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Most of the wells started out at over 750 boe a day. This decline is over a year into production. The 3.5% stake varies well to well and is not standard. Approx. 15 to 18% of the EUR is produced in the first year and the rest over a ten year period. These wells are also now being re-fracked for 350,000.00 for an additional 200,000 bbls boe.. These wells cost 4.2 million a piece to drill and they are all in the green after 1 year of production. You don't do that on 70 boe per day.. Please try to understand the business plan as I have laid it out here over and over again. I just gave you a very good example again tonight..
Every well will have a different working interest. Also remember that every well Superior gets a free carry on, plus profits on the promotion. So, by taking the 5 wells that are currently producing Superior books reserves of approximately 156,750 BOE in the ground free or 11,756,259.00 dollars in oil and gas reserves. Superior currently has a drilling inventory of approx 70 new wells to get a carry on. That equals 164,587,500.00 full potential in the ground developed. FREE! Let's not forget the new offerings that will be coming out soon to add to the inventory.
This is a work in progress, remember that. It wasn't that long ago that hardly anyone thought anything would happen here. I encourage you to get your popcorn and enjoy the show. It's just starting.
Your point is well taken, if that would be the the case. However, it is not.
Here is a presentation that explains typical production. I refer you to page 19 of the presentation.
http://www.chaparralenergy.com/investors
The wells are now on a standard Mississippi Lime / Woodford Shale decline curve. They are well within the production parameters of the play.
12 and 13 are above average wells for the Mississippi Lime. Both of those wells have produced over 40,000 bbl's each last year with good gas production as well. Section 23 is a little bit of a disappointment, but it has paid it's expenses and is in the green. Section 14 is a average oil producer and a way above average gas producer. Section 22 is a good well and produced over 1 million in sales in the first month of production. So, in short 4 of the 5 wells are producing better than Devon's standard curve for Logan County.
I got a hold of SE. He is going to examine the well logs of the existing wells to see if there are re-completion opportunities. I should know something in a few days.
Send SE a private message with all of your contact details. I was told that there is a new offering being prepared now for several Sandridge, Chesapeake and Newfield wells. Devon is also in the process of proposing some new wells as well.
I'm going to contact (Screaming Eagle). The land management firm that he uses (http://www.sovnr.com/) would be able to access all existing well logs, production reports and asses a value of the leases per acre, along with potential resource value. He (Screaming Eagle) has raised and invested over 10 million in (SIOR). Brought in Devon Energy as a partner and drilled 5 initial new horizontal wells and are getting ready to drill 10 more. The financials are now getting done and re-listing of the company stock is set for late spring. This is his cup of tea if everything checks out.
Initially what excites me is the shallow formation. This can be drilled with air and drilled quickly and inexpensively. These could be low cost, high rate of return wells. I think field development could be done with 10 acre well spacing. This could just be lacking some capital and proven management. The capital is out there for good proven, money making projects.
I agree.. The 400,000 in debt is nothing for what could be a viable oil and gas company. I wouldn't be afraid of a couple million in debt to be honest. I'm a former petroleum engineer (Retired now) and I directly invest in oil and gas wells. I will check out the validity of their leases. Give me a few days to work on it. The investment group that I participate in is headed by a gentleman who has built two E&P Companies from scratch to multi-billion dollar enterprise values. If this is legit I will present my findings to him.
If this offers legitimate upside. I know just the guy who could inject millions into this company. I have not had any luck finding a company website. Does one exist?
Been looking for something new. Is this actually a operating company with real assets? Does it just need some private investment capital infused?
All I know is I was told that the process has started. I don't know what that means or how far along it is or anything else. Sorry.
He is making things happen now. There is action everywhere.
Word on the street is that the auditors have been paid and the audit is done.
LOL! High oil prices will be back my friend. Way before you know it. Plus under Superiors business model it is all about adding production with no debt or even company expense. Plus production is hedged. I think we are golden!!
No thanks is needed. I hope I have helped many here along the way. I remember when SE posted here and said that we must stand together and do what we can to help the company. Many scoffed at that idea. A few like you, JRT, JBeach and many others stepped up to the plate and we all did what we could do. Now we have the makings of an oil company. We have a lot to be proud of, but the journey has just started. I heard that SE wants to have us in every core area in Oklahoma. That's exciting stuff! I think Dan is on board with it as well. This is big stuff for a little company. We are now running with the big dogs!
I don't know how any of that stuff works. I do know that on the last day it traded I saw .08 listed on my L2. The float is bought up as far as I'm concerned, so this could really run.
This company has a tremendous amount of upside potential. Their exposure is continuing to grow every day. SE always said, "They are in the right place at the right time with the right people". This has been proven to be correct!
Recently I have been told by others who invested in the wells that Dan Lloyd is working very hard at developing this company. I have not spoke to Mr. Lloyd for a few weeks.
I think you will find that SE has contributed much to the success of the company to this point. He knows what it takes and has a reputation for getting things done. I hope that Dan buys into SE's vision. If he does, we are golden! This is one you buy on the relist and let it ride for a few years. I hear all kinds of rumblings and bits and pieces from other investors. It all sounds good to me!
I am more excited about Superior than I ever have been!!
Production is hedged at 94.00 per barrel. Im happy with that.
You are right. It will all be about getting the word out as much as possible! That will be critical!
I agree with that. I think we could head to .50 pretty quickly. I just don't know how long it will take to get through the process. I'm very excited.
I'm thankful for the same "so called expert"!!! Well, I know he wants to build something big here. He see's the opportunity as do most of us. One thing you can say is he is not a quitter. He will keep coming after the prize until he gets it.
One fact remains. Superior has the opportunity to be built into something very special. I hope Dan Lloyd fully understands that and allows the thoroughbred to run. Dan just needs to climb on the back of that horse and ride him to victory.
I too mean no offense to anyone.. Here is my explanation.
I totally understand your position and your feelings. I too am a very large stockholder, just a tad over 7 million shares. I'm also invested in four Devon wells that Superior got a free carry on. I have been on this rollercoaster ride for several years. I have spoken directly with Dan Lloyd and all the other company officers on several occasions. There have been times I would have liked to kick Dan Lloyds A$$ and there are times that I would have shook his hand. There are times that I have been extremely high and extremely low. There are several BIG investors involved here that have long term vision and a very successful track record of building companies and a couple gentleman in particular who have built multi-billion dollar E&P companies from scratch SEVERAL times. So, you see how I can be excited by that fact alone. I'm then notified about all the new developments happening within the company and how new opportunities are presenting themselves all the time. It's hard for me to not get excited about this.
It's hard for me not to get excited and mad when posters come here and make references about our "so called experts." Let me make one statement that is of fact! Superior Oil and Gas Company would not exist today without the efforts of our "so called experts." To give you some idea about what our "so called experts" have done for the company. They have paid down debt that was threatening to bankrupt the company, they have settled lawsuits, they have raised millions of dollars in investment capital to move Superior ahead, they have gone to court and fought Devon Energy (and won!) when Devon tried to walk all over little Superior. Devon got an education about who they were messing with! These "so called experts" reached into their own pockets to save and push this company ahead. IT WOULD HAVE BEEN VERY EASY FOR THEM TO FILE FOR BANKRUPTSY AND WALK AWAY!!! THEY DID NOT DO THAT!! THEY DID NOT TAKE THE EASY WAY OUT!! The actions of the "so called experts" are going to allow all of the common stockholders to profit greatly!
I get upset when people who have none to very little working knowledge of Superiors internals say: They never back up what they say. Well, I get that. That was the old management team. I will say this. I was told by Dan Lloyd just how the plan was to unfold and it has unfolded exactly they way he said it would. The next step is the stock re-list. I know they are working on it and I know it will happen. They reason for delay was that revenue from Devon was held up for seven additional months. Once again the "so called experts" reached into their own pockets to get the party started.
I get it, people are skeptical and rightly so. Every investor should have a level of skepticism about any investment. It is your choice to take what I or anyone else say's as fact or fiction. I can say to date, my reporting and conjecture as been very accurate.
As far as progress reports or press releases. Could you tell me what has happened since Section 23 was drilled? Ok, I'll tell you. Nothing has happened. Nothing to report in a press release. The next batch of wells to be drilled are just now being put together.
I would like to thank all of the "so called experts" for everything that they have done.
I don't mind some stock being issued for anything that created more value for the company. I doubt it will be the same, but I don't think we will have any big surprises either.
I agree with you! It seems that word is out that Superior is being active in the play and the big dogs are coming to Superior offering them deals to participate. It's pretty darn exciting from where I'm standing.
Mark this post...
Superior WILL be trading before Fly Fisherman's date listed in his post.
Didn't I see an offer to purchase your shares here at one time? I believe the offer was made and you went fly fishing for a while and did not respond to the prospective buyer. May I ask why??
I WILL continue to post Superiors company activity for all shareholders to see. Sorry that you take offense to the company being developed.
As I understand it Superior can farm into over 250,000 acres with operators such as Devon, Newfield, Slawson, Sandridge, Chesapeake, Redfork and Continental. There is no shortage of deal flow as I can see. This is why SE loves forced pooling. Let those guys lease up the acreage, do the land work, do the seismic work, the petro physical and geological work, after their done and it's proven then Superior goes in and participates for only the well and land cost, nothing else.
I think these hands are better than allstate! LOL!
Patience my friends! It's all being taken care of! It's in good hands!
This story is far from over! Seems as if the right moves are being made here. It's going to be fun to be a part of it.
I was just told by another Gushers Club member that Superior is now participating in wells drilled by Sandridge Energy and Chesapeake Energy in Garfield Counties, Oklahoma. Also Newfield Exploration in Kingfisher County, Oklahoma. This is music to my ears!
From King Zulu:
No. Tho Gulfport is doing really good I was offered more pay and 7&7 home every night with a small company called Linc Energy. Not as secure as Gulfport but if illy got my dream job of 7&7 home every night.
I too still have all my stock in SIOR and hoping it will come around so I can fully retire and just ride my harley around the country. When I dream I dream big. Hahahaha.
King Zulu, are you still working for SE's former creation?
I'm still clinging to the dream that Dan Lloyd would allow SE to build another Gulfport! I would love to see a 40.00 per share stock price here!
Are there any new developments that we should know about?
You're welcome. I have been on this rollercoaster ride for awhile now. I've gone from extremely optimistic to somewhat negative at times. I have always tried to keep looking at the big picture out there. When I look at it today, there are a lot more positives now than two years ago. I think it is important to look at the facts as we know them to be. Sure the stock is de-listed and that I'm not happy about. I also know things did not go as quickly as Superior had hoped. One thing is for certain, things are moving ahead and I have never heard anyone from the company say that re-listing was never going to happen. They have always made a point to say that it would happen. I for one do believe them.
Think what you want. Think what you will. There are reasons for everything. I assure you that there is a plan here and it is in motion and it is being executed.
Just remember the following.
1) Many here said Superior did not have any leases. Well we now know these people were wrong.
2) Many here said Superior did not have a deal with Devon Energy. Well we all know these people were wrong.
3) Many here said Superior could not possibly drill new wells. The common chant was, "They have no money." Well we all know these people were wrong.
4) Not only did Superior participate in 1 well in 2013, but they participated in 5 wells.
5) Not only did the participate in 5 wells in 2013, but they will participate in at least 5 more and possibly as many as 8 new wells in 2014.
6) Believe it or not, there are good people here who are involved in this company who are doing their best to make it successful. Fly Fisherman likes to mock the oil professionals here as if nothing has taken place. Well, that is a joke! I just listed what our oil professionals have done. This company could have been and should have been bankrupted and left for dead. It wasn't! It was saved by our oil professionals! The stock re-list will be next on the agenda. Thank you SE for everything that you have done. Because without you I think we would not have a company, much less stand a chance of profiting greatly.
The fly in the ointment was the division orders were held up for about 6 months longer than originally planned on for a whole host of different reasons. Has it been perfect? Nope! Have I been critical of Prickly Pear at times? I sure have. Has there been progress made? Yup! Is the company better off than it was in 2011? Yup! Will the individual stockholders benefit from these actions? Yup! The bottom line is Superior is in better shape than it ever has been.
THIS IS GOING TO RE-LIST!! It is in their best interest to re-list!!
THIS WILL RE-LIST! TAKE IT TO THE BANK!