Thoughts on the NR????Well, as stated in my post last week we got our news release this week. Good to see the company kept it's word on that.
We did get some information, but the results are still somewhat cryptic/early as not all the frac fluid (half ) has been recovered so far and the 220bpd with 65% oil cut (and climbing as they go) needs to be clarified with seeing what the numbers are after we get all the frac fluid out. Then we'll see what the real water cut is and decline rate is going forward on production after a month or 2. Once we get that information we'll know the real story, at least for this particular well.
Regardless, contrary to what others on the board stated, that this well would have "bad" results simply based on the SP dropping, I think the results thus far prove the opposite and while not stellar it's a good start. Besides, you really think that Bowood/Legacy would jointly buy another 9600 acres of contiguous land next to this well if they didn't like the results????
Now to see what the Kipp well results are? Time to hurry up and wait again.
As always, just my humble opinion.
Van