GREY:SDRYF - Post by User
Post by
gonecodeon Aug 31, 2010 11:13am
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Post# 17399519
The real concern..READ!
The real concern..READ!This was what I was telling you guys ........
This will be the HUGE problem next year.............WHY ??
Well now that you asked,
They planned on Kom Ombo being able to fund future drilling witht the CASH flow....Great Plan.
Expect................They are not getting the wells they hoped for......
Under 200 BOPD from a well on production gives little Cash flow after expenses............
Sorry .....
But again ..................They could still hit another zone and get better numbers .........
But how do we invest ....................Not on what they MIGHT DO ...........what they have done.....
READ the highlighted line.................That should worry you !!
The Company incurred a net loss during the second quarter 2010 of $1.4 million and generated funds from operations of
.7 million. The Company exited the second quarter 2010 with no debt and working capital of $24.7 million including $22.5 million of cash. The Company expects to have sufficient funds to execute the remaining 2010 capital program from funds from operations and cash on hand.
OPERATIONS REVIEW
Kom Ombo (Co-operated, 50% working interest)
Production
Current production from Kom Ombo is approximately 700 bbl/d gross (350 bbl/d net) of light sweet oil with an average API of 37 degrees.