Well put Superhard. I have posed the same question a few times as to how the 2 well production was going to cover all forward costs with absolutely no answer. They either know the answer or simply shouldn't be in oil stocks. The real worry is how many seem to believe that the gross revenue goes straight to the bottom line.
How many months of production before you ended up paying for the 2nd well with the incremental additional production and net operational revenue from the 2nd well.
Buru's example is perfect and with higher potential production rates and probably lower set up costs.
And a duster, while unlikely, would have killed us.
CTP Price at posting:
43.5¢ Sentiment: Buy Disclosure: Held
