Flow testing28 Jun 2018 08:50
My take on testing timescales
Interpretation on time scales from the "Operations and Corporate Update" on 8th May:
T-45
"Extended well stimulation and testing program commenced on 8 April 2018"
81 days extended testing from 8th April (or 51 days from date of RNS) , must be due news very soon
Dino-2
"Extended well stimulation and testing program commenced on 7 May 2018"
52 days extended testing (or 51 days from date of RNS), still 18 days to hit the arbitrary 60 days.
T-39
"Taribani Drilling/Well logging update" RNS on 25th May states:
"T-39, which is progressing ahead of the drilling schedule, the drilling rig will be released and the well testing will commence"
guess extended testing started 8th June so only 21 days in to testing
UD-2
"Extended testing program commenced on 21 April 2018"
68 days extended testing, must be due news very soon
The company will by now have very good data sets from T-45, Dino and UD2 after 81 (or 51), 52 and 68 days testing.
T-39 must have a very good indication of final flow rates now too.
Tomorrow the results RNS will include and ops update but the only thing that will move the SP is final flow rates and a plan for selling the oil/gas.
FRR has come a long way so far this year with 3 oil wells and one gas well on test, a fully funded new well at Niko coming up and a plan to pay off YA without more dilution
This must be FRR's year #MASSIVE
GLA DYOR