Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Morning Illusion
https://www.youtube.com/watch?v=JUMtJzsw1Nk
just watched your video, it answered one key question i had on abiliity to target multiple horizons with a horizontal drill - from 37 mins in - So they can produce from frontier and dakota all levels from one well
Also steep decline curve chart v interesting at 39 mins , horizontals peak prod lasts for about 2 years before dropping off substantially to flatline almost , so they need to keep drilling - its not drill upto 150 wells and then produce for 20 years, its a constant programme - I think this dynamic alone proves a Major partner will farm in here.
Frontier fn evaluation from 40 min in - v interesting as you say, most laterals in Frontier play is 3000 - 5000 ft long so individual well cost reduced, they just need this constant drill campaign.
slide at 50m 44 - conclusion is that the highest oil production isnt necessarily in the thickest part of the reservoir but Hydrocarbon rich zones - it appears COPL have one of these zones combined with thickness - COPLS discovery is an outliner looking at the presenters historic maps of high production areas, many further studies will follow by Majors as this find may have upset the established understanding of the Frontier (Wall Creek) prospectivity by area and depth - substantial connotations overall, making it an even more attractive farm in target for analysis and extrapolation of potential elsewhere in this area with similar characteristics .
Excellent research Illusion. All good then .
Thanks Shaa,
i know your passion for our company inspires many through all the games and ups and downs ,
i also knw that many of the bretheren appreciate your hot fingers on the daily's,
i look forward to the days that must surely come when,
i can sit back and watch your posts fly us to the moon !!!!.
Great research illusion, very informative.
I too have been bringing it to investors attention as well as the New Discovery, we are actually a producer!
GLA lol.
Good afternoon everyone,
just for reference I started this post before the news on the discovery and decided to stop as it seemed a little irrelevant,
but now it seems that the market will not assign real value before and maybe even after the CPR arrives, therefore it seems that the only measure they cannot argue with is production.
I am pretty sure the Q4's will not excite the markets but the current production no's might so below is some background people may find interesting.
Firstly thank you to Noob for providing the Excel documents.
Secondly everything that follows below is only speculation and not to be interpreted as reliable information.
The first thing I looked at was a number for best production from the monthly figures,
this provided.
For Cole Creek 2482 bls/month.
For Barron Flats 64865 bls/month.
Total 67347 bls/month.
As I could not tell from these figures how many days each well was online I give 2 estimates.
30 days/month gives a figure of 2245 bls / day.
25 days/month gives a figure of 2693 bls / day.
By looking at the gas production of the wells a few things became clear , ( I drew a map of the field and overlayed the well data over it ),
CC was production was little changed so from here on I am only refering to BFU.
From the data it showed that injection pressures after august over most of the re-stimulated parts of the field were very much reduced, especially over the centre to centre west parts of the field, this is where the maximum increases in production were situated.
So when the pressures were highest we achieved increases as follows,
1 well 500%
2 wells 300%
3 wells 200%
12 wells 100%
12 wells no change ( these wells were mostly at west, south and eastern edges of the field and from the data had not been effected by the increased pressures at the time the pressures were greatly reduced.
I am hoping that now that CUDA has become less important the reasons for trying to reduce production to the minimum have now passed ,
I think that AM has plenty of scope to increase daily production easily above the 2245bopd I showed above bearing in mind that 8 of the wells had there best monthly figures before we even owned Atomic.
This video is a bit long winded but some interesting facts emerge.
https://www.youtube.com/watch?v=JUMtJzsw1Nk
For one in the latest video AM stated that long laterals were not required to maximise yield from the new deeps wells,
backed up by some of her research results,
ipso facto the new wells will not be at the more expensive end of the scale so he can sink them more quickly than might be imagined .
I repeat that the new BLM rules are designed to allow for year round drilling in Converse County so the SAGE grouse issue may not stop new wells being sunk before august.
It can only be onwards and upwards from here the pace of the rise of the company and our fortunes is at the gift of the markets unfortunate