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GWG is supposed to be a subsidiary of AERN but you said separate company...
GWG got it....
What other company? The Peruvian gold mine ?
Separate from AERN? or will it spin off later? Either way will AERN shareholders benefit from any of these Gold activities? News was originally PR'd under AERN.
Nothing for Tony to do on Mustang Island. He can just focus on DBar and/or Redwater... Make 'em happen Tony!
Will this much volume , insiders may be loading up for a BIG run! July or June Surf?
15 million shares by 1pm? Crazy!
Any pieces falling into place this week? What's this about the SEC?
Great volume today!
Just how much oil do you think WGAS is going to profit from? In other words how much in revenues do you WGAS will make? Do you even know?
Sweet charts! :P
Are we going to hear any news before July? Q2 will be around Aug 15th even then it will only be $75K from your own estimates... revenues for a company with 1.5 Billion outstanding shares... They better have a whole lot more going on than just $75K if they want to make any money here... BTW - GIHI doesn't seem to be going so well either...
Hopefully we'll hear from Tony but... Based on the early April projected start of the work...If we start at end of June push this all back 3 mos or so...
"We anticipate taking approximately 17 days to complete the platform installation, tie in and testing, with initial production expected during the 1st week of May(now end of July). The well clean-up process should take between 45 and 60 days, resulting in significant production beginning in the late June or early July(now September/October) timeframe..."
When is this "lovin" gonna happen?
Any day now! Could be huge! Next question is how soon can it get up to cull production? Could fund the production operation of VM179 !
.17eps if wgas earned 1000bopd@ $80bbl....sorry guys. No way near 5.7!
DBar and Redwater are stepping stones to VM179.... That will put us over $1.00+ once pumping is online! Let's hope DBar phase 2 and Redwater are finalized soon so it can pay for infrastructure to pump VM179!
Is there a plan yet on how they're going to get the oil from vm179? I didn't find anything about a platform that needs to be built in addition to hire a production co to do the production.
Keep in mind Dbar and Redwater could bring1000bopd and vm179 is potentially a 2500bopd opportunity! All in the next 6 mos! The pps is not higher because wgas hasn't pumped a drop of oil...
Here's my rough math again... No timelines needed.
If wgas can get 1000bopd x's 20 drilling days/mo= 20000bbl's/mo x12=240000bbls/yr x's $80/bbl= an eps of $5.78 there's loads of potential here!
Let's hope so!
What's your pps target for wgas?
I think peeps are loading...jmo
Hopefully we'll hear about Redwater also!
News on those should come any day. Maybe next week be a huge week for news. We'll see.
What can we say that has not already been said.... More "news" will certainly stir up the peanut gallery!
Guys, please correct me if I'm off base with these numbers. I'm not an attorney or oil expert so some of the lease contract terminology is not familiar to me. From looking the Silvermere material here's what I came up with, feel free to nit pick at it my numbers and correct them. I'm taking a fast look here at what it's worth to WGAS based on what I found through Silvermere...
WGAS gets 10% of I-1 well which expected to produce 80-160BOPD = $12K - $24K/MO (@$80/bbl for 20 drilling days per month...(minus operating expenses)
WGAS owns 2% of the total Mustang Island lease which is 2% of $123Million = $2.4million (not sure of what other expenses get paid from this)
if these numbers are accurate then WGAS has much bigger plays. This seems like a sure thing and a way to get some money flowing. Redwater and D Bar look really promising. VM179 looks ridiculously huge! Too good to be true!
Mustang Island video here:
Mustang island info (proven reserves, etc) can be found at http://silvermere-energy.com/ search the new for this : 02.08.11 Proposed Placing and Acquisition of Mustang Asset
The Mustang Asset
Summary of Reserves for Mustang Island
Reserves Basis Gross Field Reserves Working Interest Reserves
Net Entitlement Reserves
Liquids Fluid Type (MMbbl) 1P 0.132 2P 1.204 3P 9.113
Gas Liquids (Bscf) (MMbbl) 21.92 0.044 48.14 0.401 91.13 3.035
Gas (Bscf) 7.31 16.05 30.38
Liquids (MMbbl) 0.027 0.251 1.899
Gas (Bscf) 4.57 10.03 18.99
1. Gross, 100% Basis
2. Silvermere WI, 33.333334% Basis
3. Silvermere Net Entitlement, 20.83% after over-riding royalties to Texas State, Seadrift, Wellmaster and the Core Vendors 4. Liquids refer to the condensate that condenses out of the gas
The Mustang Asset comprises a 33.3 per cent working interest and a 20.83 per cent. net entitlement interest (after deductions of overriding royalties) in the Mustang Licence Area.
That's a ridiculous statement! Dbar phase 1 complete, Dbar phase 2 and Redwater are any day, VM-179 is Q4 and Mustang Island is next week or week after but nobody knows how much revenue it will produce or how much in reserve...
Let's hope so!
Where'd you see that?
Hopefully he's at Redwater or Dbar finalizing phase 2!
For sure. Maybe we'll hear soon about RW.
They're already doing it! Theresa Jackson is Marta Oil... Who do you think the JV partner is in KS! So if these spin offs work out they can JV with each other! So long as this helps Al gets the money he needs it's fine with me!
Stan can spin off 20 companies but if none of them are turning a profit what good are they? He needs to focus on getting Al the capital he needs to fund the leases capable of producing 400+BOPD then BAM we'll have a $.10 stock!
That's what came to mind first but then it didn 't make sense. So which one would own the lease? How much money could a public company negotiating oil leases make? Is this like robbing Peter to pay Paul? Same pants different pocket etc... Whatever,so long as they make money this time around...
Do you know timing on Redwater completion date? Any day now hopefully.
Real estate like gold mines?