RE: Upcoming news25 Jan 2022 07:08
I forgot any potential TR1s! So much potential news, any of which can light a fire under this pitiful share price.
Just having a think about our latest well in the Dakota formation. We’ve got 20 feet of net reservoir sand, Light oil (39° API), placed on production UNSTIMULATED at an INITIAL rate of 100-120 bbl./d. Thinking about how this would translate to a stimulated 1km+ Horizontal is very exciting. We are going to be initially focusing on the Fromtier formation that has 140ft of net oil sands which stands to reason has much higher potential than the Dakota fm. We are confident we have identified the reservoir characteristics to maximise output on the next horizontal drill so any extrapolation from vertical in Dakota to horizontal in Frontier must be at many many multiples. Also this isn’t just about the oil under the ground, we have the pipeline and production facilities (£50m+ worth) in place so we just have to drop the wells in, the economics will improve exponentially as each well goes in. Monster in the making.