Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

MENA Hydrocarbons, Inc. SKNAF

"MENA Hydrocarbons Inc was incorporated on May 11, 2010. The Company is engaged in oil and gas exploration, development and acquisition of properties in the Mediterranean and Middle Eastern regions. The Company's current assets include Egypt: Lagia and Syria: Block IX."


GREY:SKNAF - Post by User

Bullboard Posts
Post by stoneybuon Mar 05, 2013 8:49am
190 Views
Post# 21078821

Operational

Operational

Am I reading this right?

Well # 9 stabilized at 40-60 - previous rate was 90 for 12 days - increase expected after steam injection later this month. So probably claw it's way back to previous levels?

Wells #6 and 7 with no thermal casing - producing 22 bopd -  steam injection later this month - probable increase to maybe 30-40 conservatively?

Drilling a 5,000 ft exploration well in the first half of 2013 - tracking 38 degree API oil found in South Lagia #1 - location selected based on existing seismic data and materials for well already purchased. Ergo potential upside unknown but conservatively should be positive on any showing.

So we have say 50 + 20 + 20 = 90 bopd with an upside with steam injection to possibly 80 + 30 + 30 = 140 with another 5,000 ft exploration well pending.

My take would be a near term pop (a few weeks) on positive steam injtecion results, drifting down again pending exploration well results, then the big reveal possibly late summer to early fall.

 

Bullboard Posts