XNRG
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Better believe, cassandra, townie, BB, and the rest are at admin at this very moment figuring out how to get RID of this poster here. TRUST THAT, that is how they work.
LOVE this part
GREAT though to see for ALL OF US.
Put him on as mod over there!!!!!!!!!!! LOL
Better believe, cassandra, townie, BB, and the rest are at admin at this very moment figuring out how to get RID of this poster here. TRUST THAT, that is how they work.
LOVE this part
Quote:XNRG and its shareholders got a top quality product.
GREAT though to see for ALL OF US.
Quote:
NCEP Friday, 02/20/15 01:50:19 PM
Re: pepeoil post# 37100
Post # of 37112
I don't know of any promoted project where the wells are $100K each with a working interest anywhere near 80%. Maybe if the driller is drilling for himself and using some used materials. Or if they are giving the investor 65% or less working interest. And how many zones are being fracked? With what kind of sand? A quality frac on a 1,000 ft well can cost $8,000 more per well vs a cheep frac. What kind of casing is being used? Chinese at $6.50/ft or American at $10.00/ft X 400 ft per well? These and other things added together make a big difference in the final cost of a well. You also have to look at the total life cycle of the project not just the hard wholesale cost of drilling & completing a single well.
1. Lease acquisition cost
2. Attorney/Accounting fees (SEC Registrations/filings)
3. Cost of running a company in general
4. Promoter/Broker fees
5. Project management fees
6. Surveys and permitting
7. Building a tank battery
8. Finally the cost of building roads, pipelines, electrical lines, locations, drilling an finally completing the wells.
In addition, Vencedor at XNRG's request, required NCEP to only use new high quality materials such as 7" 17 lb/ft threaded durable American steel for the casing. The frac was to maximize all available zones within the well and only API certified Otawa 20/40 sand was to be used. The separator and oil and brine tanks were also new. I don't know what money was spent or is still owed by XNRG to Vencedor for the project, but what I can tell you is that only high quality materials and workmanship went into the project and no corners were cut. XNRG and its shareholders got a top quality product.
