Q:-Company has a policy of not releasing flow information on single wells. A:-Good sign that they are not fixated on one result. You are tunnel visioned but they are looking at the company production as a whole.
Q:-Company has a policy of not releasing flow information on single wells. A:-Good sign that they are not fixated on one result. They are tunnel visioned but are looking at the company production as a whole.
Q:-Net Pay does not mean a single oil bearing structure and could be lots of small pays added together A:-Coulda, woulda, shoulda as my wife says to me. This is just a possibility and not a known fact about these wells.
Q:-Well 3 did not take place. It would have done if cost effective as the pad had been prepared. A:-Answered your own question. Company policy is to spend funding on water flood to reduce risk and a third well was not a good use of funding at this point and with oil price risk.
Q:-No drilling in 2017 so hardly a sign of flows that will give a ROI. A:-The company looks at the profitability of production in the best interest of shareholders. Water flooding provides the best profitability which they have been stating for a long time. This is company policy.
Q:-Downgrade of P1 reserves A:-Fully explained by company which all those who have read the report would understand.
They are testing two wells on one platform so they cannot do both at the same time, then they have to get flow rates once the wells are in production and that could take a while as they find the best balance.
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