Well actually the new oil flow has not started at all. All they have done is flow testing, which was majorly the removal of frack fluid, they stopped testing as soon as the oil flow stablised.
At some point in the 2nd quarter Rex will be tied into the systems and oil flow proper will start. New oil flow will not arrive in this quarter either, so you guys will be able to wring you hands and whine about the management all over again.
Nearly $4M in the bank and a pile of TEG shares.
No news today of when the next production well will be drilled. Maybe start being profitable when Rex 2 oil hits the market if flows are as good as Rex 1.
By Rex 5 all will be roses and they can go do another wildcat.
Saltbus
Ann: Quarterly Activities and Cashflow Report, page-5
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