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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Eva who wrote (9917)12/3/2003 6:21:22 PM
From: Ed Ajootian  Read Replies (1) of 24927
 
Eva, that would be me. Yes, exciting stuff going on in Texas. Unfortunately however they will have to wait until 12/21 to get the upper zones of the Lehrer #2 well frac'd, unless somebody ahead of them cancels. So we probably won't get any more news until next year. This is an unfortunate byproduct of a drilling boom, where the frac guys just can't keep up with all the action.

The Hound Dog well is going along famously and is already at 2,000 ft., so its possible that we could hear about both this well and how the production test of the upper zones of the Lehrer #2 went in one release in the first week of the year.

In the 3Q financial statements Diaz just put out, they are showing a DD&A rate of only about US$.42/mcf for their US production. This indicates phenomenal economics, much better than I had guessed they would be.
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