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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed -- Ignore unavailable to you. Want to Upgrade?

To: jhild who wrote (3784)	6/25/1998 8:22:00 PM
From: V$gas.Com	Read Replies (1) \| Respond to of 11684

There are no 20 day work months in the patch. Wells don't quit for the evening or take weekends off. To run one log takes approximately 3 to 4 hours. To try and illustrate your next question, let's assume a field of 50 wells. 10 of which are currently producing, 10 of which are junk with maybe some salvageable pipe and 30 shut in. The 30 wells are the ones we will worry about. If they run a 24 hour crew, the wells could possibly all be tested within 5 days. Once evaluated, to see which wells have behind pipe recoverables, the pipe is perforated cleaned and placed on production. Let's 50% have recoverable reserves. These would be placed on production at that point. An analogy, the company who emplys me sold a field in west Texas to a small independent producing approximately 800 bbls of oil per day. Within three months the company had doubled production. There were over 100 wells in the field. Yes, we overlooked reserves, yes a small independent can operate cheaper than a major, and yes, the field did not fit into our core properties. Regards, Bob