That's a big call given neither Canyon-1 or Canyon-2 hit free flowing gas from Lorelle sandstones. Elixir flowed approx 2.5mscfpd from Lorelle, and hardly in an optimal flow environment. We're yet to see the flow results from the remaining zones, and only 19% of the pay zone is being stimulated.
Shell is spending a rumoured $100-200 million on their horizontal program, around 10-20 (or greater) OMA's expenditure.
The notion that this is a competition is ridiculous; if one technology works for one company it will work for all, and we all benefit. I hope OMA can and will succeed, just like Elixir.
OMA Price at posting:
26.0¢ Sentiment: Buy Disclosure: Not Held
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