RoosterMan.. Their 1Q earnings release is postponed till the end of the
month.. and they have filed a report to the SEC about the delay, due to
working their bookeeping backlog down.. I hope their report will be for
a nice 1Qtr. They had some nice sales of gas in January (over 4 bucks), but
I think prices dipped under 2 bucks for the next two months, although
I could be off somewhat on Feb/March figures. This gives them a good
shot of improving on what they did a year back. We will find out in
about a week or so.
Well longivity.. I'm not an expert on this, but have asked the question
also. I think it is similar to mining.. as there is a resource there,
and you have to find as much of the economical portions to prove up a
property as possible. In gas, there are pools delinated by faults, traps
sheers and horizontal zones that somewhat help define a resource. They have
indicated a well like the Bowerbank 5B, which has 6 zones I recall, will
likely be a producer for 10 - 15 years. The Denverton Creek well they
just announced, has at least three zones, including one monster one of
77 feet. However, they usually start from the bottom zone first, and
that one is 20 feet in the Denverton well. After that zone is depleted,
they will open up the 77 foot zone and pump that one, and so on. Another
way to ask is to find out the history of other wells in the field they
are in did in terms of performance (production and longevity). Hope that
helps somewhat..
Wayne |
