Ann: Commercial Oil Production commences in Colorado, page-49

Not to be construed as (up) ramping, but technically @Autosime the IP24H of 98 is above the average P50 IP24H of 85bopd so could be considered as a better than expected result (P50 being the line in the sand).

That of course is weighted against the expectation that virgin ground would have greater pressure and so flow faster. That has to be considered against the fractures present ... not your typical well. Can the flow rate be improved with stimulation? Who knows. Who it be cost effective against the EUR ... who knows. Impossible to tell from the information released.

This stick was made by AKK with its 1,200 ft column filling in an hour. I believe someone called the P&D at the time. So be it.

Obviously 2 more bites at the cherry ... and the virgin card is not out of play with the fractures.

The big issues will be future development cost (how strongly do you believe in $500K per well, how much infrastructure and how to deal with the gas ... not so sure COGCC will accept a flaring solution for too long) and the realized price of oil sold (not WTI index) at the wellhead. Only positive Net Income matters (and if you need proof look at the litter of companies that outspent operational cash flow)

I partially agree with @dante941 mgmt wont like to raise at this price ... so next two need to raise the share price. Lets see.