Malky says: "...of which the gas is already being sold" Yet the RNS states: "Facilities have been in place since completing the West Copperline 29 Fed #1H well (the "1H well"), so oil and natural gas from the 3H well are already being sold." Sounds like an odd thing to get wrong. Probably nothing worth worrying about.
cheers for link and some interesting comments there, we have some catching up to do SP wise here...
Today's info from our favourite blogger , Malky Graham-Wood. Caza Caza has announced that the second horizontal test well in the 3rd Bone Springs Sands on West Copperline, New Mexico has been another significant success. The 3H well reached TD and fracced with a peak flow of 879 b/d of oil and 1,374 mcf/d of gas, cumulative flow of 1,108 oe/d of which the gas is already being sold. The company say that there is “significant upside” in separate intervals and in the deeper Wolfcamp. The key here is that it has discovered meaningful hydrocarbons in the 3rd Bone Springs and that, economically the find is enormously efficient. The market have so far failed to appreciate the value in Caza, maybe this is due to its size, having few institutional holders, or maybe the long memory of the retail investors. Either way, all should revisit this play, my asset value following this will be in excess of 30p a share, possibly much more and as a trade sale in the medium term is the managements plan an exit route is being considered. If the drilling programme now possible with these successes is carried out the takeover wont be at 8p a share I am assured of that.
I am sure once these yorkville shares are out of the way there will be nothing to hold back the rise . A few large volume days and they will be out . This RNS is a quality update
morning mate, almost red now, this will change the question is when? operational results will eventually force this,
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