This project currently has one horizontal well drilled and will be completed within days. It has generated very good information and the expectation is that once the final stimulation is finished this well will produce 3,000 BOPD. There are two additional wells that will also be completed by Christmas.

Once these first 3 wells are done and producing they have another 13 wells planned into the same zone. If 16 wells average 2,000 BOPD that is 32,000 BOPD.

Each well will cost $2.5M. The depth is 2,400 to 3,400 meters. Cost of production is $15 - $20 / B.

The company is seeking a $30M investor for a 16 well industry deal where the company will operate. As the first wells start production the deal terms will change from what they are at this very moment. So, from an investors perspective time is of the essence.

This is an excellent ground-floor opportunity in what is now a "proven" project. With the sheer volume of production this will be an absolute winner for the investor. Serious inquires only.

Posted Jun 9, 2014

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