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Ann: Corporate and Operational Update, page-32

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hubbo27

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14/09/21

17:20

Post #: 56058950
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Originally posted by danpech: ↑

You won't find much on individual wells on the CLR website but the SHE announcement has given some detail.

BRK have decided to allow SHE and SHE have agreed to step in for the whole BRK equity ( 0.21%) in the next 2 Randolph wells.

These are pretty big gas wells by the looks of things going of what is in Herring ( immediately to the west) where BRK have ~18% and the first Randolph well in the right hand corner of the unit.

To decode what the numbers mean

MOS = months production

CUM/EUR OIL ( MBO) = cumulative production / estimated ultimate recovery per 1000 barrels

CUM/ EUR NG ( MMCF) = cumulative production/ estimated ultimate recovery per million cubic feet.

So for the original Randolph well

1) the well has been producing for 36 months

2) has produced 89,000 barrels of an expected 148,000 barrels

3) has produced 7.16 billion cubic feet from an expected 14.34 billion cubic feet

This has been a monster well in anyone's language and you can expect the 2 new Randolph wells to be analogous to the first well.

What is good for SHE is unlike the first Randolph well, (where it stepped in after the first ~12 month production, and therefore missed the flush production) it will be better off because that won't be the case this time and you don't need to pay BRK a cent, you just have to fund the drill.... for a US$ 10 million well funding to production will be ~ US$21,000 per well

A real pity the WI is only 0.21%

I would have preferred you guys joined in for Rangers and Flames before we parted ways as IMO would have been better for both.... but it is what it is.

Good luck hunting in Australia, and I really do mean that

cheers

Dan

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cheers for the insight dan. yeah all i could find was the continental wells appear to be very large. i agree stumping up for rangers and flames would have been a very good option and a shame SHE is not. hopefully the move back to Australia pays off.

SHE Price at posting: 2.5¢ Sentiment: Buy Disclosure: Held
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