200 feet of free oil!!, page-68

matsim

Yes lets first prove up our acreage,
Agree that sooner or later some form of a CR would be needed to continue drilling at the rate TB is hinting at.

For instance if our JV patner comes onboard at FP and we drill 4 wells on 1 eco pad it would allready be about 20mil net to SSN.
Add to that a few more verticals and one more horizontal in the Niobrara and your just about out of cash.

So even if we have 20 wells total in the next 6 to 12 months, we would be out of cash, and still not enough cash flow to sustain a continuing agressive drilling plan.

But By this time or even before this time like you say we might become a very atractive TO target especially if we can prove up and derisk our land.
and also be producing somewhere between 1500 to 3000 BOEPD.

Even if we dont get taken over we would have many options, if we could reach such a stage.
Either with many JVs or a combination of JVs and bigger CR to fund our vertical play in Niobrara, or whatever combination TB comes up with.

Anyway weve just taken a nice step in the right direction with todays Ann if we can build on that and continue to get some positive news at FP were on our way to a bright future.

LWR