$360,000/pa revenue from first recompletion

Subject re: hmmmm-correction $300,000 pa
Posted 15/02/05 08:59 - 1 reads
Posted by alecfra
Post #166420 - in reply to msg. 166286 - splitview

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."