The only thing I am not understanding about Belize is why we are drilling so close together. One hole in the ground can produce many laterals going in every direction. Or we just doing vertical drilling now for testing?
If thats the case then they can come back through the first two wells and cover roungly 60k - 80k' squared. Technology in the drilling industry is getting really good.
I'm sure we are in the Permian Shale in West Texas and recent studies have showed that it could be the biggest oil find in North American history. Bakken can't even compare. The only problem we will face out there is we are using old technology because we don't have the money or operation's guys to do it. It will come but right now we are still a little fish. In the permian from 1 well, I have a customer that has 5 laterals connected to it. They went to 15k' and then 12k and then 10k(different direction) and the 8k (different direction) and 8k (same direction as 15k and 12k). They are producing roughly 750 BOPD. It cost to be the boss and they are getting crazy returns on their investment.
Figure this, we started talking about this in early January. We can't be happy with 10 BOPD at this time because by the time we get another one going this one will be out. First Quarter ends Sunday are we close to 50 BOPD. I guess we will find out at the end of April. Point is we need a big big break or we will be nickeling and diming at the beginning of next year. Thats nothing personal thats reality.
