RE:RE:Frontera 3Q conference call regarding pay reduction You are correct SheDrills.
Jan 30, 2022: 177 ft total pay on Kawa-1.
May 9, 2022: Revised to 228 ft of total pay in Kawa-1.
June 13, 2023: 71 ft of total pay in Maastrichtian and Conacian on Wei-1.
June 28, 2023: Revised to 77ft in Maastrichtian and Conacian on Wei-1.
So yeah, Santonian on Wei-1 was the last interval drilled after all of this work. The team encountered 210ft of hydrocarbons in sandstones. How in the living hell can they now come back and say that only 20% of that entire pay is only "net"? Especially in light of how they conducted net pay calculations on uphole Wei sections and all of Kawa. To say this is incredibly suspicious and fraudulent, that would be a tremendous understatement.
To think, it took them 4 bloody months to release this news also. Oil vs condensation vs natural gas have nothing to do with net pay calculations... hell, it's clear they have no problem combining condensate and oil net pay together for the purposes of news releases in the Maastrichtian. They have known about this news for months. That in itself shows how deceptive and dishonest they are.
Like I said, I have contacted the Ontario securities commission and IIROC with a whistleblower complaint. These folks in CGX and Frontera are purposefully lying and making misleading statements.