RE: RE: RE: RE: RE: RE: RE: RE: Another Well for T Being further west our costs are going to be higher then DTX's deeper wells etc. Legacy can drill like 10 spearfish wells which are almost entirely oil for the cost of 1 of the Alberta Bakken wells they have done so far. So risk versus 1000 boe/d total plus whatever the reserves are probs around 1 million barrels proven, 100,000 per well. Since LEG didn't include an update in this news release I think we are screwed for a bit news wise. Mind you BWD could release at anytime and inform us. I just can't see Legacy taking any steps one way or another till closer to June. They can license in May, spud start of June and fullfill their commitment. Or not. Its very interesting that both of the farm ins on DTX's land were dropped. One would have thought that if anything the farm in areas would be more successful then the block that has actually been good. Haha. Oh well.
Apparently according to some guy on IV the play is not a uniform sheet sand but instead localized sands whos borders can be defined on 3D. So the play will be very much sweet spot driven and not uniform across the play. Hopefully once our 3D is completed and interpreted LEG will be able to make out a sweet spot on the reserve. It would make sense if there was one from the TORC and southern GSY well then it comes down to around our Kipp well and the old well and hopefully further south. If this is the case then LEG could skip all the science and put down there three wells as an organized program and target within the borders.
Oh well we will know better if Kipp results are ever released. Murphy and DTX's success and the abandoned farm ins are helping to define the play which is something I'm greatful for.