Ash creek oil cut increased slightly after 3 consecutive months of decline. It was originally said it would take 3 months to see a response to the water flood. The increase may be nothing but a bump in decline or it could be the start of rising production. The rise was only 10% (meaningless in cash terms) from may to june and i suspect we would need at least another 120% increase before it would justify additional workovers, should we get to that position then we are a good chance to keep developing wells at AC 100% ELK for increasing cash flow.
Oil cuts....
Mar = 3.5%....April = 2.63%....May = 1.85%...Jun = 2.05%
Cheers
- Forums
- ASX - By Stock
- ELK
- ash creek oil cut rises
ash creek oil cut rises
-
- There are more pages in this discussion • 17 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
LU7
Discover the strong preliminary feasibility of the Bécancour Lithium Refinery, showcasing resilience in a low pricing environment and a strategic plan to capitalize on future price recoveries