EEG 2.13% 24.0¢ empire energy group limited

Ann: Drilling Update , page-4

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  1. 913 Posts.
    Imo, I don't think results from the Kansas drilling program thus far have met the the Co's expectations, hence why they're now looking to target the other formations. I think the initial targets were approx 30-40 bbl/d per well? Putting everything into perspective though, the Kansas asset is not an exploration play, it is an oil producing asset consisting of 256 wells which as of April is producing 550 bbl/d and providing the bulk of EEG's revenue. Any new wells that can be added are a bonus, provided they flow well. The recent polymer recompletion looks promising (what does it cost?) with another 4 also planned for this year. Will be looking closely at the coming quarterly for progress in other areas. NY fracking decision getting closer.
 
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