petro resources very bullish on east chalkely, page-4

Go to Petro Resources Web site in the U.S. and click to Investor Relations. They have a page with Presentations and have just put up this weekend a presentation on a major acquisition and which also covers very bullish commentary on East Chalkely.

Assuming a flow rate of 400 bpd then TEX will get 100 bpd @ US$100 per barrel = US$10,000 pd / US$300,000 pm / US$900,000 p qtr./ US$3,600,00 per year. This project also involves the drilling of at least one more production well so u may double the above estimate (assuming both wells produce 400 bpd). This type of cash flow (currently around US$150,000 per month) will have a very bullish impact (to US$450,000-US$750,000 p m) on TEX ability to drill more wells. Hoping my guesstimate pans out, good luck to all longs.