maverick = no real future....lol..., page-81

Paul, re your query on the low average of 18 bopd and no idea on declines, have a read of the prospectus, it will give you typical declines for these wells.
Have to remember we havent been drilling a lot of wells for the last few months so not many initial flushes to bring the average up, however this should be remedied the next quarter when the new rigs start up.
18 bopd may not sound very impressive, but when you realise that the wells only cost $250,000 all up , compared to $7,500,000 for eagleford shale wells, I think it stacks up pretty well.
For example AUT's first 14 wells are averaging 123 bopd after 12 months production, so on a cost basis are only producing 4 bopd. Thats ignoring any gas, which of course is not worth very much at the moment.
In the oil window of the EFS its even less, with TXN's wells only averaging 80 bopd after a year, so on a proportional cost basis, less than 3 bopd.
The beauty with MAD's wells are that after 3 years or so, they can rework the well and start back up with full production again for a cost of about $15,000. Shale wells will only keep on declining.