3,650 barrels of oil per day ("bopd") stabilized flow rate achieved during cleanup from the XIIb sand. - 1,520 bopd stabilized flow rate achieved during cleanup operations from the XIIIb sand. - One more test remains to be done on the IX sand that has been perforated and completed in the UMU-11 well.
Ths stock was never have supposed to have crashed.Kasmir capital gave it a down grade (very Soft downgrade) because it was at 90% of its target of $9.That crashed the stock into the 5's .pervsive , patent liars came around claiming there were no rigs operating .Soon the stock was being savaged by swine even though the drilling schedule was clearly obvious. News always leaks out to 'big bucks" and that is what is probably happening now.Buy on the rumor,but dont sell because this is a undervalued hot stock.
Oct 31 update;Ru-9 should spud by the end of 2013;targeting a large structure 2.5 miles from Osprey.3d seismic is about 75% accurate.Not withstanding, this could be as big as a find as the Titanic.Sword is exploratory and is probably completed and testing multiple zones for production.wmRu-8 is probably underway.Good bet for the next few months to double.1 Day trading is a crapshoot.Now ...ask yourself...do you want the insurance , my friend?
Dont agree with compressing Sword results into Mr.V's vacation schedule.the Oct 3 headline;During drilling the well encountered eleven third party reported hydrocarbon shows that include shows in the Tyonek gas sands, the Tyonek-G which is thought to be oil bearing and the Hemlock oil zone. With many identified potential zones behind pipe, the Company plans to initially perforate 168 feet in the liquid hydrocarbon zones and 66 feet in the gas-bearing zones. Third party reserve reports show approximately 950,000 barrels of oil based on only 43 feet of net pay. The completion on Sword No. 1 has been designed with the flexibility to allow for testing and production through multiple different oil and gas targets. Over the next several months, the Company plans to initially test and produce the Hemlock formation followed by the shallower zones and will announce results once completion procedures have been performed.
Sword #1(on land) is flexible &exploritory and should be cased.What does "exploratory" mean to you?It is testing multiple zones for production and should take several more months,then the rig will move to wmRU-8 , RUD1 =a disposal well ,RU-5 came in 100% water before RU-5B sidetrack was put in ,now RU-5 is producing oil and improving daily, Rig 35 on Osprey should be on RU-9 and should report in late 2013,rig 34 ( on the truck) got moved away from Olson creek back to Otter to deepen it. Nothing is late or outside of normal activities.To evaluate stocks do some minimal research and wait for it to happen.I am planning to load up big if Mill approaches $5.50 range because i see a good payback with in the next 7 months.Additional" factual" info will be appreciated.
i wrote it from from an april 2013 report,and updated it with old & new information.This board is drifting off into bizzare tangents of infrastructure construction that will not pay off for several years.If all anybody knew about Mill ,was Osprey,that would be enough because that is where the new tech is being applied to the old problem.None of this is esoteric or meant to confuse.
Miller Energy Resources, Inc., an independent exploration and production company, is involved in the exploration, development, and also operates oil and gas wells in the Appalachian area of east Tennessee and south Alaska (cook inlet). It is a value play for investors reworking older wells with its 100% owned newer drilling rigs on the Osprey platform in the Cook Inlet,redoubt field,and land based Alaska rig #34. Mill owns approximately 100,099 gross acres of leasehold interests; exploration license rights to an additional 580,147 acres; and interests in 10 crude oil and 5 natural gas wellsand has made excellent progress demonstrated bya doubling of production in July-Aug 2013.The company also owns 50,260 gross acres of leasehold interests nd interest in 193 producing oil wells and 191 producing gas wells. Miller Energy Resources,and it Cook inlet Energy 100% owned subsidary Inc., is headquartered in Knoxville, Tennessee. The current value should double during Jan-April 2014, as it rides the wave of expanding production from easy reworked wells on the Osprey Platform derived from the big National 1320 , Rig #35.
No Dumbo.watch where and what you are stepping in.Mill owns rig 35,National 1320 -on Osprey ( they paid 19.5 million for it),and an atlas copco truck based rig , #34.
With land based drilling rigs costing $25K+++ per day Baker Hughes and Slumberger have been using multiple sleeves down the Bore ..to exploit multiple zones for fracking, called superfracing.The initial bore goes vertical and then sideways drilling is initiated in likely zones.The well bore is plugged temporarily at different levels.Fluids and sand ,and also fiber are pulsed under high pressure to fracture the zones. Plastic balls have been used to plug the bore ,then later fished out, but now new tech is using disinegrating ball plugs that dissolve in a few days to frac different areas,The initial well start up cost of approx $2million can be saved by using multiple sleeves in one bore.
but instead it operates like a garish peep show booth! nothing of value seems to come out of there. if they do post anything it quickly get corrected by the disenfranchised, longsuffering, traders & investors.