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Is LAR on a leash?, page-10

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gassed

23,520 Posts.

2418

17/07/14

10:11

Post #: 13672298
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Originally posted by whisky49 ↑

DJ the solution is in your hands you either trust that the Geos at the site are doing is the best for the long term future of the well or you don't, its that simple , if you don't then its best you bail.
If you don't read , understand or believe in what the updates say then there is no point in giving updates and is probably why they don't give many, the ball is in your court.

There is absolutely no economic sense in operating a well below its capacity without a good reason but I doubt they will push their luck untill #5 flows.

The gas issue is something that has increased since the start of production so has changed their thinking somewhat

"The well continues to produce from natural reservoir pressure without the need for a submersible pump to assist flow rates, which is usually required for producing these carbonate reservoirs. The well production plan is to continue increasing the choke over a period of time to establish the optimal production rate for this producing carbonate section. The Operator estimated that following the initial flow testing program in June/July 2013 this producing 6 foot C17 carbonate section (2846-2852ft) could produce in excess of 1,000 bopd on an open choke based on the flow rates recorded to date on various choke sizes up to 32/64ths, together with the downhole and well head pressures data from this zone. But this will not be undertaken as it is likely to damage the reservoir and inhibit the zones long term production potential. "

They have also stated but I haven't time to find the reference that the are waiting for the gas pressures to subside to allow better oil production and that they will increase the rate over time, they have never stated what that time frame may be.
They are also waiting for the gas pressure to ease so thy can perforate the 6' section above which has better log results than the one they are currently producing from and would likely give a good boost to production.

This zone is producing 170 BOPD under its own pressure and with no water, enjoy and hope they make another increase soon.

Cheers Whisky

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I totally agree with Whisky's views on the production rate from A#4. Sure, it absolutely begs the questions that DJ has raised and it is a banquet table for the conspiracy theorists.
A#4 is this company's ONLY SOURCE OF SURVIVAL at the moment. The zone that they are in is geologically fragile and they are just letting it run under natural pressure until the gas issue is resolved, but, most importantly until they see what they can get from A#5.

And that is exactly where we are NOW, right at this very minute!!

So, I have absolutely no problem with the logic behind their current decisions.
It's all very well for an expert to give numbers, but, A#4 is just one very small job for them, but, A#4 is CTR's very lifeline.

Unless, of course, they push A#4 harder, stuff the whole well up, have no income, BUT, they can then have a great excuse to go back to their "mates" and stuff a few more million shares into their pockets and further dilute the IC.
Now, why didn't one of the best story writers in this forum consider that scenario? It would be the classic perfect finale to what would have been the greatest sting of this century!!!

Let's just wait to see what's in A#5 and then see what management does.

I am punting on the well, period!!! That's all you get with a ONE CENT bet!!!!

CTR Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
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