Its interesting to note, as well, if the 330b production rates are what they expect to be around 135Bod, together with the 60bod+ from the old well. Thats roughly 200bod at 40% (80bod erh share) We are looking at around 30,000 barrels a year and cash flow (say $50 per barrel)$1.5m a yr, thats almost cash burn neutral. So all we need is one more well on 330 and we begin to get cash flow positive. Nice position to be in.
Smokey is the production rates from 430 well, when we retest the well in the new yr. Could be cash flow positive once that is retested anyway
ERH Price at posting:
9.9¢ Sentiment: LT Buy Disclosure: Held