maybe the second time around we`ll make out better (after all the oil is still there)
Re: Wow we missed it 16-Jun-11 11:50 pm
Mr. Neely went on to state that the Dragon is purchasing 40% of the Land Co. lease in Caddo Pine Island. The reason is dragon will receive current cash flow from the ongoing production. The second reason the Board has moved in this direction is that the first well being drilled will be the Land Co. #14 well and to do some work over which should increase the daily production. Management is hoping that the Land Co. lease will cover 25-30% of Dragons overhead. The Land Co. has been producing on average high 40,000 to the low 50,000 dollars a month. We are hoping that the new well and minor rework can have the production up to over $100,000 a month. The third reason is by acquiring our 40% working interest we will save around $70,000 in tanks & separator
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**BDGR**
Oil Wells less that 1000ft. Deep will yield BDGR up to $7.2MM Annually!
BDGR Gapping Already Pre-Market!
Black Dragon to Close on Participation in Humble Project
**BDGR** is sitting on a goldmine and we found it. To be honest its known to be the largest black gold mine field in the USA and quite possibly in the World!! We got the facts and data below so make sure you read this ENTIRE email:
BDGR could be worth 25cents or more right now however its trading dirt cheap at only 4cents on major volume.
Members whats key is the recent press release that BDGR is taking over 640 acres of the Haynesville Shale! Click HERE to view!!
Here is the PROOF that BDGR stands to be a major player in the Oil and Gas Industry:
The Haynesville Shale is a massive natural gas deposit in northern Louisiana. Early estimates suggest the shale may
hold as much as 200 trillion cubic feet of natural gas, or the
equivalent of 33 Billion barrels of crude oil.
The Haynesville Shale was discovered by Chesapeake Engery (CHK), who began devoting substantial resources to exploration in 2005 after having gotten in late to the Barnett Shale.
640 Acre Lease in Caddo-Pine Island With Haynesville Shale Royalty
BDGR is taking over and Getting the Rights too:
Here’s the Mind Blowing Facts about this Acreage and why some of the LARGEST NYSE *Stocks* are Drilling there RIGHT NOW!!!
Goodrich Petroleum and Chesapeake Energy Announce Joint Venture in Haynesville Shale in North Louisiana
HOUSTON & OKLAHOMA CITY--(Business Wire)--
Goodrich Petroleum Corporation (NYSE:GDP) and Chesapeake Energy
Corporation (NYSE:CHK) today announced they have entered into a joint
venture to develop Goodrich's Haynesville Shale acreage in the
Bethany-Longstreet and Longwood fields of Caddo and DeSoto Parishes,
Louisiana.
Subject to customary due diligence, Chesapeake has agreed to pay
Goodrich approximately $178 million for the deep rights to
approximately 10,250 net acres of oil and natural gas leasehold
comprised of a 20% working interest in approximately 25,000 net acres
in the Bethany-Longstreet field and a 50% working interest in
approximately 10,500 net acres in the Longwood field. Chesapeake has
also agreed to purchase 7,500 net acres of deep rights in the
Bethany-Longstreet field from a third party, bringing the ownership
interest in the deep rights in both fields after closing to 50% each
for Goodrich and Chesapeake. Chesapeake will be the operator of the
joint venture for the Haynesville Shale development
Chesapeake Energy Corporation Provides Update on Haynesville Shale Activities
OKLAHOMA CITY--
Chesapeake Energy Corporation (NYSE:CHK) today provided an update on
its activities in its significant Haynesville Shale discovery in
Northwest Louisiana and East Texas. In the past month, the company has
successfully completed two additional horizontal wells in the play at
flow rates comparable to its first four horizontal wells and the
company anticipates completing two more horizontal wells by the end of
June. The company now owns or has commitments for approximately
500,000 net acres of leasehold in the Haynesville Shale and has
achieved its initial leasehold ownership goal. As a result of ongoing
drilling success in the play, the company has elected to continue its
leasehold acquisition efforts. Chesapeake is currently using five
operated rigs to further develop its Haynesville Shale leaseholdManagement Comments
Aubrey K. McClendon, Chesapeake's Chief Executive Officer,
commented, "We are pleased to report further success in our
Haynesville Shale discovery. Our technical analysis of the play over
the past two years combined with the impressive drilling results on
our first six horizontal wells and wells recently drilled by others in
the industry continue to support our assessment that the Haynesville
Shale play could potentially have a larger impact on the company than
any other play in which we have participated to date. We plan to
accelerate our drilling activity in the play to generate substantial
production growth and capture outstanding financial returns available
in the current attractive natural gas price environment."
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