I added the link/snippet.
re:
The following table sets forth the net quantities of crude oil that we produced during:
2008 Oil (BBL) 26,299
2007 Oil (BBL) 7,006
2006 Oil (BBL) 6,600
I used to track TIV production in a very detailed way as the table in the ibox shows. I showed the production in their then-producing wells, including the production from those wells in years before TIV owned them.
That shows a more level average production over the years than in your quote above. Sure, TIV bought Temblor which bumped up TIV production from 6000-7000 bbls per year to 26,000, but the actual production from those properties stayed pretty level.
(Where is Temblor production now, geoscience have you checked lately? I haven't but I can.)
Factor in what it cost TIV to buy those wells, operate them, retrofit some of them etc (millions of dollars) and it was a losing proposition.
JMHO
jonesie
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
