RE: HOW TO ATTEND 21 JUNE SANCTION HEARING + MAKE REPRESENTATIONS TO JUDGE21 Jun 2021 09:29
maqsood7....."New cpr" Which company would take this on now and do a CPR that argued the water being produced from 6 and 7 is from an incorrect OWC assumption and in fact it is much deeper? Only a company hellbent on destroying its reputation. The RPS CPR was based on available data at the time and it was interpreted as per industry practices. That doesn't mean it was right, or wrong. The key now is ongoing production from the Early Production System of which the sole purpose was to test the reservoir characteristics. They have and the results are a much shallower OWC and a reciprocal downgrade in reserves and forward production estimates. Changing the BoD doesn't alter these facts and HUR can't drill any new wells to access any other parts of the reservoir without the restructure or it will instead be wound down. An awful outcome, but them's the realities.