RE:Charlie Lake acreageThis stuff (P35 Kelt presentation) is basically happening directly below & BNE's acreage:
CHARLIE LAKE ACTIVITY Recently acquired lands in a new Charlie Lake play for Kelt. De-risked the play with nine vertical well re-completions in 2022, followed up with three additional re-completions in 2023. Vertical re-completions proved viability of the play in the Charlie Lake formation. Drilled the Company’s first horizontal well into the play located at 2-1 (sfc 13-33), in 2022. After producing for four months at restricted rates, the well has averaged approximately 876 BOE/d (46% Oil and NGLs) over 60 continuous producing days. Re-activated and expanded an oil battery and gas compression facility located at 8-33.
Looks like massive opportunity and derisked in several ways (by Kelt, TOU and the 5 horizontal wells drilled on BNE land.
R