The swab test definitively showed there is oil. the question is how big is the find.
From the last press release dated July 11, 2013 "After swab test were ran on each well the test returns yielded oil. These results are very positive and allow us to move to the next stage of completion which is scheduled for Friday. We have scheduled sand fracture stimulation treatments on each well for Friday"
The CEO said the back gas pressure that they found on these 2 wells is normally indicative of substantial oil reserves.
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