RE: WEE Results Collapsing?-- RIDICULOUS Sir_Holler ,
Your conclusion, which was based on your very short sighted and narrow analysis, is ridiculous, to say the least.
First of all, the main point to consider would be that because of Powerwave the wells produced 14500 barrells of oil that otherwise wouldn't have been produced, at a cost of $9000/month plus cost of installation. (a very impressive profit margin to say the least).
Second, from May/08 release the increase reported was 57 bopd. There is obvious and expected fluctuations.
Powerwave™ Boosts Production Levels In Alberta Project
EDMONTON, Alta May 20, 2008/ Wavefront Energy and Environmental Services Inc. (“Wavefront”), a world leader in fluid injection technology for improved/enhanced oil recovery and groundwater restoration is very pleased to communicate Powerwave results from installations on-going since October 2007 with an international oil producer in Alberta. Oil production from the three patterns increased by 57 bopd (11 m3/d) from 132 bopd (21 m3/d) to 189 bopd (31 m3/d). The increased oil recovery is apportioned to fifteen producing wells in three production patterns where the technology is actively deployed and further upside potential may be realized by increasing gross fluid production.
Third and most importantly at a decline of 2.3% after one year without Powerwave production would have decreased by over 20% and quickly approaching an uneconomic point of operation without Powerwave.
As for Rogers County and Rodney South, their primary purposes were for demonstration and production numbers that could be shown to potential customers, Wavefront did not, at the time, have on going field production numbers they could show potential cusomers.
Also these were both fields that had zero ongoing production at the time of the Powerwave installation, any, I repeat ANY oil produced above the cost of operating Powerwave is oil that would not have been produced.
Barruch