1) Some of the predicted cash owed from Caroline has now been payed as forecast, with significant amounts still owed.
2)This quarter production for Caroline 26.25% generated 385 BOED /quarter this and last quarter was 375, so decay rate is
is around 2.6% per quarter which is similar to previous quarters decay rate . i.e. decay rate of 10% per year..
This is equivalent to a half life of 6.5 years.
3) SHE Working interest generated 900BOE/day. David said target seasoned production was 2000 BOE/Day for dividend payment.
4) a Second Caroline well was mentioned
5) Last quarter they did exploration,looks like their processing the results and moving things forward.
They did not spell things out ,but to me this is a very positive quarterly and confirms their strategy.,
Ann: Quarterly Activity and Cashflow Report, page-6
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