re: News: Oil Basins Presents at the 20:20 In... What I captured from the presentation:-
Farmin term
Seeking 100% funding for Backreef1 production test & 2nd well.
Purpose of production test
It is likely that Backreef1 is a low pressure well & need pumping, if this test can proof that oil flow 40-100m on a stand pipe , then this is sufficient to be declared a discovery.
News: Oil Basins Presents at the 20:20 Investor S, page-4
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