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Gold/Mining/Energy : Jersey Petroleum -JPI (was Jersey Goldfields -JRG)
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To: Bobby Yellin who wrote (42)10/16/1997 6:21:00 PM
From: burner   of 100
 
Bobby,
The wells that Jersey are interested in are called development wells and the operator was described as very knowledgable and conservative, with 35 years of experience in the business. They could end up with up to 25 wells with drilling to begin by end of November. The fisrt 3 wells should be capable of between 50-150 barrels/day.
85% of cash flow will revert to JRG until costs are paid back then 60% or greater to JRG. Two of the properties are owned outright and a third would be farmed out to the JV.
Regards,
Dan Byrne
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