Ann: Quarterly Activities and Cash Flow Report , page-2

re: Ann: Quarterly Activities and Cash Flow R... ?Abita discovery well, SL 19706 #1, commenced producing from the 30 sand on 18 March 2012 with initial production being brought on stream at ~900 MCFD and 25 BCD with no water and flowing tubing pressure of 2,995 psi on a 6/64 inch choke. Recoverable resources estimated at 350,000-700,000 barrels oil and 8 BCF gas with additional upside.
?Dugas & Leblanc #3 is presently producing at 305 bopd and 800 mcfg per day (representing net monthly revenue of US$250,000 after costs).
?Vermilion River currently setting casing at 14,300ft. Vermilion is a high impact prospect Project targeting 110 BCFG & 3.3 million barrels condensate, up to 185 BCF and 5.5 MMBC
?New acquisition of Austin Bayou, a low risk development prospect. Location completed, due to spud first week of May.
?New acquisition of world class Pintail, a high reward company making prospect, due to spud 4th quarter 2012.


income for the Qt $1,025,000

left in the bank $4,926,000

next Qt spend $2,870,000


Very positive
why they waited for after close who knows

Money1