lowman
"Just got off the phone with Tom...was saying the first well to be drilled is within 1/4 mile of other wells, in a field of hundreds. EDEX interest upon success would equate to approx. $1000 p/day on a $66K investment. Not a bad return."
What your saying is $365,000 a year revenue.....yes not a bad return but their interest is so small they better find a field with multiple wells as $365k per year does not do much for a stock with 138mil shares.
"Was also saying the N.M. zone, if successful, would first produce LNG, for near immediate revenues. Since he has considerable confidence in this zone, a total of 70 other targets exist."
Interesting as Condensate (LNG) cannot be produced unless gas is flowing (the gas pressure is what pushes the condensate to the wellhead). So unless they are going to vent gas into the atmosphere I would have guessed you won't be seeing any revenue until a pipeline is in place. huh
"With the success of 3 wells, the local pipeline company would build the line to them, at pipeline co.'s expense. Not bad, either."
Not exactley that easy either, pipeline co's gets their money back by docking the price of nat gas sold. They dock they market price by .12 to .40 cents per mmcf. So if company thinks they have a large field they would want to build the line themselves and eat the cost as over time the pipeline would pay for itself many times and allows for other gas buyers to offer competing prices for your gas.
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