Agreed, i'm simply suggesting that as a 10% player TSV are telling us what their being told. The announcemnet was not specific enough but we were all calling for one, so who do we know blame for the lack of infirmation in it? They appear to be trying to be as transparent as possible.
For mine: Why mention the water?, if its not an issue don't mention it, if it is an issue be specific, it may not have even been an issue but without specifics......
It looks like they were hoping to get a steady build in flow rate over the 2 weeks and it didn't happen. With only 20m of net pay I wouldn't think this would have been a surprise to anyone.
Not sure why they are now openning the entire well again, perhaps to get another good gas figure?
This now needs decisive action, they need to use every avenue to prove this well, the financials should not be a concern when everyone knows the gas is there!
The course of action seems clear and can be done in a logical order: a)Flow test all zones for a week, why I don't know? b)Cement squeeze the casing and flow test for 2 weeks. c)If water is present, plug at 4 or 5 and flow test for 2 weeks. d)If water is present, plug at 6, fracture 7 & 8, flow test for 2 weeks. e) If water is present, plug below 7 and flow test for 2 weeks.
Thats every option covered, at some point between a - eb we will have commercial gas flow, is it not almost that simple?
TSV Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
