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Re: None

Wednesday, 02/25/2015 11:45:12 PM

Wednesday, February 25, 2015 11:45:12 PM

Post# of 2589
I would say that DWOG is very well positioned. They have very little they have to pay that is not covered by their partner. They can wait out the low Oil prices. Probably wont be but another 2-3 months they will start their trajectory. After Oil prices rise, well #2 then well#3 etc etc etc. Nobody has said that 370 barrels per day was where the well would max out at. As a matter of fact the 370 is expected in March. Max production is not expected until Sept according to the PRs. I think they can make some money. Not as soon as I planned, but what the hey?

"We are now focused on achieving commercial rates, and targeting to reach production of between 345 and 370 barrels of oil per day, with associated steam oil ratios of between 4.7 and 3.8 CWE (Cold Water Equivalent) barrels of steam per barrel of oil. We expect to achieve these results in the spring of 2015 when reservoir modelling indicates that the steam chamber will have reached the top of the Bluesky sandstone reservoir formation. Maximum production is anticipated to occur in September of 2015"