I noted in the EKA thread a pretty impressive quote from that report.
"The Apache Giesenschlag-Groce well was the best performing Burleson well drilled in the area since 2008 (when Apache drilled approximately 20 wells. It has produced 50,000 barrels of oil to date, with a horizontal lateral of 3000' using a 1 stage frac (page 24)"
If a single stage frac in the Burleson can produce 50,000 barrels in 3 years I wonder what our Sugarkane wells will be producing in a similar period?
I think the results of Rancho Grande, Morgan and Turnbull 4 are really going to start to get some of those EUR adjusted.
Usually in the Quarterlies' I'm most looking for average production rates over the 3 months, but more than anything else in this AUT quarterly I'm keen to see the production rates from the above 3 wells (and more), 90 days after we've received our last production figures from the company.
It's pretty obvious why AUT is at a large premium to other stocks. The economic's of the wells are incredible and with Marathon upping the drilling schedule (2 fold) in AUT's areas next year this makes for exciting times over the next 18 months.
AUT Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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