Good morning Jonsie. Based on the lack of any significant production increase for 2006, or actually a production decline per well, I would venture to say TIV was extremely unsuccessfully in returning all, or most, of those idle wells to production during their extensive/expensive 2006 rework (refurbishing?) campaign. It appears they miss interpreted (engineering wise) their ability to "breath life back into them" and have them produce commercially once again. But then, maybe their intention was NOT to increase primary production from those reworked wells but to simply change out the old tubing/sucker Rods and down hole jewelry to sustain the high heat/pressures from an eventual steaming campaign? Perhaps they will be able to increase production on primary from the new wells they drilled (4?), especially after hearing about how they encountered thousands of feet of oil saturated rock, being high structurally and discovering a "new pool", but it seems they may not be able to do that without some assistance as well (water flood, steam, frac, etc) or I imagine they would have already put them online months ago.
You are very correct in saying the shorts and PPS "problem" should take care of itself (like have the pps go up from added buying interest and covering) once the production rises substantially. Time will tell. Boy that sounds like deja vu.LOL
Geo
AI
