Posted by Malcolm Graham-Wood - Malcy's Blog
Rose has announced that it has received approval from the US BLM to drill the GV22-1 well within the company's Paradox acreage in Utah. The well is located on the new leases acquired in March 2018 and where 3D seismic was completed in December 2017.
Rose plans to drill this well once it has agreed with the BLM some boundary changes on the Gunnison Valley Unit whi was will take around 45 days of admin. The well which will be a horizontal one has the potential EUR of 894/- boe consisted with the Gaffney Cline CPR. Nearby well data makes Rose management a ‘high degree of confidence ‘ in the well potential for its first well. These are exciting times for Rose and the next months should show appropriate reward to management and shareholders.
DNO has put out a Tawke update which states that in the fourth quarter Peshkabir has ramped up to over 50/- b /d from six wells coming in ahead of target and below budget. With the seventh well expected to start producing shortly and the next, Peshkabir-9 due to spud in mid-November. The Tawke field also saw two shallow wells come on stream during October with the deeper 49 well following later this month.
Finally the Tawke-52 Cretaceous well will spud by the end of November. Overall Tawke is producing at an average rate of 80/- b/d and the operator expects to exit the year with production from the PSC of at least 130/- b/d. Obviously this is very good news for Genel who continue to deliver excellent numbers giving first class numbers which will be reflected at the next update.
AMER has announced that the Indico-1 well on CPO-5 is due to spud ‘imminently ‘ which is highly encouraging. This is the same play as Mariposa-1 and if it comes in will be extremely meaningful for the company. With existing production and a host of potentially massive wells coming up at 10p the shares are uncommonly cheap and must be a lock away for long term invest
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