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Investors should get positioned in CWQ and MWR before drilling starts on the highly prospective Bacon Island gas play in the Sacramento Basin of California. A total of four separate pay zones are being intersected by operators in the area, to a depth of 10,000 feet. The 1st test well could spud in about three weeks (road conditions permitting). The lease has seen production on two sides within about three miles. At low end expectations, we could see reserves of 50 - 100 BCF of gas, to a higher end of perhaps 250 BCF of reserves. The upside on this project could be on the order of 50 times current prices. They don't come along like this everyday. Prices are low, but trading is thin, so position yourself now!
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