Interesting Oil Company in Trinidad
Start of the News we've been waiting for Posted By: Pennypicker4
Post Time: 10/7/2006 09:24
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Obviously from the posts and the new posters coming aboard, things are really beginning to heat up here. This could be one of the BIG success stories moving forward to 2007.
From what some are speculating once all Eight wells have been drilled, we could be producing between anything from 1500-3000 barrels of oil a day. In 2-3 weeks, all things being equal, we will know how much Oil the first well will produce and it is speculated that this should range from 250-350 barrels a day.
Remember Maxim is a MAJOR participant in this well, owning 41% after payout and based on $35 a barrel revenues allowing for Taxes and contingencies for a decline in the price of Oil ....we can do the Math on this ONE well.
$35 times 41 % times 300 barrels = $50,125 per day which converts to more than $18 million dollars a year in gross revenues.
Imagine if after everything is completed the total production is 1500 barrels a day this would convert to $90 million a year or $2.00 a share based on 45 million shares outstanding.
These figures IMHO are not beyond the realm of possibility but if nothing else they illustrate the potential here and its a no brainer to see what an incredible speculation we have here.
As I say this is just the start and there will be lots of exciting days ahead.
Good Luck to all and a Very Happy Thanksgiving to one and All!!!
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