Charl, thought we may have been on the boundary of the gas/oil corridor, thanks for confirming.
Yes, not achieving designated time lines but after 4 years waiting, happy to get to this stage. Yes, we don't have to
recover 100% of frac fluids, so assuming that the work-overs have been successful then maybe only another 30-40%
of fluids remaining to be recovered. Could be 10-14 days away from last ann which would make it Thusday 14th or
Monday 18th to announce full clean up. The only disclaimer here would be if we had to install a jet pump to speed
up the flow-back. This would be a bit unusual at this stage as there has been no water formation {which would
require artificial lift in the early stages of a wells life}. Most oil producing reservoirs have sufficient potential to naturally
produce oil and gas-which are light- during the early stages of production. If natural depletion occurs {say 80% of
the basin has been recovered} or water eventually encroaches then pressure will certainly drop off then and it may
be economical to install a pump to recover the remaining HC's.
We should be at the "easiest" stage of the process by now, all of the hard bits are behind us. Let's hope for news
within the next 7-10 days--that's realistically what one can expect IF the well is flowing back under its own
pressure.
Topped up a tad on the oppies today after converting some of those heads.
Keep the faith and GLTAH
OEX Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
