GREY:TRIAF - Post by User
Post by
vlieton Mar 15, 2004 4:32pm
335 Views
Post# 7212692
good report - NOT
good report - NOTHere were earlier projections from the company
TOL's December 3, 2003 Press Release states that as of Dec 3, that ..
"total company production is 1,117 MCFD" and that "anticipated year end(2003) production will be in excess of 1,500 MCFD or 248 BOED."
And some analysis based on the press release:
This from "The Rock" Jan 19 this year.
"Production was just 30 boe/day up to Q4.
Likley, Q4 averaged 150-175 boe/day.
So, that should equate to a cash flow of about $300,000 for Q4.
Q1 should average about 250 boe/day, perhaps more if they are able to tied in the new wells......"
The company is just now at 110boed. They are way behind the plan; there is just no doubt about it - disappointing results. It explains the recent weakness in price.