Eldorado Exploration Inc (fka EDEP)

[kingman]

If you look at the production of the successful wells in this area of Ill. they are not massive producers. Maybe a few hundred a day on the really good ones to start. They key is you can drill a lot very fast and cheaply. We are not going to make a lot of money on 5% of this well but if you do a dozen very fast and they have a 80%+ % success rate then our PIP becomes a viable tool that we can get money up front and a percentage . Now if you have several outfits using it and they drill 20 wells in a quarter that are successful you have up front cash and the equivalent output of 1 well all yours. Even 20 wells producing 100 bbls a day is 100 bbls a day in our pocket and at 35 a bbl is a million a year plus fees to use pip. This is only Illinois the trick is to get it used in Nebraska , ND , Texas and everywhere else as a respected tool that can increase the percentages to drill a well and be successful .