Replies to post #10074 on Mondial Ventures Inc (MNVN)

[elkonig]

Mondial cant even finalize the original deal with those Canadian owners/fraudsters. Its been extended three or four times now. No oil wells being drilled yet and there never will be.
Same old song and dance from Dennis Alexander.

[crude-dude]

That report is totally BS and I don't know why the company would even float it out since it is so easily dispelled.
The Sand Hills Field is totally different from the Crawar field in which Boomerang has an interest. The geology is different, productive zones are different. To me it equates with "Boomerang's Drilling Prospect Located in Top Oil Producing Planet in Our Solar System"
SAND HILLS (TUBB) was discovered in Crane County in 1930 and is encountered at a depth of 4500 feet and contains 35 gravity oil.
Crawar (TUBB) was discovered in Ward County in 1955 and is encountered at a depth of 4650 feet and contains 39.4 gravity oil.
The Ellenburger formation is encountered 2500 feet deeper in Cawar field than it is in Sand Hills.
Now the part about public records reveal. The statement "Public Records reveal an average production rate of 200 to 240+ barrels of oil per day (gross
revenue interests) for certain Ellenburger wells on properties adjacent to Boomerang’s South 40
acreage that are currently owned by Chevron, BP and McCulloch Oil Corp. of California."
is easy enough to check out since it is public record. I will tell you this much. The statement may have been true in 1970 but not today. McCulloch Oil hasn't been in business since 1977. BP hasn't produced a drop of Permian Basin oil since 2010. Cheveron's Ellenburger well that was drilled within a quarter mile of Boomerangs interest is currently producing 2 barrels of oil per day after a recompletion. The Ellenburger was abandoned in this well. There are ZERO producing wells remaining in the Crawar Field Ellenburger formation. In fact, there was an Ellenburger well drilled on Success Oils lease (before they owned it) and it was unsuccessful. The document is publicly available online for all to see.
Oh and the final sentence: "Success Oil Co., anticipates drilling a series of wells on the Ellenburger property. Each well is expected to cost $ 1,675,000 USD and a total of 15 wells could potentially be drilled on this property"
The Texas Railroad Commission would laugh hysterically due to spacing regulations. 40 acres for shallow and 80 acres for deep in this area. Wells in this area are not economic so I suspect if certain individuals were to get their hands on $1.675 million, they certainly wouldn't waste it on drilling this prospect. Well... at least I believe they are smarter than their PR's.