re: hmmmm-correction $300,000 pa The report stated below, as I see it CPC gets 30% of
600x $5 or approx $1000 us/day for a $15,000 once only cost. This computes to approx $300,000 -$365,000/year .-a nice little eaener
Plenty of more wells to come
"The well was successfully perforated and fraced in the Petitt reservoir in the Harris well
at the Jefferson-Mcleod Project in North East Texas. The well is now producing at a rate
of 600 mcf equivalent per day (1mcf = one thousand cubic feet). Prior to the recompletion
this well was producing at a rate of 70 mcf equivalent per day.
The well is connected to a pipeline and the gas is being sold.
Carpenter Pacific has a 30% interest in this well. At the current prices for gas of US$6
per mcf, this well will net greater than US$5 per mcf after operating costs. Carpenter
Pacific’s share of the re-completion cost was approximately US$15,000."
CPC
carpenter pacific resources limited
hmmmm, page-8
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