That is what was approved. What is drilled....well, we can only wait and see.
Not wishing to get into the second rig debate - what's the big surprise? They have the approvals. You can't hide something that big from the locals.
As to production guestimates - ADI has said publically that we can scale up for length from Kennedy's 2,200 ft producing interval. 3,000 bpd is just that for Easley assuming that it is drilled in accordance with the submitted plan. If you go on to the site and look at Morgan and Rancho, you'll see that the plans submitted show comparable lengths for those wells.
Can't see what all the fuss is all about. Separately, AUT is said to be confident that all 7 of the new wells will be drilled by the end of the year. That seems to be a bit optimistic with 1 rig. We'll find out soon enough and AUT will be making a public presentation within the next 2 weeks anyway. That could be interesting.
ADI Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held