RE:RMP's Unrestricted Results (IP-24s) in Elmworth/Gold Creek
They maybe didn't go into enough detail. 3-22 was restricted and with that well they talked about not only average production but also the maximum production rate, the production rate at the end of the test and well pressure. "During this period, the 3-22 well achieved a maximum flow rate of 600 bbls/d of light oil and 7.5 MMcf/d of gas. During the production flow test of 35 hours, through smaller-diameter production tubing, the 3-22 well flowed an average of 200 bbls/d of light oil and 4.4 MMcf/d of gas, for an oil equivalent rate of 930 boe/d. At the end of the production test, the 3-22 well flowed and tested at approximately 300 bbls/d of 40 degree API crude oil and 5.0 MMcf/d of associated sweet solution gas for a total of 1,130 boe/d with a final bottom hole flowing pressure of approximately 17,000 kPa." The type curve says Gold Creek wells get stronger for a period of time. I hope they follow that type curve but I am diversified either way. Also, Waskahigan has good enough results to the West to carry the company for a couple years at least. This company now only has a $110 million enterprise value and 156 net montney sections in liquids rich areas. Most other comparable montney juniors are trading for 3-5 times as much per section with liquids rates this high. LXE, DEE, BBI, KEL, NVA to name a few.