I like this part, and want MORE!!! I wonder what they expect the producing life to be? Only 1500 feet, pretty cheap wells to drill, IMO.
The Company has also announced an update of its current drilling operations in Kansas. The Company has drilled its first two Coal Bed Methane gas wells in Montgomery County, Kansas. The two wells, the Edds South "27" #1 and the Allee "27" #1, were drilled to a depth of approximately 1,500 feet, wherein both wells penetrated a number of potentially productive coal seams. Based on logs, the Company has set 4 1/2" production casing, and completion operations for both wells have begun. The Company believes these wells should be capable of producing in commercial quantities and expects them to be connected to a sales line within the next month.
Cash is King until further notice!!!
My comments on companies are usually my opinion of long term success (years). The PPS may go up or down greatly in the meantime depending on the number of greedy suckers with money.
