Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Joe Magner - Tristone Capital.
Joe Magner - Tristone Capital
The well producing at 40 million a day hasn’t been on that long. It’s in the same general vicinity I believe as the Mabel Oil Well you drilled a few years ago and I think that well stayed flat for 12 months to 18 months or 24 months, you might have to remind me on that. Is that something along the lines of what you’re expecting from the Two Sisters well?
Tom Jorden
The Mabel Oil Well is in Louisiana, a different formation, a different behest entirely. So we really don’t make any analogies to the Mabel Oil Well. We’re forecasting the Two Sisters well to stay flat. Certainly, I don’t know, Joe.
Joe Albi
The encouraging thing about the well is that it has significant flowing pressure. So when it comes down to is how fast that flowing pressure drops at these rates? Right now we’re early in the game and I would say that given the pressured performance data that we’re seeing right now it certainly looks as it could hold its own for at least three months. It could hold it longer than that, but it ultimately will be a number that we’re going to get a better feel for as we produce the well for, I’m guessing another month to get some them on all pressure data and watch our point to that.
Mick Merelli
The thing too is that these guys are kind of dancing around all of this. We’ve got a fairly good size seismic anomaly. It looks like reserves are going to be. We feel good about the reserve level, but we don’t know right now is how many wells it’s going to take to do that. There maybe a little bit of reservoir separation in that anomaly. We’re not sure.
So until we get through all of that, then if we can drain the whole thing with one well, it’s going to stay flat for a year or two. If we have to drill another one or two wells to drain the anomaly, then they’re going to decline a little faster. Right now, we’re not sure. One thing we do know, it’s a hell of a well and it’s tremendously economic project.
I would say the thing that we’re really encouraged about is that we’ve got some look alike, which in the past means that about half of them are going to produce, because there’s always something else happens. We’ve done a really good job over the years, making about 50% of these things do what we thought they were going to do. If 50% of them produced you make a ton of money.
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