Tuesday, April 20, 2010 12:18:03 AM
The wells in the Quita field were drilled by Quita, Inc. in late 1987 thru early 1988 Many were drilled for individual owners, and have never transferred. Most are 2675 ft. to 2725 ft. Several have been transferred a multitude of times, and more interesting is several I have looked at have transferred recently from IRA Oil & Gas, LLC in July 2005 with Glen Kennedy as managing partner to Xtreme Operating Co., LLC in June 2008, again with Glen Kennedy as managing general partner. I strongly suspect that Xtreme is now selling to LHPT with Glen Kennedy as CEO. Just my take so far, and if it is that way, and everything is on the up and up, thats fine but there needs to be transparency. You gotta ask the obvious question..are stockholders lining Kennedy's pockets?
One thing is for certain, all of the wells in this field are accessible. So we will know when the work starts and what is going on.
Also, as of the last RRC update, LHPT has not filed for any kind of license or permit.
I have also gained access to the wellbore completion records, which will give the well test results when the were completed. Very interesting to see how much oil versus water/gas was produced in a 24 hour controlled test when new.
I'll post more as I find out more. And BTW, if anyone can help, or dispute anything I find, please feel free. All this is just my DD, and IMO.
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