just got in to read the annoucement...
Sands alittle on the thin side,
Too early to say if the well is uneconomic, but seems to be heading that way... Nothing of major detail in the announcement like condensate or not, flow testing, follow up appraisal well, pressure measurements......
so its not over yet...
market thinks it is...
Some Other successful wells in the vacinity have similar sand thicknesses....
Wireline logging results will be interesting and with a possible appraisal well, looks oversold......
maybe the outcome could be, siphon uneconomic as a standalone project, but with a few more development wells siphon 2-3-4 could draw a nice company earner...(like stanley)....
the wells are cheap to drill... could be a nice 100 BCF with major infrastructure moving in over the coming years.... so perhaps a plug and wait.....
as I said, the outcome of this well will only delay or speed up the inevitable future outcome of NGE...
and that is at least one, one billion dollar permit...
encouraging start....
.^sc
just got in to read the annoucement...Sands alittle on the thin...
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Mkt cap ! $41.50M | |||
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