re number of wells. Its note a case of number of wells per se, but the BOPD from each well. i.e. the long awaited MD 248 was muted as a possible game changer, with predictions of 100s BOPD. while the shallower wells produce in the circa 70-120 BOPD. A very simplistic response. but I hope it helps
Very amusing, Andy. I do appreciate that many posters could run the company an awful lot better than the former management and existing management and I wish you all well (sic).
Penny shares are gambling. Gambling is going for high stakes with money you can afford to lose. If in deeper than that, Gamblers Anonymous might be route rather than self-flagellation on share chat. I will hang in for at least 2 years and am sure a lot of those averaging less than 5p will also. There is faith in a celtic heart - and plenty of good news to keep me happy even when price drops from .99 to .97 (shock, horror).
It might surprise you to learn that there are more than one Welshman in Wales. I have only ever had one log in and only ever will, unlike many other posters on here as I am sure Admin will confirm. Nice try at silencing the opposition view though, are you sure you are not a politician. SNP maybe? :)
I just relooked at my earlier rationale and I think I might be too optimistic. Because if you have more wells in production, then the depletion rate would be higher so need to drill more wells to counter. Also current wells only produce around 50-100bpd (correct me if wrong). Therefore you need more like 12 wells a qtr to do 2-300bpd increase.
There have been outside contractors mentioned by PL and it is my belief that this will be needed. However this takes money since the rig market in TT is very tight. When that happens, you have to bid for rigs or bring in from abroad and that means $$$
from memory, using data about drilling the current types of wells, they drill 5 in Q4 of 2012 and production fell back marginally so it leads me to believe, to maintain level production (at that time around 800bpd mark), it would need at least 7 wells a quarter.
So to increase it, you would need 8 or above. Just a very rough guess, if you drill 10 a quarter, it would increase by 2-300bpd. That would mean at least 12 months of maintaining 10 well completion a quarter being more optimistic.
Question to ask is, how many rigs do you need to function optimally to finish 10 wells a qtr? Can someone help?
Also, of course, if MD248 (about to set a world record for length of time to drill a 6000ft well), turns out to be a gusher, it could change the picture.
Waterflood won't happen for at least another year and that would take money......
You are always quoting posting rules on LSE did you read this one?
•You will only have one login account. Registering with multiple accounts is not allowed. Any user found to have more than one account on this site will have all, and any future accounts suspended permanently.
Admin, please could you have a look at the IP address and login's of Celticheart and lewisycymoedd. Many thanks.
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