Atikwa Resources Inc. V.ATK

molopo

[albertacrud]

just a thought their land base is not all that huge what if they were to drill a few more holes ito the Spearfish get thier production up to 1000bpd and sell that asset to finance drilling on thier other lands ????(Molopo did for a healthy chunk of change)

[jefft66]

I hope to see that happening, I hope to see anything happening this month.  

[DrillinisThrillin]

Well, I've made it clear that I'm in the "Sell the Company" camp but if they opt for the DRILL DRILL DRILL direction --I wouldn't  want to sell Spearfish. First let's get the facts closer to reality (if not perfect because I'm probably not 100% accurate either.)   You say "drill a few more wells and get production up to 1000 boe/d."  

[stockmanners]

I believe a bunch of the ATK Pierson wells are 50% W.I. so your 400bpd is NET interest. Pierson wells are much cheaper to drill than say a bakken well, which is why Legacy is in the area in a big way. Growing through the drill bit is not linear as you would suggest but exponential, which means it will take less time to get from 400 to 1000 than it did to get from 0 to 400. Thanks, StockManners.

[DrillinisThrillin]

Of course it is NET interest. After 8 producing wells --ATK has 400 boe/d which means that we have a pretty good sampling that these Spearfish wells produce about 100 boe/d.   So, if it's not linear but rather an expotential --please explain how wells # 9 thru ? produce more than 100 boe/d.