ESTIS#1 - update +
ESTIS#1 - update
Pete and Sam have decided to Gravel Pack wells #2 and 3 on this project, which are also the 2 wells that have been in production so far. However, both are down due to technical problems which must be resolved this week, but at the same time these improvements will be made so that we would like to have 2 wells with a daily production of approx. 30 barrels of crude oil, which will be a significant improvement compared to the 6-8 we have had on off since we took over the project.
Lippincott#17 - update
Pete has stated that he has contacted a broker company with a view to the possible sale of this entire project. the project has pulled teeth on everyone who participates in terms of both capital and waiting time, at the same time it is Sam's assessment that we can get the wells up and running, but that the price for this work may be too much to be able to do a healthy business. Therefore, the possibilities are being investigated for a sale to an operator who has more activities in the area and therefore the opportunity to run the project more profitably, even if a lot of resources have to be used
We are waiting to hear more about this possibility.More news will follow as we send it.
Sam has stated that DORADO will come out this week and her oil from both ESTIS and Lippincott#17, so we'll see if it holds up this time.
More news will follow as we send it.