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Gold/Mining/Energy : Ultra Petroleum (UPL)
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To: Little Joe who wrote (4075)4/26/1999 5:35:00 PM
From: Richard L. Miller  Read Replies (1) of 4851
 
To Little Joe and All,

A good friend of mine is a consultant for a small energy company in Denver. He worked up the numbers the other day to find out what it takes for a well to be profitable in the Pinedale area. His company is going to drill one or two wells in the area and they needed to know what the maximum outlay they could pay out and maintain a profit. He said if the well cost was around $3 million, an average well would probably pay for itself, but little more. They plan on drilling at a cost around $1 and 1/2 million by drilling a smaller hole and feel they can make a good profit. If UP can get there cost down to this level, they should be able to also make a good profit. Not long ago, someone said something about drilling a smaller hole for less cost. Hopefully, this is the plan. Breaking even does nothing for the stockholder.
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