Black Dragon Resource Companies Inc (BDGR)

[cameraturret]

For those of you who don't want to stay confused by FastB and Localoil, or even myself. Here it is from Schlumberger Oilfeild.

working interest
1. n. [Oil and Gas Business] ID: 11468

A percentage of ownership in an oil and gas lease granting its owner the right to explore, drill and produce oil and gas from a tract of property. Working interest owners are obligated to pay a corresponding percentage of the cost of leasing, drilling, producing and operating a well or unit. After royalties are paid, the working interest also entitles its owner to share in production revenues with other working interest owners, based on the percentage of working interest owned.

net revenue interest
1. n. [Oil and Gas Business] ID: 11429

A share of production after all burdens, such as royalty and overriding royalty, have been deducted from the working interest. It is the percentage of production that each party actually receives.

Look at the last sentence of each description.

Net revenue interest is the percentage of the revenue that one recieves. Working interest is the percentage. If you have a WI of 50%, then you have an NRI of 50%. If you have a 2% WI, then you have a 2% NRI. The important thing is not the percentage of the NRI or WI, but what percentage of the total output is the working interest which again will match exactly the percentage of the NRI.

Lou

BTW - the pool was great!