OTCPK:MAUXF - Post by User
Post by
BCPInveston Jan 31, 2012 9:48pm
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Post# 19472145
Thinking Out Loud...
Thinking Out Loud... I am as chocked as everyone else. Today's press release was abysmal. I can only hope that there will be some pressure applied to rectify this shortly as further news about UMU-9 is made available. Expectations were very high and were dashed due to lack of essential details. Now, I am thinking more about the overall production numbers as posted. Two months in a row we see about 12 days for facility upgrades...perhaps this is all about acheiving greater export capacity. Pumps need to be upgraded and the pipeline made ready for greater pressures/flow and that does not come by snappiong your fingers. Question: how many more days of disruption? Looks like we have capacity of 15,000 per day field now and about half to MMT. I am not totally concerned about oil losses. We knew it was an issue and a costly one. This is now a quantifiable problem and as such steps can be taken to reduce those losses. UMU-10 is going to spud soon and what they do with that will be very interesting. 9 is the first of three wells on the new pad designed for three wells. All this in a new area 2.5 km distant from the first pad. Are they connected geologically. Looks like it.....
Cementing in the lower section of UMU-9 has had me thinking. Is Wade taking a strategic stance here? He is exporting everything he can produce and likely has oil stuck behind pipe. We can now confidently surmise that below 8,300 feet there are many additional sands with gas at the deepest levels. Gas normally is on top of oil. Had we drilled below 11,700 would we have found additional oil? Consider the overall impact on this company of multiple sands to 13,700 over the entirety of Umudasage. Staggering. Only one way to find out. UMU-10??? Still...no export capability right now.
MMT is running the risk of being in play. One million per day revenue is in sight. This is just too big for our company. Wade may realize this and is going to chill while he and the reservoir engineers think this through. Trigger happy sellers may soon regret the rash decision to jump the ship. Comments please.