"The company is also investigating methods to handle co-produced water and examine target areas which are less prone to natural fracturing."
What water, there was no mention of any co-produced water in any updates during PB3 (when I was pouring my money into it)in fact the words were -
"The well and casing design was optimised to ensure a successful completion of the Upper Pennsylvanian, avoiding the water production issues from behind casing which plagued Paradox Basin #2. The well design also incorporated a degree of local standardisation to match completion equipment and materials readily available in the Rocky Mountain Region. These changes minimised overall drilling and completion costs as did re-using the Paradox Basin #1 pad, reducing casing diameters and optimising drilling and bit selection."
That exert is from the annual report, released well after the testing of the well and during a time when we were all sitting on our oppies waiting for all the other promised reports. Go figure, it would have been handy to know about any co-produced water then.
This whole latest report is about trying to put the blame back on the contractor IMO and IMO we will here more on this as I believe this is just the start of what will become a blame game as it becomes obvious pipeline hook up is a pipe dream.
Good luck holders and I hope I'm proven wrong
B Rubes
GDN Price at posting:
4.6¢ Sentiment: None Disclosure: Not Held
