re: Ann: First Oil Sales, Illinois Basin Oil ...
Approximately 25% of the lateral section of the Blessing 1-4H well has been modestly stimulated and by the previous operator. Pending positive results of this initial controlled pump test, the remainder of the horizontal section of the well may be perforated and stimulated exposing more reservoir to the horizontal wellbore.
So this is little better than a vertical well really, 75% of the horizontal section is not even exposed to the rock, could get a 3 fold increase in production just by dropping a perf gun down the well.
As to the Burkett well - High volume pump and stimulations better than expected seems like the right direction.
SXA Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held
