operations update, page-91

Folks, you should bear in mind that a well may be declared as being commercial but may still not actually turn out to be commercial. Normally such a declaration would be made around the time an IP rate is announced. But until the well has been in production for 30-90 days it is impossible to predict what the production curve will look like and therefore its payback period and IRR. The economics wont trully be known for at least 3 months, something cmonaussie has discussed in relation to his decline curve analysis, something I agree with.

IPs are nice to know, but payback, IRR, NPV and EUR are the key numbers, and they wont truly be known for some time.

Cheers, Sharks.

PS: good progress yesterday in the update, but thats all it is - progress, not a result (installing tanks is not a result imo).