GREY:ARWJF - Post by User
Comment by
robcowieon Feb 14, 2014 12:33am
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Post# 22208429
RE:news
RE:news
The cost of the West Hazel project $1,400,000.ARW will pay $130,000 a month for 11 months.Doing it this way,they not forced in cutting a big cheque in the next couple of days.
They can continue paying there line of credit down and use any extra funds for future drills.
The work will take about 4 to 5 weeks to complete.In that period they will install a water disposal facility,drill a new disposal well,and recomplete two suspended wells that will add production immediately..Not sure if they are also drilling any infill wells before break up,I forgot to ask.The new kirkpatrick has been flowing between 100 and 120 since they have tied it in.They are going to keep down at this level until the West Hazel project is done because they do not want to risk rushing the well to a to maximum level and possible creating any problems.When the project is done and they have tied the old and new suspended wells in, they will slowly begin to increase the new kirkpatrick well.Possible ending up around 180 barrels.By the end of March, ARWs production should easily be sitting between 700 to 800 barrels, if not higher.