284 Million shares.Projected cash at end Quarter 31/3. $130...

284 Million shares.
Projected cash at end Quarter 31/3. $130 Million.
Tax not likely to be paid on Yellow Rose/ Blue Bonnet sale. As like enterprise will be entered into, in USA.
Current net returns per day from Donnell 457 No1H ( Petro Hawk term assignment on 50% of current production) and Harrison 2 estimated to be $45k per day. Soon to have income from Dilworth No1H a better producer than Donnell 457 No1, fractured with HiWAY technology from Schlumberger.
Next wells in Term ass area will be fracced with this technology. ( Petrohawk are using HiWAY technology exclusively 100% now) Around 50 wells to be drilled in term ass area ??? some time. Estimate of nett return to AZZ ,working on 50% of production is $2million per well.
Harrison 3 drilling, Harrison 2 still has top zone to be produced, now producing in middle zone.
All of the above ignored at current share price.
Even cash backing , which is currently projected at Quarter end to be 45.8 cps.
A real good time to get on board.Assuming the next venture has the due diligence it deserves applied to it.
Its our money Ralf.
Cheers