RE: Oil harvest11 Dec 2024 10:30
Tebbin,
fyi fwiw from 25 March 2024
"We are gradually learning what is required to maintain steady oil production from our Chalk Talk wells in Texas. We initially saw excellent production from our Chalk Talk 1H well getting to an amazing 700 barrels of fluid per day with oil production peaking at 410 bopd in late November, then down hole issues in December saw a decline in the well's performance. It took some time to realise that the decline in oil production experienced in December was primarily due to a quarter inch hole that developed in the production tubing at around 7,500 feet depth. This combined with reduced fluid flow to the well bore, due to the well potentially collapsing below the pump level has seen the CT1H well run well below expectations. We are working with our consultants at Halliburton and Summit to bring the well back to its full production potential and this work is ongoing. The good thing is we continue to see oil coming to surface as we address the issues at CT1H and we continue to receive oil sales with last month's net sales equating to US$48,470.26, for PPP, which shows the robust economics of our acreage. We are optimistic that a further work-over, to clear the potential blockages below the pump, will see this well produce much better than the current circa 50 bopd. We have over 2,000 acres of prime oil ground in Gonzales County in Texas and this acreage has the potential to build a robust oil production company."