Replies to post #7532 on Worthington Energy, Inc. (fka WGASQ)

[Norton1973]

Yes, Tony Mason is not a bs'er, he answers all, with an honest response, i appreciate that.

[xZx]

WGAS - $26M in possible financing:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78734114

how many boepd would we need in order to pay off all $26M in a year?

here's what 1,000 boedp would do for us:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78928042

and that means $18,250 per barrel per year, so to eliminate the remaining debt, we would need 425 more barrels of oil per day.

let's add this up. to erase the new debt listed in the 10Q, which means convertible refinancing, plus the cost of d-bar, purchase and working capital, drilling expenses for VM-179... the south texas leases purchase, plus south texas drilling costs -- ALL of that...

we could pay it off in one year with 1,425 boepd.

this sounds easy enough to me, given the scale of these assets. then we'd be bringing in pure profit after that.

and -- keep in mind my figures are net, not gross, based on tossing out 50% of all production as costs of operations. higher margins than 50% means we pay it off even faster. this means if oil goes above $100 a barrel, since our costs are fixed, that all goes to the bottom line.