The first well was fracked on the coldest day in Panhandle history. I'm sure any kind of system (composite balls or plug and perf) will increase the output plus more ideal weather conditions will help too.
We were at 483 BPD in the last income statement on the reworked wells. Ponderosa's combined (Ponderosa + Molori) cash flow statement showed a net positive from operating activities.
12 fracked wells in Red Cave gets you that production level, but at higher break-even because of the increased well cost. These higher output wells will generate enough cash flow from the oil depletion allowance to pay for a significant portion of the next well.
Trying not to get to far ahead of the current picture. Share price will drift sideways to lower. You may get your wish in August and enter at the bottom.
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