Replies to post #37071 on Xun Energy, Inc. (fka XNRG)

[tonyo524]

As far as poor performance of the #15. That’s a matter of opinion. If you compare it to the many wells drilled in the US that are either dry holes or produce so little that the cost of production exceeds revenue, the 15 looks quite successful

That may be the case in this situation. The one barrel a day may not be enough to cover the overhead of 3 companies. (Vencedor, XNRG, and North East consolidated) Yep don't forget them, since they are the ones who have permitted and drilled Rice 15 according to the State of Pennsylvania!

[Huggy Bear]

Does Vencedor usually require upfront payment for services and then drill?

And is the cost of 167K per well drilled competitive in the industry, i.e. close to industry average?

Thanks.

[Cassandra]

NCEP: Are there any links to show that Vencedor Energy Partners, Inc. (VEP) is a "registered, bonded oil and gas operator in Pennsylvania" and has "successful operations in Texas?" It would certainly be nice to be able to verify both.

Regarding my statement that VEP is “just one guy who uses a PO box as an address,” from what I can tell, that is true given the following:

Brian Ambrose, co-founder of VEP, shows in his LinkedIn profile that he left VEP in May 2014. The VEP website also removed his name and information about that same time.

https://www.linkedin.com/in/brianambrose1

1/9/14 archive:
https://web.archive.org/web/20140109141616/http://vencedorenergy.com/company/company-profile/

Current:
http://vencedorenergy.com/company/company-profile/

VEP co-founder Randy Benton, who was not previously mentioned on VEP's own website and does not have a verifiable background in oil and gas (other than involvement with VEP since co-founding it in 2010) as did Ambrose, seems to be the only one left of the formerly 2-person company. If that is incorrect, please let me know.

https://www.linkedin.com/pub/randy-benton/14/99a/946

http://www.corporationwiki.com/California/Newport-Beach/vencedor-energy-partners/45461664.aspx

Do you know why Ambrose left VEP?

VEP's "corporate headquarters" located at 1048 Irvine Ave, Ste 171, Newport Beach, CA 92660 is a PO box in a very small shipping and mailing store called the "Newport Beach Business Center" affiliated with Fed-Ex:

https://plus.google.com/117449825190852707882/about?gl=us&hl=en

http://www.yelp.com/biz/newport-beach-business-center-newport-beach

According forum explanations by XUN Energy CEO Jerry Mikilajczyk, VEP partnered with Northeastern Consolidated Energy Partners, Inc. (NCEP) which was the actual bonded permitee for the Venangao County Wells. NCEP apparently also oversaw the drilling process on the Rice #15. NCEP President Jon Malis appeared in multiple You Tube videos updating XNRG shareholders as to progress on the Rice #15 well.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=109653422

Does your ID name of "NCEP" and information in your post about working with VEP over the last four years indicate that you are affiliated with NCEP? If so, it would be very helpful to have someone involved in the PA wells participate in the discussion here

[pepeoil]

I can tell you that for $900,000, you can drill about 9 wells there. Someone is marking these up a lot.

[RG]

the 15 looks quite successful

Is 15 still producing Oil and if so at what rate?