GREY:TRIAF - Post by User
Comment by
grinchon Sep 24, 2010 5:31pm
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Post# 17490868
RE: 700 bopd IP / 180 bopd average?
RE: 700 bopd IP / 180 bopd average?Skeksis,
I would agree that there is not enough data as we do not even know if the well produced for the full 30 days etc....
I think if you look at the Garrington type wells, they consensus appears to be 175 IP and declining 55 - 60% in the first year with a 125,000 to 150,000 TP in reserves generating a 35% ROI on $75 WTI.
The neat thing about this play is as it is further west, the thought is wilh all the faulting closer to the mountains you will have more natural fracturing in the rock, thus giving you higher IP and more importantly bigger reserves.
They have found oil, that is a good start compared to some of my other investments LOL, they have a large land base on trend, and most importantly they have cash.
More data and successful drilling will tell us more, it is early but positive so far.