Member Info for Olderwiser

Gam2

Get serious, they flowed oil for 16 hours, and got 4 barrels out

No amount of spin will change that

Wetbandits

88e have been clear, horizontal multi fracks in there opinion will multiply, vertical flow rates by 6 to 12 times

Take the top 12 x 6 is only 72 bopd for the SMDB

6 is calculated by adding 50% to the 16 hr flow of 4 barrels to get a 24hr, daily amount

Sharebel

The pumpers are the parasites here, always have been, they continue to push the false narratives, own up the SMDB produced 4 barrels of oil in its entire oil flow test

Now witness the whole pump crew going into overdrive, as they scramble to get out with less of a loss

Make no mistake, the average punter is the target of all the BS about MM makers, shorters and cant get a bid

4 barrels from the entire SMDB test is a dud, they didnt even try to make a standard excuse, like bad frack, blockages, my design was wrong

It just the reservoir, doing what tight reservoir does, flowing badly

The biggest red flag is 88e spun it to the peak 50 bopd, knowing it would confuse the market

Hepran

No they have not

Wetbandit

Why did you pick the peak flow rates, not the measure of oil in the tank

Measured in the tank for the USFS is 24,8 barrels

Measured in the tank for the SMDB is 4 barrels

Why fall for all that rate spin when you can just see how much is in the tank, simple really

I was lured in by the sound of screeching pumps

MMO

No amount of denial will alter the facts printed by 88e in their ASX announcements, page 3

https://clients3.weblink.com.au/pdf/88E/02736211.pdf

BFF net to 88e

Best estimate 28m barrels of oil, plus 57m barrels of NGLs

Some how Mystic spun that to 250m, I will give a clue gas isn't oil, and some one else's share of the pie isn't yours

Ayecuramba

The day that the average investor here works out, the contrarian view holders are not the foe

The RNS makes it look like 50bopd is the go

Reality says 4 bbls way too low and slow

Taxi

In effect the numbers say they are dusters, on the SMDB, they flowed return frack water for days with no oil cut, then in the last 16 hrs of the test, after oil began to cut, they flowed 4 barrels in total

Taxi

This result was below even my humble expectations, its only 4 barrels for 16hrs of oil flow. That will go nowhere commercially. The spin will no doubt have the Muggins's directed to the 50 bopd peak rate, rather than the average, over 16 hrs it takes to get 4 barrels in the tank

Emphasizing natural flow is a cast about for a positive, in this case it means so much gas that it drives the oil out with it. Such a high GOR is bad

Well head pressure is related to well depth, so as the SMDB is about 1000 ft shallower, it is naturally lower.

It is a hard concept to grasp initially, the liquid column in the well bore, when full of liquid is balanced by the reservoir pressure. The well is full but no pressure on top, half fill it with gas, (much lighter than water) and the difference between reservoir pressure and the pressure the weighted column of mixed gas and water exerts , will show as pressure at the well top

Its spin spin trying to link across to other successes

Gman93 01:24

Hickories SMDB, 4 barrels of oil in the stock tank, with 16 hrs of flow post the commencement of oil flow, is very poor IMO. Average it out, its only one quarter of a barrel an hour, and average daily rate of 6 bopd.

The way 88e has presented this the average Joe will only see the peak flow of 50 bopd headline, and not calculate back.

If they did, its 50 bopd for ~ 2 hrs, and the other 14 at zero, or the more sensible 1/4 barrel per hour average for 16hrs

It is a win for PANR, not in extension of their productive cut off line further south necessarily, although it may allow a minor tweak. The big gain is pure data, in particular the lower GOR at Hickory, is a positive to PANRs southerly SMDB section

Goldwater

A bit of math error there 110 x 10 = 1100

Beyond that, how is it possible to flow at 50 bopd, and only have 4 barrels in the tank, after 16 hours

Or 70 bopd and only 24.8 barrels in the tank

Gman

Do a little research on N2 lifting, it is a form of artificial lift

With N2 lifting, it only flowed 4 barrels in 16 hours, an average of one barrel every 4 hours, (one quarter of a barrel an hour)

OilBcNu

PANR have not said that ever, I challenge you to prove that

They have consistently and sensitively, emphasized how being up dip with a better DMAX is good

Neversatisfied, at 70% of the frack fluid recovery there will not be much more oil flow increase, after 60% it only incremental

Here we are again with an RNS that gives the impression of a win, but the fact is, they only flowed 4 barrels of oil into the stock tank over the 16 hours post oil recovery commencing

Gman

Sorry you cannot do it that way, they only produced 4 barrels of oil in the entire backflow, the 50 is an instantaneous peak rate, given in bopd, not a sustained rate over 24 hours. If that was the case there would be 50 barrels in the stk tank

Anyone that has kept their eyes open, now knows where to look for the facts, 4 barrels of oil total flow to the stock tank.

Good that the GOR is low though

Appendix A

Item J

The well produced at an average oil cut of 4% following initial oil to surface, with instantaneous rates observed during the 16 hour period varying as the well continued to clean up at managed fluid flow rate of ~170 bbls/d with a calculated total volume during the flow back period following establishment of oil cut of ~4 stk bbls.

No measurable gas or NGL’s were recovered from the SMD-B test.

Gemstar

I see you have produced your evidence for the 10% "worrying" PANR short, without realizing it is a running total, the number at the top is the percentage that is currently held short by Mangrove

It is a pity it is only 1.53%, not the 10% you got by adding all of the running totals together, as the short squeeze would then be simply astronomical, as the stock price continues to rise

Adnauseam 14:44

Thanks for the efforts, but it is of no use in this case, as the Hickory well has been fracture stimulated, perforation is just one of the steps in stimulation. The link is for a situation where only perforation has been used, such as a high porosity conventional well.