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Branson,
"ADUK, firstly good to see you back posting."
Thank you. I'm a sucker for punishment, so check in now and then to see how the story's panning out.
" Hope life is well in Niort?" Other than a 19:00 - 06:00 curfew, having to wear a mask in the street, all the cafes and restaurants closed, plus not being allowed to travel further than 10 km from home (making it really hard to scare up a poker game), life is hunkey-dory.
I think the BOD are weak , dancing to the tune of bondholders and making statements that protect them from personal liability should this all go wrong it is a no personal risk strategy and they are being over rewarded for doing nowt for at least 6 months imv.
"well 6 is still flowing at a commercial rate."
Is it? what's a commerciak rate?
Is it generating enuff cash to repay the bonds, plus the equity cost of capital, plus decomm costs, plus the necessary gas solution? (NB no word on this from HUR/OGA; permit to flare was 3 years only, I think!)
Is it commercial enuff to justify FFD?
the market is saying no to the above.
ADUK, firstly good to see you back posting. Hope life is well in Niort?
Regarding Dr Trice, he may have proven you can extract oil from FB commercially, but he has cost investors hundreds of thousands each in many cases. To be fair if COVID had. It precipitated an oil price crash, we would have had the cash to get ourselves out of this mess. But with a fair wind and higher oil prices , there may still be hope.
"That last CPR needs looking at further as obviously someone thinks it stinks"
Diver,
I think everyone has had quite enough time to look at the last CPR and pick holes in it. What is now awaited is the new one, with a new 'model' explaining why the last interpretation was so wrong'
And either way, the CPR will not be compiled be anyone 'competant' in fractured basement reservoirs, because they are few and far between. One of them being Dr Trice, whose well 6 is still flowing at a commercial rate... Proving his point, which was all he was out to do, anyway.
Always thought something was amiss.That last CPR needs looking at further as obviously someone thinks it stinks