Regarding - "Has pressure returned to previous levels of 4330 psi in the reservoir or is it still in the 2250-2500psi range?"
The pressure of 4,330psi was the calculated reservoir pressure and the pressure of 2250-2500psi was the flowing pressure in the lateral section of the well:
21 August 2014
"Downhole pressure and pressure build-up surveys conducted during the initial flowback operation have been compared to frac operations pressure data and confirm the following:
Original reservoir pressure from pseudo-radial flow results of the micro-frac was calculated to be ~4330 psi, as announced on 02 July 2014
Flowing Bottom Hole Pressure (FBHP) in the horizontal section was measured to be between~2250psi to 2500psi."
We have not had any update on the well pressures - but a bottom hole flowing pressure of 2,250psi to 2,500psi is very healthy in my view.
OEX Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
