and another disappointing resultwell so much for royston, my guess is they will not be drilling there for another year or two. the spend required to bring on that well and for maybe 500 bopd? makes little econpmic sense. yes I know the test results showed higher produced oil, but tests do not equate to production. no longer is this a virgin reservoir pressure, as they take out oil and water, down goes the pressure and down goes oil production. you should know that if you know anything about how oil wells act.
Baay is fooling you, the analogous pools he uses is not honest. those other pools had lots of gas to drive up oil productioon by maintaining pressure. this pool has no gas. the only drive in this pool is water and you don't want that much water to dispose of.
yes commercial in a perfect world. but to be commercial requires a water injection/. disposal well, another $5 million... plus pipeing and oil handling and seperation, another $2 mill.., so do you spend another $7 mill for maybe a few hundred barrels that decline at 50% at least.. 50% each year would mean zero profit after year 3..
nope another dud.. txp is now in trouble, financial distress soon. no cash flow and really no royston, no chinook.. no oil, little gas, sell and find a better play