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The LOI kicks off with the companies having entered into a sales and operating agreement for 4 wells in Irion County, Texas. MDM Permian, Inc. will retain a carried working interest (CWI) in all the projects. The wells are located in Irion County on the 160-acre Lindley lease, producing from the Canyon Sands at an approximate depth of 7000 ft. with both Wolfcamp, Clearfork and San Angelo potential behind pipe.
Wolfcamp is where EOG hit the 15,000 BOPD. One well...
boo boo, you can’t get that with satellite.
Stay tuned.....
This is HUGE! MDMP Lindley wells and currently producing from the Canyon Sands with potential behind pipe in the Wolfcamp. I’ll take 2,500 BOPD with 4 wells, lol
6103, #1, #2, #3.......BRING IT ON!!!
$MDMP sends congrats to EOG for the 15,000 BOPD Wolfcamp well in Loving County, Tx. The Permian legacy continues!
— mdmpermian (@mdmpermian) February 10, 2020
boo boo, reread the post. It didn’t say they were forming an advisory committee. Beings you always have questions, why don’t you take advantage of the link I provided to ask questions straight to the horses mouth. I’d be very interested in reading the CEO’s answers.
Quit kicking the can here.....you have your one shot to get all your answers.
GLTY
Good! Should be a great interview. I think he’ll have many good questions. IMO, when you hear that MDMP is forming an advisory committee, the foundation will be set to up list to the OTCQB.
Remember, prior to April 2019, this was a shell. Great share structure, business plan, work has begun.
Looks like FDR will be paying MDM Energy to rework these Lindley wells.
$Mdmp is pleased to announce the company plans to host a ceo interview with Mr. Michael Rafael.
— mdmpermian (@mdmpermian) February 7, 2020
After the interview is completed it will be posted on here.
Investors are encouraged to send in their questions to info@mdmpermian.com
TO ALL:
MDMP has been very transparent through the well work process with news, updates, and even video of the progress on the Lindley 6103. They laid out the whole process and different phases of the project, and I’ve been following along every step of the way. I have over 3 decades of oil & gas production experience, so I understand what is happening here, and it’s been true to their plan. So it seems someone unloaded their position before the perforating and completion of the well. They saw numbers of the well being put on line to check for leaks in the new equipment and lines that were replaced, prior to any work being done on the well.
Now, everyone knows there is a resident bear here, who never owned a share of MDMP. Ask yourself, what ax does he/she have to grind? Maybe a competitor or disgruntled former manager. Whatever it is, I drown out the noise because he doesn’t know a thing about oil and gas production, and MDMP is on location actually doing the work. TRANSPARENCY!!!
Here is the project plan for the Lindley 6103 well. Read and you will see where we are at right now. And keep up at otcmarkets.com.
The first phase of work will begin before the Christmas holiday on the first of 4 Lindley wells in Irion County. We will begin work at the Lindley 6103 surface location by replacing old leaky equipment. While testing the 6103 well, several leaks were detected on surface equipment, with the most severe being on the heater treater. The heater treater will be replaced with a 3-phase separator and placed within the tank battery area. The lines from the well to the separator will be replaced with poly-pipe and a berm will be built around the tank battery.
Currently there is an open top tank for produced water. We will be replacing that with a fiberglass water storage tank. A water disposal truck will be called in to haul off the old fluids from the water tank for
removal. We are also building a flare line to accommodate us during times when the Targa system may be down.
Junk will then be removed from the site, some fresh rock spread around and we will then place a test tank near the well. The completion rig will be called in to pull the equipment from the well to make ready for the wireline truck to log and perforate (6 shot per foot over the top 10 feet of the 42-foot section). We will then be cleaning out the well after the perforations in preparation for the re- completion.
We have scheduled the recompletion process after the New Year holiday so that we can have a smooth flow of work while returning the well to production. The re-completion should take approximately 1 - 2 weeks.
Our next progress report will be issued when we begin the re-completion process after the New Year
Huge week ahead! Those 3’s looking very good right now.
Oil.....lots of oil coming to MDMP. A 200 well plan with the 1st well due to be completed by end of next week and flowing. They are testing the well this weekend prior to re-perforating.
Drown out the noise from one poster here, he’s never owned a share. MDMP predicting $4 Billion asset when all 200 wells are completed. $$$$
A new link? Lol, looks like an old spreadsheet.
Spend so much time trying to get peeps to sell their shares won’t work. This is a huge play!! Boo boo is getting very desperate....sold too soon? Haha
Here you go boo boo....
Support is @ .0252
Resistance is @ .03 and .0329.
From a traders perspective, if this mornings opening is any indication, MDMP will pop through resistance soon!!
Not sure what all this Boiler Room talk is, I’m just here for good returns!!
Read the chart, higher lows, very thin up to .035. And .025 is a bottom today.
The trend is North boo boo...
Here’s a good explanation of how a perforation gun works:
https://www.epa.gov/sites/production/files/documents/casingperforatedoverview.pdf
So, will have 60 perforations in a 10 foot pay zone, verses 10 perforations in a 10 foot pay zone.
If there’s oil there (which I expect), the other 3 wells on another Lindley lease will be even more exciting to see!!
February will ROCK!!!
We may get the initial test rate prior to reworking the Lindley 6103 now that the downstream equipment and lines have been replaced. If we get the pre rework numbers, we should see the results after rework as potential.
The perforations will be 6 shots per foot with 10 feet of pay!!
Prior perforations were only 1 shot per foot.
Rework of this well will include perforating up to 6 shots per foot over a ten-foot section at the top of the 42-foot thick Canyon Sand pay zone interval.
End of next week at earliest, IMO.
SP is very cheap here!!
Phase 2, the actual reworking of the Lindley 6103 takes place. Should be complete in a week!
Well said!! EOM
reces, their are a lot of misconceptions about the OTC Short Volume Report.
https://blog.otcmarkets.com/2018/11/13/understanding-short-sale-activity/
Good read
News tomorrow or Monday morning with production numbers.
The top Bolly Band on the 5 day passed .032
BOOOOOM!!!!
The Lindley 6103 well is just the tip of the iceberg. Always some doom and gloom prior to the fireworks. The masses will come.....and I’ll still be here!
All pre reworking of well. Looks like flushing the well and lines for replacement of equipment, lines, and well work. The new well status will be reported soon......those numbers mean nothing today.
The breakout above .03 is coming soon! The first of 200 wells coming on line this week (Lindley 6103).
Then on to the next 3 wells..... Lindley A-1, A-2 and A-3 wells, in preparation for re-working of those three wells. Update reports will be posted to OTC as the work progresses.
Huge Upside here!!
https://www.mrt.com/business/oil/article/MDM-Permian-targets-overlooked-Permian-reservoirs-14560297.php
This is what’s happening now!! This is only the beginning.....1st completed well on line this week. Maybe news next week? Production test rates?
Check out this share structure as of yesterday.
MDMP SECURITY DETAILS
Share Structure
Market Cap Market Cap
7,251,655
01/27/2020
Authorized Shares
400,000,000
01/27/2020
Outstanding Shares
261,792,610
01/27/2020
Restricted
226,092,000
01/27/2020
Unrestricted
35,700,610
01/27/2020
Held at DTC
24,800,610
01/27/2020
Float
24,850,000
08/27/2019
Par Value
https://www.usgs.gov/news/usgs-estimates-20-billion-barrels-oil-texas-wolfcamp-shale-formation
That’s where MDMP leases are.....Wolfcamp Shale
Here we go.....sprinkle that powder lol
Those bands are tight and ready to blossom
#PermianProgressPost “Work has begun on the Lindley 6103 tank battery and infra-structure. Expect to turn the well back on to production this week.” #MDMP
If 150 bbl rate or more on this well we are more than golden!!
Huge news and on my schedule. $MDMP will rock very soon!!
Good job!! She’s very close....
IMO today’s market will not have any impact on what $MDMP is doing at this point. The work has begun!! The future is very bright MDMP. Now is the time to lock up your position!
Texas Operations $MDMP
Geologists say a new survey shows an oilfield in west Texas dwarfs others found so far in the United States, according to the US Geological Survey.
The Midland Basin of the Wolfcamp Shale area in the Permian Basin is now estimated to have 20 billion barrels of oil and 1.6 billion barrels of natural gas, according to a new assessment by the USGS.
That makes it three times larger than the assessment of the oil in the mammoth Bakken formation in North Dakota.
The estimate would make the oilfield, which encompasses the cities of Lubbock and Midland — 118 miles apart — the largest “continuous oil” discovery in the United States, according to the USGS.
The term “continuous oil” refers to unconventional formations like shale, in which the oil exists throughout the formation and not in discrete pools. The USGS estimates how much oil is considered to be undiscovered but technically recoverable.
“Even in areas that have produced billions of barrels of oil, there is still the potential to find billions more,” “Changes in technology and industry practices can have significant effects on what resources are technically recoverable.
Oil has been produced in the Wolfcamp area since the 1980s by traditional vertical wells — but now companies are using horizontal drilling and hydraulic fracturing to tap the continuous oil reserve. More than 3,000 horizontal wells were operating in 2016 producing 4.3 million barrels per day. Today there are thousands more horizontal wells being drilled in the Permian Basin, not just in the Midland Basin area. The activity has expanded into the Delaware Basin area of far West Texas and eastern New Mexico. Permian oil production in total has reached a high of 5.4 million Barrels per day with more to come.
Oil columns in the Permian can reach 4000 ft. This means there are multiple benches for horizontal drilling and EUR’s of millions of barrels per location! MDM believes this area is a drillers best bet for billions of dollars in returns.
$MDMP Anticipating a HUGE week here in the run-up to the next weeks news.
February will see .10 minimum....JMO
If my intuition and correct read is right with the catalyst and charts, I think in February we see .10 plus here. This is a no brainer. Load what you can, low floater and bid sitters not filling for the most part. Hit the ask and she blows up.....not many cheapies left here, imo
What if when all of the new drills and reworks prove to be worth more than $4 Billion?
Maybe the CEO was being conservative too?
$MDMP