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not yet @cougartrading. I think that once they have completed the wells and put them online they will probably publish these numbers. The difficulty trying to work it out from our end without the data is that we don't have the final well costs, acreage costs etc.  You can do a back of envelope-  EUR of the three wells of 150,00 BO ( 3 x 50,000 BO) , I think you are looking in the range of $20-$25 per BO cap cost ( assumes $1mil on leasing  &  G&G and $3mil on the wells) . Its hard to understand without having all the data and making an assumption on the "estimated ultimate recoveries (EUR) of the wells. Needless to say, in this area of permian on these types of wells I've seen numbers from $15 - $30 to date. If this is the case with Capitola they have plenty of room to move at $50 oil.

What I think will be interesting is what they do next. Drill the next two planned wells or start to look at acquisition of production, increasing acreage size while environment is negative or something else. Worth having a look at http://www.texas-drilling.com . Its pretty much a free site. You can source a lot of info in there. If you are really keen and want to spend some $$$ then sign up to drillinginfo or IHS as I do. That way you can see exactly whats happening in the oil market, who is drilling where and what the actual results are. Its great value. A lot of info.

The question is whats next?



These are my views and my views alone. We all need to read and research for our own investments.