RE: What happened on Friday?Took a drive by and looks like they are testing for sure. A plebe on the site says they cannot produce a steady pace. They have to start and stop for some reason. Rumour is they do not have a certain permit for production. The production permit story makes no sence to me.
I see local welding shops are doing custom work for the prodcution process and the down hole heating.
All the insulated tanks are up and covered and I assume taking on some oil.
A very expensive process so they will need at least 250boe per day to the surface to make this a go and get a bottom on this sick stock. They have two wells to test so a continuous flow test from both is what is required. 250boe should hold the stock here anything better and it could have upside, shareholders and the last financing then crash, plus company lads taking more options at the bottom have many crankie.
Only a production flow test will get this settled.
Talked to a larger shareholder and he says the big block lads are pi$$ed over this dead air and delays and continuous inability to hold the stock.
Cold for the past month plus and very little snow on site, not sure if heating and cold weather are working against each other.