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Thanks mir, I appreciate your updates. Please keep up the good...

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Moneytree

3,935 Posts.

07/11/16

14:31

Post #: 20422979
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Originally posted by mir911 ↑

We thought the quarterly read badly. So we needed some clarification on a few points.

is this well set-up going to get us there? absolutely yes, nothing in our view has changed. they are not the only ones who think that, they have had many independant reviews.

Is K4 stuffed? No, the pump at K4 is pumping at the bottom of its design range and to deal with the over heating i believe they are pumping cooler water from surface into the well. The frac at K4 i believe is still bigger than the fracs at K2 and K3, so the well frac was smaller than designed (but good enough), but the trade-off for that was a quicker de-watering time. K4 was drilled at a slight angle which contributed to the screen-out when fracing. In future they can still drill at a slight angle but must enter the coal seam straight.
K1, what i believe they meant in the quarterly; after they have achieved their current goals, they may do a larger frac in the 35m zone and open up the lower zone, which has already been frac'ed to increase reserves.

I should know more by the end of the week.

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Thanks mir,

I appreciate your updates. Please keep up the good work.

Cheers,

STX Price at posting: 8.3¢ Sentiment: Buy Disclosure: Held
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