CURLEW LAKE RESOURCES (CWQ-VSE) Message Board

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Gold/Mining/Energy : CURLEW LAKE RESOURCES (CWQ-VSE)

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To: CLK who wrote (123)	7/4/1997 6:52:00 PM
From: Dale Schwartzenhauer	of 701

Some very good questions, here goes: 100 BCF of natural gas is 100 million mcf's, which is currently priced between $2.10 and $2.40; so roughly a $250 million gross value. It is expected to take 3-4 wells to drain the 1000 acre prospect. The land is limited to the current prospect; surrounding acreage is held by Amerada Hess, Enron and Texaco. Cash flow could range from $2-$2.5 million annually per well at the low end, to $8-$10 million at a level that wells in the area have initially produced. Multiply each co's net interest (CWQ=40.5%, MWR=15%, MLE=5%?, RCW=5%) times the figures given to obtain respective amounts. Dale

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