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Friday, July 20, 2012 2:20:58 PM
It doesn't even matter what the amount is at first as this will pop immediately with actual numbers. I have been keeping a keen eye on the Lucy Lee as the St. Helena parish is producing some outstanding numbers for Devon right next door now tapping the same reserve. They made mention that there are others now in the area and we're on of them.
This particular operation fired up at the turn of the year and is now coming to a head, that's why I stated that LHPT will pop way before PDGO as they are just starting out with all the regulatory authorities and permitting where we were 7 months ago.
Either way I'm in both and if the companies are combined like Todd stated, it won't matter anyway, however, our wells are going online now and PDGO hasn't even conducted evaluations yet or assessed anything. There is months of preparation that goes into the actual planning before production and PDGO is in Month 1 and we are going on Month 8 with wells going online.
The Gov. Perry leases are regulated by the Texas RR Commision and the Lucy Lee in LA is regulated by the DNR
I am keeping an eye out and will report anything I find but I do believe Todd will give the report the minute it comes out. He's pretty decent about being transparent even buying LHPT himself on the open market which speaks volumes.
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