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3.1¢ armour energy limited

Ann: Operational Update - Myall Creek Well 4A, page-30

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AllFuelledUp

4,783 Posts.

148

19/10/18

11:58

Post #: 36186067
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Originally posted by Kreno ↑

Nice to see managment finally come out with the flow rate Unchanged at 0.7 mmscf/D was obvious that it hadn't increased after no update after the perforations.

The tubing didn't seem to increase the rate either but we all knew that!

The viability of the well depends on the flow rate. With a low flow rate you get less gas during the life of the well. And still pay the well cost.

The GAP funding was the saving grace for the company here as this well has come in well below expectations holders can always call managment and ask them if they are thrilled with the result also the capex was very high given it took them 4.5 weeks to complete.

But its ok that's exploration and the company seem to be sticking to there plans and the sonner the next hole is drilled the better.

Nice bounce today off that 9.5c support zone.

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I've been watching that 9.5/ 9.6 as well. I was poised to get in but breaking down has me worried. Not sure where my entry on this one is...maybe if it hold 8.7??

And yes I would not be surprised if that Santos US$4.89 was set ages ago

AJQ Price at posting: 9.4¢ Sentiment: Hold Disclosure: Not Held
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