RE: Ice wine flow rates13 May 2018 20:31
Maverick, not quite that was pre the design change from Icewine#2H to Icewine#2V.
31/01/17 Question to Dave Wall from :
"Will industry accept the Ice2 HRZ flow rates (assuming it flows) as gospel across the whole of our acreage or will industry request further wells to prove the HRZ flows everywhere?
31/01/17 Answer from Dave Wall:
"It is difficult to talk on behalf of a whole industry, which has a very diverse cross section�. however, we believe that we have compelling evidence of where the sweetspot lies in the play � and the geology at that depth is pretty well understood as being consistent across our acreage.
So� if the well has enough encouragement (and we are aiming for way more than just encouragement) then industry will definitely take notice."
09/02/17 email response from Dave Wall:
"Our target rate of 100-150 bopd is based on empirical evidence in other plays where you can expect 15-25x of this rate when horizontal drilling completion has been optimised. Still leaves a degree of uncertainty as the range is then 1,500 (100*15) � 3,750 (150*25).
So if we got 80bopd � we would need to figure out whether we thought we could go to 80 * 25 = 2,000bopd � which would still be very good. This would involve further appraisal drilling and its questionable whether the investment community would fund this in a way that was palatable from a dilution perspective. I expect that industry would view this as encouraging enough to warrant a pretty decent farmout � so we would lay off some of the risk most likely.
Other options do include waiting until oil price increases, striking a deal with the State on reduction in tax / royalty to improve economics, looking at more innovative ways to reduce cost etc.
The project would be far from dead but my experience tells me that the investment community would be less interested until more clarity was known on some of the above so that value would be easier to determine."
That's the message from Dave, he does not flounce around promising the world, but unfortunately some posters do.
I am hopeful and comfort myself with that fact that we have three separate ventures each with varying degrees of risk and my opinion a very good board and management team.
http://88ewiki.wikidot.com/icewine-hrz
Sign In
Follow the stocks
