The effective date of the above transaction was June 1, 2006. At June 1, 2006, there were 14 producing wells. As of February 5, 2007, 21 wells are on production, one well is drilling, and one well is awaiting completion. For the quarter ended December 31, 2006, net production to the Ignis Barnett Shale, LLC averaged 92 bopd and 722 mcfpd of gas. Cumulative gross production through September 2006 from Osborn’s Barnett wells has been in excess of 460,000 barrels and 1.7 bcf of gas. Ignis Barnett Shale, LLC also derives revenue from joint ownership in a 26-mile gas gathering and treating system that transmits a processes third- party gas in the area. Our goal is to continue to expand this system to service not only our wells, but additional third parties, as well. Three of our wells have been horizontally drilled, and only one of those is on production. Our plan calls for the drilling of 3 vertical and 8 horizontal wells in 2007.
Market Data 
Markets 
AI
