XNRG Update - Dear Folks, We report that the Ri
Post# of 1230
Posted On: 07/04/2014 3:56:18 PM
XNRG Update - Dear Folks,
We report that the Rice #15 oil well has produced 195.89 barrels of crude oil as of 7:04 AM EDT, July 4, 2014, since oil began streaming on June 16, 2014.
Production of crude oil and water on Rice #15 is leveling off. Based on the last 24 hours of production, Rice #15 is producing at slightly less than 3.5 to 1 ratio of water to oil. We reduced the pulley size from 7" to 5" and will pump at this rate for now.
During the week, Ergon picked up 147.87 barrels of crude oil generating revenue for the Company. Ergon picked up a partial load due to local and state laws. Crude oil tanker trucks are restricted to a maximum of 150 barrels of crude oil per lift. Even though the load is less than 150 barrels, the Company will be paid on the pricing for "plus 150 barrels" due to the fact that more than 150 barrels was in the 210 Stock tank at the time of pickup by the tanker truck.
This is our last production report for the Rice #15 well on the Xun Forum. Our revenue will be reflected in our next 10-Q which is for the period ending August 31, 2014.
The drilling rig was demobilized from the Rice lease and is not scheduled for drilling the remaining four oil wells on the lease at this moment. Management decided to wait until all the funding is in before re-scheduling the drill rig.
Thank you for your support and faith in the Company and its management.
Respectfully,
Xun Energy, Inc.
Jerry G. Mikolajczyk,
President, CEO, CFO, Director
We report that the Rice #15 oil well has produced 195.89 barrels of crude oil as of 7:04 AM EDT, July 4, 2014, since oil began streaming on June 16, 2014.
Production of crude oil and water on Rice #15 is leveling off. Based on the last 24 hours of production, Rice #15 is producing at slightly less than 3.5 to 1 ratio of water to oil. We reduced the pulley size from 7" to 5" and will pump at this rate for now.
During the week, Ergon picked up 147.87 barrels of crude oil generating revenue for the Company. Ergon picked up a partial load due to local and state laws. Crude oil tanker trucks are restricted to a maximum of 150 barrels of crude oil per lift. Even though the load is less than 150 barrels, the Company will be paid on the pricing for "plus 150 barrels" due to the fact that more than 150 barrels was in the 210 Stock tank at the time of pickup by the tanker truck.
This is our last production report for the Rice #15 well on the Xun Forum. Our revenue will be reflected in our next 10-Q which is for the period ending August 31, 2014.
The drilling rig was demobilized from the Rice lease and is not scheduled for drilling the remaining four oil wells on the lease at this moment. Management decided to wait until all the funding is in before re-scheduling the drill rig.
Thank you for your support and faith in the Company and its management.
Respectfully,
Xun Energy, Inc.
Jerry G. Mikolajczyk,
President, CEO, CFO, Director
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