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DegenerateGambler

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DegenerateGambler

Re: midtieroil post# 272065

Monday, 04/08/2013 3:49:54 PM

Monday, April 08, 2013 3:49:54 PM

Post# of 362662
Middy, You indicate an estimate of $30 mil per well, while African oil indicates their cost per well is about $47mil per well for their 10 well drilling program. I would guess it is a lot cheaper when you are doing 10 wells at a time then spudding only 1 or 2 wells. Therefore, my guesstimate would be over $50 mil for EHRHC's first and second well. What do you think?

Will anything good happen between now and the end of the extension (March 14, 2012) or will the share price continue to decline?

The post above is just my humble opinion and may be TOTALly wrong, however you may find some humor in it.

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