RE: Mike313 Oct 2019 21:44
And it took from April 17th RNS to September for them to tell us there was damage done to the well during the drill testing Many went on the comments below and topped up . They withheld facts for some time in my opinion the chart tells the story obvious now some were in the know of this hence the steady drop .RNS updates were poor I can't believe it took 5 months to find out they had problems with the drill ..before they stated it in the recent update.
Chief Executive Officer Paul Haywood said: 'We are very happy to confirm the exceptional test results announced at the beginning of the month. 16aZ continues to flow strongly, going from strength to strength with a steady increase in pressure as the well cleans up. With an average production rate of 700 bbl/d, the well is expected to deliver gross monthly free cash to the Company of US$1m at the current price of US$70/bbl for Brent crude oil (with an approximate two month well cost payout).
Many were fully loaded unfortunately until the true facts started to come out end of July .. All these problems going on in the back ground BUT the videos from our CEO were spinning us a yarn how great things were going . We got had over . Nuff said