overview of sugarkane, page-49

wells cost AUS$16 mill, AUS $ did collapse recently..


that means eka share is very diluted.. $1 mill is vastly incorrect imho


re the expectations for kowalik, it is not expected that kowalik is going to produce at massive rates, many times the current ones, on a simple mud clean up..

i am hearing from investors here that their expectations of kowalik are this

"so all jvp's need good flow rates from the KOW well"

"They need a good result from this well, and quickly or will be sub 20 if not sub 10."

"if the kow well doesn't improve substantially on the last flow rates this share will be dumped, and i will be one of the dumpers, enough is enough,"

imho your waiting for a train to leave thats already left the station.. kowalik is not goign be a miracle well from where is see it..

again all imho and hope i am wrong more than anyone : )

so why not put down what figures your think are the expected flow rates that will be encouraging, good or disastrous? the current flow rate is already announced and imho wont be going up much at all (still hope to proved wrong on that in all honesty)

my view is that kowalik is at the bottom end of expectations, and the clean up of the mud is just a remedial task and will only slightly improve the flow rates..

my view is that 2mmcfpd - 5 mmcfpd is low to medium and anything from 5 - 10 mmcfpd is a extremely good from a 6000 foot completion.. this is 4000 and imho maybe not much of that is in the zone going by the flow rates..


so a 4200 feet long completion, and imho not completely in the zone throughout, with say the 1 mmcfpd is very good rate considering the circumstances (well was not cleaned up and possibly will improve somewhat). if kowalik had a fully 4000 feet completed in the productive zone that all the wells near by are, then it would possibly be producing many times the rate it is..

i think you will be selling pretty soon mick if your to be believed, as i doubt if your going to get much better from the kowalik well in its current completed state, and i hope i am wrong, but i have yet to see any stats that demonstrate a mud clean up will bring multiple increases in flow rates.. not trying to spoil the party, just being a tad real on expectations of a mud clean up.. would be nice to get wireline info and an update of how the well was completed.. make it easier on the investors to understand..

its obvious from those who have asked the jvp what is happening, that the answer is they are considering options, which in itself demonstrates i am possibly right about what the upside of a mud clean out can do.. so if the mud has blocked the natural fractures then a acid job could be effective, or if its demonstrating that the formation wont respond then i think a fracc would be an option on kowalik.. and imho only a frac could deliver the flow rates upwards of 5mmcfpd for a sustained period of years.. depends on whether the jvp has members with cash to do it, may be an interesting week!!


good luck to the holders, buyers and sellers..

for me it remains big picture and 4 wells, unless the sky falls in on our heads or something...

sorry mick ,, not picking on you but i have quoted you a few times, but i think values and flow rates should be put down and discussed for what they are..