Major success for KEY, results from the well test is showing a significant gas flows. Announcement in London from joint partner Aminex, with its sp spiking up to 22% higher with some very large trades:
Initial results from the test have established:
• A strong stabilised flow of gas at a rate of 40 million cubic feet/day, equivalent to 6,700 barrels of oil per day, through a 72/64ths” choke;
• Strong flowing wellhead pressures;
• Condensate of one barrel per million cubic feet;
• No CO2 or H2S impurities.
Should see a very positive announcement from KEY first thing, which id expect will mean a strong re-rating. The strong result should mean an early movement to commerialisation, given they have access to the gas pipeline only a couple of kms away.
Not a bad effort for a company less than 12 months old! But what could we expect from the same people that brought us Hardman and most recently Minemakers?!!
Initial results from the test have established:
• A strong stabilised flow of gas at a rate of 40 million cubic feet/day, equivalent to 6,700 barrels of oil per day, through a 72/64ths” choke;
• Strong flowing wellhead pressures;
• Condensate of one barrel per million cubic feet;
• No CO2 or H2S impurities.
Should see a very positive announcement from KEY first thing, which id expect will mean a strong re-rating. The strong result should mean an early movement to commerialisation, given they have access to the gas pipeline only a couple of kms away.
Not a bad effort for a company less than 12 months old! But what could we expect from the same people that brought us Hardman and most recently Minemakers?!!