A CANADA GIFT IN ADVANCE..
Drilling Update
BXE spud a two (2) mile lateral at 13-23-45-09 W5 to a depth of 5,251 metres on Jan. 6, 2013 and brought the well on-line in March 2013. Alta Corp1 reported the results in their February 2014 report at a cumulative volume of 4.69 bcf production. The cost to drill and complete was $7.6 million.
BXE spud a two (2) mile lateral at 15-23-45-09 W5 to a depth of 5,161 metres on July 26, 2013 and brought the well on-line in Sept. 2013. Alta Corp2 reported the results in their April 2014 report at a cumulative volume at 2.0 bcf. The cost to drill and complete was $6.2 million.
Total cost for the two (2) wells listed above is approximately $13.8 million.
6.69 bcf of ng at $3.00 mcf produces $20,070,000 which returns 45%
6.69 bcf of ng at $3.25 mcf produces $21,742,500 which returns 57%
6.69 bcf of ng at $3.50 mcf produces $23,415,000 which returns 69%
6.69 bcf of ng at $3.75 mcf produces $25,087,500 which returns 81%
And guess what, both are still producing ng, at lower production volumes, but still producing.......WOW!!!!!
BXE spud a two (2) mile lateral at 01-36-43-10 W5 to a depth of 5,734 meters on May 6, 2014.
BXE spud a two (2) mile plus lateral at 09-26-43-10 W5 to a depth of 6,704 meters on June 25, 2014.
BXE licensed a two (2) mile plus lateral at 16-30-43-09 W5 at a depth of 6,534 on Feb. 10, 2014.
If you take BXE's top nineteen (19) top cumulative gas wells from the Alta Corp reports, Jan to April, you will discover these nineteen (19) wells have cumulatively produced approximately 15 bcf from Jan. through April 2014.
Words are worth a thousand pictures......so, Johnny Cash with his middle finger extended for your viewing pleasure!!!!!!
Cheers
Wayne
1 - Alta Corp "Top Alberta Well Results for February", April 4, 2014.
2 - Alta Corp "Top Alberta Well Results for April", June 12, 2014.