Some positives in the update provided by the company.
* Having conventional wells (lower cost) is a big plus - however it would be good to know some more detail about their statement " In addition to this AOW also has an extensive portfolio of low-cost conventional drilling targets which are economic at very low oil prices." specifically what the economics are
* Good to see founder adding to his shareholding (ie 938,454 additional shares since 1 aug) - would like to see the CEO do the same
Also had a look at the November presentation the company provided - it stated
"Second conventional well with Anadarko Minerals on Northern Star project , indicative timing Dec 2014 &
First horizontal well with Great Western on Northern Star project , indicative timing Dec 2014"
Comparing this to Dec qtry
"AOW conventional drilling programme well underway – Fort Peck 6-32 well successful On the 21st October AOW announced that it had become a commercial oil producer less than four months after listing on the ASX. The first conventional well, Fort Peck 6-32, was successfully completed in the Lustre Field at the Northern Star project, Montana. AOW’s JV partners are now in the advanced stages of planning for the next conventional well with drilling expected in March."
"Northern Star Project, -12,602 net acres Valley County, Montana Unconventional drilling programme to commence at Northern Star project The high impact unconventional drilling programme is scheduled to commence in March."
Nothing major here - but a couple of objectives seem to be shifting - ie Dec 14 to March 15 - Might be a planned delay due to lower oil prices - but ongoing would prefer mgmt provide details on any delays
