re: flow rates xanadu242 or anyone elseHelp me out here - On 16...

re: flow rates xanadu242 or anyone else

Help me out here - On 16 June IMP clarified its announcement earlier that day and state

"For the first 10 wells undertaken by the joint venture, the average open flow rate is approximately 950mcf per well per 24 hour period (4.5 inch OD casing).

Yet in the previous announcement on that day, IMP also stated that average estimate recoverable reserves were 374,000 mcf per well.

950mcf x 365 days = 346,750mcf ie reserve life of only just over 1 year.

Yet IMP has also stated in the announcement that a typical well will produce for in excess of 40 years.

Unless production rates drop off a cliff after a few days, this just does not add up, unless I am missing something which may well be the case.

Can anyone clarify?

Monty