For the record, since September 2010, the company has spewed out numerous press releases for a number of prospects that when tallied up have this breath-taking summary:
Number of wells/prospects = 280
Reserve estimate = 25.840 million barrels of oil, 171 BCF of gas
Value of reserves = $865 million
Acreage = 3,380 acres
Staggering results for the past 3 years from the plethora of news touts noted above:
Proved reserves = $0.7 million
Unproved reserves = $0.6 million
3 wells producing
1 plugged and abandoned
2 wells being completed/worked over - results still pending.
So there you have it, six wells in three years and only a fraction of the revenue touted, and a Company which has only $27,817 in cash and negative working capital of $875,653 and accumulated losses of $9,463,413 since inception.
