In regards to the director.. even if he is dumping, if TSVs results were good enough, the shares would have been snapped up. They have not...
As you say TSV only did small fracs, but that was their plan, they basically got it wrong. So their original costings will be out. If larger fracs are required, many changes will have to occur to be able to do so, this I would think will have a direct consequence on the viability of the project.
I was not saying that W5&6 would be commercially viable, but that future wells would not be considering the depth and current flow rates from the wells that have been fracced. I say this because the wells have cost IMHO $10+million.. which is never ever going to be commercial. I am only working with the data they have provided to the market, anything else is pure speculation and has not been proven by better flow rates. Which I am guess is now going to months perhaps even next year before being achieved again?
Has TSV explained to the market like STX what they need to achieve to reach commercial production from a single well? STX wells are much shallower and have a total cost of approx $3.5m including stimulation. The flows they require are likely to be as little as 2mmcf/d
Anyway, good luck to holders, hopefully Alcoa's $$ has not run out yet.
TSV Price at posting:
1.8¢ Sentiment: None Disclosure: Not Held
