In the Strachan Corporate Report it says that the payback for this recompletion for $35K is two weeks and that this well alone will generate $500K of Net revenue in its first year. Not a bad ROI.
I think also with the pressure that they are getting (400psi) from the well we probably will see an upgrade in reserves as noted in the report.
Henry hub gas prices are also holding up well and are close o $3.00.
Interesting to see follow up recompletions.
IOG Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
