It does seem like a big ask doesn't it - in excess of 5mmcfpd from 1mmcfpd. However, that is what they stated...
"It is expected that if the water can be removed from the well bore in the middle frac zones, the well can achieve the production levels closer to those recorded last week after setting of the first bridge plug, which included an initial flow rate of 5.6mmcfpd as detailed in the previous market update."
Just to recap what we know the next announcement will include:
1. An update on the "flow test of the isolated zone 6...to confirm a constant, water free gas production"
but could also include an update on...
2. A decision on "how to remediate the reservoir water entering the well bore into the lower and middle frac zones, which negatively impacts on the optimal gas rates achievable. Water free gas flow from fracture stimulation zones 3-5 would combine to add a further 95m of net pay to the production currently being achieved from zone 6."
3. Partners decision on "reviewing the alternatives for a fracture stimulation program on the untested gas sand zones 7 and 8. These unfracced gas sand zones, which sit just above zone 6, contain about 68m of net pay as compared to 20m of net pay in zone 6 and appear from the log analysis to have similar characteristics to zone 6."
4. Reference to how current well experiences will determine future drilling activity.
After the recent LKO activity I feel that there will be some bigger fish than the usual punters ready to jump on board if we receive any more than an update re 1.
Hope Lautrec doesn't end up paying more than the 2.6 to 2.7 he could have got over the last couple of days.
Only my ramblings of course and could well be wrong...again.
Good luck to all holders.
TSV Price at posting:
2.7¢ Sentiment: None Disclosure: Held
