Post by
blueranger on Jan 23, 2006 8:16pm
60% declines.
Find production:
7-16-46-9W5 0.6 Bcf and doing 600 mcf/d.Down from I.P of 10 mmcf/d
6-15-46-7W5 0.1 bcf and doing 100 mcf/d , down from I.P of 6 mmcf/d 16-6-47-9W5 0.09 bcf and 350 mcf/d, down from I.P. of 800 mcf/d
12-17-46-9W5 0.2 Bcf and 400 mcf/d, down from I.P of 1.3 mmcf/d.
Check out Meridian to the south with similar 60% declines, Find have to keep drilling to avert a melt down, more capital but no reserve adds. Watch what happens in April, May , June when they can't drill.
Sell the company before the music stops, gas at $7.00 next month, drilling costs up 40% and a warm soggy winter with an early break-up.
Sequoia need to buy gas and they like the area, lets hope they can't read production graphs.
Comment by
jamieb3 on Jan 23, 2006 10:04pm
Don't understand what the figures mean. The company is not worth owning and is going to go broke? Should I sell for whatever I can get?