UnionTown Energy Inc.(fka UTOG)

[bruce4653]

It is 10% of NET income. Take the revenue from 30 bbls/day for however many days you select and subtract the expenses for that same number of days and that will give you NET income for well #1. UTOG receives 10% of that amount. Do the same calculation for each new well.
The value of the UTOG stock will not be determined by revenue generated from the New Miami wells. That revenue however, will insure continuity of operations and provide cash for new leases and drilling on them. THAT will add value to the stock along with the 48% ownership in NXP.