Once again, JPR has come up with the goods. The c1300bopd at J58 from a single horizon is an excellent boost. I’d been hoping that JPR’s wells could average >400bopd to facilitate good levels of production and cashflow and to ensure that the costs per well were not unduly slow to be recouped. Currently, this figure seems comfortably achievable (the production from the 4 wells mentioned today is averaging 675bopd). It’s not clear what we can expect from co-mingling production from T2A & T2B, but I’ll be happy enough to see decent rates from the T2A confirming it as a commercial find, as I fully expect. We also have the results from the Z sands to come, about which we’ve also heard nothing yet.
Unless I’m mistaken, looking at the flowrates today, J51 appears still to be operating within its maximum and J52 seems to have jumped upwards from the last figures we were given (J52 was flowing at around 300bopd in Jan). Production now looks to be strong for at least 90 days while the new wells are on test production, and it’s possible to extend this period significantly if the horizons are tested independently.
Looking at the wording today, it looks as though we’re being primed for a bit of a delay with the CPR, but I’d rather see them optimise the timing of the newsflow than just chuck it out and see the impact drift away.
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