would have been recovered before now, and he said that more fluid had been pumped in since then as part of the well cleanup.
Please note that the above is open to my own fallible interpretation or memory and shouldn't be acted on, I'm just throwing it up here in case anyone can correct me or expand on any of it or tell me what I might be overlooking. Do your own research.
Looking forward to the update in the quarterly.
TPD Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
