229 barrels of water and oil being recovered per day AFTER the plug was fished out, AFTER further acid washing,
AFTER all the remedial work over the last 2 months. This with nitrogen lift, albeit with a reduced choke setting.
The well recovered about 1200 barrels of water per day and approx 75 bopd in the 1st 7 days.
Doing some calculations previously, I estimated {prior to the last 13 days off-line due to a stuck plug} that there
were 5500 barrels of water remaining of the ORIGINAL frac water used PLUS I estimated 11000 barrels of
ADDITIONAL water were used to flush the well, leaving 16 500 BOW in place. I contended that if we could
flow back 2/3 of what was achieved in the 1st 8 days then we should flow back 800 BOW per day, 20 days to
clean up in other words.
Well, at 229 BOW per day, that would equate to 72 days to clean up. Heaven forbid if they dispensed with the
nitrogen lift or reduced the choke size even further. We will be here till Xmas and beyond. No wonder the Oppies
got smashed {Expiry SEP15}. And they have the GALL to state ; " Subsequent to the operations described above and further chemical treatment, flowback and clean-up again recommenced including recovery of frac water, oil and gas and the well exhibited significantly improved performance. " Improved performance compared to WHAT???
And now they give us a gas flow rate, 2 months after the event, but no more oil flows. Lack of info,
spin, spin, spin since 21/7.
I think the wheels have just about fallen off this cart. We won't need good luck from here, we will
need a proverbial miracle.
OEX Price at posting:
9.8¢ Sentiment: Sell Disclosure: Held
