RE: losing faith3 Aug 2018 11:21
Commercialising one before finishing the rest, isn't necessarily the best option, bar ED and that's progressing nicely.
Helios - Needs revenue from our other plays to develop it much further, but it has been developing by itself over the last n months as that's what the water hydrating the clay has been doing.
Kansas - Done and proven - Got land, got a well that is exceptional and got what they want. We don't know if going for more land - trying to asses the next wells or what. Remember it is INSANE pressure there. You can't rush drilling more / planning there.
DTU - Kind of tied in with Kansas for now.
CO2 - We acquired some leases and having some hopefully cosey chats - but probably not much more going on there (although always the possibility of a huge curve-ball) if the cash-rich other decides to build that pipe...
WD - We are expanding acreage, we are negotiating additional land where we can in a civilised manner.Then we will permit it, then we will get it drilled. It might seem like its taking time to get to the position they want it to be, or think they can expand it to, then we will know more. -
The fact we don't yet know much more about it yet is a good thing, it means more than likely they are still trying to increase the acreage... The more there is the more the economies of scale, and the more we can cream off the top.
ED - It's being done by True.
So as for not completing anything, nothing is really due to be completed as a singular thing (bar ED) and that is progressing, multi-tasking is exactly what they should be doing as some of these items (i.e Helios) are a case of doing something, then returning later as it needs time to develop. As do commercial relationships, as better options become available.
Helios will be ongoing for a couple of years probably but with each success, the valuation of that project should rise as the likelihood of being commercial increases with each WooHoo moment. It's possible some Eagle wells can be commercial sooner rather than later as the acreage now covers a vast area, I assume some of these areas are nearer pipelines than others, but it probably doesn't make sense to try and commercialise a random well or two, when you are looking at a 220,000 acre picture.
Patience... Tick Tock etc. Anyone of the above could produce a monster RNS at any time. In the meantime, we are progressing each and every one as we need to / see fit.
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