smith-1 commercial discovery ? yes.

CaptainNelsonForties
Commercial discovery ?

Commercial payback from the well after covering all developmental costs. As this is a vertical producing well in Texas with localised infrastructure and easy tie in to the gas pipelines its not the most expensive developments by a long shot. The well is of moderate depth. Initial indications are of a very commercial well. However wells need to be placed on long-term production test to guarantee project payback and ultimate commerciality.

A positive initial production test followed by a full appraisal of the well performance (results in January) give a good indication of commerciality. Operator and management alike are already very bullish from what they've seen here already (its in the news releases). They're the folks on the ground, they're the ones that know the score and have all the relevant well data. I don't like losing money and only invest in companies where I like the risk/reward. I have put my money where my mouth is on this one too as I believe when this well is tested to optimal production, fully tested from all zones its potentially going to be a ripper and a short-term cash contributor to Range. No reward without risk. At times though the market hands you an opportunity on a plate Gulf Keystone was/is one, I hold several others and Range is shaping up that way from the results released to date from Smith-1.

Captain Nelson Forties