That was a long way of not saying much at all. I honestly appreciate the offer to help me where I've gone wrong in my assumptions but will respectly decline.
Ask yourself this - what is stopping anyone from drilling completing and establishing 60 Wells? Money and luck. What I'm saying is that zlus will need a large supply of both to accomplish this. Since it will take 9 to 18 months to get their money back on this well (here is where my industry knowledge comes in), the time table to drill the remaining 60 Wells is quite large. They might as well say they will be acquiring 200. Both are great but too lofty of goals.
Even with 3d seismic charting and the smartest geologists the odds of hitting a new target are very small. One in four to one in seven or sometimes more. This odds of hitting a completion well in the same proximity of an existing well are much better but the barrels per day will be much lower because it targets the same oil targets. I believe, my opinion, that this well is just one of many completion Wells within a small area. This is misleading to novices for a variety of reasons. We wont know until they tell us what they are able to extract per day. My biggest issue with the company is that they know how much working interest they own and have a good estimate of what it will produce per day. They say they don't quite know and are still working out those details. This also is where my prior experience tells me, without a doubt, that they are lying. The question is why?
My last issue you ignored is that they are not personally drilling the well. If You didn't know much about the process you would miss this detail. They are not the landowner and they are not the contractor or operator. They had no say in how it was selected, drilled, or anything at all. They simply signed on to an existing project and paid their way for the lowest form of interest you can own.
I can also assure you that they would have the well completed and operational if they expected 50 or 100 bbpd like some on here are guessing. Jan 3rd they were moving in completion unit to lay casing. These large production numbers would warrant the crews to work 24 hours a day, very common in any part of the country, for extra money to finish within a matter of days.
They would be losing 4 to 8 k per day at these projection figure by waiting this long.
I understand that private oil projects are different than public ones. I have simply used my backgroung to fill in some on here. Whether you are drilling in Alaska or Arkansas the process is very similar.
Final thought is on the foreclosed Wells they are possibly buying. Really? Anyone and everyone would have snatched these up years ago if they were worth having - provided they don't have some secret connection. The price of oil has been high for some time, touching around 150 a barrel a few years ago. If they made money they wouldn't exist. The bank would have no reason to take back a well if it made money. What is a bank going to do with a well besides sell it? This is just using your head. Finding a good existing well that has been forecslosed would be like finding a needle in a haystack.
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