RE: Did that Really Just Happen?
A Gusher ?
with the well currently producing 1,545 bopd of 40 degrees API light oil after 13 hours of initial production test. This represents 1,080 bopd gross working interest share for the Company, which is just under half of the Company's current production.
followed by the fine print......
the well produced 370 barrels of 40.8 degrees API oil over the latest 4.0 hour period at an average rate of 1,545 bopd and a downhole flowing pressure of 1,850 psi, a 21% drawdown, with an average BS&W of 21.7%. The well testing program is ongoing and final results will be provided.
The only fact is that 370 barrels have come up in a 4 hr period - out of a 13 hr test. I would be happy to hear that 1545 bopd has been flowing non stop for a number of days with no sign of stopping - but it doesn't clearly say that.
The release is not good enough - yet.....
long on petromagalena.....but still skeptical... they have to earn my credibility back.....