FDM 0.00% 1.1¢ freedom oil and gas ltd

sentiment, page-20

  1. 257 Posts.
    Rowser - you need to ask yourself why they shut in the wells? A completed well that is capable of producing should be left open to maximise NPV. (Sifferent for gas wells which need to be tied in to pipelines but these oil wells just flow into tanks). The testing you refer to was completed prior to the cerification of Nash Dome reserves in Q2. If it isn't producing, it is likely that it has watered out, especially on a mature salt dome - that is the nature of the salt dome beast.
    I note also that the Nash reserves were derived from drilling 2 wells, yet as at 30 September they had drilled 5 wells on the dome. Again, ask yourself why was it that the 3 post-reserves verification wells (rather than test wells you refer to) never produced more than a couple of barrels in totality?
    I've read all the reports, more than once, and I don't like what I see.
 
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