CVN 0.00% 28.0¢ carnarvon petroleum limited

Minimum production rates

  1. 1,317 Posts.
    Just as a matter of interest what are we all expecting from the 5 wells now drilled? Will a figure of 1,500 b/d in total from all wells (average 300 b/d) be regarded as a success which is what the Oil and Gas Bulletin is suggesting? Or has the market already factored that flow rate into the share price and we will need 2000 - 3000 b/d to get some excitement?

    Personally I would even be happy with a total 1,000 b/d so CVN can pay off its Gemini debt and get on with developing this field. Its the longer term development of Wichian Buri that really holds the key for some serious upside. And they need to do that from cash flow. 400 b/d net to CVN ought to be enough particularly if they can use those Deutag guys again.

    Anyway nice to see those 4x250 storage tanks up on the site. Hope they prove to be totally inadequate. JBC
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