another drill success (4 from 4)

AMU is putting in an impressive performance on one of its recent acquisitions, announcing today the fourth successful well from its Reeves County program.

The net pay intersection of 34' looks excellent (just over 10 metres of net pay in Aussie parlance). No news yet on porosity or permeability, but nonetheless this should yield a decent flow rate.

As AMU have a very healthy 81% working interest in this ground, so expect this latest well to add plenty of production and profits to an already impressive score from the recently acquired Reeves lease.

The announcement also flagged another 2 wells have already spudded (Marshall A#4 in Archer County and Rash Barrett A#7 in Red Creek). In addition, AMU has flagged another 3 wells likely to spud in September - Olver #4 and Olver #2 in Red Creek will be back to back to RBA#7, and Rufus Hardy B#32 in Raccoon Bend. Based on a past drill success rate of 70+% I would expect plenty more good news is not too far away.