Petrominerales Ltd PMGLF

RE: News..Production Triples/More gains ahead

[goldpig]

Good analyses , but lets try filling in the blanks for the zones that are not yet produced , using production from those same zones that are produced in the other well.

C-1 had 77 ft of net pay , of which 36 ft in the LS1 zone are producing at an average of nearly 5000 barrels per day.
That well had 41 ft of net pay , which has not yet been tested.
Based on C-3 Guadalupe zone which tested at 11,000 barrels per day for net pay of 23 ft, the Guadalupe zone in C-1 would be expected to produce about 19,000 barrels per day , for a total combined production from C-1 of about 24,000 barrels per day.

C-3 had 68 ft of net pay. The  45 ft of net pay in the LS1 was not tested , but based on the same zone in C-1 well , that zone would produce about 6000 barrels per day..

Total production from C-3 would then be about 17,000 barrels per day.

Total production from the 2 wells , with each of the 2 zones producing in both wells, would be about 43,000 barrels per day.

Co-producing would diminish this somewhat and a 30 % factor would not be all that unreasonable.
in other words, these 2 wells when co-produced , would add about 30,000 barrels per day to the existing production of about 7000 barrels per day.

The massive productivity of these 2 wells has yet to be noticed by the average investor.