That would be very good wells. I am not sure why that would now be possible when for 6 months it wasn't while Cressent was owned by KING. That is 25bbls * 6 *365 or 5.5 million a year in production. Based on the wells being that prolific one would assume tehy had to pay KING some X times multiple for Cressent but no details as to the cost of Cressent from KING have been released.
If you look at this historical records of the wells owned by Cressent/Utility Ventures you'll see they never have seen any level of production close to that.
A set of 6 wells with that much production would likely cost 30 million plus to acquire.
I am am not saying it didn't happen but this transaction from the R/M to KING, no activity by Cressent while under the KING umbrella, not even a PR to its sudden sale to FOGC, with no details seems extremely sketchy to me. Considering the group (Mini Me) behind this transaction and their track record makes me expect teh PR to not come true, significant dilution to take place and a lower stock price. That is why I am short and will continue to add on strength. This might go higher first but it will go lower eventaully to the .001 or lower level IMHO.
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