Somethings up with the plans below. Why do I sen
Post# of 39368
Posted On: 11/29/2012 5:39:41 PM
Somethings up with the plans below. Why do I sense a shitload of oil coming from this project?
East Texas
After our meeting this week with our technical consultants, it seems that the probability of large oil production is unlikely from these 3 laterals. We are estimating less than 20 barrels a day including the Lakeshore production. The gas production should come from all 3 legs and should be between 500,000 MCF ($1500.00) to 1,000,000 MCF ($3,000.00) a day. We will have accurate estimates of future production shortly. Although we do not consider this a great success, it is not a failure either. We plan to set this production on line and move on to our next well on our Eastern Texas Project. We have already chosen our location on our 81 acre Elora farm out next to the Sabine River. Once the survey and permit are completed we will start (that should take about 2 weeks). This drill will be approximately 3500 feet. It will also be a horizontal drilling into the Fredricksburg zone. A prior well owner drilled there in 2007, but only had the rights below 5000ft. They wire-lined the entire well and we now have those logs in our possession and will drill where the existing pad is. This will allow us to avoid the pad setup expense. Also having 50k worth of logs should allow us to navigate into the zone with success. If we have a successful oil well (our goal) we will drill again from this pad into the Saratoga zone.
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