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But wells do not normally produce at a steady rate over many years. The plans submitted to SCC show that the number of tankers is expected to diminish exponentially over the 25 year life of HH.
I wish that it were otherwise, but look forward to the day when there are 16 tankers!
I am here for the long term, but hope to be able to top-slice above 3p.
Unlike you, I consider those with a negative viewpoint to be, by and large, sensible. The SP says it all. There remains a considerable risk that this could tank. But there is a very good possibility of a success story.
I remain a lth, and like most am over-invested in this stock. I am hoping for good news next month, but there will be a lot more loan conversions to come. I hope that we put our 2 wells into production and use the proceeds to pay for the remaining wells before stretching out to other sites.
I would expect the workovers to be done using a crane rather than a full-blown rig. And it is convenient that they are running a Pressure Buildup over the festive season rather than paying premium rates for tankers.
If anybody is down at the gate, please take a mince-pie for the security staff!
"The Borg El-Arab Petroleum Company has made a new petroleum discovery in the ASH-2 area of Abu Senan concession in the Western Desert, with a production rate of 7,000 barrel of crude oil per day and 10 million cubic feet per day (mcf/d) of natural gas, according to a press release."
Let's hope that we can match their 7000 bopd from our HH wells!
Where did you get $6 per barrel from? Without going back through the RNSs my understanding was 6% (of profit, not turnover).
But they should still see the benefit, so long as it goes directly to the community, not to the County Council.
later this week, probably Friday morning, for Loan Reduction. Haven't had one since 29 Nov and Friday 13 would be a good day to s lip in any bad news.
Whether or not there is flow from HH2z this week I would expect the testing to resume on HH1 and the flare to start flaring and the tankers to start rolling.