dirt, I'm looking at your numbers here and it don't add up.
1. The well cost us 50K to get into.
2. If it begins producing at 250bopd than that would be 7,500 per month. At 6% thats 450bopd for us. Multiply that by $70.00, a little lower than oil is now and we lose some other cost along the way, that gives us $31,500 in a month.
This well pays for itself in 2 months. Sorry, thats a pretty BIG deal.
I know there are other costs, the frac for example and I don't have the figures for that and our part, but I think it was around 200K. Still, the well will raise significant funds to help stop the bleeding.
This is a good thing in my book. I don't agree at all with your outlook.
As for other wells in the future, those are a completely different issue and can be discussed in a different thread. But this thread is about this well and your numbers don't add up.
All of the opinions expressed here, inclusive of all my past, present or future post, are mine, and mine alone. The opinions expressed are not a buy or a sell recommendation. Do your own Due Diligence.
