NEO nuenco nl

take notice time

  1. 7,604 Posts.
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    Will get back and catch up on some of the posts today and reply to some of those later but thought this should be brought to everybody's attention who are interested.

    GGP this afternoon have announced that they are going to re-enter the Acosta #1 well. That was the well drilled at Bullseye back in 2005 that ran into mechanical difficulties and was abandoned before the 14,000 ft mark.

    A rig is to move onto site near the end of this week and begin the re-entry. The Acosta well has casing set at approximately 12,000 ft.
    It seems that the intention is to drill and test the Camerina and then also the Miogyp. If successful then production could be commenced straight away.

    The time for the drilling and start up of possible production could be 2 to 3 to 4 weeks depending on how it goes.

    For NEO this could mean a sudden boost to the monthly cash flow if Acosta #1 can flow at 700 barrels as well. Obviously it would double that $80,000 cash flow that is coming from Jumonville#1 for a very small cost for this well.

    Of course if the flow rate from Jumonville#1 is higher than 700 bopd ( as is most likely) then we could hope for a similar increase for Acosta's production.

    Therefore NEO could be looking at a very nice earning stream from two wells operating before Christmas.

    Time to sit and take notice IMHO
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