Friday, August 29, 2014 9:56:50 AM
News Release - Name of Wells - Production
July 31 2014 - Craig 1,2,3 - 240bopd @ 21.5% and 10% = 41bopd
June 12 2014 - Macneil 2,3 - 60 - 70bopd @ 21.5% = 13 - 15bopd
June 12 2014 - Parker 1,2,3,4 - 130bopd @ 10% = 13bopd
April 1 2014(MD&A) - 9 Fayette wells - 120 - 130bopd @ 75% = 90 - 98bopd
Aug 28 2014(MD&A) - Dale well - 25bopd @ 18% = 4.5bopd - Put into production in April but numbers unknown until now
April 1 2014(website) - Roundtree - 15bopd @ 12.5% = 2bopd (29% at payout 2015)
April 1 2014(website) - Miller 1 - 15bopd @ 4% = 1bopd(18% at payout)
Wells Being worked on:
Barnum 2 - Salt water dispoal well being put in. Will be producing shortly
Seale(New area) - Approved by Mississippi, waiting to be drilled
Several other wells are to be drilled between now and year end. Q1 pay outs will only affect half of that quarter given the timing, but current production above will be fully implemented in Q2 since that started August 1st 2014.
Daily revenue estimated calculation using Brent pricing at only $100 per barrel
Macneil(13-15) + Parker(13) + Craig(41) + Fayette(90) + Roundtree(2) + Miller(1) + Dale(4.5) = 164.5 to 166.5 bopd. Lets calculate that with the lower number and LLS prices at $95 per barrel.
164.5bopd X $95 per barrel = $15,627 X 90 days(Q2) = $1.4 million in oil and gas revenue for Q2. Then add between $150,000 to $200,000 in management fees. Q1 will be good but Q2 will show the full impact of current production.
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