In presentation slides on the company website. 10,700 BOE per day was the rate of the flow test. It was 87% oil.
Keep in mind this is a company that produced 13,600 BOE per day in Q4 09.
They will exit Q1 2010 having added this well 10,700, plus the Gomez well 4,600 and 3 Canyon Express wells 3,500.
That means Q1 exit rate is going to be 32,400 per day vs the Q4 09 exit rate of 13,600. 2.3x higher. In other words a totally different company leaving the quarter than the one that came into it.
More good news should be on the way. The first Mirage well will be added in April/May and given that they found 3 times the pay sands that they had modelled 5,000 BOE production from it could also be a big one.
Then more wells coming in the year make for 60,000 BOE per day for total production in late 2010 or early 2011. What a dramatic increase from the 13,600 they entered the year with.
Oh, and the Titan monetization which will radically change the balance sheet is also still expected in the next month or two.
All in all. Great news.