"Should Xstate acquire the asset the initial focus of the Joint Venture will be on substantially
increasing production levels with the potential to increase production to over 1,000 bopd".
I wonder what they define "over" as ? Maybe they are being conservative when they say over 1,00o bopd ?
It sounds like they can increase to over 1,000 bopd doing workovers only before they are have even started drilling other wells.
"As a result Xstate shareholders can expect several value creation milestones during
late 2016 and 2017 relating to increases in production rates and corresponding increases infield revenues".
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