" The well was free flowing to surface during the entire test period and the estimated well drawdown was only about 20 per cent......" I have not seen the drawdown differential referenced before but I take it from the little I know that the lower the number the better, so 20% is good for these types of well? That is a question. Thanks (maybe the market price will answer this tomorrow>)
$2.40/share as the daily low the last time I looked at the stock price. I don't know if this answers your question. However with that being said, they should have reached their target of : "its year-end exit production guidance of 3,830 boe/d (57 to 60% oil and condensate" after adding on the 500bbl or so from the 9th well.
From the Oct release: "Manitok's daily corporate production is currently fluctuating between 3,400 and 3,500 boe/d with approximately 1,850 to 1,900 bbls/d of light oil and condensate which is about 54% of total production.". Add 500bbl to 3400 boe/d, we get 3900 boe/d. 1850 bbl plus 500 bbl give us 2350 bbl. 2350 bbl is 60% of 3900 boe/d. So they basically have met the year end exit guidance already with the ninth well. How much is this production worth is another matter. It appears the stock price speaks for itself unless someone is dumping the stock and pick up more at a lower price.