With energy prices on the rise it could be worth doing your research on IOG.
Summary data:
Currently undertaking a series of 16 well recompletions and work overs in Wyoming USA to the end of 2016 at an estimated cost of just US$35k per well. Processing plant and supply lines all in place and operating currently.
The first 42-4F was completed Sept 1, 2016 and averaged 1100 MCF per day and generated gross revenue of US$100,000 in first month.
Announced today that two rigs have been mobilised to complete the program by the end of 2016 at an estimated cost of just US$35k per well.
Similar successes on the remaining 15 wells could mean around $20m annual gross revenue from a program cost of $560k. Incremental Oil & Gas IOG has a market cap less than $10m.
Also actively assessing new projects.
Speculative so do your own research.
Worth watching
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