V.EGG - Ebony Gold & Gas Message Board

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Gold/Mining/Energy : V.EGG - Ebony Gold & Gas

EGG 6.115

-2.0%

12:47 PM EST

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To: Don Billins who wrote (520)	4/26/1997 2:54:00 PM
From: diddlysquatz	of 1088

Hi Don, I'd like to ask a couple of questions regarding this post and Ebony's well. I find it a little confusing. It states that "the Ledbetter #3 produced the equivalent of 226 BOPD with producible gas" I think this is a respectable flow however the financial numbers seam a little misleading. "Quick calculations show that 226 BOPD x $20 USD per barrel = $4,520 per day. Times that by 365 days per year = $1.6 million USD per year. Times that by 1.3 (exchange rate into Canadian Dollars) = $2 million+ per year. Is this well 100% Ebony's? These numbers make no mention of recovery costs. What will they be? Will they need to cut back flow rates under the Good Production Practise? I have a problem with the $0.30 per share earnings statement. My calculations call for much less than that. Don't get me wrong, I think 226 bopd is a very good flow and this is very positive news it's just that these calculations seem way off. Paul

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