5k bopd ! Maybe notSince it was reported to be 4800... in 1936... not developed for some reason... no data available... you don't just
take for granted that it produced a steady rate for a week.
Why not just produce the well ? Why bother exploring ?
In any case, 4800 bopd doesn't stay 4800 bopd when you apply a 40% working interest.
Then apply a 40% royalty.
Then apply operational expense.
Then apply tax.
Makes you stop and think, don't it ? So let's hope for good reservoir performance, light oil not heavy, and
not gas. Let's hope it wasn't a small pocket they found, which initially produced and watered out.
You can listen to Maysteeler, but he said the exact same stuff with ENG a few years back. This is just his
latest flavor of the month.
The company is in a negative working capital position, shortly before spud. That has to change, don't it ? Let's just close our eyes and tap our heels together, everything should work out fine. It still ain't Kansas.