WCL 0.00% 39.5¢ westside corporation limited

Update on 8a lateral blockage from Drilling Update 26 Nov...

  1. 263 Posts.
    Update on 8a lateral blockage from Drilling Update 26 Nov 09

    "Other Activities
    The Tilbrook 8 lateral well is blocked in one lateral (TL8b). The Tilbrook 8 lateral well continues to produce gas from one lateral (TL8a). After several attempts to clear the blockage
    in TL8b without success, the well is coming back on line and water rates remain encouraging"

    This was announced a few days AFTER I questioned WCL on the black hole of news since June.

    It seems from the 26 Nov "other activities" announcement that the blockage in Tilbrook 8a lateral, may have been unblocked and water rates are returning to the level they were before the blockage occured. WCL was trying to get the flow rates to be approximately 650 from lateral 8A. 500 is the magic figure to get knowledable broking houses take note. WCL was getting there before the unfortunate blockage.

    If this is the case, the major frustration for WCL to prove up the 2P could be removed. It is obvious from the nearly buried Other activities announcement, that WCL does not want to show elation, untill there are sure they have solved the problem.

    The main issue is that we may have had 2P reserves of 80 Petajoules certified by year end, had it not been for the blockage in Lateral 8a. It is worthwhile
    noting that Bow has 55 of 2P and is capped at ~$330m (WCL has none at the moment.) 2p is the real test, not 3p.

    My understanding is gleaned from simply trying to ask what I feel are the right questions about info already announced.




 
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