Hi snow,
They announced after they struck oil at Wizard Lake that they would cancel the drilling of wildwood to conserve money so that if the testing panned out OK, they would proceed to develop the field.
I’m expecting the drilling of Rex 2 sometime near mid year and the oil production to start as early as April.
Rex 2 on discovery of oil flows similar to Rex 1 should be connected to the production system fairly quickly and then it will be on to Rex 3 and serious cash flows and the appropriate upward adjustment to the SP.
At the moment the price of oil is doing the right thing.
Looking good thus far.
Saltbus
Ann: Quarterly Activities and Cashflow Report, page-37
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