pine pasture 2 going into production

Pine Pasture #2 being prepared for oil production and should be producing black gold cash flow possibly by end of next week. Prior well on the same structure (flowing at 400 bpd) is a producer so all infrastructure is in place to commence production.

Production at Pine Pasture#2 may come in at around 400 bpd. A second well is planned to commence drilling later in the year along with several injection / disposal wells. At 25% of 400 bpd and assuming US$100 per barrel TEX will gross US$10,000 per day / US$300,000 per month. Assuming the next well gets underway and is successful then revenue will double. Petro Energy assumes less than US$11 finding cost per barrel.

TEX currently collects about US$150,000 per month (also waiting on cashflow from another completed well?. This should get very interesting as good cashflow plus money in the bank means a ramp up in drilling pace. good luck to all longs