FPL 8.33% 0.7¢ fremont petroleum corporation limited

Ann: Fremont to Spud Vespucci 1 Well early October, page-31

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  1. 19,194 Posts.
    lightbulb Created with Sketch. 598
    I would hardly consider IOG a major. A tiny Oz micro like FPL
    some 22 wells for 55bbls per day. in end, walked away

    HZ1 was a horizontal into Niobrara. A 5000ft lateral from memory.
    It sat there for 5 years, after IP of around 400.

    It's never made a dime back and cost around US$5m.

    Gas processing is the issue here. They are only trying to permit the pipeline after 5 years of HZ1 gas. permitting will not be easy through these farms/property. Elk country etc
    There is uneconomical gas everywhere on property so far.

    30 day IP lucky to be 100.

    $70m + smoked out of this bbq for a $7m cap.
    They'll never make it back..

    punters stock.
    good DT one when it comes. ask all the last fellas here pumping it - its like a revolving door. with BEV as doorman lol
 
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