Replies to post #469 on Armada Oil Inc (fka AOILQ)

[cleverrox]

The 8-K says they are buying the land from Piqua Petro.

Piqua Petro has filed their production with the state of Kansas:

http://chasm.kgs.ku.edu/apex/oil.ogop4.OpPage?f_id=1028002442

In 2013 they produced 71,428 barrels of oil from 235 wells. That is an average of 0.83 bpd per well. There is no gas production from these wells. Based on the bpd and the absence of gas we can infer they are shallow low cost vertical wells.

Piqua Petro is producing 303 bpd in 2013. Armada bought 80 bpd of that.

Let's look at a list of Piqua's wells:

http://chasm.kgs.ku.edu/apex/oil.ogl5.OpLeases?f_id=1028002442

The list shows mostly wells with 20-40 year lifespan - so these wells are long lived.

I'm too lazy at the moment to dig into the initial production numbers for each well - but I'm betting you could use KS system to get that.