FWIW, RB post of my reply to doc's post re-posted here and referenced, re his trip to Mineral Wells:
doc, thanks for posting your reports from your visit to Mineral Wells. With the exception of the pump problem of not getting water off the Hart #8 gas well, the reports were positive for investors in many ways. 'Very positive' IMVHO in a couple of instances that I will mention below.
First off,, although most investors seemed focused on the Hart #8 well, Once again, it is a shallow Strawn Sands well that will be an OK gas producer. That said, no one is happy that they are still working on that pump, and no doubt that it has been a drag on the SP. But it is a small well compared to the deeper wells that can also produce high grade condensate oil with the gas. Keep your eye on the real prize, and it's not Hart #8 folks.
The Condensate Oil and Gas production from the Hart #2 alone, that they fraced last week, could be the real news. This well originally produced 1,000 barrels of Condensate Oil per week out of the Marble Falls formation, and quantities of NG on a small frac. This time it got a much, much larger multi-truck frac.
Same for the Murphy - Nash #1 Barnett Shale well just recently drilled and fraced today according to doc, it's numbers should also overwhelm Hart #8's revenue. Again since it 'off-sets' AMEP's two best wells, Hart #2 and the Vivian well. I am expecting quantities of Condensate Oil and Gas from this well too.
Once the frac fluid is removed from these two wells, they should be on production of condensate oil and gas. Who knows, they may be on production before the Hart #8.
As expected, again based on tharmons report too, they are planning on going horizontal on the Padgett #11, that could be AMEP's best news in the pipeline, behind the other 3 wells coming onto production.
Doc, do you know if they had reached a vertical TD with the Padgett #11 into the Barnett ...and logged it? Are they just waiting on the "horizontal pipe"? If so, I am assuming the log was 'Good'.
Also Doc, where are they on the re-entry well with 5 1/2" casing on the Padgett lease?
I was more than pleased with your report doc, with the exception of the Hart #8 pump. I'm happy to hear that production well(s - plural), producing condensate oil and gas, will be announced in the near future as progress is being made - as evident by the two frac jobs completed and the latest drill to the Barnett on the Padgett lease. Even Hart #8 could be quick news once they pump the water off, as everything necessary for sales is already hooked up.
Many thanks for the report doc,
GLTY,
...hawk
