There were a couple of points that I missed on my overview.
The first was the fact they are still looking for more land, They may be in a good position to make an aquisition if the JV has a cash component and I expect it will. I thought the EFS jv may have been it for now but it seems not.
The second point was that they are isolating the Strawn and Cline intrevals in SRH 4 and will only be producing from the middle and upper intervals of the wolfcamp plus the Sp/dean intervals.
I would imagine they are doing this to keep those lower intervals for running a Horie past.
SRH 3 had no mention of free flowing oil to surface while drilling and SRH 4 mentioned Gas and liquids to the surface from the Strawn only which will be now isolated.
This combined with the fact SRH 4 like SRH 3 had a very low key initial update means it will most likely will not be a high flowing well.
So Im putting those two wells down for a 100 Boepd each untill proved otherwise.
Cheers Whisky
GGP Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
