This Stock for Real MXM No BS'll have to check again because I'm going by memory, but I believe the estimated probable and possible reserves on this property are approximnately 11 million barrels using primary recovery methods and an additional 10 million barrels using secondary recovery methods. However these estimates do not include potential reserves in the lower sands. This first hole will give us a good indication if the property is proving up as good or better than expected.
Also, Art has stated he is working on another acquisition in Trinidad, so we'll have to wait and see how much more acreage he is picking up.
I was originally expecting flowrates for the initial well in the 200-300 barrel a day range. I believe we will have at least that.
Additional drilling and continued success in this neighbourhood should take us to producing 1000+ boe/d in relatively short order. It won't happen overnight, but this looks like an easy fiver-bagger minimum to me.
Up.