Well, here are my numbers from Today's PR...
150 barrels per month from one lease = 5 barrels per day... 18 leases = 90 barrels per day x 105 dollars per barrel = $9450 dollars per day x 90 days per quarter = $850,500 dollars per quarter or $3,402,000 per year in revenue.
Now that's not really that good, imo, and the LaNina and Covenant wells are a wild card here.
I see the CEO is backing off comparison of the 120BPD estimates he has compared those wells to in the past, so I believe he is not expecting huge results anymore.
PEII needs a big well or two, otherwise they will have difficulty covering expenses, imo, and the dilution will continue...
And the story continues...
Here is where I got my numbers... today's PR...
This lease is currently on pace to deliver 150 additional barrels of oil per month. Our management team believes this is just a sample of the type of production performance each lease has the potential to deliver with the complete implementation of our secondary recovery plan.” The company has 18 leases to equip for secondary recovery operations.
