Ann: Texas Update , page-14

Interesting results

Using $3per Gj for gas and $80 POO
1mmcf = $3,000 = 37.5bbls
(be careful with other BOE's / they're usually based on volume/which is irrelevant)

So on the 21/12 they perforated to clean the well out and got
2.4mmcf and 191 bbls
TOTAL = 281bbls
They announced they had 3 zones with 37m net pay
They announced that they only perforated one of the zones with 6.2m of net pay (of the total 37m)

So today:
They announce the middle zone has been tested getting 3.3mmcf and 290 bbls
TOTAL = 414bbls
But they didn't indicate if this is the same zone.

The eventual aim should be to get at least 1,000bbls.
IMO - this is a pass mark for a good well
414bbls from one of three sections is on the way.

If I were holding I would find out the details of the three zones. This would help value these flow rates so far.

Good luck to holders

Disclosure: close observer of Peter Landua (hold CCC)