Petron Energy II Inc (fka PEII)

[mario3349]

I wish I researched Texas PAST production rates on the wells PEII owns there before. I think ALL of the 29 producible (out of 34 total- 5 are plugged) wells produced about 600 Barrels of oil "A YEAR" in 2012 and less then half that in 2013 until shut down last August. Not a drop has flowed since then out of Texas. The cost to bring them back on line, ie: cleanup and Texas RRC costs of $323,723.00 is more then these wells have produced in MANY years total! A typical MONTHLY production on the fields there was about 0-70 Barrels A MONTH! They are going to have to stimulate the crap out of those wells to get even the 8-10BOD when they were getting that in a month before. Oklahoma better have some oil in the wells Petron Energy II has there because that's the only hope for this thing that I can see. Otherwise we all invested in snowballs in Alaska, IMO.