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Hi RB. Its a political hot potato in Georgia with their rather big next door neighbour. They want no reliance on the bear for supply so they've made commitments that as much domestic gas supply is to be sourced internally as possible which is why we have an attractive strike price. Their domestic market was deregulated back end of last year.
So the 2019 payments per annum breaks down to 148 bopd.
So have they increased the taps since 2019? Or are Block quoting equivalent bopd and their figure includes gas? If so that means the gas is hooked up already? I hope its the former, but as this was a gas drill what's happening to it if its not hooked up. Clear as mud.
Been reading on the new acreage again, exciting times for sure. I'd be interested to know the water cut of the 245bopd and if this is been drawn from the lower eocene rather than the mid like 16. Also gas, it was a gas explanation after all.
Each to their own. At current levels I’ve been able to treble my holding at an attractive fraction of my initial investments. If it pops to 7p I can leave quietly by the back door. If it pops to 17.3p then I can leave my badge on the table when I leave by the front door. Anything above 20p then I’ll pop.
Got to be in it to win it.
Interesting that he said Schlumberger drilled the Patty in 2019, so this isn't the 245 bopd job that's been on their governmental tax payments for a few years. Also like the fact that the sub surface crew will be paid by performance. Lets hope the can crack the patty.