OTCPK:MAUXF - Post by User
Comment by
CalifDreamingon May 13, 2008 11:13am
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Post# 15067257
RE: 1 zone = 3,250 bpd stabilized 43 API - Sweet
RE: 1 zone = 3,250 bpd stabilized 43 API - SweetI went back and looked at the original test results vs stabilized production. To my surprise, production and reservoir characteristics are better than originally reported (both production and pressure higher, with a higher choke):
2007-06-26 10:13 PT - News Release
"The zone that was tested flowed at a stabilized rate of 3,237 barrelsper day of 43 API gravity oil on a 20/64-inch choke at a flowing tubingpressure of 585 psig with no water or sand production and a lowgas-to-oil ratio. Upon completion of the current operation, Mart andits partners will be testing at least one more oil-bearing zone priorto preparing the well for production."
Assuming similar reservoir response for the second zone, I am encouraged that we see ~5,000+ bpd when commingled.
5,000 bpd x $120 bpd = $220MM revs/yr. They get accelerated cost recovery for their historic field expenses, so they should see a wall of cash arriving in the near future and maybe, just maybe, these jokers will get off their arses and get those rigs turning.