So if we are currently sitting at 94.2 boepd. We have the well announced yesterday CT 15 11% WI / CT 14 20% WI all of the others CT 10/11/12/13 where we have little sniblings in but will add to our daily output. If we use a conservative figure of 350 boepd which i believe is average from CT atm, CT 14 would add 70 boepd CT 15 35 boepd and the rest make it up to say 15 boepd makes it 120 boepd on a conservative calculation now i dont know how to work net results out? haha. But add that to 94.2 boepd
' In the most recent Quarterly Operations Update the Company's daily production rate stood at 60 boepd net to NTOG. The addition of the production from this well and the recently announced CT7 & CT8 wells represents an approximate 57% increase in total daily production.'
It doesn't explicitly say we are producing 60boepd at the time of the new wells coming online, just it represents an increase on the latest market available figures.
My interpretation of the announcement was that WARD have taken over operations of the well, which gave NTOG 11.62%, i doubt it will increase.
It just shows that, while this happened in our favor, it could also happen against us. I like how ML waits until everything is sorted before announcing to the market. Imagine the SP dump if CT14 WI% was cut by 50% :/
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