"Darwin"- aptly named. The survival of the fittest
I was of the belief that shorts only needed to cover if the
SP appreciated. I think they're safe for the time being. I can
only see the SP heading south with no further updates.16 days
since the last one and the well has been flowing back for 24 days
now, presumably with no further problems.Remember that 76% of
frac water had been recovered 24 days ago. We need 90% recovered
for a PT. 14% remaining, or my take on it ; another 4300 bow to be
recovered. 21 000 barrels initial injection plus 10 000 barrels for
flushing. Assume 200 bowpd over 24 days = 4800 bow recovered.
Maybe the flow rate was only 100 bowpd for the 1st 12 days and 200
bowpd for the last 12 days. Reported as 229 bowpd 8/10 ann. So that
gives 3600 bow recovered. Should be getting close to completion anyway
on those numbers.
It will all depend on the next 1-2 weeks max for mine. No update would
spell more trouble based on my rather conservative numbers above.
SP will be in the 5-6c territory if no ann after more than 2 weeks.
GLTAH
OEX Price at posting:
8.5¢ Sentiment: Hold Disclosure: Held
