GREY:STPJF - Post by User
Post by
Duxingon May 07, 2014 11:15pm
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Post# 22536884
Overall financing is better than Q2
Overall financing is better than Q2By comparing the numbers of Q2 and Q3, the overall financing position for Q2 is better: More revenue, less loss.
The average bitumen number is not as good as expected partially because the intentional production restriction of 2P1, which was cut half of his production rate in second half of March. That is 400 bpd.
Given that 2P1 only performed at 700 to 800 bpd for one and half months of Q2 and stopped production for ICD installation for most of January, there shall be high potential for April exit number. 2P1 alone shall be able to add 300 to 400 bpd on Q2 average. If we consider that 1P5 stopped production in Feburary, and ramped up by over 100 bpd in March, it would add another 100 bpd to April number. All together, April number shall be around 2300 to 2400 bpd.
The report states" The Company believes it has since established prudent operating parameters and has been gradually increasing the production of the well pair back up since the last week of March." This otherwise gives a hint that the number of 2P1 for April is rising.