I'm finding it hard to assess the economics of the wells like how many barrels it will take to pay off a well. Then how many wells we can afford to be duds. How much variation could there be from that general $200k cost?
If some are semi-duds, what are the overheads of reworking them to bring a good output from them again? I wonder what the added cost to each well is of moving between pay zones. Would that make it a lot more labour intensive than other wells where this doesn't apply?
The Gordon wells look ok if they can hold with minimal declines.
Might have to wait another 30 days to feel more confident about decline rates....
FDM Price at posting:
17.0¢ Sentiment: None Disclosure: Held
