RE: Conference Call -- snowyThis IS incredibly good news. Some of the best results that I've seen in a long time from an onshore gas well that only cost $8 million to drill.
And no problem.... I'm glad to share. I'm a happy happy camper on this one.
Try out those numbers at 150 million cubic feet per day, which is what they think they can get with just 5 wells! And don't forget the $2.80 per thousand cubic feet sales price. Sounds like the refinery in Cartegena and industry in western Venezuela will take all the gas we can produce.
Royalties are VERY low. Op costs are so low it's almost funny.
I love when the guy asked about op costs and was told that if he wanted to be conservative he could use 5 cents per mcf for op costs. I think I could almost hear his jaw drop when he heard that the "conservative" op cost number was 5 cents/mcf!