how much is ote worth?, page-14

Good post Santoo 2, I agree with most of what you have to say but I think OTE need three more wells going to be come cash postive.

OTE had 18bopd , we can add the two new lakes wells onto this with I think is around 5bopd which gives us 23 bopd, from OTE latest well they should get around 20bopd total 43bopd.

This will give them 43 - 48 bopd, this will only give them around $300000 for the quarter, OTE planned to spend $800,000 for the quarter with another $150000 administration costs I think from memory.

Now we should get the cash from 3200bo that was held in escrow, so lets say average $70bo that will give OTE $224000.

So OTE need to drill three more wells and then reduce overhead costs in the coming months otherwise we will need to raise or borrow more funds

OTE for a company who says they will keep the market informed to a very poor job of this.



DYOR