Replies to post #10360 on Eldorado Exploration Inc (fka EDEP)

[Badge714]

Top Hat...I guess I will have to take a back seat to you. I thought I had some good DD about the company but you sure have put me in my place. Thanks for the heads up.

[sal826]

Nice post TOP!!! If anyone wants to view this as a pump, then let them go right ahead. The fact remains, you've done your homework, and have brought forth the real world scenerio IF we hit a productive well/wells.

Its a gamble plain and simple.

[smallfry]

Extremely good, well written post with lots of DD worth reading several times. Many thanks to you for a great post.

[dioblo]

thats why im still here just sad i have no free powder

[rwayne]

Thanks for postings, reconfirms why I invested in EDEX. I must admin the last two days I thought their would be more of a pop in pps. But then drilling to take around 20 days or more I guess will could see pps start to climb in another 10 days or so. I sure wish I had some dry powder. I am dreaming of wet and wild christmas, hope it becomes reality.

GLTA

[zagdad]

TopHat, nice recap, thanks. No one seems to like to add this to at least the bonus list but I will again...there is enough of a chance of hitting oil while going for the gas that they are spending the money and time to go another 1000 feet so I got to like what that does to odds, risk, potential...all good IMO. And the raw potetntial mentioned by Tom more than once is awesome - really equal to the base gas targets potential. I like shooting two to make at least one!

Top, please save my listening to the whole meeting again - what was said in the public meeting about the secondard hunt for oil? Any numbers, confidence factors, etc. mentioned in public or side chats? Maybe past example of old explorations or additional testing supported their interest in going for it? Tom has indicated that PIP can now differentiate between oil and gas.

Thanks, zagdad

[gadawg22]

I was going to go into the sunset, but I could not let your post go. You stated that each well at Hardeman would produce .50 cent to the net value of the company.

"We are currently drilling the Hardeman drill. Success at this one 5% drill should put us at a value at least .30pps.
2. Each subsequent drill at this lease should bring us up .50 or more per well."

According to the last financials, (which all the kool aide drinkers should review - lots of discussion material there) there are 172,000,000 shares outstanding. I have used 175,000,000 in the following scenario.

Each well should bring in .50 to the share price. That would mean each well would produce 87,500,000 in profit. I will be assuming 30 profit per barrel. That would mean that each well will produce 3,000,000 barrels of oil. I was going to use 100 barrels of day for edex which would be that 36,500 barrels a year or a well life of around 82 years. I am going to use 300 barrels a day or 110,000 barrels per year. That will give me a 30 year life for that well. But I forgot one important fact. EDEX will get 20 percent. So for thirty years you will have a well that produces 1500 barrels per day. Wow. I want in on that action.

OPPS. Last time I checked, I think Texas put a cap of I think 253 or 153 barrels per day per well.

Let's say you hit the big one and can only produce 250 barrels per day. We get .20 or 50 barrels per day. 30 * 50 * 365 = 550,000. 550,000/175,000,000 = .003. Wells last for ten years, so each well should give you a increase of 3 cents, provided that the well produces 250 barrels per day and sustains that life for ten years.

You decide whether or not to project the share price at .50 per well or .03. You decide.

Once again, this is my calculation and you should go your own due diligence and not rely on this post.

Sorry to put a damper on the weekend projections.

I will refrain from my Banana 1 calc (Mesa) for the time being, unless posters start posting astronomical numbers.

Forget these projections. They are just assumptions. If I was putiing my life savings in this company, I would look at the financials that were just published (the main reason I got out, along with about 10,000 medical expenses), instead of relying on what Tom says.

If they are removed for some reason (which they have in the past), I made a copy.

Happy investing and look at those financials.