Very Low Cost Very Low Decline Rate, High IRR new oil wells - IP 24h = 125 boepd (75% LIGHT oil)
- IP 180 days= 75 boepd (75% LIGHT oil)
- Conventional very low cost well. The cost was much less than $1 million because it was a re-entry and completion well.
- Very Low Decline Rate (7%-10%).
- Continued support by the funds who buy again at C$0.42.
And one more well like this, is coming online soon, according to the company.
Actually, I think more light oil wells from that area will come online in 2015 now that QXP knows this property.