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IF - there were say 100mmbls of OIP net to ECHO for example.

100mmbls OIP * 20% RF = 20mmbls Recoverable oil * $40? pboo = $800M * GBP0.71 = GBP568M / 480M shares = GBP1.18 per share.

RF/GBP/OIP/ NET PROFIT OIL SHARE etc. are all variable obviously in this calculation, especially the RF which will take time to hopefully rise on appraisal wells/flow etc. And of course how much they actually get paid per barrel of profit oil net.

Just my guestimates instead of the usual finger in the air figure for a bit of Saturday fun.

GBP1.18 per 100mmbls OIP?

...do the fractures created go into the rock from the perforating explosion? 1m -100m either side of wall?

Thanks for clearing my question up Cervelo.

Was a good thought though ;-)

I know it's a different well Cervelo,

The question is will they be stimulating it before, after or at the same as the two 15m zones.

If at the same time/before we could have news on that zone first.

They'll be flow testing the two 15m zones by now if no problems imo. question is will the initial tests be hours or days long before they RNS flow rates/ commercial or not. Will they be stimulating the 8m zone at the same time? If so the 8m zone could be the first to be RNS'd on as quicker to complete being one zone.

I doubt they'll have a sizable holding tank installed yet and will burn off the intial flow test production in the oil pit.

Hopefully a Twitter photo or two of flaring/ burning the oil/ gas.

Uh? $60 pboo?

where do you get that figure from?

what about governments profit oil and royalties etc..

btw.
you do understand WTI is $54 pboo and Brent is $63 pboo?

Would luv $60 pboo, but Echo will get a lot less, especially for test oil. imo.

490,

Yep posted my tranche price history the other day so all in the public wash basket pal. I thought I was being soft on him re Tesco's, I wonder if I should have also recommended Asda after all their vegetable oil has just gone up 5%. :-)

Anyway news next week on one of the zones. imo.

News next Monday or so on first frac result?

Exactly Degsy.

Lee, are you for real?

Wind up merchant or what..............try Tesco's pal.

me too Degsy, they're not going to keep quite for two plus more weeks if its flowing commercially.

WT,

I have read it and if he;s he's saying 4 weeks then its not rocket science to work out 2 weeks per frac.

You not commenting - now that's funny.

abzzba,

so as I said two weeks per 15m zone.

WT,

Is he saying 4 week for all three fracs to be completed or per frac.

If he's talking about two fracs that one every 2 weeks or less is three fracs.

abzzba,

Are you saying 2 weeks per well re frac and remedial work or one month per frac and remedial work, which would take three months to complete the three frac in your opinion.

2 week per zone is what is normal according to the VP of LOFS .

LM,

yeah you could be right, if fracing each zone takes around two weeks then hopefully news after the first of the three fracs by next weekend?

"Fracking takes about two to three days in what is roughly a 10- to 14-day process of drilling and completing a well.

"Fracking is one of the important parts of this," said Leen Weijers, vice president of technology and sales for Liberty Oil Field Services, a private contractor that fracs wells for oil and gas"

Not sure why folks are saying 6 weeks.

I would imagine (IF) once the oil starts flowing to durface after a couple of days and some flow rate tests we could hsve news much sooner than month end. Imo.

Four wells at $150m+ ....8,000m TD?

$600m costs oh eckers!

Hope the 3D shows shallower structures

;- )

So re one of the 15m e.g.

Horizontally drill it (how long? 100m?), frack the rock, stimulate the rock with acid etc. then pump out the fracking fluid.

But a machanical rig isn't needed? So how will they frack the rocks?

Are only going to stimulate natural fractures?

Q.
How many barrels of stimulation fluid will be pumped in.......typically?

Thoughts appreciated.

Bought traunches at 18p/17p/16p/14p/8p and at 18p FM said she was hoping the share price would double this year, so fingers crossed she's right and we make a few bob, well a lot of bob actually and my 18p buy proves to be a multi bagger :-)