ESPINSIGHT,
Tino Guglielmo has drilled many, many wells in his Stewart day within the Cooper basin, mostly aiming for the McKinley Member of the Murta Formatio and the Birkhead formations.
He knows these are cheap, shallow wells and oil production can be easily transported to market.
Production rates do vary from 312 to 2,000 bbls a day, Vintage Crop 1 is producing from the McKinley at 312 so I will be happy with that, and anything else is a bonus.
The market has sold down this morning on 130,334 shares and even though -22% on paper looks terrible it was only 0.15% of the company’s stock! If you look through Stewarts news releases Tino isn't scared about saying duster, it happens in the Oil and gas industry. So he would tell us.
A duster might still be the case, but at the moment I'm happy to have picked a few more, he has a high success rate, and we have 2 wells in total, one with a drill string test happening right now in Oil zone that he knows so much about.
We will soon see.
wireline logs indicate oil: drill testing now, page-15
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