assuming the t2 and orct3 fracs do not split the coal seam and cause water flow/flooding like T1, then the initial flow result will include gas broken lose from the frac i.e artificially high gas flow rate. it will be several weeks at least imho post first successful frac, i.e. either t2 or t3, before any really reliable flow rate can be released to the market and a minimum of 3 months of a consistent gas flow rate above 2.5 mmfcd before any 2p or 3p reserve can be independently booked.
july is rapidly getting away and haliburton are still with stx so frac mobilisation imho wont commence until aug with fracs in sep/oct then with clean up ops we are probably imho looking a first flow rate for either t2 or t3 very late nov/Dec all going to plan.
thougbts?
i am still very keen ti buy post realising imminent profits from cvn which is in TH.
thx
adl
RLE Price at posting:
10.5¢ Sentiment: Buy Disclosure: Not Held
