Managing Director of Oilex, Ron Miller, said;
“It is a nice sweetener to continue production of crude oil which sells for an attractive price during flow-back and clean-up as some North American wells only flow water during early clean-up. To date, the data collected continues to support Cambay-77H as capable of being a high performance well compared to previous well designs consisting of vertical or deviated wells with single fracs in the Cambay Basin. As the first well of this type in the Cambay Basin to “flow-back and clean-up”, it is not unexpected for some remedial work as part of those operations.”
This news is positive and great to see nothing has changed in regards to the well being "high performance" ... Steady as she goes
OEX Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held