Guys,
My impression from Ron telling me "he didn't want the share price to run ahead of itself" was simply that he didn't want it to run up to a $1 (for example) , only to have it collapse back because it had gone beyond fundamental share value, based upon value of the field development etc. I did not take it to be anything unusual.
I did say that plenty of board posters are raving on about conspiracies, to which he was adamant "There is no other agenda but to develop the Cambay Field".... he was very firm on that point !
Mandurah, I like your posts but I do think that trying to crunch the numbers based upon guess work doesn't help the share price. I work on Barrow Island, and as I understand it, trying to predict a wells performance before all the water is expelled is pointless.
My point is, just as Ron keeps saying, 77H is a "Proof of Concept" well. It was designed to prove that horizontal drilling technology will work at Cambay.... and in doing so gain approval from the Indian Govt to develop the Cambay Field utilising that Technology. Ron used the words "Baby" horizontal leg at only 350m for the 8 fracs. He also said that future wells will have mush longer Horizontal sections and he described to me the drawing potential of the longer Horizontal sections (which I relayed) , whilst also pointing out that then you don't have to draw too heavily on a long lateral well. Anyone who works on an oilfield will tell you that if you draw too heavily on a well you will bind (or collapse) up the fracs and kill the well. You don't want to be sucking from the well, you want it to be a long term performer. I'm not going to get wrapped around the axle over the performance of a 350m Lateral. What really matters is the concept works and we get drilling program underway to develop the field with some long laterals like they employ on Eagle Ford, etc, that everyone keeps posting. We have got some serious reserves available from our tenements at Cambay.
Cheers, Rusty
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