HHR 0.00% 0.7¢ hartshead resources nl

I will pretty much know as soon as they give us a FTHP reading...

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 2,207 Posts.
    lightbulb Created with Sketch. 501
    I will pretty much know as soon as they give us a FTHP reading and flow rate.
    If this flows upwards of or >1-2 mmscfd ( I'm not sure what's expected) ? I can only guess what a lateral well of some 1-2 km with say a 16 stage frac might do

    Yes, thanks for all your informative posts Kangaroos67. Most of us here are perhaps used to the binary outcome of wildcat oil wells over the last 5 years such as FAR, CVN, PVD & PCL etc... They either hit oil or it's a duster & everyone knows instantly on announcement.

    So, as this well is more complicated & news flow coming over the next 6 weeks, I tried to do some research, self-education, so as not to rely just on K67's& others interpretation of Siciny-2 updates.

    The nearest example (in terms of flow rate testing) is perhaps RLE's Tamarama gas wells in 2018/2019.

    Here are some of their operation updates from 2018/2019:

    The first two below (Oct/Nov 2018) is about where we are at now:

    https://www.asx.com.au/asxpdf/20181108/pdf/4403d3b857lktg.pdf

    https://www.asx.com.au/asxpdf/20181119/pdf/440dnfp0j1cqkr.pdf

    Then in Jan 2019 they were 'encouraged' and 'confident' by an initial flow rate of 2mmscf/day (which is what K67 alluded to in the above post)

    https://www.asx.com.au/asxpdf/20190121/pdf/441zdn8mmm9q34.pdf

    https://www.asx.com.au/asxpdf/20190129/pdf/44246hckhy5j8l.pdf

    But by June 2019 (they went go-slow for a few months while they screwed everyone on the back of, positive news flow, with a 10.5 cent CR), they then announced their well test commencement:

    https://www.asx.com.au/asxpdf/20190611/pdf/445r6f8rtkwmx0.pdf

    By July 2019 it all went south as the extended flow test rates were less than they had hoped for:

    https://www.asx.com.au/asxpdf/20190730/pdf/44703k1l2rhf70.pdf

    So, two things emerge from this tale:

    1. It appears ANA's management win in the integrity stakes so far (my opinion only)

    2. Even more importantly, and the main purpose of this post, is that initial flow rates are only indicative and we won't know result until long term test is complete.

    .
 
watchlist Created with Sketch. Add HHR (ASX) to my watchlist
(20min delay)
Last
0.7¢
Change
0.000(0.00%)
Mkt cap ! $19.66M
Open High Low Value Volume
0.7¢ 0.7¢ 0.7¢ $10.62K 1.517M

Buyers (Bids)

No. Vol. Price($)
4 1883670 0.7¢
 

Sellers (Offers)

Price($) Vol. No.
0.8¢ 6852839 6
View Market Depth
Last trade - 14.11pm 15/11/2024 (20 minute delay) ?
HHR (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.