RE: 140 Mcf a day17 Jan 2018 06:12
You are indeed correct in those calculations , that is the reason the share price came off last time around and the delay , but you have to remember that they have only tested the lower most part of the well X3-4 zone and only 15% of full zones , the main pay zones will flow significantly higher and expect about 8- 10 times uplift bringing it in line with current well flow rates like Mako 1
The significance is that in this part no one has flowed commercialised gas from this natural strata in this region, and GJ said that this was too great to walk away from hence they will spend some time frac stimulating this deep area for further flow rate increases.
This is a significant step forward that the gas is of pipeline grade , clean and only a short distance from the metering station , and when fully proved up here could exceed 1tcf , as always patience , time and knowledge will play out ! Buy and hold !!