It's the big unknown isn't it. I think the psychological effect will be more important with Defender because it's the first well and EVERYONE will be watching. So as a base rate, Terry has worked out an average for the surrounding area using IP rates from 31 competitor wells of 678 boed. ( Enercom Presentation ) Something around this number would give everyone a huge confidence boost and give Terry plenty of confidence going forward with the drilling programme. Looking longer term, Terry thinks these wells of ours should be good for 400,000+ barrels over the life of the well. Multiply that by 50 wells over a 2 year period and I would be pretty happy with that.
I just want to get this first one over with. It's been death by a 1000 cuts waiting for this last announcement to finally give us a number to talk about. I normally don't worry much about IP rates but this first one is starting to assume a reverence of biblical proportions. I just want it in the ball park, nothing more, nothing less.
OMR
Everyone is watching
SSN Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Held
