They got a TOTAL of 99 bopd, up 36% (ie only up 26 bopd) from well 36. I don't think we can really read much into that at this stage, given that I assume the reservoir is highly hetrogenous and this was such a short section.
Results to date do however indicate that we are dealing with a management team who are prepared to give it to us straight and clear, in a timely manner, even when all is not going to plan, ie they are respecting shareholders.
I see USR as just the cheapest tool in the toolbox, and have little doubt McGann will unlock Selmo somehow over the next couple of years.
Selmo's potential remains as it was a week ago (albeit perhaps a little slower and a little more expensive to realise). News has however made the story 10% cheaper to buy into.
Entropylord
IPM Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
