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WGAS - $26M in possible financing:

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Current Report Filing (8-k) "Edgar (US Regulatory)" - 9/10/2014 6:00:08 AM
Notification That Quarterly Report Will Be Submitted Late (nt 10-q) "Edgar (US Regulatory)" - 8/14/2014 3:46:17 PM
Current Report Filing (8-k) "Edgar (US Regulatory)" - 8/7/2014 12:05:19 PM
Statement of Ownership (sc 13g) "Edgar (US Regulatory)" - 7/17/2014 6:02:13 AM
Form 8-K - Current report "Edgar (US Regulatory)" - 6/27/2014 10:32:54 AM
Information Statement - All Other (definitive) (def 14c) "Edgar (US Regulatory)" - 6/17/2014 5:18:19 PM
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Worthington Energy Discusses Existing Assets on Barr Lease "Marketwired" - 5/28/2014 10:28:00 AM
Quarterly Report (10-q) "Edgar (US Regulatory)" - 5/20/2014 1:50:44 PM
Worthington Updates Valuation of the Barr Lease "Marketwired" - 5/15/2014 11:45:00 AM
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Worthington Initiates Heavy Oil Project in Kansas "Marketwired" - 5/6/2014 11:15:00 AM
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Worthington Completes Acquisition of ADR's Oil and Gas Assets "Marketwired" - 4/22/2014 10:05:00 AM
Amended Statement of Ownership (sc 13g/a) "Edgar (US Regulatory)" - 4/17/2014 2:34:48 PM
Worthington Energy to Utilize ADR's Levia Thermal Oil Recovery Process "Marketwired" - 4/8/2014 10:15:00 AM
Worthington Energy Discusses ADR's EcoLift Artificial Lift System "Marketwired" - 4/1/2014 1:40:00 PM
Notification That Annual Report Will Be Submitted Late (nt 10-k) "Edgar (US Regulatory)" - 3/31/2014 3:54:19 PM
Worthington Energy to Target Heavy Oil Play in Kansas & Missouri "Marketwired" - 3/25/2014 10:15:00 AM
Worthington Energy and American Dynamic Resources to Begin Collaborative Efforts "Marketwired" - 3/18/2014 10:15:00 AM
Worthington Enters Into Definitive Agreement to Acquire Oil and Gas Assets "Marketwired" - 3/12/2014 11:15:00 AM
Statement of Ownership (sc 13g) "Edgar (US Regulatory)" - 2/20/2014 4:23:13 PM
Form 10-Q "Edgar (US Regulatory)" - 1/24/2014 4:12:16 PM
Form 10-Q "Edgar (US Regulatory)" - 1/23/2014 12:15:42 PM
xZx Member Level  Sunday, 08/26/12 03:55:44 PM
Re: Zorro post# 7532
Post # of 71118 
WGAS - $26M in possible financing:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78734114

how many boepd would we need in order to pay off all $26M in a year?

here's what 1,000 boedp would do for us:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78928042

and that means $18,250 per barrel per year, so to eliminate the remaining debt, we would need 425 more barrels of oil per day.

let's add this up. to erase the new debt listed in the 10Q, which means convertible refinancing, plus the cost of d-bar, purchase and working capital, drilling expenses for VM-179... the south texas leases purchase, plus south texas drilling costs -- ALL of that...

we could pay it off in one year with 1,425 boepd.

this sounds easy enough to me, given the scale of these assets. then we'd be bringing in pure profit after that.

and -- keep in mind my figures are net, not gross, based on tossing out 50% of all production as costs of operations. higher margins than 50% means we pay it off even faster. this means if oil goes above $100 a barrel, since our costs are fixed, that all goes to the bottom line.

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