The major issue with the initial farmout was the estimated well cost was way below what it should ave been..
Look how I have been rabbiting about this issue with tpt.
The prospectus tell us far more data than the drilling report, I have to say this info should have been released at the time.
Poor show by all concerned and is a red warning flag
Now I am uncertain on the total mud lost and LCM but I am told only a few days ago it was huge. Even with this the well tried to flow, but the LCM glugged up the DST gear.
In hind sight another repeat was needed but due to terrible cash flow problems, rig issues and the kitchen sink they decided to suspend the well.
The rest is history...
Ps good fluid flows should be expected from open near to vertical fractures such as at hw3. That is not my main concern.
It just the lst has zero matrix porosity so all u are hoping that all the fractures in the field are connected so a few wells will produce millions of barrels of oil before the water cut get to high..
Dreaming as an offshore play..
Enough from me for now.
JKA Price at posting:
8.3¢ Sentiment: None Disclosure: Not Held
