"Austin Exploration today advises that the Pathfinder C11-12 No.1 HZ well has achieved an average derived daily production VALUE of between 350-400 barrels of oil equivalent (BOEPD)"
Key word Value not energy equivalent but value
When Copper Gold deposits are quoted in Copper or Gold equivalent terms its based on the value of each commodity
Anyway lets see but I think Cottee is a good operator and a straight talker so for him to say
"With this strong pressure flow it would be wasteful of time and resources to delay further for testing, so we will close in the well and install the ground infrastructure so we can bring the well to commercial production as quickly as possible. This result confirms a productive well, a strong business case for Austin’s 11,500 acres in the Niobrara and substantially de-risks the company’s future development path,” Mr Cottee said."
