MMT confirmed a lot of things that I wish had been in the NR.
First off, U6 has indeed been dual completed. But due to exportcapacity issues, they haven't brought the second string online. MMT isin the process of securing more pipeline share capacity of around10,000-12,000 bpd from ENI. Apparently need to install an additionalpump at the pipeline junction.
Once that is done (no estimate given, but I presume in the nearterm as this can't be that difficult), they plan to produce U6 from twozones btw 6-7K bopd. With existing production of around 4000 bpd fromthe original two wells, that will get them to the 10-12K bpd exportcapacity they are working on.
U7 is expected to spud next week and MMT will issue another NR clarifying things.
U7 is likely to be similar to U6 and could push production to~18-20,000 bopd by mid '11. With the third well and workovers on thetwo existing wells, could realistically push 25-30,000 bopd by year end.The market isn't pricing anything of the sort into the current shareprice - at best, half that is priced in.
I think the market will be pleasantly surprised.