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Gold/Mining/Energy : Big Dog's Boom Boom Room (Moderated)
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To: Frank who wrote (42)4/18/2005 2:41:57 PM
From: MIRU  Read Replies (2) of 89
 
Frank, Re: BEXP, the problem here is that they make plenty of discoveries but most are farmouts and most are Frio or Vicksburg fast decline stuff. So future projections of production rates tend to be optimistic. A year after a 4 MMCFD well comes in, lets assume they have 80% NRI and a 50% decline in year one and have to give up a 25% back-in after payout. So one year later your 4 MMCFD well is now 1.2 MMCFD net to Brigham. In other words, lots of good news, but a "squirrel cage" when it comes to increasing production.
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