As a guide as to how long it will take for the fracc spread to return to NWE:-
In the Quarterly Report released this AM by AWE, they indicate that the 2 wells to be fracced are Wodada Deep-1, having 3 zones to be tested, Senecio-1, having only one zone to be tested. Compare this to Arrowsmith-2, which has 5 zones.
Arrowsmith is between Wodada and Senecio.
It appears that the spread has gone to Wodada Deep-1 first, although I cannot confirm this. As there are 3 zones to be tested here, IMO it would only be a week before the spread returned to Arrowsmith-2. (On the way to Senecio-1.)
Presumeably, this will then test the most favoured zone in A-2.
So, even if the HCSS zone disappoints (as dinero, has pointed out this morning), the IRCM and the Carynginia formations have been indicated as the primary targets.
This makes the need for an '8 week programme' clearer to me - we just need to wait a little longer.
All the above is IMO only.
NWE Price at posting:
7.4¢ Sentiment: Hold Disclosure: Held
