are you all asleep, page-20

Hi guys,

Was out last night and didn't get home until late so I didn't check for announcements until this morning. Great surprise (in that we finally got an EARLY announcement!), very solid flow rate.

Been a bit of talk about what the current production rate is. I'd suggest that at this stage the production figure is a bit lower than people are saying. L44H-D1 had to be "offset" (to quote the announcement) in order to drill the NSE multipad wells. That well was flowing at around 3700 bopd from memory, and they have so far added 1250 + 2250 = 3500 from two of three wells in the NSE multipad. Means the NSE-A4 only needs to flow at 200 bopd to make the multiwell strategy a success at that location.

All will be revealed in the quarterly next week, but most people are not subtracting the L44H-D1 well when calculating current production rate.

John, good post, completely concur with the reasons you give for weak current SP. Last 2 anns from CVN have been great, but we're still at ridiculously low levels. It will turn though, we all just have to wait for the market to turn I'm afraid.