re: Ann: Wilcox Update - Heintschel 1 flows g... You are missing the point Mick, BUR has no cash after drilling these wells! Just beacause we have 225 feet of gas bearing sands does not mean we should expect commercial flow rates from that zone.
The whole point of this round of drilling was to confirm that KG`s 3D was on the money.
With Moeller, I have not seen quote........... *the potential to contain 100 billion cubic feet (bcf) of gas and 2.4 million barrels of
associated condensate.*
With Heintshel-1, I have not seen quote..........
*the potential to contain 7.2 bcf of gas and greater than 100,000 barrels of condensate.*
To date we have not seen quote...........*Success case: discovery of one large Wilcox field (gas and condensate) ~ 20 to 75 cents per share*
I had more hope this round of drilling with supposed quality 3D backing them up, but until I see some decent flow rates and some serious cash coming in then forget it. How do you propose they fund future drilling? Without diluting shareholders even more than has been done, I don`t see any other option unless they farm out more which will reduce their interest.
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