The latest monthly results were increased (not reduced) due to an increase in choke to 10mm. They averaged, in December 7mmcf gas and 239 bbl condensate, compared to the November average of 6.3mmcf gas and 216 bbl condensate.
I think they are on the right track with getting the 3D Seismic acquisition done over Soro to improve their selection sites for future wells.....more time though as results not out until mid year, however if Soro-202 is a success with the increased output (expect double) and increased finances...also about mid year...then they are heading in the right direction.
Regarding Chets, the fact they are getting a technical evaluation done in Q1 this year and if needed, 2D or 3D Seismic data over all the Chets license can only be a plus, and shows they want to drill successful wells with all the help needed, to get to the goods.
They are being thorough and careful which is a great move with both the licenses, so good on them.
Yes, not instant results with this company, but if they come up with the goods, worth the wait.
HOG Price at posting:
17.5¢ Sentiment: LT Buy Disclosure: Held
