There is a lot of dribble on this forum and not much substance....

There is a lot of dribble on this forum and not much substance. Here is a quick guide on how to figure out the Economic Limit of a Gas well or Field. Basically if your economic limit is raised the life is shortened and likewise when the limit is lowered the life is lengthened. Also to let you know when they are talking about a workover on PB1 this is usually done on older wells that are no longer producing the necessary pressure to remain in production. As I said before there is a good possibility that these well will produce, but they still have some work to go (and information to divulge) and I personally wouldn't be buying a house as yet on these announcements.

ELgas = WI X LOE / NRI[(Po x Y) + Pg] x (1-T)

ELgas is gas well's econmic limit in thousand standard cubic feet per month (MSCF)

Po,Pg are current prices of oil and gas in dollars per barrel or per MSCF

LOE is the lease operating expense in dollars per month

WI = working interest, as a fraction

NRI = net revenue interest as a fraction

Y = condensate yield as barrel/million standard cubic feet

T = Production and severance taxes, as a fraction