It appears this company is currently producing about 1000 BOPD equivalent from it's Cheal Field, with a share price of under $6.
There has been no announcement about Cheal Horizontal about flow rates (400-500 BPBD before re-entry) since then they perforated another 225 meters and there has been no announcement on flow rates. We are also still waiting for flow rates from Cheal B Stepout or from Sidewinder 2,3 & 4.
My understanding is that they are flow testing various wells now so we should be getting some form of announcement in the near future.
Assuming the flow rate announcements are good, the Sidewinder production station is complete and the wells come on stream around August 2011. Does anyone have any idea how to value the increased production?
It appears this company could increase it's production by 4-6000 BOPD over the next few months as these wells come on stream.
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