Just as when they had problems, we never knew they were fixed until we were told in the official news release. Testing starts this weekend / Monday ... and we will not know until the 16th or so.
All we can do between now and then is guess, but they had good natural flows with all the mud down there which is now cleaned up.
Acid can work wonders
Given it flowed a just at 1,700, I suspect with the acid it will hit 6,000 and settle down at 3,000 barrels. At $100 / barrel that’s $100m pa gross.
Most important it will confirm Reserves; my target is still 100m barrels worth $150m to Jacka.
And Dragon Oil to buy out all partners, thus funding Jacka going forward.
Best of luck to all
JKA Price at posting:
13.6¢ Sentiment: Buy Disclosure: Held