"Currently, we are working with our funding source, TCA, to structure our second tranche, which should allow us to put 2 - 4 of our leases into full secondary recovery operations. A second tranche of $500,000 - $1,000,000 should allow us to grow our daily production to 100 - 200 BO/D. Our breakeven is achieved at 100 BO/D." Smith further states, "We feel the execution of our plan of secondary recovery operations should increase oil and natural gas production rates significantly. The company is projecting that this significant growth in oil and natural production should allow it to achieve profitability sometime during the latter part of the 2(nd) quarter 2014."
