re: Ann: Kansas well intersects 350 feet of M...
Cold fish,
U r using 30 day IP rates which means initial 30 day production rates. There is no way most of these wells will still be producing at that rate due to declining production over time.
AOK needs to drill and produce faster than production declines in order to achieve acceptable increases in production to justify the share price.
Kansas is disappointing but like I posted earlier, not unexpected based on Apache's quarterly presentation.
For the share price to increase significantly from here, AOK need to increase their Snake River acreage and hopefully achieve some above average drill results from their horizontal JV with Range. The oil price also needs to start showing some strength and start moving upwards again preferably above $92 from a technical perspective.
AOK Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
