K, this is the information I have gathered from PR's.... If you can help me fill in any blanks that would be appreciated.
Pierson spearfish well 14-13 (%net?) 113 bpd (sept 20 NR)(high of 128 Nov NR)
Pierson spearfish well 11-26 (%net?) 100 bpd (dec 7 NR)
Pierson spearfish well 11-05 (%net?) 31 bpd (sept 20 NR)
Pierson spearfish well 13-23 (50%) pending (frac Nov)
Pierson spearfish well 6-24 (100%) 80 bpd (dec 7 NR)-water cut
Pierson spearfish well 15-30 (50%) 40 bpd (dec 7 NR)-water cut
Pierson spearfish well 2-6-2-28 (50%) pending (frac Dec)
Pierson spearfish well 7-34-1-28 (50%) pending (frac Dec)
Roncott Bakken 7-27-5-25-W2 20 bpd (verticle)
Roncott Bakken 34-5-25W2M pending (verticle)
From the Last NR:
With the addition of these two wells the Company will have drilled a total of 8 Spearfish wells in the area, 5.3 net and expects to exit this round of drilling with oil production between 400 to 500 barrels per day net to the Company. Assuming a drilling density of four wells per quarter section, the Company has 21 (net) additional locations in the area for future infill drilling.
500 bpd at $100 is $50,000 a day in revenue. $1.5 million a month or 18 million a year. current market cap is 13.5 million. IF- they hit 500 bpd I would say this company should have a market cap of at least 30-40 million based on other companys.. plus the take out premium. First they need to get solid numbers out and then maybe some promotion!