It is disappointing that they haven't announced any flow rates from West Schenk 116B a full month after predicting that the flow rate could be 100 bopd. This tells me that the flow rates have been low / difficult to stabilise. Surprising also that Zivley is encountering these issues as 6,000 ft of conventional drilling is not unusually difficult, ESP given that this team holds itself out to be local drilling experts over a long time period. This is certainly a negative announcement overall. And for the haters, Paul is right - good announcements tend to be released pre open when everyone is watching the screens; whereas announcing after close on a Friday is a clear attempt to avoid too much attention and an adverse knee jerk share price reaction.
FDM Price at posting:
60.0¢ Sentiment: LT Sell Disclosure: Held
