Totally miffed why the share price is so low. No logical reason...

Totally miffed why the share price is so low. No logical reason IMHO.

The majority of the decline was before the announcement of the higher water cut on 5 wells so I cant attribute that as the reason. On this topic, I note the following:

(1) "Unlike prior periods, 5 of the eight wells placed on pump in September had been flowing for less than 1 month. The initial production from these wells has been more heavily water laden than typical. While the Company believes this potentially reflects the unloading of some of the frac water that in prior wells bled off during the extended flow-back time, it is too early to determine that fact definitively. AusTex will report on the progression of the water in this cohort of wells in the coming monthly production updates."

(2) The Table at the top of page 5 shows that 5 wells moved straight from frac to pump with no / minimal time in flow testing.

Not surprising that they had more water given the above. Also the 5 wells which used this technique were the only 5 wells which had more water. It seems far more likely to be frac water than a bad well.


Still expecting significanty more than 1350 for October production. Closer to th 1750 mark. If I had the cash I'd be backing up the truck at these prices.