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Friday, July 07, 2006 11:48:37 AM
Based on the calculations of my previous post we would have a stock price of .28 or .29 a share.
carshow...............
Here was the post:
Biogenerics estimates their breakeven on a $200,000 hydro-slotted re-completion to be in the 30 to 60 day range based on several projects like the recently announced Grimes, CA gas well that flowed 14,400 mcf (1 mcf = 1,000 cubic feet) in its first month. At recent gas prices of $10 per mcf, this well produces approximately $140,000 in cash flow per month, of which 40% or nearly $60,000 per month (after payback of hydro-slotting cash outlay) is realized by Biogenerics after royalty payments and expenses.
Prior to the Royal Petroleum announcement, the company's strategy suggested re-completing, and bringing on line 10 new wells per month in 2006. In 2007 the Company expects to double that rate to hydroslotting 20 wells per month.
Based on $10 per mcf gas, and upon each of the forecasted 120 wells completed in 2006 averaging a production rate of 500 mcf/day, in conjunction with alternate wells coming on stream in 2005, the Company is forecasting a daily cash flow run rate of US $240,000 at year-end 2006. This would put the company on an annualized run rate of $87.6 million.
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