I'll say first that I hope the Mitchell #1 produces 160 BPD just like it produced for years. I wouldn't want to be labeled a basher by those wearing the rose colored glasses. On the other hand since there is little DD to report as compared to "so much going on" then let's discuss the wording below from the 7/31 PR concerning the Mitchell no. 1. We can discuss while we wait on the pump jack another day or two that was suppose to be installed last Thursday. We know that one of Mitchell #1's delays was the TRC severance which was cured and then it took some time for the oil to be emptied from the tank but revenue from the well was going to be "immediate" according to TECO. I read the 7/31 Mitchell #1 PR as though the well was still capable of producing 160 BPD not too long ago but that is my fault. The 160 BPD number comes from another outdated bullchit "certifcation" just like the Madeley's 192 BPD was? The point being is their a chance that the production could be substantially less than "the words" in TECO's PR and the answer is yes. I'm a shareholder so I do hope for the highest BPD possible but I doubt it will come close to 160 BPD. The well is adjacent to the #3 and #4 by 813' which are producing an indefinite BPD now since TECO won't put a number to it but says "production has dropped a bit" from the original 80 BDP. Are #3 and #4 each producing 25 or 30 or 40 BPD? I guess adjacent wells 813' from #1 is enough high tech scientific analysis to predict similar production rates. Taking my "rose colored glasses off" and IMO there is a chance that it might not produce at all just like the Madeley has so far and I refuse to get my hopes up. I assume the Mitchell #1 started producing 160 BPD around the timeframe of the Oil Well Potential Test, Completion or Recompletion Report, and Log which is dated 1996. Does anyone know how long the well has been down before the July 29th fracking? TECO also mentions this: The Company successfully completed a work over the same day in order to immediately increase the Company's production and revenue. One month later and the cost of a pump jack is far from "immediate". Again; lots of words and numbers in PRs and newsletters and still no oil from Mitchell #1!
Mitchell #1 PR: http://www.treatyenergy.com/news/treaty-energ...ell-1-well
Mitchell #1 PR: http://www.treatyenergy.com/news/treaty-energ...ell-1-well
