Mark Abbott's reply to me re Wressle water9 Aug 2023 10:54
Aug 8, 2023, 10:00β―AM
Mark,
Could you clarify when the water began at Wressle ? This is a valid point raised on ADVFN...
The wording of the RNS's (UJO and EDR) are (deliberately?) vague, IMO
3.72% water cut means nothing unless you know when the water started. If it started on day 1 after the last (no water) RNS, and stayed at steady state, then an average water cut quote is fair.
However, what if it started 3/4 the way through the period, then obviously the cut % as of end period is significantly higher.
We all knew the well would see water, and oil production would decline in time, but why not be up front and give us all the info.. The shareprice has been hammered in any case!
Most grateful for any input.
Regards
Heidi