A previous valuation post I made had a total of 3,000 barrels of oil per day (Bopd). As I have explained in some previous posts, it was thought that one of the ZLUS properties can produce 60 wells. If each well generates 50 Bopd, that would equate to 3,000 Bopd (60 wells x 50 Bopd). I think this would be a more conservative approach and expectation for achieving 3,000 Bopd versus the odds of such coming from a small few wells.
Even though some companies have achieved such from a small amount of wells from the same area where our ZLUS wells are located, I think it would be fair to remain conservative as a worst case scenario and expect wells producing 50 to 100 Bopd. Such amounts would still be better than fine for us ZLUS shareholders as explained within the valuation posts above.
I think ZLUS getting this first well drilled under their belt is huge, especially considering that production is expected to begin by the end of the month of Jan 2011. I think the odds are in our favor that ZLUS will prove to be an awesome investment for us all.