Chaco Resources CHP (Moderated thread)

Sharesure2 - 30 Dec'06 - 11:01 - 19071 of 19073

20-30 wells in 2007, not so difficult or expensive - each successful well drilled self funds the next inside a fortnight. What is more I suspect developments at Platinillo could make all that possible.


sharesure, i think you will find Nikki is right. If you were on the market, I could have saved 2 salaries in one and took you on instead of Nikki and John W, and you could find the money and the drills. i presume you are a magician?

stewart, your more on the right track, but Tullow has an awful lot of wells to produce that quantity and took a long time to get there. also the viscosity is a little different, and we don't yet know the pressure in the fields, but it would presumably be a lot less than Tullows. We would be very happy to get 1000 per day, but lets imagine 1200, as you think is possible. Say 25 wells. its true they may only take 2 weeks drilling, but you have to get the rig to the site, assemble it, drill, disassemble it and transport it to the next site. A good month, or month and a half to drill each hole, minimum. Then you have to bring it to production, which would take another fortnight if you are extremely lucky, more like a month or so, and then only when you know its a producer can you install the receiving equipment, and transportation to the collection points, and tie it into the infrastructure, etc. So now you have drilled the first well, you then have to stop and analyse everything you have learned about the field before you can pinpoint where to drill the next hole. and of course, all the above is assuming you have oil there, and it is as abundant as you forecast.

I agree sharesure is well respected by many, but is that respect built on a proven track record and years of knowlege gained from working in the industry? Or is that respect built on a blind belief that everything he says is true, and is really what we want to hear? I think it may be the latter.

I for one, believe Nikki is right here.