Strategic Asset Leasing Inc (fka LEAS)

[DrHarleyboy]

Posted by: Harleyboy Date: Friday, August 01, 2008 2:57:44 AM
In reply to: Mariner* who wrote msg# 4065 Post # of 4408

"Based on projections done by the former operator of the property, we estimate that the three wells combined could generate over $525,000 within 36 months based on gas production alone. We would hope to double or triple that number if we find oil along with the gas."

Now from the latest PR.....

"The well encountered a good show of oil and gas at 440 feet and a second zone at 510 feet. The well was logged and appears to have a 25-foot thick formation with the potential presence of hydrocarbons from approximately 430 feet to 445 feet. The log also suggests that the second zone has hydrocarbons from approximately 515 feet to 520 feet. The company has immediately elected to move on to completion of the well and will begin the process of putting the well into commercial production."

Thar she blows folks...now, think about it, how many wells are they looking to drill....60+ ?? $1 million low ball estimate for 3 wells, if even 15 are drilled, that's a possible $5 million...if 50 wells are drilled, that's closer to $15-20 million.

GLTA

Harley