What happened to the PR touted (twice in June?) the 2,058 BOED's? The ACTUAL June production (720 BOPD/856 Mcf/D) sure is a far cry from 2,058 BOED. Its not even 1/2 of that is it? Maybe the "E" in the 2,058 BOED number is made up of calcium carbonate or cinder block production converted into barrels of oil equivalent? LOL. Or perhaps more realistically, that 2,058 BOED number may have been the level at which the production facilities that were in place at the time could produce/hold that much oil/gas on a daily basis? Or the "Moffat discovery" production just didn't hold up and add about 1,000 BOED (6,000 Mcf/D?), as they thought it would?
I did notice though that PV only reported 4 wells doing about 600 barrel of oil per day with another 24 wells shut-in. Maybe the other 4 wells they drilled (drilled 8 total?) are held confidential/not reported and those are the wells with the "big" production (1,000's of BOPD?)? Looks like Temblor, after many 10's of millions were spent on new wells (remember all the 1,000's of feet of oil they "found"), a water flood, steam, new pipelines, new production facilities, etc. etc, that its STILL doing 100 BOPD. That property sure turned out to be a dog!
Well, they have increased production and that's a start. I just think they need to increase it a lot more so the numbers get close to what is touted in PR's in order to regain confidence in the investment community.
Geo
