OTCPK:MAUXF - Post by User
Post by
dr_airtimeon Mar 12, 2013 3:21pm
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Post# 21117923
Capacity increase after Horizontals
Capacity increase after Horizontals
FYI – OJ posted the new CorMART report on IV. Cormart’s quote was “we expect successful horizontals [on Umu-3 & 4] to add potentially 5000 from sands already identified in previous drilling”.
I know we all get a bit excited and always love to double count with Mart i.e. “Mart’s production volume is 25,000 bopd!” while actually it is 50% of that plus cost recovery oil.
I think CorMART means they expect a NET increase of 5000 bopd NOT 10,000 bopd as OJ thought. If you assume that both Umu-3 & Umu-4 are producing at ~2500 bopd each that is 5000 bopd of current production capacity from both wells. After MART drills horizontals on these, we could assume that they can do 5000 bopd each or 10,000 bopd total. 10,000 bopd capacity after horizontals less 5000 pre-existing capacity is NET increase of 5000 bopd.
We’re gonna have a lot of oil regardless.