Northamerican Energy (NNYR)

[jchristiang]

Why spend $300,000 to drill 1 well when you can workover 5-10 wells (or more) that were proven producers - example: we're looking at an 1900 acre acquisition in New Mexico with 30 wells (1 is currently producing 7 Blpd ls a day) where $300,000, over and above the acquisition cost of $1M cash/stock, might bring many of these wells back on line to the 10 Blpd production these well produced prior to being shut in...Also included in this package is the deep rights where 3 wells drilled in offset leases in the Devonian (9200') and EllenBurger (11,700')shows initial potential of 1555 Mcfpd, 1668 Mcfpd and 4249 Mcfpd (obviously the initial costs of drilling this type of well require a partner)