please see link below.
A caller asked about the pay reduction in the Santonian. Victor Vega provided the response. His response, in my honest opinion, is the biggest load of nonsense I have seen. Half of his sentences make absolutely no sense. Like technically, nothing is correct and it's just a scrambled response.
Listen folks, Wei-1 still had recovery of very high quality well logs in the Santonian. I'm almost any dataset collected today, these well logs (Gamma-Ray, Resistivity, density-neutron, sonic, etc) are able to determine very accurately information such as sand/non-sandstone, porosity, hydrocarbons, water saturation, etc.... in short, when they released 210 ft of hydrocarbon sands, they implied that the geologist/petrophysist did their work and determined that 210 ft of culmative sandstones were present with hydrocarbons.
For Victor Vega to now imply (I think based on his sloppy response) that a porosity cut-off was used, that is pure garbage. The well logs have phenomenal accuracy of porosity detection... no bloody way the lab results would have implied a massive correction to the well logs porosity were required. After all, they seemed to get the Maastrichtian and Campian porosity correct and didn't need big revisions there.
lastly, as pointed out yesterday, go look at the MD&A poster on sedarplus.ca for CGX energy. It still mentions that fluid and rock analysis is still being conducted and is to be completed in the fourth quarter.
Bottom line, Wei-1 still has 210 ft of culmative gross pay. The fact the JV team now seems to suggest that only 20% of that gross pay is actually prospective, without actually saying explicitly what criteria are being used today vs back in June, is incredibly suspect.
https://seekingalpha.com/article/4650483-frontera-energy-corporation-feccf-q3-2023-earnings-call-transcript