SureTrader Advertisement Advertisement
Home > Boards > US OTC > Oil/Gas/Natural Energy Production > Worthington Energy, Inc. (WGAS)

WGAS - $26M in possible financing:

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
xZx Member Profile
Member Level 
Followed By 962
Posts 66,029
Boards Moderated 9
Alias Born 02/17/05
160x600 placeholder
Current Report Filing (8-k) "Edgar (US Regulatory)" - 3/18/2015 3:48:25 PM
Quarterly Report (10-q) "Edgar (US Regulatory)" - 3/5/2015 12:51:34 PM
Quarterly Report (10-q) "Edgar (US Regulatory)" - 3/5/2015 12:47:37 PM
Current Report Filing (8-k) "Edgar (US Regulatory)" - 2/18/2015 10:07:48 AM
Amended Statement of Ownership (sc 13g/a) "Edgar (US Regulatory)" - 2/13/2015 5:01:31 PM
xZx Member Level  Sunday, 08/26/12 03:55:44 PM
Re: Zorro post# 7532
Post # of 71372 
WGAS - $26M in possible financing:

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:

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.

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist