OMDA Oil and Gas, Inc. (OOAG)

[roxandbonz]

A little geology about domes.
It is almost impossible to determine the reserve of a dome well. Most of of the new holes today will not pay out. The sands that were turned up by the plug, moving toward the surface, become many resivoirs. Most of them are very small in the number of acres they cover. This is why soooo many marginal wells can be drilled on a dome. Just go to a map of Anderson county denoting all the wells drilled and you can see for yourself. A ton of wells producing less than 5000 bls. are the norm.
One good thing about having leases on a dome is it is a promoters paradice. Hard to have a dry hole when drilling on structure. A hell of a pR follows the completion. Everyone jumps for joy, High fives each other.....then in a week or so there is another AFE going out to the working interest owners asking for money to pay for a pumping unit, workover rig, rods, pump, electrical hook up, supervisor time.....and on and on and on. This is because the well has died and the BHP has go to nada.
LOLOLOLOL Anderson county has bazillions of BBLs of oil under the surface. A couple of questions... where would one drill? How deep? What would be the rate of return for the well drilled.