RE: new wellI will take a stab. Since IP on the new well is pulling water right from the get go, I would have to say it will take a lot of money to fix that (sleeves, cement, rigs etc). 100,000.00 - 200,000.00 ? The old well is pulling 15-55 bbl/day. Weird numbers but lets shoot for 30bbl/day on average. Thats about 1500 dollars per day. Thats not net back mind you. Take a look at other heavy oil companies and their net back is 30-40 dollars per barrel cold production without using one billion megawatts of electricity. Maybe Deloro, after all expenses, could say they have 20 dollars....Maybe? Giving the benefit of the doubt, thats 600 per day of revenue or a potential 219,000.00 year. There's no less than 2-3 million spent on the power, servicing and horizontal drilling. Even if the new well comes on and takes the revenue to 1200.00 dollars per day it will take six to ten years to payout what just happened....When do we as the shareholders see a payout? I do not want to be a pessimist, but without the hearts and souls of the shareholders believing in this project, Deloro wouldn't be able to pay their power bill in their office.
Heard Crescent Point is paying close to a 7% dividend. Saxberg doesn't let anyone down.