Re: NWZ-2
It was perforated and flowed to surface and was shut in at the wellhead. The rate at which it flowed to surface was calculated to be circa 400 bopd based on volume, distance to surface and time taken to reach the wellhead. David Thorpe confirmed there is strong wellhead pressure awaiting the valve to be opened in the production flow test. In other words, the tubing is currently full of oil and shut in.
No doubt there is commercial oil on Block 31. J50 oil flowed into a truck and is high quality crude. Commercial sales commenced. The market can do what it wants short term. Let's see where the share price is after another six months.
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