Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Looking like dumping the rise, still long way to go yet
Agreed Gareth. As I said, with a successful refrac there will be a real incentive. Really, I see the refrac as a means to an end, that end being to put a decent valuation on the asset and get a great jv deal. Atb.
Gordon, many thanks for your reply which includes previous flow rates, I would have thought that this would need to be sorted out sooner rather than later, if we are indeed successful with the fracing (75% chance of success) they will need to export this oil immediately at such higher flow rates.
Such news of a connection prior to results would be a real lift for shareholders.
Well Gareth, the original rate was 0.5 mmscfd and for previous production was as high as 1 mmscfd, so clearly if the problems are ironed out, it can support at least that. All irrelevant really, if the refrac is successful the flow rates will be much much higher from the new wells and there will be a real incentive to sort it out. They have previously said the aim is to aggregate sufficient production to connect to a high pressure system. Atb.
Ever since the RNS came out I have wondered what the gas pressure has actually been, clearly in excess of c.0.3 mmscfd, OEX have stated they were limited to the constraints by the grid operator.
I wonder if these constraints have now been addresssed and what the new limit will be?
RNS 6th June states:
However, low pressure grid constraints have limited production rates to the current c.0.3 mmscfd level. The low pressure grid constraints are being addressed by the grid operator which will allow for higher production rates from the field.
Ticking up. Is there a gas leak ??
Might be the start of another decent momentum run here now. Hopefully this time it’s going to be all systems go. SP still bargain price but for how much longer
Choo choo.
Gla.
Another solid day on the oilex express
Wait for the volume…. High 20’s during fracc. After that who knows. No brainer from here even if you bail before outcome of fracc
The jungle drums are drumming...
;-)
Keep it quiet folks, a nice 3% rise each day up to fracing. We don't want the P&D crew here.
ppl are coming back on prospect of good news this month
Solid start to the week - nice to see.
How do you know Roland is on his way?
refrac to commence 11/07 Roland on his way to India, get your golden tickets before its too late!!!
09:07:41 0.1648 18,200,273 Unknown*
Well, this trade may have been registered as unknown, but trades bought just before and soon after are at a similar price, so it's a buy. I can see people who sold out a month or two ago, now back piling up. I can foresee 0.20 - 0.21 before next Monday 11th July and head towards 0.30 before the month-end.
level of buying today. Long may it continue. Gla.
are we going to see a little push this week with optimism
Aimopoly
Theres are reason why the frac has over 75% chance of success.
Aimopoly
this
https://drillordrop.com/2021/05/18/consent-for-wressle-proppant-squeeze/
OEX wont be using sand as proppant this time around, schlumberger has recommended ceramic proppants this time around.
Gordon
Schlumberger and Bakers both done studies on old wells in Cambay, they confident commercial quantities can flow.
The company believes only 1 out of 4 fractures produced from c77h. They will do smaller perforate per frack prior was 15m now 5m with longer fractures. Use ceramic proppants rather than sand.
We have to remember it wasnt overnight that fraccing became successful in USA it took time and research. It was oilex who brought horizontal wells to india and its only their second well. Its interesting they will frac near the heel of the well so as the verticle well turns horizontal.
We still not crossed the placing price of 0.2p.
Hopefully, after the refrac results are known, it could be that valuation or higher
Maestro. That valuation was before the difficulties with fraccing were known about. Hopefully, after the refrac results are known, it could be that are higher, but until those results come though, we just dont know. Atb.
Hope not. That would be a disaster for the wider economy and those in poverty.