I have not run the numbers but I am fairly certain that the production numbers come up for the lease, specifically it currently has two producing wells.
I noticed initially that Laredo applied for an additional well making it three on that lease but only two have been producing to date, obviously they are happy with it to drill another one.
Production does seem to be on the higher side of the PB average and it could be that a horizontal could end up there later.
TRRC website is not that hard, best to start here.
http://www.rrc.state.tx.us/data/online/index.php
GGP Price at posting:
1.9¢ Sentiment: LT Buy Disclosure: Held