If you catch this, thanks for your help on the drill plan - truly appreciate it.
I got a few more for you if you have the time.
MEO are using 60% as a recovery factor. Is there an industry standard figure for the percentage of recovery for gas in place in a field or is it arbitrary? Same goes goes for recovery of condensate.
How is a fields condensate percentage estimated?
oscarWon, I don't think MEO have disclosed any more or any less than other drill reports or plans than what i've seen by AWE, OSH etc, also weekly updates seem to be the norm and not the exception.
"There will be technical terminology and perhaps negatvi sounding terminology like plug and abondon that most holders will not understand what it exactly means...".
This is the case with every drill. It's not MEO's job to run a kindergarten class in gas drilling terminology for every retail investor. No one else does. The terms used are mostly common place among all operators and meanings can found readily.
Every investor should try to get used to the terms in drilling reports for when the crunch time comes. A few choice words in these reports make the difference between financial pleasure or pain, and while you're busy trying to figure out what the words mean the pro's are busy buying or selling the news. By the time you figure it out you may have done your balls or missed a chance to throw more on the table.
As for CUE i couldn't give a stuff about them. If CUE were any good at this game they would be the operator. Why is it they farmed out? They couldn't arrange to get the seismic done, let alone organise to drill it.
I view CUE as more like a real estate investor, squat on a lease for a while, don't have the capability to do anything with it and then have to farm out to the pro's to do all the real work (operate it). Only way i'd even remotely look at getting into CUE would be doing it through Octanex.
To state "I personally don't believe any one on Meo forum". Well that's your narrow minded petulent prerogative. Personally as far as the MEO threads go i'm more than happy to read the posts of many on here. Would i base my investents on the information that's written on here? No and nor should anyone else.
MEO Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
