Ann: Wilcox Update - Heintschel 1 flows gas on in, page-18

re: Ann: Wilcox Update - Heintschel 1 flows g...

If pointing out the facts is classed as pessimistic, then what is it called when you make stuff up out of thin air?

lets be realistic about H1 well, its allready been said its EUR is about 30bcf, lets assume the perpotion of oil is the same at 200,000 bbl oil

thats a total EUR of $30mil after royaltys and splitting profits with the JV

Burleson IS going to dilute your shares very soon with a huge cap raising (there is no other way forward if they dont), just to raise $5mil means they are going to create another 50% more shares, slashing your holdings by 1/3rd

thats then 300mil in the registry

$30mil profit from this well / 300mil shares = 10c per share of profit this well will make you, over the life of the well which could be over 10 years.

Thats the gods honest truth.

It makes me angry that Burleson can put out an ann describing a rollercoaster and that H1 makes up for the loss of M1


Joanne is at best half the size of H1, Brashers is a joke making a few hundred dollars a day.

and at best, all they can do now is break even with the running costs of the office

remember, for a company to make money, you have to actually make money. If you think that makes me a pesimist, good luck!