I think that the 80 to 100bbls has to be 80 to 100
Post# of 39368
I think that the 80 to 100bbls has to be 80 to 100bbls for TECO. Remember we are getting 28% of the Mitchell wells. The company said Mitchell #3 is doing 25 to 30BOPD so lets take the 30 and lets say Mitchell #4 settles out at 45BOPD that would be 75BOPD total. We get 28% of that which is 21BOPD. We still need another 60 to 80BOPD. Mitchell will not do it alone but that in another $2100 per day that Treaty does not have to borrow or sell share for. Each deal will be sweeter and sweeter for Treaty because we will have more and more cash to use to get better leases and sweeter % of those leases. I know 21BOPD is not just tearing it up but it is over 50% better than the last TRRC report we saw. BABY STEPS. Next deal we get done if it is 50% more oil for Treaty then that will be another 30BOPD added to our 21+/- along with the 8 to 10 we already have. That is looking like 60 total and 50BOPD new. If we could continue a 25 to 50% increase each time a deal is done by the end of the 1st quarter in 2014 we could easily be at 150 to 200BOPD. Then we can make some money because our cash will allow us to demand the largest % of the better leases we acquire. From what I have been told by the company this is the approach they are taking and it looks to be going that way. Maybe not in the time they first told us it would but it is 1000% better than last year. IMO