Starting to worry here feel fee to prove my figures wrong
-7th July Fracture simulation was complete
-14th July Milling operations complete
-21st July Update 40% of frac fluid recovered
-4th August update 55% of frac fluid recovered
So from my calculations:
8000 bbls were produced in 14 days (7th July -21st July)being 571 bbl day
3000 bbls were produced in the next 14 days (21st July - 4th August) 214 bbls day
No mention of presure in the last announcement which combined with the serious reduction in flow rate leads me to question how things are going on site. Surely a brief update providing current information is due by now with the last update 16 days ago. If we assume the latest frac fluid results and extrapolate these out we should have recovered 15,000 bbls by now or 75% of frac fluid. Surely the lab results should be due by now what information are they sitting on they do not want us to see. Is the fluid being recovered still frac fluid these questions are not getting answered.
OEX Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held