RE: RE: RE: Snowcap test permits - December test..You must think the Parex guys are a bunch of Local Yocals .. No way they farmin on PTT Public and PTT Private for the potential of roughly half of a 500 bbl/d well .. These wells cost $8 million each to drill .. and very expensive to complete too, which they would not have done unless they liked both wells .. a lot. :) If you read the Parex Sedar information they risked this at one in ten .. again, no waaaay they do that for half of 500 bopd.
So what's the risk now .. in piecing together the Parex presentation and PTT information they have said that they have really good zone and pressure in both wells that looks like light oil (Premium price and flows like h e double chopsticks .. high rate), 300 - 500 feet of section in one well and over 1000 feet of oil section in the other .. So now how do you risk it pardner .. You have 3D seismic controlled and geologically controlled structure, light oil, thick section in two wells and lots of room to move. Oh ya, and this big patch of land is immediately offsetting the Aventura discovery lands that ran that company from
.50 to $7.00!
Giddy-up!
The Doctor