NuTek, Oil Company, currently at 1 Message Board

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Microcap & Penny Stocks : NuTek, Oil Company, currently at 1

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To: Geoff Coates-Wynn who wrote (14)	9/8/1996 10:34:00 PM
From: Rick Meyer	of 95

Geoff I am not sure if all your questions have been answered, but I'll give it a try. The stated goal that I've heard is 3 years for the accumulation of 5000 wells. How fast can they turn an acquisition into dollars? - After a well is obtained - Nutek will sell the existing pump equipment to a salvage co. and that will yield a couple thousand dollars. Then the wells will be serviced by a "swabbing truck" that can take out a relatively large amount of oil in a short time. Wells will continue to be serviced by a swabbing truck until a Bailer Pump can be installed. If a Bailer pump is available - I believe it takes a pretty short period of time to get it running - not sure if its a couple hours or a couple of days. (Once a pump or swabbing truck is servicing a well - oil is produced which I believe is sold within a couple of days.) The availability of pumps will also be another issue. Nutek has said that currently their vendors can produce about 10/day. But they are not producing anywhere near that amount. I imagine it has something to do with current lack of acquistions. Last I checked, they only had 14 wells installed. Hope this info is useful. Rick Meyer

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