Agree and also let's not lose sight of the developments in SEK and the current 2008 spring drilling that is currently under way by HMGP. Confirmed drilling activity, interest and now indication of a deal are working on all fronts for HMGP.
Again and this is my opinion but the business strategy of HMGP is a very specific strategy that has an overall goal of tieing together the SEK and TX actions that are now being validated and confirmed by HMGP in the recent PR's since Decemeber 2007. As each action is completed the potential value of Hemi becomes more and more apparent. And the fact that oil & gas prices are reaching all time highs just enhances that potential value of HMGP.
Next up for HMGP barrel count for the Collins, indication of increased and confirmed proven reserves, additional developments of the upcoming 2 wells (Weseloh and Driskell) to be drilled.
Kels
"Hemi's next two wells, to be drilled near term, are in the Cherry Creek Trend in Woodson County, Kansas. The Weseloh and Driskell virgin leases are in the above Trend and within a 4 mile radius of our 5 producing leases. The Trend area has had more than 25 intent to drill permits filed by other companies, some of which have already become new oil wells on virgin leases, and is a large increase since the latter part of 2007. We have gained confidential new knowledge about several wells production and the large increase in intent to drill permits reflects others have also learned about the oil values in this trend. Our next two new wells will be drilled in close proximity to some of these excellent producing wells of other oil companies.
The results from the completion of the fracing and completion techniques on the Collins lease should give us a barrel count per day to be released before mid-May. Keith Anderson, Hemi CEO, on site during the drilling of this well, said, "Drill cutting samples from pay zones were bleeding oil as I was holding them." Mr Anderson continued to say, "This is not a mature lease and should have production similar to our mature leases in Kansas when they were first drilled. The new completion techniques are vastly improved from the ones used in the early days of this area of southeast Kansas. A strong gas water solution drive is likely to be present in this new oil well and through out this lease. Therefore, the production and the decline curve should be much better than wells drilled on mature leases that have lost most of this drive."
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