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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: dfloydr who wrote (46931)	6/25/1999 2:15:00 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

OK, I will call Bill. They have several new wells that should impact this quarters results. I think the first one discussed is the one that Oilbabe mentioned (2 MMCF/day). Actually, by my estimates, MEXP should show a profit this quarter. The Heffelfinger #1-25, Hillsdale County, Michigan, has been completed and tested and is awaiting completion of a pipeline connection as well as facility construction. Preliminary estimates call for first sales to begin in July at a rate of 2 Mmcfd. Miller owns 100% working interest in the property with an approximate 87.5% net revenue interest. The Vegas #2 well, Foules Dome, Catahoula Parish, Louisiana, began gas sales on April 20 at a rate of approximately 350 Mcfd. Miller owns a 75% working interest in the property. All drilling activity detailed above has been performed with Miller Exploration Company as operator. Other recent operational activity includes the reperforation of the Allar #2 well, Midway Dome, Mississippi. Production was increased by 2.1 Mmcfd and 46 Bopd with flowing tubing increasing pressure by 700 p.s.i. to reach 1,700 p.s.i. The Company owns an 87.5% working interest in this well, which is currently producing at 9.6 Mmcfd and 188 Bopd. The Minerals Management #5 well was reperforated and showed no appreciable increase in its flowing rate of 8.1 Mmcfd. Oil production was increased by 10 Bopd to a new flow rate of 225 Bopd. Payout from the costs associated with the above reworks is estimated at 5 days. The Hoskins #1, Monticello Dome, Mississippi, is awaiting a gas sales line connection and the Atlas #1 well is undergoing completion. The Dake #1 well is the third well in the Monticello Dome and is also awaiting a gas sales line connection.