Bull, TECO is starting the W.Texas project over a
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Bull, TECO is starting the W.Texas project over a month after it was last PR'd. That said they might have always expected to start in late January although maybe they expected Pistol to start the drilling sooner. In your opinion does this put the estimated completion date out beyond 1st quarter as PR'd by Mr Gwynn below? I assume they are already one month behind schedule on this project? So 21 wells estimated at one business quarter or 90 days to drill averages 4.3 days per well. Will you be there long enough to see results of the first or second well? I'm watching L2 closely for buying to commence in the 10mm to 20mm volume range based catalyst progress. That's whats needed to move this IMO and volume precedes price. Let's see how volume goes during the 21 well program which will indicate the market's knowledge of flow rates and BPD in parallel with any other catalyst. TECO needs a defibrillator to get this old PPS jump started.
"Mr. Gwyn added, "With the expertise of TNC Energy, our production will start to rise quickly, which brings revenue directly to the bottom line. Once these 21 wells are drilled by TNC Energy, we should see production levels around 400 barrels/oil per day, and this should be completed by the end of the 1 st quarter of 2013.""
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