Whats next.... LC Recap LC 1 previous test ... 1700 boes light oil and 6 mmcf gas per day... we are entitled to 40 percent.
Test only on one of two zones..Une... We now should be testing the Mirador formation....
Which was not tested initially...
LC 2 drilling to two zones there as well. Une and Gacheta.... Could be getting close there as well..
It would be interesting to confirm if testing complete on LC 1 and the Mirador..
LM 11, only looking for one zone, the mirador... perhaps we might find 800 to 1000 boes per day if we are successful... our interest is 50 percent...
These are the shorter term catalysts, though the large move up in the price of oil owing to some tensions in the middle east could be of help as well.
Parex is the operator on both these wells, hence our interest in the share price of Parex..
I would expect we will get news very soon, perhaps early next week...
60 cents by August, Im not holding my breath, but anything can happen.
As far as any takeout potential, more interest the better. But it is hard to say that the metrics that applied to C & C might be valid in Columbia now. 2P reserves should show a decent increase from the last reporting period, so thats positive... Lets see what the market does on the next open. Will be interesting to see if we get more green....