Powder River Petroleum International Inc (fka PWDR)

[midwestoginvestor]

Using $50 for oil and $8 for gas, $1.2bil reserves or $564mil PV 10%.
The engineers felt $50 was more in line with the coming year while they felt NG would go back up soon and stayed with the $8. Also more reserves in about 3 months when additional properties audited.

Brookshire to start Thursday or Friday, bad weather has slowed down the project, drilling 3 wells. Having more than one project being drilled at the same time shows a positive step in the right direction.

Goliad to start drilling the last 6 wells around the 1st of Oct, back to back.

Cash flow is just under 1,000 bpde but in a few weeks should be over 1,000 bpde.

A few years ago when starting to look for properties they were using $30-32.

There is about 4 to 5 years left with the agreement with the Asia financier's for additional projects.

Might look into the American Exchange, supposedly per another guest on the show that you only need $50 mil market cap and $4 mil shareholder equity.

This is from the show last night and coincides with the PR this morning.