The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
6 weeks of testing
Be good to get the flow rates but more so the details of the FDP
With 7 historic producing wells, 2 new wells,the opportunity to quickly ramp up production is significant
I know Sonagol have stated a 3 year development to drain the reservoir across the Tobias field which we believe is c65mmbbls recoverable
CRCL have a golden opportunity to go from a business that was non cash generating to significant turnover and profit making in a very short space of time
Next week is 6 weeks of testing
T04 produced at peak flow 12580bopd from just 8m
T14 an offset well of T04 has 80m of reservoir potential to test in optimal position on the crest of the structure
The results will be used for FDP and to quickly move into production via an EPS
The FDP may also include the re entry of the historic 7 producing wells to quickly ramp up production as they believe the field has recharged since shut , horizontal drilling and sidetracks have been mentioned in all RNS updates
Depends on the number of zones
we know we have multiple zones each one requires testing
It's a big oil column and potentially very high flow rates
So it's potential v good news it's taken this long to date