"but unless the news releases are outright lies"
Let me interject that I don't hear anybody saying that.
However we have parsed these PRs at great length , a practice which has nearly always in the past proven to be at least worth the time required.
It certainly sounds like TIV is producing more oil today than they ever have in the past ... at the very least in short-term production bursts , and possibly for increasingly longer periods over time ... which certainly provides for a greater hope for profitability at some point in the not-too-distant future.
But if you include all of the comments TIV makes in these same PRs you quote from , such as:
"are still in testing phases and their initial production rates vary"
Hmm. Doesn't sound like every day to me. JMO
"has already attained that capability"
Capability? Or is producing at that level? If producing .... producing at that level every day , or for short periods between steaming cycles?
"Production from 39 active wells reached 1,015 BOED on May 8, 2008"
Was that 1015 BOEPD on May 8 when a lot of steamed wells were produced at maximum , but possibly very temporary , output?
Or were they producing 1015 BOEPD every day , between May 8 and May 13 when they PR'd a higher rate?
"having already attained a production rate in excess of
1,500 barrel of oil equivalent per day (BOED) on May 13"
How much of that 1500 BOEPD "on May 13" came after turning on several steamed wells at the same time for a short duration at the height of their "vary"ing production and possibly extrapolating an "initial" rate out to 24 hours .... and how much was sustainable production?
It's Tri-Valley's own language which leaves these questions open for discussion and speculation ... at least for the moment.
In any event , revenues should be up vs late 2007 and vs 1Q08. As you say , this could well represent a 'sea change' for Tri-Valley.
The above is my own objective analysis and opinion , devoid of emotion. Not trying to change anyone's mind(s) , simply providing my take on things.
jonesie
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
