what a boneheaded tweet these idiots just put outThere is dumb and then there is the kind of dumb that this company is.
first they lie to us about when this well went into production, then the well totally shats the bed versus our expectations (even though not a bad well) and then this tweet this morning,
"we expect to continue operating well 4-29 with a goal of optomizing oil production levels, managing total fluid volumes handled and benefit from lower government royalty payments until such time as it returns the capital cost of drilling and completion"
Then what are they going to do, shut the well in? Nobody wants a break even well you dingbats. They should say we see this well running for years after we have recovered all our costs. reality is the the production levels are not going to have that high of future royalties anyways. Heck the well is not even close to 200 bopd now and declining.
They are also telling you that production has gotten worse and the water has gotten worse so yeah sure 5% royalty is nice but we are here to make money not just circulate it.