Friday, May 27, 2016 1:37:33 PM
With other drilling operators I have seen, I don't recall ever seeing a report part way through drilling. Everyone knows they are drilling. There is only two or three questions to be answered:
Is there oil (Plugged and abandoned or not)?
Is there commercial quantity and quality of oil (how many feet of pay and in how many zones and of what quality....)? Keep in mind, it does take appraisal wells to firm up estimated amounts but generally speaking, they can tell if there was enough feet of pay of oil hit compared to the zones they were targeting to determine if it is generally commercial or not)
When is the next step (appraisal wells in same region, this year or next, or do you move on to a different target for another wildcat well and do appraisal wells next year)?
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