RE: Is ACN still connected to THY?
ACN has drilled 6 wells so far at Sylvan. The 5-4 well which was drilled in Q2 has THY as its partner. THY has a 65% A.P.O. interest, 50% B.P.O. THY stated this in its Q2 release.
Of the 6 wells that ACN has drilled, ACN has on average a 35% A.P.O. interest. Since ACN has a partnership agreement with THY, and was spun out of THY with the intention of ACN being the explorer and THY its major partner, its my opinion that THY would be ACN's partner in all the wells drilled at Sylvan.
It is known that ACN is partnered on its wells at Sylvan. I expect that THY will state that it is the other partner when it releases its Q3 results.
The six wells have test-flowed about 8,000 BOE/d so it is a significant finding. The results have not yet shown up in THY's unit price. This seems odd to me. Can anyone explain?