Based on all my research of the formations, depths of the reservoir and drilling practices for shallow wells, I would expect 45 to 90 days start to finish. That means drilling, completing and bringing production on line. From my knowledge of the setup, the lease already has the infrastructure (tanks, piping, pumps, etc) in place to process up to 450 bbls/day of heavy oil. I would guess that the oil is being sold to the refinery at Coffeyville, KS which is about 1.5 hours South West of Grassy Creek.
The refinery at Coffeyville can process up to 20,000 bbls/day of heavy oil and with oil approaching $120 bbl and 11M bbls in the ground at Grassy Creek according to a past PR, PCTL stands to benefit for years to come as a partner in the Joint Venture with Maverick Energy.
The lifting cost using Steam Assisted Gravity Drainage (SAGD) is well north of $40 bbl. The company has not released lifting cost using Catholyte+ but I imagine it is well south of that. The starting gun for O&G is when data on the final results is released. Personally I can see the company doing more JV and Partnership deals with lease holders as the royalties on those deals will support the company for many years into the future.
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