really BS MS should have done the entire block 3 weeks ago .Shows what wall st. is GREED,,Pure pump and dump today they even floated rumor that VMC was in talks to buy SLCA . IMO that came right from the MS bankers desk .
Thanks for taking the time to read and post, I agree with your assessment . If you have a chance please listen to the call as well this is where the problem lies not the progress with the drill programs,It is, IMO, the way the questions were responded to. It has left me and probably others with more uncertainty, the older 3 wells at cheal combined 50 BOE a day and the related mechanical problems, Grath did not clearly address if these have been corrected .May be when we get more color on the 5 wells currently being tested it will help clear these issues . I would highly recommenced that Drew be available when conducting these calls. Does not take much to make investors nervous .
reason I am pointing the call out was because the Credit suisse analyst asked few questions and were totally mis handled by Garth probably why there is no reply. He also made it sound like Cheal was experiencing mechanical problems plus the older wells at cheal were producing only 50 boe now. There was no explanations . He should have had his operations guy on the call. I am sure things are progressing well tin NZ but one thing a company does NOT need is to inject a degree of uncertainty in its current program.
do you know makes econ friendly biodegradable surfactants for SLB well I will tell you because obviously you have no clue about this business . FTK does !!! Always a fool who does not take time to research before posting
That's for you coonhollow for some reason the first four letters is a no-no to post on yahoo they automatically entered #$%$ when I abbreviated your handle .
i would get back in again #$%$ especially if it opens positive tomorrow. Good 200 ma test and allot of investors always get shaken in these BB plays plus I am will to bet 90 % of the new buyers a month ago knew nothing in regards to what EWP does so EZ shake outs for market makers . GL happy T day
Sentiment: Strong Buy
agree they either get schooled on Conf Calls or do not have them . May be there will be a replay. Everything fine now uncertainty it has spilled over into their partners shares as well
The reason EWP getting hit is the confusing conference conference given by Management GRATH at TAG they need to get a replay out and a translator bring Drew into the call next time ..
Urenui/Mt. Messenger Formation Wells (Shallow ~2000m)
TAG has drilled, completed and is currently testing the first three conventional step-out wells (Cheal-E1 to E3) and has spudded the Cheal-E4 well (TAG 70%). The results from these wells are particularly important as they have substantially extended Cheal's known oil saturated area. TAG has also expanded its extensive Taranaki production infrastructure into the Cheal-E site, so that all of these wells can be immediately placed into permanent production.
To ensure more reliable production forecasting on future wells in this emerging Urenui/Mt. Messenger play, the Cheal-E site wells will be initially tested individually, with each well flowing for approximately 15 days, and then shut in temporarily to conduct pressure and temperature analysis. During this shut-in period, the next well will be placed on a 15-day production test until all new wells at the site have been individually tested and proper build-up analysis completed.
To date the Company has tested the Cheal-E1 well for 5 days with an average production rate of 600/BOE's per day (94% oil) with a naturally flowing tubing head pressure of approximately 600 psi. The well has been restricted with a 1/4" choke until further oil storage facilities are added to the site, following greater than anticipated initial flush production rates.