Production

I thought it might be time to have a look at current production.

The Texas RRC website is being upgraded never the less you can still access the production information.

I also think its worth noting that land sales tend to be based on so much per barrel of current production, so its important to keep your production as high as possible.

I'm looking at April's numbers & they don't look very pretty at all. However what strikes me the most is the new wells at NS, the ones who's initial performance was so overwhelming accord to the board of directors that it justified pulling the asset sale.

Now April didn't have any weather issues or curtailments that we know of, so you might be alarmed to know that Cozart 11 managed to produce all of 277 barrels of oil & 477 MCF of gas, Debnam22 managed 357 BO & 551 MCF of gas, Pettaway-1 all of 395 BO & 18 MCF of gas. In comparison the 16 month old Cozart 19 produced 1,468 BO & 1874 MCF of gas.

As for March Cozart 11 managed 386 barrels of oil & 231 MCF of gas, Debnam22 managed 467 BO & 598 MCF of gas, Pettaway-1 all of 131 BO & no gas. In comparison Cozart 19 produced 1,526 BO & 5038 MCF of gas (please note on a different search of the same well [43700] the gas figures reads 2348 MCF this seems more likely given all the data on the well).

Looks like Cozart 11 & Pettaway-1 will never earn back the $4M+ spent on them and Debnam22 could well show a loss to.

This board of directors really do think they can treat us like a bunch of fools & get away with it.

LOTM