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Re: dhjr123 post# 8423

Monday, 04/09/2012 12:37:25 AM

Monday, April 09, 2012 12:37:25 AM

Post# of 67190
"it has 12,5000,000 barrel of oil and at lets say $90.00 a barrel. Egoh gets 75% thats $67 a barrel times $837,500,000 lets say the get a partner for 50% that still $418,750,000. That is a lot of money."

Did it ever occur to you to figure in the expenses of paying off the fines, getting the wells tested and repaired, along with a thousand and one other expenses. These old fields may have some oil left, but it is much more expensive to get what's left. That's why they abandoned them. Oil may have been cheaper when they abandoned them, but it's also much more expensive now to get the oil out.

If it was as easy as you think, why are the big companies not jumping on these old wells?

Wilmot is only using them to scam investors.

All that is necessary for the triumph of evil is that good men do nothing. (Edmund Burke)

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