Perhaps I am being overly optimistic, but if Joann had 2.1 mmcf from one zone and we have three zones to perforate then BUR could move substantially over the next short while. Even if two of the zones contribute at much lower flow rates then I think this is still going for a run.
Burleson are drilling in the same type of "sweetspot anomaly" as Square Mile's Cannon #1 well, so the chances are that the flow rates should be better than has been found so far in the Heintschel field. Perhaps it is unlikely they will repeat Square Mile's success, but who knows where this could end up.
The Cannon #1 well continues to produce at 14.4 mmcf/d with around 5% liquids and so I think that getting 25% of this flow rate is quite realistic although the liquids % might be closer to 3% from Heintschel.
Anyway although I did stop buying for a period, I have topped up again in the past two days as it is looking good to me.
BUR Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
