GREY:SGLRF - Post by User
Post by
power_auditoron Oct 31, 2014 11:43am
342 Views
Post# 23081813
Mgmt update...Cender?
Mgmt update...Cender?Cender.....since you believe in mgmt....What is the latest production figures for Dixonville? The SGL website seems to be lacking in details since the Q2 number of 1260 boe/d......42% of capacity. The missing 58% of capacity would be nice to see since it would prove that the team is up to speed....and not have the oil field problem that LTS team just announced from its Swan Hill field, --LTS Q3/14 report..."Production from the 7 new wells brought on stream during the second quarter did not meet the production performance expectations set by our 2012/2013 Swan Hill’s drilling program. As a result, we suspended drilling in this play pending an internal review to understand performance differences. This review indicates production results from our recent wells were impacted by completion and flow-back practices rather than geological considerations. The delayed start-up of the battery, combined with equipment constraints, resulted in completion fluid being left in the wells for an extended period of time, creating formation damage and compromising production performance. These practices will be eliminated from our future development program in the area. With the confirmation of our geological and reservoir modelling, the Swan Hills continues to remain a long term growth area. Due to recent impairments to third party gas infrastructure, drilling in the area is not expected to resume before the second half of 2015."---from the LTS Q3/14 report Oct.30/14.
====
Thanks. ****This is why SGL has such a large IR dept,(in my opinion)...right? Remember to acknowlege Scotia for their $1.00 call.....when mgmt and I, ignored their foresight and knowledge of the team here. What did Scotia know about the team here that retail investors did not know?