Wednesday, June 25, 2008 11:25:15 AM
WELLS DETAIL FOR FEB 08 PRODUCTION (EDITED)
-- Every Temblor well was down in production vs Jan 08
-- The overall increase in Feb oil production vs Jan oil production was due to 2 of the Edison Shields-Arms wells being put back online after being offline for 4 months , with their production being similar to their average 2007 production.
-- All gas wells were down in production month over month except Hanson #3 which was up significantly and Hanson #1 which was the same as Jan.
Per TIV's March 20, 2008 PR "Based on the test production of the Pleasant Valley No. 1 well" it does not appear there was any PV production for February so TIV's oil production figures reported to DOGGR for Feb 08 should be comprehensive.
Similarly , per TIV's March 14,2008 PR "hooked up its newly drilled Moffat Ranch East 48X-7 natural gas well and will begin continuous gas sales Monday" we can conclude that TIV's gas production figures reported to DOGGR for Feb 08 are comprehensive as well.
We already did some guesswork on what PV and Moffat March production might have been by making some calculations based on revenue numbers in the 1Q08 10-Q report and based on TIV's comments about early PV test results and Moffat's run rate.
I suppose we might not know any more about sustained new PV and Moffat production until the 2Q08 10-Q is filed (which should be out around mid-August?) unless the Moffat Ranch East 48X-7 wasn't put on confidential status. I can't remember whether it was or wasn't.
(EDITED TO ADD:) Based on the monthly closing prices of Light Crude Oil per http://www.tfc-charts.w2d.com/chart/CO/M TIV's average monthly oil production revenues (net of estimated OPUS/recovery costs) through February were $43,210 , up 25.5% over their 2007 estimated average oil production revenues.
My tables showing the well details for Feb 08 should be available/posted later today or tomorrow.
JMO and with various calculations based on available but incomplete information.
jonesie
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
-- Every Temblor well was down in production vs Jan 08
-- The overall increase in Feb oil production vs Jan oil production was due to 2 of the Edison Shields-Arms wells being put back online after being offline for 4 months , with their production being similar to their average 2007 production.
-- All gas wells were down in production month over month except Hanson #3 which was up significantly and Hanson #1 which was the same as Jan.
Per TIV's March 20, 2008 PR "Based on the test production of the Pleasant Valley No. 1 well" it does not appear there was any PV production for February so TIV's oil production figures reported to DOGGR for Feb 08 should be comprehensive.
Similarly , per TIV's March 14,2008 PR "hooked up its newly drilled Moffat Ranch East 48X-7 natural gas well and will begin continuous gas sales Monday" we can conclude that TIV's gas production figures reported to DOGGR for Feb 08 are comprehensive as well.
We already did some guesswork on what PV and Moffat March production might have been by making some calculations based on revenue numbers in the 1Q08 10-Q report and based on TIV's comments about early PV test results and Moffat's run rate.
I suppose we might not know any more about sustained new PV and Moffat production until the 2Q08 10-Q is filed (which should be out around mid-August?) unless the Moffat Ranch East 48X-7 wasn't put on confidential status. I can't remember whether it was or wasn't.
(EDITED TO ADD:) Based on the monthly closing prices of Light Crude Oil per http://www.tfc-charts.w2d.com/chart/CO/M TIV's average monthly oil production revenues (net of estimated OPUS/recovery costs) through February were $43,210 , up 25.5% over their 2007 estimated average oil production revenues.
My tables showing the well details for Feb 08 should be available/posted later today or tomorrow.
JMO and with various calculations based on available but incomplete information.
jonesie
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
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