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Expected more from mgt with what they've done in the past....

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matyd

3,225 Posts.

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17/09/14

13:52

Post #: 13987828
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Originally posted by Spozzie ↑

I am unsure what the story is with Burkett but get a feeling that 100BOPD is about it.
As you maybe aware the success of the well is all about retracement levels and whether enough oil is extracted over the life of the well to earn a margin over and above the cost of the well. I think the average for shales is about 60% retraction in the first year but maybe wrong about that.
As suggested in my previous posts it is the next well where we should see results.

I think many investors have had enough and it is taking a long time for results to come through.
In saying that though there is a lot happening in the next six months.
As an aside technology is always coming up with new and more efficient ways to extract oil.
We know the oil is there, we know the acreage was picked up cheap......we just need to be patient.
I am holding and may buy further on any major dips.

Spozzie

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Expected more from mgt with what they've done in the past. Understand they may be standing by in Ill waiting for clear government direction on fraccing but where's those flowrates, what's happening in Texas and Sleeping giant? Cheers

SXA Price at posting: 23.0¢ Sentiment: Hold Disclosure: Held
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