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Re: Adirondacker post# 1139

Thursday, 04/30/2009 7:55:35 PM

Thursday, April 30, 2009 7:55:35 PM

Post# of 3850
Those low volume nat gas wells are literally worthless now that nat-gas is well under $4, the value of some of these small time properties goes negative , here is an 8K filed by Vortex , they leased wells from UERI , same place , same deal VYEY is working , here is what they say about the crockett gas wells at these levels:

Due to current issues in the development of the oil and gas project in Crockett County, Texas, the board obtained a current reserve report for the Company’s interest in Davy Crockett Gas Company, LLC (“DCG”) and Vortex Ocean One, LLC ("Vortex One"), which report indicated that the DCG properties as being negative in value.

http://idea.sec.gov/Archives/edgar/data/905428/000114420409014348/v143012_8k.htm

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