Notice! It is the first of August. Treaty is just now getting ready for oil and gas sales. So it is not being smart to consider that there will be "oil revenues" or even "gas revenues" for July in the report out in August. However, there should be some oil and gas sales for August in the report out in September. And the real jump in revenues should not be expected until the fourth quarter. Remember the PR, they will rework one well, possible redrill horizontally one well if the pressure subsides, and begin to drill one of the pads selected in east Texas, but probably not that pad until late August or September. And then there are four wells to drill and each takes some time for drilling, testing and then production and bringing on line. Bottom line is don't try to jump too quickly into thinking revenue numbers will be big next week or even by the end of August. But they will be some, and they should ramp up more in September, even potentially more in October and then should move considerably higher in November and even higher in December.
On another issue, it appears to me that the shorters are in fact covering during the last few trading days. If the pps stays in the .05 range, plus or minus .005-.009 they have a chance to completely cover before Treaty announces another well hit, or rework with additional production and potential revenues.
AI
