hawkville sale, page-5

I was just looking at your figures LOTM.
Based on your figures below of 100bopd then it was a fantastic sale for AZZ.
NOW WE DRILL 4 NEW WELLS @180 BOPD EACH ( cozart)which gives us 720 bopd.
Its a no Brainer......great sale for AZZ
Even if the 4 wells produce half of 180 bopd its still good value

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Just sold an asset that costs the company nothing to own. They had a free carry on every single well drilled.

On 80 acre spacing, that meant @ 110 wells in total.

Each well achieves payout in 12-18 months after this Antares got its 6.25% WI (other than the 1st well 4.25% WI)

That translated into @ 5-7.5 bopd per well plus some natural gas and NGL. Another 15 wells wee due to reach payout this year alone.

So net production would have been @ 100 bopd plus the rich gas and NGL.
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