Archie's Corner

[rpt]

UNDERSTAND THIS: On OLYRF

OLYMPIC gets INSTANT revenue from Royale's well that is producing! so when you read:


The terms of the participation agreement provide Olympic with an 8.3%
working interest and 6.53% net revenue interest. The pooled unit includes
approximately 120 acres of Olympic's East Corning property. The well was
put into initial production in November, 2001.
Olympic holds a 32% working interest in the East Corning Project in
Tehema County California. The East Corning project consists of 6,500 acres
in oil and gas leases and over 25 miles of 2D seismic data.

KNOW that we have an interset in a large find BUT, Royale proved part of the 6500 acres that OLY owns 32% of.

READ, instant revenue and the proving of OLY's lease. It cost OLY 120 acres of 6500, I'd do that in a heartbeat.