Is it true that the 80 BPD on the Mitchells went t
Post# of 39368
Mitchell #3 & #4
Contrary to speculation and rumors, the Mitchell #3 and #4 are still producing daily. The Company has received numerous amounts of emails regarding the Mitchell lease’s production and why they have not had ‘daily updates’ on the lease from individuals who have been acting as voluntary representatives in the field. Shareholders should rest assured that the Mitchell lease is still active and producing.
The Company however, does acknowledge that production on the Mitchell lease has decreased slightly. This decrease is not unexpected and was calculated into the Company’s reserve and production calculations. All new wells operate on a declining production function and the Company anticipates that overtime newly drilled and perforated wells will decrease in production.