anyone know what gives at EOK South - annual report published 1st October states -
"Following the successful acquisition of East OK South, the Company completed a program of work designed to stabilize and where possible improve production from existing wells and to improve the efficiency and profitability of the Wagoner "A" processing and compression facilities. This program was successful generating initial increases in production and delivering significant direct operating cost savings through the replacement or "right sizing" of equipment in the compression and gas processing sections of the plant."
and then goes on to say
"Current gas production is coming from a limited number of the wells acquired in the East OK South transaction."
That suggests to me that -
1. aside from the West Tulsa oil the only revenue being generated is from the EOK South wells.
2. the reworking of wells at EOK south is finished.
3. operational costs have been significantly improved due to ...........
Would I be right in saying that?
What does "....successful generating initial increases in production...." actually mean?
Comments anyone?
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