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Testing

[GreatSwami]

Thanks for all the input folks!

Nothing like getting a reasonable discussion and diversity of points of view.

And of course the minutiae of what goes on during testing is irrelevant (for the most part) - but knowing some details never hurts.

Of course the only things of importance really are: "What have they got?" and "How much can it flow?"

We cannot do a darn thing about how long it took to drill this well - stuff like that happens. Even here in extensively drilled and explored Western Canada where you'd think everything is absolutely cutting edge (and believe me it is) - just a few short years ago a couple of small Calgary based companies managed to rack up a drilling cost of almost 36 million dollars drilling a 1,600m well in the northern BC foothills country - followed by almost another 5 million dollars on completion efforts only to get a sparrow f#rt worth of natural gas... Trust me - the shareholders of the companies involved were not impressed - and lawsuits between Operators and Services swirled for years afterwards...

Just for the record - a drilling rig in the Kurdistan foothills is not quite the same thing as a drilling platform offshore - the one is just a drilling Rig the other is often a drilling rig, completion rig and production testing facility behemoth. Comparing the two is like comparing a small town corner store with mega city shopping mall.

But the fellows commenting on the problems of what to do with the oil on an extended production test are quite correct - what to do with the produced oil? Sure you can choke the flow rates right back to control volumes and you would easily flare for a while. But you are not going to flare off huge flow rates for weeks on end. That just is not going to happen. There is no pipeline here and you would need a 24/7 fleet of tanker trucks running flat out to haul away loads of oil...

So whatever has taken all this time here with testing it is probably not all flaring or flowing oil...

The testing notes were just for general academic interest. We all just remain patient waiting to find out what they do - or do not - actually have. Some obviously have given up hope - they may yet be proved correct? Some (like me) are hanging in as we have read the Tea Leaves in a particular way and have come to a more positive conclusion. We may yet be proven right too! That after all is what makes a Market.

Best of luck - lets just hope we hear something before we all expire of old age...

GS