We have read an announcement today that i think projects a destination of where the directors beleive we are going to end up. That gamble hasn't been taken, nor has it been crystal clear for sometime now due to us being under the guidence of Goldman Sachs who have been assessing us on an ongoing basis with a view to instill a new plan. Well that plan is here and I now have a justifiable expectation which i know is in line with the Company Heads. As shareholders, we have the Directors heads on our shoulders now instead of some rumour monger.
So in the next 6 months, we will be going to bring on 1 well at a time, of about six choicely performing wells, until all of the wells are in production.
As i mentioned yesterday, the priming and preparation of any existing well would take a few weeks minimum, but after that, seeing as we are not rushed, there is little chance (in my opinion) that we will ever experience hydrates again. We (and any company buyer/farm-in) will always be able to depend the historical logs and learning surrounding the bringing online of wells. We have 3 yrs experience in that area.
My thoughts, expectations/probabilities and notes re some figures floating around from the recent past:
- With a clear path to reaching the historical 5-7million cubic feet per day from one well at clear creek, i am confident that the old 20mmcfper/day figure will be back on peoples tongues. If we only got 3mmcf from 6 wells, we would have 18mmcfpd. If we do consistently receive the demonstrated 5-7mmcfpd from that one specific Clear Creek well, then we are already 25% of the way to 20mmcfpd.
Thoughts on what this ann means to you will be appreciated :-) Cheers
L
MAE Price at posting:
18.5¢ Sentiment: None Disclosure: Held
