GREY:TBTEF - Post by User
Comment by
PetroExploreron Oct 31, 2016 9:26pm
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Post# 25408309
RE:hey dummies...LOL a tip for you...LOL
RE:hey dummies...LOL a tip for you...LOLOilconsultant, please help me understand more, about NWX. I searched for a news release on the 8,000 bopd oil wells, but couldn't find any. If you can direct me to the actual news item, I can review it in more detail, and have some confidence that you aren't just making numbers up, like the boy who cried wolf.
Also, there may be some confusion as to what is gas and what is oil, in their production reports. Natural gas is still good, but doesn't get the same price as oil. BOEPD are not quite the same as BOPD. Just ask many companies in Calgary, that try and quote BOEPD, but they actually make 80% natural gas.
I always thought the Cooper Basin as being more gas bearing, with the odd fluke when they hit oil. It sounds like NWX might have something, but I see that Beach Energy has alot of fluid handling capacity, as in handling alot of water. That is important to note also, as us TBE shareholders have learned.
An over-riding royalty is good, but it has to be economic for the person drilling wells, to actually spend the capital. Otherwise nothing gets drilled.