Good for you jersey. I picked up another 25K but paid .06.
I don't think it is going to matter soon.
I have the following new and old information from DVPC.
First about Egypt. Robert will be back in Canada on Nov.
30th. We can ask him questions then. I have his cell phone
number and he is happy to take calls from investors.
They have apparently lined up the money they need for the first well in Egypt. It will cost a minimum of $9,000,000.
It will be offshore in the water. They are trying to get
lined up with a drill rig now. The second well will also cost $9,000,000+. DVPC is coming up with 11%+ of this amount.
I don't know yet which of the targets they will choose to drill.
The financing to date has come from Robert Salna. He writes the checks. To date he has put in $8,000,000 plus.
On the Wyo.-Colo. Slaterdome Project. Their costs there to
DVPC are $150,000 per well drilled. The total cost is $500,000 each because they are so deep....2,500 ft.
The current drill rig is on site and working today. It will stay there for the next round of drilling and keep drilling as long as weather permits. Having hunted that area, they should be able to keep working thru the freez-up. The mud would cause a problem in the sage brush country they are working in.
The compressor cost $1,000,000 and DVPC paid for $333,000 of that...already done. Again from Robert.
I don't know yet what form these loans to DVPC are taking. Probably it is private financing but will know in a few weeks.
They are preparing to start work on the audited financials in
January. That is the soonest the team of auditors can be there. I estimate it may take them to June but at that time they are planning to uplist to the OTCBB to get on a better exchange.
So Egypt is on the front burner once again. The real value in DVPC right now is in the natural gas production. I calculate that 33% of production coming from Slaterdome is theirs. Currently running at 1MMCF per day (1 million cubic feet per day). So 333K of it is DVPC. This will jump up with the new
compressor to 3.5MMCF per day....again 33% is DVPC's. So a
little more than 1MMCF per day in revenues there.
They are selling the gas thru a local pipeline at a discounted price which will be changing soon as they transfer to a new
major pipeline that serves the metropolitan areas. Their 1MMCF
of natural gas translates into 1,000MCF at say $5 per MCF.
That gives them about $5,000 per day X 30 days or a run rate of $150K per month. That is $1.8M per year and the market cap is $3.5M. Go figure.
