Clarification - ALL J5 Step Out Wells Will Produce Just wanted to quickly clarify something from the board.
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Allah_says_buy, I believe you may have misinterpreted the new presentation. On Slide No. 15, at the bottom, it says that:
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All of the other five wells have been credited with
proved reserves based on initial test results, and are
being brought into production
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On J5, there was the original discovery well, and then another 5 step out wells drilled (for a total of 6). At one point, there was some potential indication of a 7th, but it ended up just being six. So the presentation is stating that all of the other step out wells will be brought into production. I didn't want anyone thinking there was a problem with one of the wells and that one of them was now "no good".
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Just FYI.
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I do agree though, it would be nice to see / hear some indication of when we will see the other 5 come online. The sooner the better, obviously, especially with oil prices so high. I hope there is enough money left to tie them all in before the company has to do a PP to finance the winter / spring / summer drill program, as the extra cash flow and production might boost the share price and reduce the amount of new shares that have to be issued.
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It's been a rough ride, but still hanging in there. Good luck to all the POP longs.
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Respectfully,
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BUMBLEBEE
Allah_says_buy said:
The only thing that I learned from this updated presentation is that only 5 of the 6 step out wells drilled on J5 will be going into production.