I agree with you JMH04 if the Fusselman had been just profitable then may-be 12 months wait until they moved up to the Wolfberry formations now it is only 2-3 weeks. Another upside we don't need to drill that extra 1000m on the remainder of this lease, and may-be the other 3 leases will show major Fusselman formations, but regardless we will need to drill the full 3000m and check the potential on the other 3 leases in this area. I agree that 200+ barrels per day is likely from the Wolfberry Formations as they passed through a number of shale shows over 1080m.
TEX Price at posting:
8.0¢ Sentiment: ST Buy Disclosure: Held