RE: RE: Oil UpNog will edge up on positive drill results. The fact that our base edged up only half a cent since the last production announcement certainly reflects on the low production. A larger increase will come if we achieve positive cash flow. Obviously they will have to do better than wells with 20 to 40 bbls a day production if they want to make a huge dent.
in the share price. I have calculated that 2010 exit revenue should be triple the revenue from the second quarter based on 130 bbls/day at $57.00 a barrel. This includes 2 reentry wells and 2 new wells that should be drilled in the 4th quarter. This amounts to $674,000 per quarter.