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Yep, agree Gordon. I added a line around the refrack dates in my questions, just indirectly asking if they remain on track. Would be nice to learn daily flow has increased, let’s see.
Espen. I agree nothing has changed. The figures I gave a couple of days ago show how much Oilex could make if refrac is successful. Was merely pointing out that it is by no means a certainty. If it was, the sp would be multiples of what it is now. Atb.
Agree, but nothing has changed regarding this since a week. No time for getting cold feet at this stage, is there?
I’ve just enquired about an update on the C-77 stabilisation action/co-mingling with C-73, hence the hoped for increase in daily production figures.
Too right guod. Some talk as though that stated 75% COS means it's in the bag when it indicates that there is a 1 in 4 chance of failure. There also could be degrees of success depending on the uplift in flow rates. Guess we wont find out until August at the earliest. Gla.
At this stage an unsuccessful refracc doesn't even bear thinking about!
And if the refrac is unsuccessful ???… more dilution I guess
And does not factor in the upcoming gas price increases. Just seeing the debate around the windfall tax for the majors in the UK.. once they get this proper underway..
That's per well of course!
If the refrac is successful and the hoped for flow rate of 2 mmscfd is achieved, we are in a whole new ball game. That would bring in around £670k per month. If the new wells do 3 to 5 mmscfd thst would be about £1.0 to £1.7 million per month. Here's hoping. Gla.
Yes Conger, that looks about right. Great to have some cash coming in at last. Just over £100k per month. The average cash burn per month in quarter 1 was about £170k. Guess that will have
increased with production so still a fair way to go to break even. Wonder when they will switch to 77h where production might be higher? All academic in a way, as it's production after the refrac that's key to unlocking the potential. Atb.
Someone seems to think so Conger
Oilex’s Chief Executive Officer, Roland Wessel, said:
“We are very pleased with the support of existing and new institutional shareholders in the Placing. The placing price of
GBP 0.20 pence represents no discount to the current price and shows confidence that these shareholders see
significant value going forward. We are now fully funded for the July re-frac of C-77H and we also look forward to
increasing daily production rates.”
So just done the maths .... I make it about 4450 USD per day or about 1.6m USD per year revenue? before taxes COS etc?
Per day
2246 gas
2100 BOPD
Is that right?