So the oil would generate @ $40 a yearly revenue of:
230 bbl x $40 x 365 = $3.36M
The gas would generate (if it can be distributed) @ $3.81 a yearly revenue of:
450 mcf x $3.81 x 365 = $0.63M
Is this considered a good well (good revenue)?
What's the yearly cost for such a well?
How many years until it's dry?
How many more wells could be drilled in that area?
As you can see I've not much experience in oil & gas.
Is the other company applying for a permit a separate company from WLL/STTX? If so, does it have their own lease?
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM